...Organizational Objectives and Total Compensation in Different Markets Keith Hammond HRM/324 December 09, 2013 Professor Sharon Fletcher Organizational Objectives and Total Compensation in Different Markets There are a number of applicable Federal and State laws that have an effect on compensation within an organization, along with taxes paid on income. The way an organization determines the benefit plans and salaries of its employees are directly related to the guidelines that are produced from certain Federal and State laws. A well known law and one that is at the top of the priority list for organizations to adhere to is the Fair Labor Standard Act. Business organizations should be very familiar with this law. The law deals with the five major laws of compensation. They include minimum wage levels overtime pay, record keeping responsibility and the child labor act (Martocchio, Joseph J (2009). Through the years there have been adjustments made to the laws. Another law closely related to the Fair Labor Standard Act is the Equal Pay Act of 1963. This act restricts the difference in the salaries given to make and also female employees in the same position (Martocchio, Joseph J (2009). The act does not however restrict the system of seniority, the system merit and the system that rewards for performance. The act also does not pay attention to the exempt and non-exempt status of the employees. The laws that exist to protect employee is known as the consumer credit...
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...plan to compensate employees fairly and compliant with all the new laws that have come into effect in the last few years. With that said, there are a ton of diverse ways that an organization or entrepreneur can make mistakes when it comes to compensating his or her employees ethically and fairly. First, some of the ethical issues directly related to compensation plans are Pay Equity Laws such as the Equal Pay Act of 1963 and the Lilly Ledbetter Fair Pay Act that occurred in 2009 due to responses concerning the decisions of The United States Supreme Court’s ruling to restrict statutes of limitation based on sex discrimination (Mathis, Jackson, Valentine, & Meglich, 2015). The Lily Ledbetter Act helped guarantee an employee’s 30 days to file a claim against discrimination that was previously outlined in The Equal Pay Act....
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...Compensation and Benefits Strategies Recommendations May 20, 2014 Steven Colon James Thompson Oscar Caldera University of Phoenix HRM/531 Robin Sully Compensation and Benefits Strategies Recommendations The following paper will be about the development of the compensation and benefit recommendations for Mr. Bradley Stonefield. This development will have a market evaluation with researches on what companies in the relevant market are providing to employees from a total compensation perspective. With the results of the research, we will then take a look at the compensation structure. With these two outcomes, we will be able to recommend a position in the market. We will also be creating a total compensation and benefits strategy, consider the use of performance incentives and merit pay to recognize and engage employees. In creating these compensations we will have to identify laws related to the benefits and pay program. Results for the Market Evaluation The results for the market evaluation will show that it will be very competitive for a small startup business to hire qualified and experienced limousine drivers in Austin, Texas. According to the Yellow Pages (2014), Austin has over 113 limousine business competing in the same market. With these many companies operating in the same market may result in several issues when it deals with human resources (HR). One of the issues with this type of market is that should assume high employee...
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...Assignment 4: Recognizing Employee Contributions Strayer University Alberta Thrash, PhD HR Management Foundations Incentive Pay The main goal of employee incentives is to motivate employees to achieve their highest performance possible. Human Resources must first determine the needs of the employees. Once those needs have been assess, then they must decide on an incentive plan that focuses on those particular needs. “Incentive plans must showcase what the potential may be if the purpose is fulfilled” Kishore & Rao, 2013). For this particular company one method that could be used to determine incentive pay is by basing it on individual’s performance. First you would identify who your top performers may be. Human Resources should communicate with them and inform them of the incentive plan for performance bonuses based on sales for the quarter. Even though this is an individual based performance plan it can also be applied to groups within the organization. For example, the internet sales team of the company would participate in a different form of performance bonuses based on the teams internet sales achieved. For individuals, it motivates them to self-satisfying goals set by the company and shows them that they are assets. For groups, it can help to encourage and motivate teamwork. In regards to the company’s performance, this plan enforces an increase in the profits of the business. Another option available is to pay individuals based on group performances. Due to...
