...HRM-430 Week 3 Assignment Compensation embodies both the intrinsic and extrinsic rewards employees obtain for accomplishing their jobs. Collectively, both intrinsic and extrinsic compensation refer to a company’s total compensation system. Innate compensation replicates employees’ psychological mind-sets that stem from accomplishing their duties. Extrinsic compensation consists of both financial and nonfinancial benefits. Organizational development professionals promote intrinsic compensation through effective job design. (Martocchio 4) Compensation is based on the following: • market study regarding the value of comparable jobs in the marketplace, • employee contributions and achievements, • the accessibility of employees using comparable skills in the marketplace, • the need of the employer to appeal and retain a certain employee for the value they are recognized to add to the employment relationship, and • the profitability of the company or the funds available in a non-profit or public sector setting, and thus, the ability of an employer to pay market-rate compensation. “Compensation moreover comprises payments such as bonuses, profit sharing, overtime pay, recognition rewards and checks, and sales commission. Compensation can also consist of non-monetary perks such as a company-paid car, stock options in certain instances, company-paid housing, and other non-monetary, but taxable, income items.” (Heathfield) Overview of Compensation Philosophy A compensation philosophy...
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...HRM531 HRM/531 Compensation and Benefits Strategies Recommendations Week 3 Download 100% accurate A++ and most economical answer from here http://www.homeworkmarket.com/content/hrm531-hrm531-compensation-and-benefits-strategies-recommendations-week-3-1 Complete the Compensation and Benefits Strategies Recommendations task as described in the Email from Traci on the Atwood and Allen Consulting Page. Hello, 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 communications with the client regarding this issue. In your recommendation, make sure you do the following: Conduct a market evaluation by researching what companies in the relevant market are providing to employees from a total compensation perspective. Recommend a compensation structure. Recommend the position in the market. Create a total compensation and benefits strategy. Consider the use of performance incentives and merit pay to recognize and engage employees. Identify laws related to the benefits and pay program. Your recommendation should be no more than 1,750 words. Please have this to me by the end of the week. Download 100% accurate A++ and most economical answer from here http://www.homeworkmarket...
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...BUS 681 Entire Course Compensation and Benefits http://www.devryguide.com/downloads/bus-681-entire-course-compensation-benefits/ To purchase this tutorial copy and paste link in your browser. BUS 681 Entire Course Compensation and Benefits Week 1 Compensation Strategy. Discuss the general goals of an organization’s compensation system, including how a compensation strategy works to support the organization’s business strategy. Respond to at least two of your fellow students’ postings. Compensation Practices. Discuss the various factors that influence a company’s competitive strategies and compensation practices. Assess how a company can mitigate these factors using effective compensation practices. Respond to at least two of your fellow students’ postings. Journal Article Research and Analysis. Using a variety of research techniques, write a 3-5 page essay that summarizes the impact and affect of compensation within an organization. This essay should be based on research obtained through a minimum of three Journal articles. Week 2 Seniority and Merit Pay. Define the concept of seniority and merit pay plans, including the strengths and limitations of such plans within an organization. Discuss the job, organizational and/or other factors that should be considered when deciding between the two. Respond to at least two of your fellow students’ postings. Incentive Pay Plans. Discuss how incentive pay plans – both individual and group – motivate employees to achieve...
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...of Business | | |HRM/531 | | |Human Capital Management | Copyright ©2011 by University of Phoenix. All rights reserved. Course Description This course prepares students to address the concepts of personnel development as managers. Students learn criteria for developing effective job analysis, appraisal systems, and appropriate career development plans for employees. Other topics include personnel selection, employee compensation, benefits, training, workplace diversity, discipline, employee rights, unions, and management behaviors. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged into the student website to view this document. • Instructor policies: This document is posted in the Course Materials forum. University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality. Course Materials ...
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...Compensation In this assignment the upper management has asked Eric Garcia to suggest a new compensation plan specifically for the Puerto Rican team that include: A description of a compensation package for the new employment team, why the pay system will work, what reward package would motivate the employees to increase performance, compensation plan’s benefits to the individual and the company and how the Puerto Rican compensation plan differs from the parent company’s compensation plan. He must propose the plan and a rationale to the Human Resources Department for approval. Compensation package for new employment team The level of pay in a company is one or the most important aspect of the employee; they will pay close attention in this category in terms of fairness. If the employees think the pay level for the job is not acceptable the lack of commitment and mistrust will be reflected in their performance. According to University of Phoenix Week Five Compensation (2012), there are four key challenges of pay planning and administrative system: (1) Understand the pay levels of economics and legal factors. (2) To develop a systematic pay structure. (3) Combine compensation and general business strategy. (4) Address key policy issues. Granting bonuses to new heirs it can offer a competitive compensation package, especially for those with special required skills by the company. Overtime will be provided by request and it can be rotated among the employees so it can be share...
