What is compensation? How is compensation used? What is the purpose and importance of compensation?
Q: What could be the best cash compensation plan that would be fair to both management and employees,…
A: Monetary compensation is cash paid to a worker in return for the representative's work. Regular…
Q: Discuss what are the benefits and drawbacks of time based pay plans?
A: A time-based compensation structure is one in which an employee is compensated primarily on an…
Q: Critically analyse the compensation system in an organization of your choice and suggest improvement…
A: Compensation system is giving rewards to the employees who are working in an organization. Rewards…
Q: Explain the importance of compensation management. Provide your answer with appropriate example and…
A: Compensation Management : Compensation management is the type of management practice which deals…
Q: Do contingent pay plans help improve employee motivation and performance? Why or Why not?
A: Contingent pay plans refer to those type of employee benefit plans under which the incentives are…
Q: evaluation
A: JOB EVALUTION: The process concerned with establishing the relative importance of different…
Q: Briefly explain the importance of organizations having good compensation and benefits plans for…
A: Compensation and benefits are nothing but the benefits or everything that a company offers to its…
Q: Discuss the compensation philosophies and approaches that have been used at organizations where you…
A: A compensation philosophy is nothing more than a formal declaration outlining the company's position…
Q: What are the parts of a compensation system, and what component(s) does Costco’s compensation system…
A: Ans// The compensation parts include: 401k benefits Insurance Healthcare Education Retirement…
Q: What are the basic requirements of an effective employee incentive pay plan?
A: Introduction In managing Human Resources a company needs to design its Incentive pay plan system…
Q: What are the different types of Compensation?
A: Compensation is described as the total of the non-cash payments and the cash payments that will be…
Q: Merit pay plans appear to be the most common form of compensation in the United States. Based on…
A: Merit pay is based on the sort of payment a company employs to reward higher-performance workers…
Q: What are some of the Contextual Influence on the Compensation System?
A: Compensation Compensation refers to the amount of money that is considered to be a fair value for…
Q: What are the differences and similarities about person-focused pay and job-based pay.
A: A salary structure is a major part of an organization's operations. The framework for recognizing…
Q: What are the Insights or ideas about the topic Compensation Management
A: Compensation Management refers to cash and non-cash rewards employee receive in exchange for their…
Q: Explain why it makes sense to use an output-based compensation system.
A: A compensation plan can be defined as the factor which keeps employees motivated to work and is…
Q: What are the types of pay systems that have low-motivation potential but provide equal increases to…
A: Compensation refers to the monetary amount which is given to an employee for his services that he…
Q: What are the internal factors to be considered in compensation strategic planning?
A: An orgnaization's compensation strategic planning is concerned with making nd managing compensation…
Q: What are some potential risks or limitations of performance- based pay systems?
A: In the past, there was large-scale standardized production to gain economies of scale. But now the…
Q: Your company has recently implemented a pay-for-performance model for compensation. This worries you…
A: Pay for performance model is the performance-based pay program where an employee gets paid…
Q: Why should HR leaders care about the objectives of compensation Management
A: Compensation management is a branch of human resource management that manages the compensation plans…
Q: What are the factors affecting employee compensation? How to develop a strategic compensation…
A: Compensation is a critical topic in Human Resource Management (HRM) since it influences the…
Q: What are four important issues that will shape compensation professionals’ work for years to come.…
A: Compensation is the amount which the company pays to its employees for doing a certain task.…
Q: What reforms have been introduced in executive compensation?
A: An appropriately created executive compensation plan not just assures companies to draw in and hold…
Q: How can you link compensation as best tool to retain the employees?Explain.
A: Compensation Compensation refers to the total cash and non-cash payments that a company offers to…
Q: Describe the components of total rewards. 2. List the strategic decisions that can guide the design…
A: Total reward refers to the reward that does not only gives monetary gains but also benefits like…
Q: 3. give an example of how job evaluation occurs in the compensation system. 4. give a sample…
A: Compensation is consists of pay or rewards which go to the employees for productivity in the…
Q: Explain how the expectancy theory and the equity theory relate to compensation.
A: Human Resource Management refers to the strategic approach of managing people effectively in an…
Q: What is the important of compensation management? Please explain, give an example and 1 theory.
A: Compensation Management : Compensation management is the type of management practice which deals…
Q: Explain what are the key pros and cons of time based pay plans?
A: A time-based compensation plan is one in which an employee is primarily compensated on an hourly…
Q: What are the key advantages and disadvantages of time-based pay plans?
A: A time-based pay plan is a plan in which an employee gets paid on an hourly basis mostly. This is…
Q: Are there any positive motivational consequences of tying compensation pay closely to firm…
A: Motivation is the mechanism used to initiate, drive, and sustain goal-oriented behaviors. If you…
Q: What are the different types of compensation? Explain each type.
A: The phrase ‘compensation’ mentions to all kinds of financial returns & tangible benefits that…
Q: Discuss the importance of compensation management in the workplace. Explain how compensation fits…
A: Compensation management refers to the monetary returns to the employees for their services and…
Q: To what extent is an organisation’s legal department involved in compensation planning, design,…
A: Let us understand the term used in this question- Organization's legal department- when ever we…
Q: Explain what are the 3 types of delays in terms of compensation and time adjustments?
A: Three Types of Delays include 1. Not Excusable DelayThe delays which cannot (or cannot be) excused…
Q: What are some ways that pay-for-performance schemes could backfire if acompany doesn’t set them up…
A: Pay for performance is a compensation model in which employees are paid according to their…
Q: importance of compensation management
A: The additional expected or unexpected benefits to the employees after they give good performance…
Q: What are the pluses and minuses of variable-pay programs from an employee's viewpoint? From…
A: Human Resource Management The fundamental method to manage the convincing and capable organization…
Q: Are employee benefits really necessary? Why?
A: Employee benefits refer to perks or fringe benefits, which are provided to employees apart from…
Q: Your company has recently implemented a pay-for-performance model for compensation. This worries you…
A: Pay for performance are those type of compensation plan under which the employees will be receiving…
Q: Identify and explain the 3 objectives of management compensation?
A: To achieve a goal, management entails teamwork and task management. Setting the company's agenda and…
Q: What are the 3 main types of delays in term of compensation and time adjustments. Explain each types…
A: The reasons for delays in large-scale development projects are various and varied; they include…
Step by step
Solved in 3 steps
- explain , what are the implications of implementing non-monetary forms of recognition and rewards as part of compensation packages?Why are employee benefits sometimes referred to as "indirect compensation"?What are the factors affecting employee compensation? How to develop a strategic compensation strategy?