...Because pay is important both in its effect on employees and on account of its cost, organizations need to plan what they will pay employees in each job. An unplanned approach, in which each employee's pay is independently negotiated, will likely result in unfairness, dissatisfaction, and rates that are either overly expensive or so low that positions are hard to fill. Organizations therefore make decisions about two aspects of pay structure: job structure and pay level. Job structure consists of the relative pay for different jobs within the organization. It establishes relative pay among different functions and different levels of responsibility (Noe, Hollenbeck, Gerhard, and Wright, 2009). Base pay, or base wages, is the amount of money that an employee earns for performing duties which excludes any bonuses, raises, or other allowances. Base wages typically depend on the job and the employer. Some companies offer a salaried base pay, while others pay an hourly one. Salaried employees are often given a base amount each year. Hourly employees’ wages can fluctuate depending on how many hours are worked within a pay period (Noe, Hollenbeck, Gerhart, and Wright, 2009). Base pay often depends on wage standards within a particular country, state, province, or city. It is usually also specific to a particular industry and market. Some organizations have base pay charts to explain and outline the pay structure for everyone who works for the company. The different branches of the...
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...The Comparable Worth Debate March 20, 2012 The Comparable Worth Debate Comparable worth means getting the same amount of pay for jobs of equal value in an organization. This is completely different from the concept of “equal pay” which means that workers who perform the same duties with the same job title get the exact same wages. Comparable worth is a recognized strategy for determining job compensation. If an organization is going to put a specific value on a function, it should also put the same value on other functions that are of equal importance. Comparable worth remains an undeveloped concept. Many court cases have been heard in reference to comparable worth but the suits were unsuccessful as the procedure is not clear. (The Law and Compensation and Benefits, 2009) If a company values a position, they should show the employees that they are valued and appreciated through salary and wages. I am certain that most employees would agree. As the HR department’s director, James Bledsoe, should consider the issue of comparable worth for reasons that involve legal and ethical consequences as well as the organizational structure. The pay system that a company uses reflects that company’s culture. The culture determines the policies and guidelines that are in place, the company’s expectations, and the way that employees carry out the company’s mission. Employees are more likely to coordinate their behavior with company goals without the need for vast procedures and mounds...
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...Introduction: The debate in this study is that of whether or not to use comparable worth as the basis for future pay adjustments. Comparable worth, as defined by Merriam-Webster, is the concept that women and men should receive equal pay for jobs calling for comparable skill and responsibility or that is of comparable worth to the employer. To further expand on this, the term comparable worth describes the idea that gender biased jobs should be reanalyzed to determine their worth to an employer. In theory, the goal of comparable worth is to raise wages for traditionally female-biased jobs to the level of those for comparable male-biased jobs. Comparable worth should not be confused with equal pay for equal work. Comparable worth policies promote equal pay for comparable work. Facts: There has been a growing effort in the past few years to level the playing field with respect to pay in comparable jobs. As outlined previously there is a stark difference between comparable jobs and equal jobs. There is already a set of laws on the books ensuring that women are to be compensated as a man in the equal jobs. Comparisons can not be made between individuals holding the same job at different companies(1). This set of laws in called the Equality Pay Act of 1963(1). There is however, no such law stating that men and women should be compensated as to the terms of the concept of comparable worth. Under comparable worth, jobs would be rated, and points would be assigned according...
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...percent. They further agreed to introduce a job evaluation program which would evaluate the nursing and secretarial jobs based on comparable worth and that results of the study would be utilized as the basis for any future pay adjustments. As a result of this the staff at Twin Oaks has come to demand similar wage increases, as prior to the wage increase the compensations between the hospitals was very similar. In addition, union organizer had been meeting with employees and handing out flyers that illustrated findings from a comparable worth study. Meetings with union representatives, the flyer and the newly agreed demands from the staff at Lexington Memorial Hospital created some issues at Twin Oaks Hospital. The director of personnel, David Hardy is now in a dilemma over how to go about keeping Twin Oaks employees happy while remaining competitive in the market since Twin Oaks is in the private sector. Mr. Hardy informed James Bledsoe, the director of the hospital of the situation. As a result of the situation Mr. Bledsoe requested a recommendation for action within three days. Prior to creating the action plan Hardy met with two top aides, Janet Sawyer and Charles Cooper for an informal discussion of the situation. Essentially the biggest issue is the debate over the comparative worth model for determining pay scale. The concept of comparable worth (sometimes called pay equity) is not the concept that women and men should be paid equally...