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...ASHFORD BUS 303 Week 1 DQ 1 Human Resource Management and Organizational Objectives ASHFORD BUS 303 Week 1 DQ 2 SWOT Environmental Scanning ASHFORD BUS 303 Week 2 Assignment Job Description ASHFORD BUS 303 Week 2 DQ 1 HR Planning Process ASHFORD BUS 303 Week 2 DQ 2 Employee Selection Methods ASHFORD BUS 303 Week 3 DQ 1 Performance Management ASHFORD BUS 303 Week 3 DQ 2 Compensation and Benefits ASHFORD BUS 303 Week 3 Performance Appraisal ASHFORD BUS 303 Week 4 DQ 1 Training Costs ASHFORD BUS 303 Week 4 DQ 2 Training and Career Development ASHFORD BUS 303 Week 5 DQ 1 Global HRM ASHFORD BUS 303 Week 5 DQ 2 The Future of HRM ASHFORD BUS 303 Week 5 Human Resources Management Product Description ASHFORD BUS 303 Week 1 DQ 1 Human Resource Management and Organizational Objectives ASHFORD BUS 303 Week 1 DQ 2 SWOT Environmental Scanning ASHFORD BUS 303 Week 2 Assignment Job Description ASHFORD BUS 303 Week 2 DQ 1 HR Planning Process ASHFORD BUS 303 Week 2 DQ 2 Employee Selection Methods ASHFORD BUS 303 Week 3 DQ 1 Performance Management ASHFORD BUS 303 Week 3 DQ 2 Compensation and Benefits ASHFORD BUS 303 Week 3 Performance Appraisal ASHFORD BUS 303 Week 4 DQ 1 Training Costs ASHFORD BUS 303 Week 4 DQ 2 Training and Career Development ASHFORD BUS 303 Week 5 DQ 1 Global HRM ASHFORD BUS 303 Week 5 DQ 2 The Future of HRM ASHFORD BUS 303 Week 5 Human Resources Management Product Description ASHFORD BUS 303 Week 1 DQ 1 Human...
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...2009 Compensation & Benefits Survey Questionnaire Any systematic approach to sound salary and benefits administration requires complete, accurate and reliable survey data. It is your reporting that counts. Please complete this compensation and benefits questionnaire and return it by July 31, 2009, so that we may in turn provide you with the most reliable data possible. This survey is also offered online here: http://www.hrsource.org/olstart/olsite/index.cfm. Your userID/password are supplied on the cover letter included with this mailing, or call or email us to have it sent again. Please Print: (This information will remain confidential and will not be re-distributed to any third parties.) Completed by: __________________________________________________ Organization: _____________________________________________________ Phone: ______________________________________________ Email: _________________________________________________________ INSTRUCTIONS To make this survey the greatest value to you and to all other participants, please follow these instructions carefully: QUESTIONS 2 & 3: Please provide information for these two questions based on your location. This information is used to present data in different formats in the results. PAY PERIOD: Report salaries for the pay period nearest to July 1, 2009. REPORTING PAY: Base rates are defined as actual straight time pay. Do not include overtime premiums, shift differentials, bonuses or any other incentives or variable...
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...Intermediate Accounting III Complete Homework Sets ACCT 312 Week 1 Homework Chapter 16, Exercise 16-3, 16-5, 16-10,16-22 ACCT 312 Week 2 Homework Chapter 17, Exercise 17-5, 17-10, 17-12, 17-15 ACCT 312 Week 3 Homework Chapter 18, Exercise 18-5, 18-11, 18-13, 18-19 ACCT 312 Week 4 Homework Chapter 19, Exercise 19-2, 19-5, 19-10, 19-17 ACCT 312 Week 5 Homework Chapter 20, E20-1, E20-10, E20-17, E20-24 ACCT 312 Week 6 Homework Chapter 21, E21-14, E21-21, P21-4] ACCT 312 Week 7 Homework Problems P21-5, P21-6 ACCT 312 Intermediate Accounting III Complete Quizzes ACCT 312 Week 1 Quiz 1. (TCO 1) Which causes a temporary difference between taxable and pretax accounting income? 2. (TCO 1) Which difference between financial accounting and tax accounting ordinarily creates a deferred tax liability? 3. (TCO 1) Which temporary difference ordinarily creates a deferred tax asset? 4. (TCO 1) Under current tax law, a net operating loss may be carried forward up to 5. (TCO 1) Which causes a permanent difference between taxable income and pretax accounting income? ACCT 312 Week 2 Quiz 1. (TCO 2) Which causes a temporary difference between taxable and pretax accounting income? 2. (TCO 2) Which statement typifies defined contribution plans? 3. (TCO 2) Which is not a way of measuring the pension obligation? 4. (TCO 2) The PBO is increased by 5. (TCO 3) Our company has a defined benefit pension plan. On December 31 (the end of the fiscal year), the...
