Essay About Fair And Equitable Compensation

Essay about Fair and Equitable Compensation
In exchange for job performance and commitment, an employer offers rewards to employees. Adequate rewards and compensations potentially attract a
quality work force, maintain the satisfaction of existing employees, keep quality employees from leaving, and motivate them in the workplace.
According to research conducted by the Corporate Executive Board, the most important workplace attribute is compensation, (The Increasing Call for
Work–Life Balance, 2009). Not only must wages be set high enough to motivate and attract good talent, they must also be equitable–that is, the wage
must accurately reflect the value of the labor performed. Fair and equitable compensation is a crucial factor in the success of an organization. It is
important...show more content...
For job–based compensation, human resources must conduct a systematic job analysis. Each job must be carefully examined to list the necessary tasks
and actions, identify skills and abilities required, and establish desirable behaviors for successful completion of the job (Dessler, 2011).
The traditional method of compensation is a base pay system. This base pay system is the one that most people are familiar with. A base pay system
involves set pay levels (wage or salary) with regular increases. Increases can be given for a variety of reasons, but are typically given for
promotions, merit increases, or cost of living increases. The Hay Group points out that there is less distinction today between merit increases and
cost of living increases: "Because of the low levels (3 to 4 percent) of salary budget funding, most merit raises are perceived as little more than cost of
living increases. Employees have come to expect them" (HayGroup, 2012).
Determining base pay is directly linked to the organization's compensation philosophy. Having a clear understanding of what role the position plays in
the organization, including the complexity of the required responsibilities and tasks, is factored into the equation along with market data.
Organizations that take the time to ensure they have factored in all of the following components will be more effective in managing their
competitiveness externally as well as their consistency and
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Employee Compensation and Benefits Organizations create compensation and benefits packages in order to attract the best talent. In today's global
economy it is imperative that organizations offer compensation packages that are competitive in order to recruit the very best talent in the world.
However, in order to be successful, compensation packages must align with business strategies. Authors "Mathis, Jackson, and Valentine (2014) explain
that an effective total rewards approach balances the interests and costs of the company with the needs and expectations of employees" (p. 369). In
order to gain a competitive edge, organizations must balance the costs of payroll and benefits with rewarding employees for their contributions. This
paper will analyze the construction of a compensation and benefits package that is needed for a new secretary position at the Frye Memorial Hospital
in Huntington, WV. The paper will highlight the essential elements of a compensation package. Moreover, the paper will examine how the
compensation package aligns the Human Resource (HR) strategy with the Hospital's business strategy. Aligning HR Strategy with Business Strategy
Frye Memorial is located in Huntington, WV. It is the primary source of employment in Huntington; however, because of its remote location, the
Hospital struggles to recruit talent from outside of the state. In an effort to attract talented workers in the surrounding areas, Frye memorial designs
compensation

Employee Compensation Programs Essay
Benefits have most definitely changed throughout the past years. According to Compensation, during 1880 people worked approximately 14 hours
every single day except on Sundays and would only receive a raise if they stayed with the company for five years and if the company prospered
during that time (Gerhart, 2011, p. 414). Over the next couple of years, employees began seeing work hours change from 60–64 hours per week to 54
hours by the year 1930. Eventually, employees were able to have holidays off to enjoy with families, but they still did not receive pay for those off
days, though. Today's society seems to have it made compared to those times; many companies offer education reimbursement, employee training,
child–care services, and...show more content...
Only employees that were let go because of no fault of their own will be able to receive this benefit; employees that were terminated are not
allowed to collect their pay. Another mandated benefit would include social security. This benefit helps employees receive income after retirement
or if permanent disability occurs before then. While working, the employee will pay a certain percentage from their income for these benefits for a
certain amount of time. Then, once retired, he or she will receive this money monthly. COBRA, or Consolidated Omnibus Budget Reconciliation
Act of 1986, is a benefit that requires employers that have 20 or more employees working to continue health care coverage to discharged
employees. This benefit does have a few limitations; church employees, federal government, and those terminated because of misconduct are
excluded from this benefit (elinfonet.com, LLC, 2011, В¶ 5). Family and medical leave, another government mandated benefit, allows employees
who work for a company with 50 or more employees to be given up to 12 weeks unpaid leave for particular family or medical purposes (Utz., 2001,
p. 15). With that being said, there are rules and implications on what is considered family and medical purposes. While many companies offer benefits
to all employees, sometimes certain groups and only senior executives are given fringe benefits and perquisites to keep them motivated and successful.
According to a USA TODAY