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...(Caudron, 2004). For the past three decades Fitz-enz has, along with a growing band of kindred spirits, campaigned tirelessly to improve the state of HR measurement and to help both HR professionals and senior executives understand its importance. These efforts started out at the nuts and bolts level—creating definitions for basic HR metrics such as compensation, staffing, hiring and retention. This work laid the foundation for gathering comparable data across organizations, which in turn, enabled the benchmarking of HR metrics. Over the years, a number of scholars and practitioners expanded the benchmarking of HR metrics to include investments in training and developing employees, as well as in a broad array of other HR policies and practices. Refining and improving the benchmarking of HR metrics remained a primary area of focus throughout much of the 1980s and 1990s. This benchmarking focus, while helpful in informing HR professionals about how their organization’s HR metrics stacked up to comparable or best-in-class organizations, provided little by way of actionable business intelligence on how to gain competitive advantage through people. It also contributed to an often unhealthy belief by HR professionals in simple one-size-fits-all solutions: something to the effect of, “If we can just look more like our competitors on some standard HR metrics, then we have done our jobs.” During the past decade, this has begun to change. Advances in the...
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...------------------------------------------------- Compensation Management Compensation Management is an organized practice that involves balancing the work-employee relation by providing monetary and non-monetary benefits to employees. Compensation includes payments such as bonuses, profit sharing, overtime pay, recognition rewards and sales commission. Compensation can also include non-monetary perks such as a company-paid car, company-paid housing and stock options. Compensation is an integral part of human resource management which helps in motivating the employees and improving organizational effectiveness. Total compensation has three parts: Base compensation The fixed pay an employee receives on a regular basis, either in the form of a salary or as an hourly wage. Pay incentive A program designed to reward employees for good performance Benefits: sometimes called indirect compensation. Benefits encompass a wide variety of programs (for example, health insurance, vacations) Importance of Compensation Management A good compensation is must for every business organization and helps in the following way: * It tries to give proper return to the workers for their contributions to the organization. * It imparts a positive control on the efficiency of employees and encourages them to perform better and achieve the specific standards. * It forms a basis of happiness and satisfaction for the workforce that minimizes the labour turnover and confers a stable organization...
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...Jacob Frederick 5-29-12 Buller Composition II Marijuana: Medicine or Menace? I have had strong feelings about this issue before it was even brought up as a topic for debate in our class. My opinion on the topic has not changed in the slightest, but I did learn a lot of interesting details concerning it. I have always felt that marijuana should be legalized, or at the very least, people with serious medical conditions should have access to it. And marijuana doesn’t even have to be legalized in my opinion, but it should definitely be decriminalized. I don’t think anyone who wants to smoke a plant that they grow themselves should have to suffer consequences, considering they are responsible in their recreational smoking. I do feel that if it were legalized, that there should be an acceptable age limit to buy and/or consume marijuana, comparable to that of alcohol. There are beneficial as well as harmful effects concerning marijuana, but that goes for a lot of things people do in everyday life. And I feel that a lot of time has been spent shining the spotlight on the harmful effects of marijuana, while little research has been done or even allowed, on the benefits of marijuana. While preparing for the debate, I encountered many sources on each end of the spectrum; including some in the middle. Many of the sources I looked at seemed rather credible, but others were most definitely biased. One example of a blatantly biased comment was, "Most pot smokers drink alcohol heavily...