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...Product Description ASHFORD BUS 303 Week 1 DQ 1 Human Resource Management and Organizational Objectives ASHFORD BUS 303 Week 1 DQ 2 SWOT Environmental Scanning ASHFORD BUS 303 Week 2 Assignment Job Description ASHFORD BUS 303 Week 2 DQ 1 HR Planning Process ASHFORD BUS 303 Week 2 DQ 2 Employee Selection Methods ASHFORD BUS 303 Week 3 DQ 1 Performance Management ASHFORD BUS 303 Week 3 DQ 2 Compensation and Benefits ASHFORD BUS 303 Week 3 Performance Appraisal ASHFORD BUS 303 Week 4 DQ 1 Training Costs ASHFORD BUS 303 Week 4 DQ 2 Training and Career Development ASHFORD BUS 303 Week 5 DQ 1 Global HRM ASHFORD BUS 303 Week 5 DQ 2 The Future of HRM ASHFORD BUS 303 Week 5 Human Resources Management Product Description ASHFORD BUS 303 Week 1 DQ 1 Human Resource Management and Organizational Objectives ASHFORD BUS 303 Week 1 DQ 2 SWOT Environmental Scanning ASHFORD BUS 303 Week 2 Assignment Job Description ASHFORD BUS 303 Week 2 DQ 1 HR Planning Process ASHFORD BUS 303 Week 2 DQ 2 Employee Selection Methods ASHFORD BUS 303 Week 3 DQ 1 Performance Management ASHFORD BUS 303 Week 3 DQ 2 Compensation and Benefits ASHFORD BUS 303 Week 3 Performance Appraisal ASHFORD BUS 303 Week 4 DQ 1 Training Costs ASHFORD BUS 303 Week 4 DQ 2 Training and Career Development ASHFORD BUS 303 Week 5 DQ 1 Global HRM ASHFORD BUS 303 Week 5 DQ 2 The Future of HRM ASHFORD BUS 303 Week 5 Human Resources Management Product Description ASHFORD BUS 303 Week 1 DQ 1 Human Resource Management...
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...Chapter 1 1. Introduction Compensation refers to the organizations entire reward package, including not only financial rewards and benefits but also non tangible benefits such as securities. It includes to all forms of pay or rewards going to workers and arising from their employment. Once workers have done their jobs and been appraised, they expect to be paid. Each and every worker in an organization works for money or incentives. So their first and foremost expectation from the organization is to earn money or appropriate compensation. Compensation is the most important part or tool of any organization. Because, human body works for earning something. And this earning policy is combinedly known as compensation package. Typically the human resource department performs this policy. It is the most critical function of human resource management. Because the human resource manager always concerns to have the good environment within the organization by providing appropriate compensation to the workers. The compensation package has two main components: direct financial payments which include wages, salaries, incentives, commissions and bonuses and indirect financial payment which include financial benefits like employer paid insurance and vacations. Every organization has to focus on compensation package because not a single organization exists that does not provide the benefits to the workers. There is not a single person who works without payment in an organization...
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...employment task when an accident occurs and requires a claim for work related injury under Workers Compensation Acts. In order to hold an employer accountable for the accident, it will be necessary to show that the employee was engaged in the scope of employment at the time of the accident. Rally’s Auto was running a promotion for free oil changes to boost sales while customers are waiting for their vehicle to be serviced. Exhausted from working overtime for the past week, Jake mistook his thumb as a bolt and injured his thumb. Since Jake was working on a customer’s vehicle, during work hours, and in the company garage it would be considered in his scope of employment. This is assuming there were no drugs or alcohol involved and no horseplay was a cause of the accident. 2. Explain whether or not Herman is responsible for Jake’s injury. Ohio’s workers’ compensation system is a no-fault system. This means that the fault, or negligence of the employee or employer is not an issue in allowance of the claim and the injured employee will be paid compensation and benefits regardless as to any party’s negligence. A few exceptions to the no-fault rule are any injuries resulting from horseplay, self-inflicted injuries, and injuries caused by intoxication of drugs or alcohol is not covered. Rally Auto has more than one employee and is required by law to carry workers compensation insurance. If Rally Auto is required to carry insurance and fails to do so, they are exposed...
