Purchase Solution

Compensation Philosophy in an Organization

Not what you're looking for?

Ask Custom Question

In a 2-3 page paper, present a compensation philosophy for your current organization. This philosophy should be cognizant of the financial and cultural aspects of your organization (i.e., you cannot have a compensation philosophy where you "lead" the market if your organization does not have the financial resources). The philosophy itself should be no more than a short paragraph. The remaining portion of your paper should be devoted to statements that support your choice of that philosophy within your chosen organization.

Purchase this Solution

Solution Summary

Compensation philosophy in an organization is examined.

Solution Preview


Compensation Philosophy of my Current Organization

All companies with employees need to make determinations regarding how and what they should pay to their workers and when to provide things like increases, bonuses and other benefits & incentives (Ellis-Christensen, 2010). All these decisions of a business enterprise cannot be performed haphazardly as these involves the consideration of several aspects related with employees so they evolve with a compensation philosophy (Jackson, Schuler & Werner, 2008). A compensation philosophy is a real plan for how employees will be paid, when their returns will increase and when incentives are suitable.
By communicating a compensation plan, an organization can easily inform all of its employees regarding its compensation philosophy. A compensation philosophy is an organization's commitment to how it values its employees. A coherent compensation philosophy offers a frame of reference to the management and its employees at the time of negotiating salary ...

Purchase this Solution

Free BrainMass Quizzes
Operations Management

This quiz tests a student's knowledge about Operations Management

Marketing Research and Forecasting

The following quiz will assess your ability to identify steps in the marketing research process. Understanding this information will provide fundamental knowledge related to marketing research.

Basics of corporate finance

These questions will test you on your knowledge of finance.

Understanding the Accounting Equation

These 10 questions help a new student of accounting to understand the basic premise of accounting and how it is applied to the business world.

Introduction to Finance

This quiz test introductory finance topics.