Hrm 531 Week 9 Final Paper

In the case presented both AFLAC and L.L. Bean had their own distinctive ways of utilizing their products in order to enhance the total compensation for its employees. The factor that has deterred more employees away from their current employer is that of benefit packages, and reward systems. As stated by () “compensation affects a person economically, sociologically, and psychologically. For this reason, mishandling compensation issues is likely to have a strong negative impact on employees and, ultimately, on the firm’s performance” (p.313). Many felt just a bump in pay wasn’t enough to substantiate their hard work or the efforts that the performance efforts provided to their organization. As stated by () “the right total rewards system a blend of monetary and non-monetary

carefully planned out and considered, the total closure or failure of the organization could be at hand in the near future. In our modern age, employers know that salary is not the only factor that should be considered and that salary alone will not lead to better or more highly profitable workers alone. This is why compensation planning is important and why pay should have some connection between performance and compensation. This is why the human resources department should consider many monetary and non-monetary factors when considering how to properly compensate and motivate employees (Dessler, 2013).

To end the stereotyping and doubt that police officers have toward African Americans, the participants of the event should incorporate Xavier students, personnel and staff, Xavier University Police Department, and randomly chosen African Americans and police officers in Cincinnati. The random selection will be done online, where African Americans who are interested in attending the event would sign up online. Afterward, they will be chosen at random and will be later informed that they have been selected. Similarly, the names of the Cincinnati police will be selected at random. The random selection will eliminate bias. It is also essential that Xavier students and Xavier Police be available in order to construct a bond between the two. Their presence is important in the dialogue so as to prevent incidents like that of Tamir Rice from happening at Xavier. Furthermore, in order to guarantee full participation, I recommend that the Xavier Administration make this event a no class day and make it mandatory. Students should likewise be given some sort of encouragement to attend the event. For example, Xavier can sponsor for every student who attends the event to have a free dinner at the

The name of the company I will be using is Yakko’s Seafood which it will be assumed is involved in the fishing industry in Hammond, Oregon. The purpose statement I have created for Yakko’s human resources department is as follows:

For the most part, a company’s compensation policy aims to ensure that employees are compensated in a fair and competitive manner. However, the compensation objectives employed by different companies can vary widely. This is especially true when taking into account wages vs. skills, competitor salaries, pay-for-performance, and other elements of compensation, like overtime, incentives, etc. (Snell, Morris, & Bohlander, 2015).

You asked the following questions: “We are working on a project in an existing warehouse that stores and distributes auto parts protected by an existing ESFR system. The owner(s) would like to add a 10 ft high mezzanine with a solid deck about 32,000 sq. ft. in area and store below it. The framing for this mezzanine will be open web bar joist approximately 18 in. deep. The top of the shelving will be 8 ft in. with no storage on the top shelf. The owner is anticipating that about 50% of the products will be Group A Plastics and could be placed anywhere below the mezzanine. The proposed shelving is to be solid shelves by placing two 18 in. deep shelving back-to-back with no longitudinal or transverse flue spaces with a 36 in. aisle. There are five things we are looking to verify: 1) If we are interpreting NFPA 13 (2007 edition) Chapter 17 correctly, if the

A well-articulated compensation philosophy drives organizational success by aligning pay and other rewards with business strategy. It provides the foundation for plan design and administration and anchors current and future plans to the company's culture and values (Kaplan, 2006, p.32). Recognizing and rewarding achievement is the cornerstone of the company A’s compensation philosophy. The mission of the company is to attract, select, place and promote all individuals based on their qualifications. The company believes that performance-based compensation helps attract, develop and retain talented professionals. In addition to base pay which based upon local market conditions and targeted to be above market, the company provides the following types of potential compensation to reward performance:

