Compensation Laws
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Provide examples of laws and regulations influencing total compensation.
Analyze similarities and differences in total compensation between this organization and other organizations in different markets. Provide at least two examples that illustrate such similarities and differences.
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Solution Summary
The solution identifies laws and regulations on compensation from Davis-Bacon Act of 1931 to McNamara-O'Hara Service Contract Act of 1965. It includes also a brief discussion and reasons on the variance of compensation in the Oil and Gas Industry and Broadcasting and telecommunications Industry.
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Federal, state, and local laws that influence total compensation:
Davis-Bacon Act of 1931
The Davis-Bacon Act (40 U.S.C.A. §§ 276a to 276a-5) is federal law that governs the Minimum Wage rate to be paid to laborers and mechanics employed on federal public works projects. It was enacted on March 3, 1931, and has been amended. Its purpose is to preserve local wage standards and promote local employment by preventing contractors who bid on public contracts from basing their bids on the use of cheap labor recruited from foreign sources (The Free Dictionary, 2013).
Walsh-Healy Public Contracts Act of 1936
The Walsh-Healey Public Contracts Act (PCA), as amended, establishes minimum wage, maximum hours, and safety and health standards for work on contracts in excess of $10,000 for the manufacturing or furnishing of materials, supplies, articles, or equipment to the U.S. government or the District of Columbia. All provisions of the PCA are administered by the Wage and Hour Division except the safety and health requirements, which are administered by the Occupational Safety and Health Administration (DOL, ...
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