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...included in this publication can be accepted by the author or publisher. ISBN 0 85406 802 3 © RICS May 1997. Copyright in all or part of this publication rests with the RICS, and save by prior consent of the RICS, no part or parts shall be reproduced by any means electronic, mechanical, photocopying, recording or otherwise, now known or to be devised. Reprinted 2001 Printed by Quorn Litho Contents Information Papers Executive Summary Preface 1 1.1 1.2 1 .3 2 2.1 2.2 2.3 3 3.1 3.2 3.3 3.4 3.5 4 4.1 4.2 4.3 4.4 5 5.1 5.2 6 6.1 6.2 6.3 7 7.1 7.2 7.3 8 8.1 8.2 8.3 4 5 7 Valuation and Calculation of Worth A discussion of the role of the valuer and the distinction between valuation, appraisal and calculation of worth. Introduction Valuation and Calculation of Worth Pricing Models-Valuation 9 9 9 10 Appraisal Mathematics A study of present value theory, net present value and internal rate of return. Introduction Net Present Value (NPV) Internal Rate of Return (IRR) 11 The Valuation of Rack-rented Property A comparison of DCF and conventional approaches to...
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...Devonne Waters Professor Jessee 27 February 2013 Collegiate Payday For quite some time now, there has been a big debate about whether or not college athletes should be paid. Some people, like author, Kristi Dosh, believe that a scholarship should be payment enough (Dosh 52). After all, a scholarship can be easily worth $15,000 - $25,000 or more per year, plus a career after college that can be worth a million dollars over a lifetime. Additionally, student athletes receive all kinds of perks while they are in college, like staying at fancy hotels, being seen on national television, and all of the notoriety that goes with being an athlete. It is hard to put a price tag on all of that. However, considering the fact that certain college sports generate millions of dollars for college athletic programs, many people believe the athletes are being used. If the average football scholarship is worth $20,000 per year, yet the university gains $70,000 per year in revenue per scholarship player, the university will profit $50,000 per year, per scholarship player, or $200,000 over a four year period (Spurrier, 12). The NCAA should establish a rule that gives every college athlete a $1,000 monthly allowance, because college athletes cannot use their scholarships to pay for their many expenses. A story that was told in one of Dr. John Acquaviva’s articles was about a certain player named Roy Finch that spoke out on the topic of college athletes receiving payment. Roy Finch sent out a tweet...
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...(either through a facility or by reimbursement) 9. Supplemental unemployment 10. Prepaid legal 11. Severance pay 12. Apprenticeships and training 13. Scholarship (funded) 14. Death benefits other than life insurance 15. Educational assistance programs 16. Group legal services plan In addition to common benefits like vacation pay, holiday pay or overtime premium pay. I work in the public sector so comparing the public sector-versus-private sector taking into consideration the compensation cost of lifetime compensation public-versus-private sector pay and benefits. When total compensation is based on years worked the divide between the public and private sectors increases significantly. While preretirement compensation levels were comparable between the two sectors the retirement benefits of public sector employees are far greater than their private sector counterparts. These postemployment benefits earned over a lifetime led to the higher total compensation for the public employee. Part of the reason total lifetime compensation is more for the public employees (both with and without social security benefits) when compared with their private sector counterparts is twofold: Public employees are able to retire on average 5 years earlier than their private sector counterparts; and there were more generous retirement payouts in the public sector. In addition, the retirement benefits of public sector employees significantly outpace benefits received for their private sector...
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...said, the relief need of places such a Bengal is far worse than what we have in the United States. Any of Singer’s attempts to change the views of charity vs. duty seemed very radicle. To say we all have an obligation to assist in every situation is absurd. Everyone can agree that suffering and death from lack of food, shelter, and medical care is bad. If we have the power to prevent these bad things, are we not obligated to sacrifice everything we can to do so? This seems clear that morally we are obligated to prevent things we have the power to prevent. Yet there are so many situations that people make exceptions on and where morality and reason is challenged. Singer gives a scenario, a child drowning in a pond; you sacrifice the $70 worth of clothes that you are wearing to save the child. Then he says child in Bengal is in need of food, shelter, medical care, and $70 would go a long way for this child to also save its life. Yet people are less likely to send money through charities to save the starving Bengal child due to proximity. Singer believes the moral answer would be the same for both scenarios. The difference between these two scenarios is the child in the pond depends on you for help. With the child in Bengal, there are other people, richer people that can assist. But when you add other people into the scenario with the...