Hi Steaven, I enjoyed reading your post, it was very informative. You are absolutely right most companies compensation departments is a developed part of human resources, the organization I currently work for is set that way. Compensation plays a vital role also with recruiters. Recruiters know that the very best candidates may have multiple offers and that you have to act quickly to successfully land them. Unfortunately, sometimes compensation doesn’t seem to be aware of the negative consequences associated with a failure to respond rapidly. It can takes compensation days, and in some cases weeks, to approve a final offer. For organizations with lengthy processes, the added delay from compensation means that all too often top candidates will

Pay for performance systems have further been proven to have two advantages for organizations: attracting more high-quality employees and motivating employees to exert more effort at their jobs. (Gordon, Kaswin) This paper will show the positive benefits of performance pay as

Compensation is the total reward received by an employee in exchange for services performed for an organization, it can include both direct pay (salary and wages) and indirect pay (benefits program) (Siddique, n.d). Compensation management refers to the way or ways the employer takes care of one of the most difficult problems with the employee, the employer wants to save money so that it may be further invested in the company meanwhile the employee wants a good remuneration for his or her services (Siddique, n.d). the objectives in compensation management are: promote fair contributions to the employees, recruit qualified people, retain present employees, ensure equity of compensation, reward smart work, appreciate creativity and innovation,

1. Differing perspectives affect our views of compensation. It does not mean the same thing to everyone. A person’s view can differ depending on whether you look at compensation from the perspective of a member of society, a stockholder, a manager, or an employee. Everyone is different. For example, an employee may have a different idea of what compensation is when compared to a stockholder. An employee may see compensation as a return in exchange between their employer and themselves, as an entitlement for being an employee of the company, or as a reward for a job well done. A stockholder on the other hand would have a different point of view. Stockholders are interested in how employees are paid and some believe that using stock to pay employees creates a sense of ownership that will improve performance which will in turn increase stockholder wealth. Additionally, compensation becomes a great interest to stockholders when it comes to compensating the CEO.

Compensation is defined as all forms of financial and non-financial rewards, benefits and tangible services that employee receives in return for the work from an organization (Milkovich, Newman & Gerhart, 2010). In recent years, most of the companies in Malaysia are followed the trend of pay increase with productivity gains. This scenario increases the economic development in Malaysia. With the rapid growing of economic in Malaysia, the cost of living is getting higher. People are expected to obtain a job with high pay and good compensation package. From current society perspective, pay is a measure of justice and fairness. Every employee should be treated fairly because they will compare oneself with another individual. Thus, it is important for us to justify the cash and incentive compensation policy of company D from society perspective.

Compensation is a systematic approach to providing monetary value to employees in exchange for work performed. Compensation which includes a direct cash payment, indirect payments in the form of employee benefits and incentives to motivate employees to strive for higher levels of productivity is a critical component of the employment relationship. It is an integral part of the managing of any organization. Every organization must offer good wages and fringe benefits to attract and retain talented employees with the organization. If at any time, the wages offered by a firm are not competitive as compared to other firms, the efficient workers may leave the firm. Therefore, workers must be remunerated adequately for their services.

In this research article review, as the title mentions, Barnes, Reb and Ang researched the effects of dynamic performance components to the compensation paid to employees. There are many considerations for the performance appraisal of a worker. In this research he analyzes the pay for performance approach, which has both improving and worsening effects on employees. As our authors stated, “There are negative consequences for both under compensation and overcompensation: Paying too little can result, for example, in increased turnover and reduced motivation, whereas paying too much can result, among others, in higher cost and poorer financial performance” (Barnes, Reb & Ang, 2012).

Compensation Management is an integral part of the management of he organization. Compensation is a systematic approach to providing monetary value to employees in exchange for work performed. It may achieve several purposes assisting in recruitment, job performance, and job satisfaction. It is the remuneration received by an employee in return for his/her contribution to the organization. It is an organized practice that involves balancing the work-employee relation by providing monetary and non-monetary benefits to employees. It is a tool used by management for a variety of purposes to further the existence and growth of the company. It may be attuned according to economic scenario, the business needs, goals, and available resources.