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...Compensation is viewed differently from different groups of people. The definition of it will change depending on the perspective of a manager, employee, and stockholders. Compensation management is an employer’s behavior that creates internally and externally competitive practices to pay employees (Milkovich, Newman, & Gerhart, 2014). Marriott International Inc. is a well-known hospitality company with about 3,800 properties that serves customers around the world. The company has been on the 100 Best Companies to Work For list every year since its creation in 1998. According to CNN money website in 2013 it was ranked number 64. The company is headquartered in Bethesda Maryland. Their 2013 Annual Report has not been published yet, but based on the 2012 Annual Report, their revenue was over $12 billion (www.money.cnn.com, 2013). According to 2012 Annual Report their goal is to offer their associates fair treatment and opportunities for personal and professional growth. Keeping employees happy will ensure their reputation for excellent customer service and satisfaction therefore, the company is constantly seeking creative ways to reach its goals. The organization’s vision is to be the number one hospitability company in the world. Their core values include: putting people first, dedication for customer satisfaction, how to do business and serve the world (www.investor.com, 2014) For global organizations like Marriott, compensation can be challenging. In this paper...
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...training and development, compensation and benefits, labor relations and global HR. This report will provide a summary of each function, the role of the Human Resources Manager plays, and the laws that affect each function. Recruiting and Selection One of the most important functions of the Human Resources department is the recruitment and selection process. The process, good or bad, has a direct affect on the business. The Human Resources Manager is responsible for planning, executing, and evaluating the recruitment and selection process. Through this process, he will perform interviews and pre-employment screenings, select employees, oversee the hiring and on-boarding process, monitor retention as well as execute terminations (Brunot, n.d.). There are multiple ways to source candidates. Many employers choose to promote from within first, only opening positions up to the public after all internal resources have been exhausted. It is common in today’s market to use recruiting sites such as Monster, CareerBuilder, and Indeed. The sites allow the potential employer to list available positions. Potential employees can post a resume for employers to view. Although traditional sources, including the newspaper advertisements and job fairs are still used, many employers are monitoring employment changes by their competitors, hoping to recruit employees who already have industry knowledge (Mayhew, n.d.). In an effort to gain insight and align potential employees with the job at hand...
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...Human Resources Management- HCS341, taught by Alejandra Sipion. Safety, legal, and regulatory requirements in any organization is the most important law because the department involves developing, employing, utilizing, managing and understanding the staff in an organization. According to Gomez, Mejia, Balkin, and Cardy (2010) legal concerns can play an important role in staffing, particularly in selection. Many legal restraints, particularly federal legislation such as Department of Labor, the U.S. Equal Employment Opportunity Commission affects the Human Resource Management process. This paper will discuss the effects of legal, safety, and regulatory requirements have on the Human Resource Management process. Laws and regulatory requirements are currently in place for state and federal divisions to standardize and promote workplace safety. Organizations with extensive safety programs have reduced number of accidents keeping employees safe, decreased workers’ compensation claims and lawsuits and lesser accident-related expenditures for employees who go out under worker’s compensation. (Gomez-Mejia, et al, 2010, p. 511). The Human Resource Management department must take into consideration when hiring new employees the many legal requirements that are set in place by the United States government , state, and federal laws. The Civil Rights Act of 1991 prevents discrimination against race, color, religion, sex, and national origin. As a result, Human Resource management departments...
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...Chapter 1- The Pay Model Compensation: Does it matter? Compensation is one of the most powerful tools organizations have to influence their employees. General Motors (GM), like Chrysler, has, for decades, paid its workers well—too well perhaps for what it received in return. Having labor costs higher than the competition, without corresponding advantages in efficiency, quality, and customer service, does not seem to have served GM or its stakeholders well. On the other hand, Nucor Steel pays its workers very well relative to what other companies inside and outside of the steel industry pay. But Nucor also has much higher productivity than is typical in the steel industry. Wall Street financial services firms and banks used incentive plans that rewarded people for developing “innovative” new financial investment vehicles and for taking risks to earn themselves and their firms a lot of money. Troubled Asset Relief Program (TARP), which included restrictions on executive pay designed to discourage executives from taking “unnecessary and exces-sive risks.” In an opinion piece in The Wall Street Journal, entitled “How Business Schools Have Failed Business,” the former director of corporate finance policy at the United States Treasury wrote that “misaligned incentive programs are at the core of what brought our financial system to its knees.” 7 He says that we “should ask how many of the business schools attended by America’s CEOs and directors educate their students about the...