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...ROSETTA STONE: pricing the 2009 IPO Teaching Note This case examines the April 2009 decision of Rosetta Stone management to price the initial public offering of Rosetta Stone stock during one of the most difficult periods in capital-raising history. The case outlines Rosetta Stone’s unique language-learning strategy and its associated strong financial performance. Students are invited to value the stock and take a position on whether the current $15 to $17 per share filing range is appropriate. The case is designed to showcase corporate valuation using discounted cash flow and peer-company market multiples. The epilogue details the 40% first-day rise in Rosetta Stone stock from the $18 offer price. With this backdrop, students are exposed to a well-known finance anomaly—the IPO underpricing phenomenon—and are invited to critically discuss various proposed explanations. The case provides opportunities for the instructor to develop any of the following teaching objectives: * Review the institutional aspects of the equity issuance transaction. * Explore the costs and benefits associated with public share offerings. * Develop an appreciation for the challenges of valuing unseasoned firms. * Hone corporate valuation skills, particularly using market multiples. * Evaluate the received explanations of various finance anomalies, such as the IPO underpricing phenomenon. Study Questions 1. What are the advantages and disadvantages...
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............................................................................ Page 6 Conclusion …................................................................................................ Page 7 Bibliography …............................................................................................. Page 9 Introduction Marijuana is known to be the most used illegal drug in the world, with 17.4 million past-month users in 2010 (National Survey on Drug Use and Health, 2010). The topic of legalizing marijuana is one for the masses, because almost everyone has an opinion on it, or at least something to say about it. The debate about whether to legalize marijuana has been going on for quite some time, but in the last could years, people have been beginning to understand the effects it could have on our economy in a positive way. The debate that many people bring to the table is one more related to the criminal aspect and health related concerns. While I am not trying to diminish their opinions, I am saying that there is a much more important aspect related to the legalization of marijuana, one related to economic growth, less money spent on police enforcement, and increased tax revenue. Economic Growth The unemployment rate has been a huge topic of conversation for the past couple of years,...
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...This is apparent in a debate turned feud with Mr. Rochester about whether Jane should leave or not and why: “Do you think, because I am poor, obscure, plain, and little . . . And if God had gifted me with some beauty and much wealth, I should have made it as hard for you to leave me, as it is now for me to leave you . . . stood at God’s feet, equal,—as we are!” Jane makes specific mention of being “poor, obscure, plain and little”. This emphasizes the idea of a woman’s worth coming from beauty. Furthermore, she refers to beauty and wealth as gifts from God. According to her analysis, she is lacking both of these, thus, she is dependent on men. Jane’s society is one where people (especially women) are not valued for their intellectual worth. Even though Jane is fully capable of providing for herself, she was not permitted the opportunity to do so. In mid-nineteenth century England, respect was handed to men and earned by women. A woman’s survival was dependent on her ability to attract a man to provide for her or, serve as a...
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...raise additional capital through a public equity offering. With co-lead manager Morgan Stanley, the initial price range for JetBlue shares, was $22 to $24. The demand had excess the supply, 5.5 million of shares planned for the IPO while management had recently filed an increase in the IPO range ($25 to $26). The most recent IPOs among low-fare airlines were of non-U.S. carriers. Ryanair, WestJet, and easyJet had gone public with trailing EBIT multiples of 8.5X, 11.6X, and 13.4X, respectively, and first-day returns of 62%, 25%, and 11%, respectively. It is recommended to use DCF stock valuation method because it makes investors to think of how the company’s cash flow is moving instead of the focusing on earnings only. Benchmark comparable to other in the industry by P/E...
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