Compensation & Benefits Essay
Running Head: COMPENSATON AND BENEFITS Compensation and Benefits in the Twenty
–first Century Abstract Team platinum will explore
compensation and benefits in the 21st century. Any review of total compensation must include the crucial areas of health and retirement benefits and
financial compensation, as well as discuss the implications of pivotal changes in the market and demographics which impact organizations and overall
performance management issues. There are several different compensation and benefit strategies that can be combined in innovative ways to meet the
needs of the both the organization and the diverse needs of the employees. The proper administration of a total compensation and benefits package is a
...show more content...
When it comes to an individual trying to figure out how much pay they feel they deserve to be paid, they must consider the job they are applying
for and the compensation packages the organization is offering. They must decide what is important to them. Do they want benefits like family
insurance, dental insurance, profit sharing or other perks? Or do they want to eliminate those perks and take more pay in their place? "Today more
and more employers are experimenting with flexible compensation packages" (Krannich & Krannich, 2005, p.38). These perks tend to add up when
translated to dollar amounts. Many employers will offer numerous compensation packages where employees can pick and choose or mix and match
what they feel are important to them at that point in their life (Krannich & Krannich, 2005). Salary Negotiation Tips for Professionals also suggests
that employees should negotiate their base pay. What it comes down to is base pay is a major indicator of an employees' value, as well as the way to
compare the value of different positions. Most employees can expect that their base pay is about 60–80 percent of a total compensation package. An
employee must not overlook or not focus on the other portion of the package. There is another 20–40 percent of that compensation package that can
also be negotiated. It is all in how the employer and employee structure the individual's

Compensation
DISCUSSION ASSIGNMENT 15 MARKSWORTH 5% OF THE OVERALL GRADE FOR THE COURSE
INTERNAL EQUITY (ALIGNMENT) AND EXTERNAL EQUITY (COMPETITIVENESS)
After reviewing the Wilson Brothers Case Scenario, as Director of Human Resources for the organization, what conclusions can you draw with respect
to the status of the company's compensation strategies that are currently in place? What would you do to begin to address this situation? (3 Marks)
Provide Constructive Feedback to at least two other student's postings. (2 Marks)
HINT:–reference both internal equity (alignment) and external equity (competitiveness) in your response.
NOTE:–this Discussion Assignment will be marked on content, analysis, direct references to the readings, the overall...show more content...
51). The main competitive advantage that the organization has had relates to the sense of pride of its' Canadian Roots as well as previous success in
relation to the speed of strategic decisions in the past. To begin to address the situation faced by this organization, it is impertinent that all of the
mandatory government legislations are updated and in full effect. It would also be worth doing research on similar industries and competitors to see
how they have made their compensation strategies successful as well as any best practices that we might want to consider benchmarking. This should
be an eye opener to the organization to insure the appropriate changes are made to put them at a more competitive advantage.
–––––––––––––––––––––––––––––––––––––––––––––––––
As Director of Human Resources for Wilson Bros, the conclusions that I draw with respect to the status of the company's compensation strategies is that
they lack security for their employee's compensation and lack flexibility to the changing economy, competitive environment, and growing
organizational needs.
The Wilson Bros have been a successful business for many years but it is important now that they secure their successful business by instilling
employment compensation protections in order to repair their current status of internal and external equity.
Without internal