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...practices and equal opportunity employment law relates to JetBlue and how these practices and laws can be beneficial to all of the organization's human resources areas but also how they can be beneficial to JetBlue as an organization with a bright future. Hiring Practices JetBlue already has impressive hiring practices because they focus on finding the right people with great attitudes. However, there are three national equal employment laws that have been identified that will impact JetBlue's hiring practices. The first law identified is the Age Discrimination Act of 1967 which prohibits "employers from discriminating against individuals who were 40 to 65 years old" (Mondy, 2012). In making sure not to discount hiring people over the age of 40 whether they have previous airline experience or not can benefit JetBlue as an organization because many workers that are over the age of 40 have a great work ethic along with great customer service skills as noted by CVS executive, Stephen Wing (Mondy, 2012). This also creates diversity in the workplace which only enhances the organization. The second law identified is Title VII of the Civil Rights Act of 1964 that was amended in 1972. Title VII prohibits an employer from discriminating "in hiring, firing, promoting, compensating, or in terms, conditions, or privileges of employment on the basis of race, color, sex, religion, or national origin" (Mondy, 2012). However, this law also makes it illegal for an employer to retaliate...
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...Human Resource Management Human resource management deals with programs that help manage the employees that work in a company or organization. Human resource management might be known by different names depending on the employer. For example it is not uncommon for human resource management to be called the personnel department, employee development, or industrial relations (Ivancevich, 2010). However, the name does not matter as much as the many functions that human resource managment performs, which makes this department strategically important for any company or organization. Many employees may think that human resources is simply there for record keeping and filing, but they are responsible for several major functions that include: Equal Employment Opportunity enforcement, human resources planning, human resources development, compensation and benefits, safety and health, and employee and labor relations. One of the first major functions of human resource management is to ensure that all current and potential employees are treated fairly according to the Equal Employment Opportunity Commission laws. One of the areas that fall within the Equal Employment Opportunity Commission laws is Affirmative action. Affirmative action is the actions appropriate to overcome the effects of past or present practices, policies, or other barriers to equal employment opportunity (Ivancevich, 2010). This area of the human resources management function is very important because it ensures...
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...any area of compensation and benefits Compensation and benefits are a set programs established by organizations that reward employees for the services they have rendered for the benefit of the organization. These programs are usually designed with several objectives in mind. Organizations establish these programs to motivate the employees into increasing their performance to their sheer best, attract the best employees to work for the organization, and extend the period which the employees will continue to offer their services, hence, help in retaining employees in the organization for a longer period. The employee benefits programs provided by organizations include life insurance, stock ownership plans, health insurance, vacation, leave, contributions to retirement plans and disability insurance. Benefits add value to the returns an employee receives for their contributions to an organization. Benefits are an addition to an employee’s payment. Benefits can be both intangible and tangible, benefits such health insurance, vacation, stock ownership plans, leave, and contributions to retirement plans are tangible. However, having a well-furnished and conducive office, getting appreciations from the boss, and receiving a promotion can be considered to be intangible benefits. Profit sharing or stock options are also considered as compensation in some instances. These types of compensations are usually provided in the form of executive compensation. Executive compensation is compensation...