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...Running head: Compensation Planning 1 Compensation Planning Jonathan Phifer BUS 434 Compensation & Benefits Management Instructor Justin Furlong July 8, 2013 Compensation Planning 2 Compensation Planning When HR is designing a strategic compensation plan for and organization there are several key factor to consider which should include criteria for strengthening performance, containing cost, limiting liability, and promoting fair pay for employees. To ensure long term success and organizations need a compensation package that links organization strategy to good performance and ties it to the labor market. It also must be within legal compliance of the law and provides a sound salary structure pay for the employees. With the collaborative between these components they must be designed in such a way that it will support the organization business strategy which will stand the test of time and allow the organization to be successful. In this paper I am going to identify these key components and while designing a compensation plan for Holland Enterprises to allow the organization to be successful in the market place. The global market over the last two decades has placed greater stress on organizations regarding their ability to be competitive and profitable...
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...Kaplan University Tammy Landry Unit 3 Assignment Zelma M. Mitchell v. Lovington Good Samaritan Center, Inc. 555 P.2d 696 New Mexico Supreme Court (1976) CASE NAME: Zelma M. Mitchell v. Lovington Good Samaritan Center, Inc., 555 P.2d 696 New Mexico Supreme Court (1976) FACTS: Mrs. Zelma Mitchell started working at the Lovington Good Samaritan Center, Inc. as a nurse’s aide in 1972. Approximately one year on the job Mitchell began serving as a relief medications nurse two (2) days a week. Mitchell was terminated for misconduct. Mitchell’s testimony stated that she punctually arrived to work at 3:00 p.m. She stated that the Director of the Center questioned as to why she had filled out her time card. Mitchell responded that she would be working eight (8) hours for the day as long as she did not “break a leg or die.” The Director responded “Well, I’m not so sure about that.” Mitchell became defensive and made comments where the Director of Nursing overheard. This causing words to be exchanged between the three (3) parties in an open area where others could hear. The issue was taken for further discussion behind closed doors. The Director of the Center had to resolve the issue by putting Mitchell on two (2) week probation on the grounds that Mitchell had used the phrase to describe her employers “a birdbrain against another birdbrain” and stating “she can’t work with us”. Immediately, Mitchell demanded...
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...InterClean Compensation Plan InterClean continues to move forward in becoming the leader in cleaning and sanitation industry. This company’s vision is achievable greatly due to the selected and assembled group of employees who are motivated to perform at high-level standards at InterClean. To this end, this group of individual requires consideration of balance and comprehensive compensation package that will account the degree of achievement set and obtain by the individual. The compensation plan should include a combination of both financial and non-financial categories. The compensation for sales team members (non-management) should include a base salary plus bonus incentives. The bonus will be given to employees who reached company establish sales goal. The base salary will range from $38,000 to $50,000 depending on the talent and expertise of the individuals. This range of base salary seems in alignment with the competitor in the same market industry. The bonuses or commissions will be given to those who exceed their monthly sales goal. Specifically, the bonus will be 5% of the individual sales’ earned for the month and the payout will be given two weeks after the sale. This will account for the cancel/void sale, which will not be qualified for bonus, within the allowed two-week cancellation policy. In addition to the financial compensation plan, there will also need to balance the benefit/perks (non-financial) given to employee to attract higher caliber employee...
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...Total Compensation Methods Paper Total Compensation Methods Paper In all businesses, a company needs to make sure that their turnover ratio is maintained while, at the same time, keep their best employees. Compensation and benefits are just two ways that a company can do such things. The company must know what each individual is looking for at the same time. Not all employees want the same thing. Some employees want the steady 40 hour 5-day a week salary job, while others may want 4-day weeks and more paid time off. By providing a proper balance of all items such as compensation, benefit programs, and salary, the administration of the company can keep their excelling employees and may not have to worry about a huge turnover ratio. Compensation Methods “Compensation is a systematic approach to providing monetary value to employees in exchange for work performed. Compensation may achieve several purposes assisting in recruitment, job performance, and job satisfaction.” (HR Guide to the Internet) In this type of economy, many businesses will start to freeze wages and stop giving their employees any type of compensation. However, this may hurt the employee morale. By giving out a reward for an excellent job performance at times, a company could see a bigger profit in this rough economy. There are a few different types of compensation methods. These methods include but are not limited to the following: • Commission • Overtime • Bonus • Expense Allowances ...
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