Literature Review On Compensation
Literature Review: Compensation & Compensation Decisions In corporate culture, equality, talent, aptitude, ethics and loyalty develops the outlook for
any employee from all the directions. Managers keep the supposed contemplations in the notice to decide the employees' future responsibilities and pay
scale. In fact, Compensation is always based on employees' performance, loyalty towards the organization, job exploration, reliability factors, utility,
and reputation in the internal environment of the business and so on. Also, sometimes, financial statistics of the company, salary grade, current salary,
appraisal rating play a key role in disseminating bonus and other salary and job analysis decisions (Garen, 2006). However, it might happen that internal
politics, hegemony, nepotism have a big part for the compensation and job related decisions as well. Thus, compensation decisions require
comprehensive efforts to maintain impartiality, inspirational business environment. Therefore, the thesis of the...show more content...
Also, they have decided that, rewarding in line with job performance would be the best choice to maintain trust, equality and ethics among workforces
at the workstation. In this manner, they mentioned that, sound compensation requires wide–ranging classification and diversity factors in order to
elicit unanimity among personnel as selected criteria are corresponding to each member of the organization. Through this examination, they have
shaped a sound theory on compensating matter for HR domain or other management teams and it addressed the reimbursement structure and system
comprehensively. This works also highlighted how labor union and societal and governmental factors, which tend to be subjective and transform the
scenarios ascending out of

Introduction In today's competitive workforce, compensation and benefit packages plays a crucial role on recruitment and retention for both the
organization and the employee. Bumpbie finds itself in a situation where it could positively affect its employee's morale, turnover rate and
longevity; by making a strategic decision to implement compensation and benefit packages that will encourage current workers to stay and entice
new applicants. Money is not always the inherent reason businesses experience high turnover rate, the constant shifting in the job market will
always be a contributing factor as well as employee's moral. Mayhew, R. (2016), explains that an "employee compensation plan" refers to all the
components offered as well as the way in which they are paid, and the reason behind the employees getting the compensation case bonuses, salary
increases and incentives. The fact that there are voluntary and mandatory benefits that organization provides to their employees give employees the
freedom of choice, as well as the option to make the whether to stay with or leave an organization based on the benefits it provides. Variable Pay is
also an option that some employers offer their employee which is performance based or results oriented. Whether it is profit sharing, merit based
programs or incentive bonuses; it all comes down to which organization can provide employees with the compensation or benefits packages that best
satisfy their needs. How Benefits compare

Essay on Workers' Compensation
Workers' Compensation
Workers' compensation provides compensation benefits to employees for disabilities due to personal injury or disease sustained while in the
performance of their duty. The purpose of Alabama's Workers' Compensation laws is to ensure proper payment of benefits of employee's injuries on
the job or who contract a work related illness and encouraged safety in the workplace. These benefits include payment of medical expenses and
compensation for wages loss. Dependents are also entitles to payment of benefits of employees who die from work–related injuries or diseases. An
employer that has five or more employees is required to have worker's compensation insurance. Workers' compensation is designed to protect workers
...show more content...
For example if an administrative assistant is lifting heavy objects on a loading dock.
Part of the employer's responsibility is to control potential workplace hazard and correct hazardous conditions or practices as they occur or are
recognized. If an employer effectively identifies these or other red flags, he should begin and keep accurate documentation of the incident, investigate
the accident adequately, and provide safety and health training annually.
Another means to detect and deter fraudulent claims is the use of on–site medial services including triage nurses. Companies can also contract and/or
partner with local medical facilities. Contracting with a local facility helps a company to built healthy relationships with physicians who are
trustworthy will help to reduce the risk of the fraudulent claims. On site triage nurses and other medical services can help reduce costs by identifying
the severity of the injury. For example, a triage nurse can use first aid to treat a first degree burn, rather than the injured taking a trip to the emergency
room. Having medical services on staff can also have a positive impact on staff morale. It is an excellent way to show employees that you are committed

