For many people, today's pay issues have become synonymous with ethics issues.Where is the ethical bottom line in compensation policy? Propose an ethical standard or statement as a model for any company. Try to build consensus on what language best reflects the ethical standard for paying employees today. Do not limit your discussion to the United States, especially considering the global nature of our economy.© BrainMass Inc. brainmass.com October 24, 2018, 11:14 pm ad1c9bdddf
The ethical standard for paying employees today in the context of global nature of our economy is to ensure that the employees of global companies get a minimum wage that is the lowest hourly, daily or monthly wages the company's may ethically pay to employees or workers should be the higher of minimum wage the employer may legally pay in either the host country or the home country.
Let us take a practical example; an American company is having production facilities ...
This solution gives you ethical standards required in compensation.
1. Do you think exceptionally high pay to CEO's is economically justified? Why or Why not?.
2. A. Should a nation's income be distributed to its members according to their contributions to the members' needs? Should society attempt to equalize income or economic opportunities? Are the issues of equity and equality in the distribution of income synonymous? To what degree, if any, is income inequality.
B. Do you agree? Or disagree? Explain
3. Does your organization have wage and salary increase guidelines? If so, explain the guidelines, and indicate how closely they are followed. If your organization does not have wage and salary increase guidelines, set forth and explain your own guidelines that could aid your organization's management.
4. Explain in detail how your organization rewards employees for exceptional performance.
5. A Explain in detail how your organization rewards employees for exceptional performance. B. Do you agree with the argument? Why or why not?
6. Explain in detail how your organization rewards employees for exceptional performance Will they "look different" and "act different" in the future. Explain.