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...World Wanda T. Diggs Professor William Stone Law, Ethics and Corporate Governance – LEG-500 March 4, 2014 Abstract Pharmaceutical companies are trusted to provide drugs that are fit for human use. Consumers rely on these drugs for their wellbeing. Drug costs are prohibitive for many in the United States and consumers want to be assured that the drugs they are prescribed accomplish their intended purposes. When pharmaceutical companies operate unethically and circumvent the law, public health is at risk. It has become imperative that the government enforce the regulations that are in place and modify weak legislation to protect the public. PharmaCARE is a successful pharmaceutical company with a reputation of being socially responsible. PharmaCARE developed its brand by offering free and discounted drugs to low-income consumers and sponsoring healthcare educational programs. The company also launched community-based initiatives that focus on health care education and environmental concerns. While PharmaCARE enjoyed the fruits of its good reputation, the company’s moral fabric was unraveling into threads of greed, deceit and criminal behavior. PharmaCARE executives are a despicable bunch driven by greed as they go about their responsibilities of earning company profit. The company intends to make as much money as possible using minimal resources – even if that means ignoring their responsibility to protect their employees and the public. PharmaCARE made several important...
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...11, 2014 Legal, Safety, and Regulatory Requirements Introduction Law and regulations are in place to systematize and encourage workplace safety. According to the bureau of labor statistics, between 2010 and 2013 here in Texas there average of workplace injuries was 433 each year and between the years of 2008 to 2011, an average of 564 work – related homicides ("Fact Sheet, workplace shootings and injuries," 2013, para. 2). As employees we have a right to a safe workplace according to the OSH Act (Occupational Safety and Health Act of 1970). “The OSH Act was passed to prevent workers from being killed or seriously harmed at work. The Act created the Occupational Safety and Health Administration, which sets and enforces protective workplace safety and health standards ("You have the right to a safe workplace," 2013, para. 1) This paper reviews the effects of legal, safety and regulatory requirements. Deciphering what is the standards for common sense and compassion and has it been replaced with litigation in the workplace. What are the employee-related regulations in the workplace? Legal, safety, and regulatory Workers are entitled to a workplace that is not subject to risk and harm. Human resources managers follow the important standards of OSHA, limit the amount of hazardous chemicals in the workplace. Require the use of specific job-related safety practices and equipment. Educate employees on the information about hazards chemicals, standards for prevent of harm...
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...ESTABLISHING A COMPENSATION AND BENEFITS PACKAGE LEONARD ANTHONY 3085841 Questions I would have to consider before establishing compensation and benefits package are; what is the purpose of the business I am in? Is it a high turnover industry? Is the industry targeted employees targeted for short-term employment? Am I in the peoples business or is my business predicated on the performance of employees? Once those questions have been answered, I would be able to establish a compensation and benefits package. For this paper I will take the later that my industry or field does experience turnover but it consist of employees that are committed to the company and looking for long term employment. The first things I would have to consider are my direct (cash) and indirect (benefits) compensation package. My direct compensation package would consist of salary, hourly wages and bonus. Factors that would affect my direct compensation package are supply and demand, labor unions and the company’s ability to pay and its productivity and government regulations according to (Montana & Charnov, 2000, p 222). Supply and Demand dictates the availability of qualified people within the area to do the job. If the economy is doing well then their will be great competition in attracting qualified candidates to do the job, this means management would have to pay a higher dollar amount to qualified candidates. If the market is slow then there will be a surplus of qualified and candidates...
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...Legal, Safety, and Regulatory Requirements Paper In examining the effects of legal, safety, and regulatory requirements, and its impact on the human resource department process as they relate to many different parts of operations within an organization it was found that these entities impact the human resource department by ensuring the rights of the employer and employees are covered by the National Labor Relations Broad; its purpose is to protect the rights of the employee and the employer. The Equal Employment Opportunity Commission; it is a protection which there cannot be no discrimination that is based on race, color, national organ, religion, sex, age, and disability. Safety and Health Administration; has the role in which issues standards in controlling employees that are exposed to health and safety hazards that are in the work place. According to the Bureau of Labor, statistics show that more than 4.1 million people were hurt or injured on-the-job in 2006 and 5,488 were killed in 2007 (Gomez-Mejia, Balkin, & Cardy, 2010). Laws and regulatory requirements are currently in place to standardize and promote workplace safety. Organizations with extensive safety programs have reduced number of accidents, decreased workers’ compensation claims and lawsuits and fewer accident-related expenses (Gomez-Mejia, 2010). Many Human Resources experts and managers have implemented human resources strategies to comply with federal regulations to supervise efficiently...
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