Explore BrainMass

Explore BrainMass

    Compensation Strategies

    Companies must take compensation management seriously or else they are at risk of losing talented human capital.

    Compensation can either be the pay that an employee receives for their work that they perform or an extra reward on top of normal compensation. Compensation can also be recognition, extra vacation time, or some other benefit that an employer offers its employees.

    Compensation management is a huge expense for companies, and the proper distribution is always a concern; managers want to ensure that high performing employees receive bonuses while under achieving employees receive no reward until they improve.

    Compensation is usually codified in a contract that states how much an employee should be paid for the work that they perform¹. For some employees, compensation for the work they perform is the most important motivating factor that they can receive. Other employees see extra vacation time, recognition, and other forms of compensation as highly motivating factors.

     

     

    Reference:
    1.  Compensation Management - Meaning and Important Concepts. Retrieved from http://www.managementstudyguide.com/compensation-management.htm

    © BrainMass Inc. brainmass.com April 19, 2024, 3:39 am ad1c9bdddf

    BrainMass Solutions Available for Instant Download

    Employee Engagement and Disengagement

    Engaged Workforce Describe an experience when you felt engaged at work. What are the indicators that a team or group in NOT engaged? What causes a person to disengage? What are some behaviors or strategies that you can use to help keep your team engaged? Why is an engaged workforce vital to the success of an organ

    After Tax Income and Medical Costs

    Suppose that Helen's marginal income tax rate is 28 percent. Compare her after-tax income and her group medical costs under three scenarios: a. She receives $45,000 in salary and pays $2,500 for individual medical coverage. b. She receives $43,000 in salary and group medical coverage on a noncontributory basis with the emplo

    Compensation & Benefits

    1. Discuss ethical and business issues related to terminating or limiting retiree benefit plans in Chapter 9 or 11 bankruptcies. Use the Detroit and Delphi bankruptcy experiences as examples. 2.Do local laws requiring "fair wage" clauses (i.e. wages have to equal those paid to area union contractors) benefit American worke

    Summarize the theories of why we dream

    HW 4 is associated with Chapter 4, Objective 7: Summarize the theories of why we dream. (Pages 164-165) For this HW, first consider the three theories of why we sleep (summarized in Table 4.2). Based on your opinion, which theory makes the most sense? Which of these theories helps us best understand why we sleep? Secondly,

    Comp and Benefit Solution

    Your CEO has just read an article in THE WALL STREET JOURNAL that discussed how employee benefits costs are on average 40% of total payroll costs. To save money, he suggests the company fire the entire benefits staff (saving hundreds of thousands of dollars per year) and simply eliminate all non-legally required benefits. In e

    Human Resources: International

    Request assistance with the following scenario. As head of Human Resources of a major company, your organization is moving into international operations. Describe how you will approach the issue of strategic compensation in an international setting. What are three important issues you need to address here? Require 2-3 para

    Compensation and benefit practices in the U.S: Timeline

    Can someone help me. I have a assignment to create a timeline illustrating the major historical landmarks leading up to today's compensation and benefit practices in the U.S. I am very confuse in what to do. If anyone can help I would really appreciate it. Thanks

    Analyze the Patient Protection and Affordable Care Act

    Using the background information below, in 400 words and 2 scholarly references, Analyze the Patient Protection and Affordable Care Act (and the Health Care and Education Reconciliation Act of 2010) Consider the main provisions of the law and the issues it is trying to address. 1. Identify 1 central economic and 1 social issue

    Employee Behavior in Various Businesses

    You may deal with employees who work for various business and companies from time to time. Do you feel that an employee�s compensation plan affects how he or she behaves to one another and to his or her customers? Why or why not? If the compensation plan does indeed affect behavior, how can the plan be improved?

    Why Pay Incentives Work

    You are a supervisor in a company that is a low payer relative to your competitors. What are some things that you can do to increase the likelihood that workers will feel fairly treated? Do you feel that doing these things will improve the manner in which the workers treat internal and external customers? Why or why not?

    Maximum Rate of Pay

    Is There a Maximum Rate of Pay? Ted Smith, the Total Rewards Manager for Front Appliance Company, was a pretty relaxed and friendly guy—an easy-going manager. Although he was a no-nonsense, competent executive, Ted was one of the most popular managers in the Company. This particular morning, however, Ted was not his usua

    Unions: Good or Bad?

    Do you believe unions still add value to the workplace? Why, or why not? Would you rather work for a unionized or non-unionized employer? Why, or why not?

    Trends in Compensation Planning

    Using external resources to gauge compensation levels may result in more equitable compensation planning. Assess how you would integrate the data from the PayScale Website or similar sites into your compensation planning. Specifically, indicate three measures to ensure that your compensation scale is competitive. (show you pay s

    Recommendations for a compensation plan

    For this task, I need you to work with a team. You will only be able to work with one client, though, so everyone in your team must agree on which client to work with. I need you to develop some compensation and benefit recommendations for the client. Don't forget to check the Client Communications link to see a copy of my com

    Conducting Compensation Surveys

    What is the purpose of a survey? How would you design a survey for setting pay for welders? How would you design a survey for setting pay for financial managers? Do the issues differ? Will the techniques used and the data collected differ? Why or why not

    Government Mandated Benefits: Required Payroll Items

    Currently all employers are required to offer employees mandated benefits such as Social Security deductions and disability benefits, Unemployment insurance, Medicare deductions, and Workers' Compensation. There may be more depending upon the size of the employer. Do you think all employers regardless of size should be required

    Total Compensation Package

    A Compensation package can include salary, bonuses, health care plans, and a variety of other types of compensation. Envision an organization of your choice and develop a mission statement that defines what type of organization you choose (manufacturing, retail, sales, etc.) Based on research you conduct into the type of organi

    Salary and Compensation

    Many would argue that if an employee receives a decent salary, he or she will be satisfied and remain with the organization. What are your thoughts on this statement? Does compensation motivate behavior? Do people join a firm because of pay? Do people stay in a firm or leave a firm because of pay? Do employees agree to develop j

    Considerations of Incentive Pay Plans

    Identify and explain the five key factors employers should consider when designing an incentive pay plan. Why are they an important consideration of the process? Do you need all five to be successful?

    Person-focused Pay Program

    Can I get someone opinion on this discussion question? I only need a 100 word response. It for a project that i am doing I need other personal opinions Should more employers utilize the person-focused pay plans? Why, or why not? What are the advantages and disadvantages?

    Employers Controlling Benefit Costs

    I need help and additional information for the following: 1. How health insurance benefits might impact the organization's overall strategic goal-setting process. 2. How a business can control its health insurance benefit costs while using the benefit package as a recruitment and retention tool. 3. Give practical examples a

    Merit vs. Seniority Pay System

    Discuss the advantages and disadvantages of the seniority pay system and the merit pay system. Which one do you think is better, and why? Are there certain employers that should favour one or the other? Which one have you worked with before?

    KSAs and Strategic Skills Analysis

    Discuss the relationships among KSAs (knowledge, skills, and abilities), job analysis, organizational strategy, and HR activities. What are the KSAs needed by the firm to achieve the strategy and what KSAs are currently resident? How does the firm grow its KSAs to meet the strategic challenge?

    HR: Protecting Employees

    Executive Order 11246: create a realistic scenario that explains the protections it provides. Make sure you include specifically who is covered by the order and what action is prohibited.