Workers' Compensation Essay
Workers' Compensation
Workers' compensation is meant to protect employees from loss of income and to cover extra expenses associated with job–related injuries or illness.
Accidents in which the employee does not lose time from work, accidents in which the employee loses time from work, temporary partial disability,
permanent partial or total disability, death, occupational diseases, noncrippling physical impairments, such as deafness, impairments suffered at
employer–sanctioned events, such as social events or during travel to organization business, and injuries or disabilities attributable to an employer's
gross negligence are the types of injuries and illnesses most frequently covered by workers' compensation laws. Since 1955,...show more content...
Workers' compensation laws typically provide that injured employees will be paid a disability benefit that is usually based on a percentage of their
wages. Each state also specifies the length of the period of payment and usually indicates a maximum amount that may be paid. In addition to the
disability benefits, provision is made for payment of medical and hospitalization expenses to some degree, and in all states, death benefits are paid to
survivors of the employee. Commissions are established to adjudicate claims at little or no expense to the claimant. Two methods of providing for
workers' compensation risks are commonly used. One method is for the state to operate an insurance system that employers may join and are required
to join. Another method is for the states to permit employers to insure with private companies, and in some states, employers may be certified by the
commission handling workers' compensation to handle their own risks without any type of insurance. Under most state and private insurance plans, the
employer and the employee gain by maintaining good safety records.
Disability payments from other sources do not affect your Social Security disability benefits. But, if the disability payment is workers' compensation or
another public disability payment, your Social Security benefits may be reduced. After the reduction, your total public disability benefits should not
exceed eighty

Essay On Compensation For College Athletes
Comparing and Contrasting Two Authors' Work Both Dave Zirin in "The Shame of the NCAA" and Tim Ajmani in "Compensation for College
Athletes" would agree that student athletes are being taken advantage of. In Zirin's piece, he speaks about how this treatment towards these students is
a civil rights issue. These students are being overworked on the field, some may consider playing a sport in college is more than a full–time job, and
aren't getting form of payment or protection. These corporations and universities are "enriching themselves on the backs of uncompensated young men
whose status... deprives them of the right to due process guaranteed by the Constitution"(Zirin 204), the NCAA justifies its purpose with two principals,
amateurism and student athletes. Since these athletes are students and playing amateur games, they don't have to be compensated. The NCAA also
justifies the fact that students don't get paid by giving them free room and board but Ajmani makes a point that paying students would provide more of
a motive for them to stay in school and complete their degree. In Ajmani's...show more content...
Zirin goes into depth about how sport writers get pampered with expensive gifts from corporate sponsors and how the NCAA is making money off of
uncompensated young athletes. While Ajmani goes into detail about how students are not getting fair treatment, "College students are pawns in a huge
chess game" (Ajmani 209); students don't benefit from the games, as they are the ones getting played. Student athletes put themselves at risk just for
the love of the game; if they get hurt on the field or court, they don't have worker's comp for injuries, according to Dave Meggyesy. Both authors
believe there is corruption in the NCAA system but focus on different

Our reading this week shows that one important motivating factor for an employer has to be aware of is the financial/economic interests of their
employees. Today many observers and employees are concerned about the gap between CEO salaries and average employee pay. Is it ethical for
CEOs to be paid so much more than other employees? Does this practice use a valid reward distribution system? Should companies be considering
ways to reduce the gap to improve the overall moral of their employees? Do you think CEO and upper management salaries are subject to ethical
consideration?
Salaries and wages in any organization play a prominent and important role in determining the outcome of the organizational performance. It is
undoubtedly a double–edged weapon. It is one way to satisfy its growing needs; starting from the simple humanitarian needs, achieving job security
and stability, and increasing its desire for better performance. The determination of the level of salaries and bonuses must be subject to a clear and
transparent system according to the tasks and responsibilities of each level. Any differences between them should be justified in...show more content...
It is normal for executives to receive salaries and bonuses higher than other administrative levels, but in the end, they must be subject to clear and
practical standards, and these differences are within controlled limits to avoid any negative effects on the organization's march and morale. It has been
proved that market forces are not the main factor in determining the salary levels of executive managers. Therefore, the organization should find the
appropriate and efficient ways to reduce the gap between them and the salaries of other sectors in the organization to maintain the morale of other
employees and their loyalty to the

