The Human Resources and Compensation Committee
The Human Resources and Compensation Committee consists of three or more directors who must all be outsiders, unrelated and independent with one of the members of the Committee. This committee is responsible for any appointments, promotions, terminations and performance assessments for senior leadership team to include the CEO, monitors the succession plan developed and executed by CEO, approve pension plans for the organization, and reports on occupational health and safety matters. The committee does include the CEO but when matters of CEO compensation are discussed it mandates that the CEO must leave the meeting (Human Resources and Compensation Committee Charter, n.d.).
The Finance and …show more content…
Bombardier attempted to work with a non-family CEO on a previous occasion but that CEO lasted only two years before he was replaced by a family member.
The Governance and Nominating Committee is required to monitor and set guidelines relating to the Boards access to information and management. In the Bombardier executive environment these guidelines are challenging to monitor and control due to the family control of the Bombardier and the lack of truly independent board members. It is further complicated by having members of the family holding other executive and c-suite positions through the organization.
Bombardier and Outside Auditors
The independent auditing firm for Bombardier is Ernst and Young. The independent auditor has direct access to the Audit Committee and has the right to attend all meetings of the Audit Committee, unless there is a private session. The responsibility of the independent auditor includes preparing the annual audited consolidated financial statements and conducting a quarterly financial review, and making recommendations to strengthen the internal accounting and financial controls of Bombardier. The independent auditor also determines if Bombardier 's financial statements are complete and accurate and are in accordance with generally accepted accounting principles. The audit committee reviews
Click here to unlock this and over one million essaysGet Access
Maintains the agenda, arranges travel, and coordinates meetings, conference calls and appointments on behalf of the Manager. Organizes and coordinates the meetings and conference calls of unit staff, special project teams and working groups.
The Joint Commission understands that human resource management (HRM) is vital in any organization because it deals directly with employees, who are charged with the responsibility of achieving the organization’s goals and objectives. Traditionally, majority of organizations treated employees as liabilities. However, over the years, the view has changed to focus on employees as assets. Importantly, in an acute care hospital, committed employees are essential because they would be dealing with patients directly. Moreover, working with such patients requires employees who can create personal relationships with the patients. In essence, patient satisfaction increases when the patients can trust their caregivers (Mathauer & Imhoff, 2011).
The union and staff development committee were responsible for coming up with the different policies for the teachers and their rights. The first policy that we were presented was about the teachers and the union. In order to join the union the teachers will pay fifty dollars a month that will give them many different benefits, there will also be staff meetings, and teacher appreciation week. I feel that as a future educator this policy is extremely important in making sure that teachers are successful. Being in a union has many benefits, not only the discounts but it also gives teachers support and they are able to find help if they need it, it also provides a sense of unity by knowing that they have someone behind them. Having staff meetings allows the teachers to be able to collaborate with one another and collaboration is extremely important in making sure that the students are being taught the same thing and it allows the teachers to talk about any problems they may be having with teaching, whether something is not working or something is creating a problem in their classroom. I feel that all of the parts of this policy benefit the teacher in making sure that they have the support that they need and allows them to work out any problem that they are faced with. The next policy is about teacher pay and where the pay should start at for Seeburger Heights and when you should get a raise. At Seeburger Heights we are going to start off paying $50,000 per year for teachers
As being put in the position of a Human Resource director and being put in a situation that employees do not like the union and would like for me to take action and get rid of it, I will first acknowledge that I hold an important position as being director within the organization and being put in this type of situation. I shouldn’t and wouldn’t allow any employees concerns or disliked interest towards the union to take action without referring to the union laws. In this case scenario I will end up coming up with some sort of strategy plan and come to the best ways where I can be able to convince the organizations employees on the advantages a union brings and educate them more on how important it is to be part of a union while at the same time guarding the company’s interest a mission.
Forth committees is Compensation Committees. They are responsible for reviewing and approving the company’s goals and objectives that covers the compensation of the Chief Executive Officer (CEO). They also evaluate the performance of the CEO and determine or recommend to the Board for determination. Compensation Committtees for
The report below sets out the importance of the HR function, explains how HR activities support the organisation’s strategy and ways HR support line managers and their staff.
BSBHRM512A - Assessment One What you have to do You will need to conduct research into Performance Management Systems (PMS) and how these support the organisation. You should research widely and include a bibliography with your assessment to support your recommendations. If you provide direct quotes you should reference these both in text and with a reference list. There are 2 parts to Assessment 1.
The human resource (HR) in an organization deals with the day to day operations of the human resources department. The HR department deals with business law, compensation, employee relations, benefits, medical and the like. HR focuses on whom the organization hires, whom the organization fires and remediation to employees who need discipline and retooling to continue their employment. The functions of the HR department in my organization include: recruiting and retaining talent, performance management and compensation, employee benefits, recruitment and staffing and employee rights and safety. In spite of the turbulent environment facing the healthcare industry today, my organization has however proven its effectiveness in performance
InterClean is entering a new strategic target and upper management has asked for a proposed compensation plan purposely for the new sales team. Recommendations for the new compensation plan will be submitted to the human resource department manager for endorsement. The foundation of the new compensation plan was developed after reviewing the job analysis, training program, and performance management plan. The plan includes a description of the prepared proposal and the explanation of an effective pay system. The three parts of a total rewards package to encourage employees to achieve highest performance is implemented in this strategic plan. The compensation plan also illustrates the designed
All members of human resources committee will be non-management directors. Human resources committee reviews the structure of the company and its subsidiaries. Also, it studies the policies and principles for selection and retention of senior management. It reviews and monitors the succession plan for senior management. It reviews and monitors executive development programs which include training for senior management members. It recommends policies for performance review for senior management members and monitors the practices used in order to evaluate the performance of the senior management members. Moreover, it reviews CEO recommendations regarding the recruitment, promotion, transfer and termination of senior management members. Human recourses committee reviews and monitors human recourses strategies for consistency with the vision, mission, and core values of the company. It discusses and approves all benefits plan. In addition, it reviews and approves the policies related to pension plans and funding policies. It approves employment agreements and any changes into contractual agreements and provisions. It shapes the CEO's authority and responsibilities in the company. Also, it discusses the company's objectives and performance targets with CEO. It evaluates CEO performance in meeting with respect to goals, objectives and performance targets (Thomson, 2014).
From 2000-2009 a new CEO came on board – Rick Wagoner. He took control of chairman and CEO and thus assuming greater board control. Wagoner then made up his board with past fallen CEO’s of other companies, which were not successful in their previous roles as CEO. As a result of this poor culture and lack of independence of board members and non-separation of chairman and CEO roles led GM to lose $82 billion in four years and the resulting cash management was so poor which led to a huge GM debt. (Sonnefeld 2009) In addition, as CEO, Mr. Wagoner made poor product decisions such as supporting a poorly performing Pontiac
The Committee is appointed by the Board of Directors to discharge the Board 's responsibilities relating to compensation of the Company 's executive officers, to produce an annual report on executive compensation for inclusion in the Company 's annual proxy statement, to oversee plans for management development and succession, and to exercise and perform the authority, duties and responsibilities set forth in this charter.’(Compensation, Management Development and Succession Committee Charter.2008)
The remuneration committee is in charge of monitoring all matters relating to executive pay, performance assessing, and levels of compensation; members should be independent NEDs. (FRC, 2014)