Performance Based Pay Essay
Performance Management and Performance Based Pay Compensation and Benefits MGT 548 Cardinal Stritch University Group MSM 3–356
Instructor: Rafael Viscasillas 7/25/05 Table of Contents Performance based pay is an effective way to adequately distinguish between the best and
worse performers within the company structure. Commonly referred to as merit pay or skill based pay, performance based pay is a compensation
system designed to reward employees for attaining additional skills or for completion of specific goals. "The concept is attractive to many employees
since there is a direct link between their compensation and the work–related skills they may learn and use В– and since service time with the company
and job title are...show more content...
ELCABOP is judged based on how these employees handle their job when working with the Lutheran ministers and lay employees. Because of this it
is important to record and measure the performance of the employees to make sure customer satisfaction is achieved. Until recently, this was difficult
to do because the ELCABOP did not have a formal evaluation policy in place. In the past, the ELCABOP conducted performance appraisals annually
at the end of their fiscal year. Managers would meet with their employees on an individual basis, write up a summary of the employee's performance
for the previous year, and submitted it to the Human Resource Department to keep in the employee's file. Employees did not have specific standards to
meet and had no real sense of their own accomplishments or shortcomings. Without an understanding of how individual performance influences the
organization's contribution to the company's mission, employees have no feeling of connection to the organization. This lack of connection decreased
both employee loyalty to the organization and employee morale. "Department goals, which support the corporate goals, are set by managers and their
teams. Individual goals, which support company and department goals, are set by each employee together with their manager. All goals must be
achievable, measurable and aligned with the corporate strategy." (Wells, HR Magazine, 2005, p. 79–80)

Workers? Compensation Essay
Workers' compensation is meant to protect employees from loss of income and to cover extra expenses associated with job–related injuries or illness.
Accidents in which the employee does not lose time from work, accidents in which the employee loses time from work, temporary partial disability,
permanent partial or total disability, death, occupational diseases, noncrippling physical impairments, such as deafness, impairments suffered at
employer–sanctioned events, such as social events or during travel to organization business, and injuries or disabilities attributable to an employer's
gross negligence are the types of injuries and illnesses most frequently covered by workers' compensation laws. Since 1955,...show more content...
Medical expenses are usually covered in full under workers' compensation laws. It is a no–fault system; all job–related injuries and illnesses are
covered regardless of where the fault for the disability is placed.
Workers' compensation coverage is compulsory in all but a few states. In these states, it is elective for the employer. When it is elective, any
employers who reject the coverage also give up certain legal protections. Benefits paid are generally provided for four types of disability: permanent
partial disability, permanent total disability, temporary partial disability, and temporary total disability. Before any workers' compensation is
reorganized, the disability must be shown to be work–related. This usually involves an evaluation of the claimant by an occupational physician. One
major criticism of workers' compensation involves the extent of coverage provided by different states. The amounts paid, ease of collecting, and the
likelihood of collecting all vary significantly from state to state.
After a decade of yearly double–digit increases in the cost of workers' compensation, in the early 1990s at least 35 states began to make changes in
their workers' compensation laws. These changes included tighter eligibility standards, benefit cuts, improved workplace safety, and campaigns against
fraud. Recent data indicate that these changes are paying off. The rates

Introduction – Employee Compensation and Benefits
This paper will outline an employee compensation and benefits package for a new hire for a secretary for the department. First, it will describe the
organization I chose for designating a compensation package. Next, this paper will develop an employee compensation and benefits package for this
new position. This paper will outline an employee compensation and benefits package for a new hire for a secretary for the department. First, it will
describe the organization I chose for designating a compensation package. Next, this paper will develop an employee compensation and benefits
package for this new position. Attached to this paper is a Powerpoint presentation that will detail this employee compensation and benefits package, as
well as an the eligibility of exempt or non–exempt status, other benefits that might be considered, government regulations that influence the
compensation, two other organizations with similar compensation, and how this package aligns with the HRM strategy.
Our Organization – Department of Energy
When researching the average salary and compensation benefits for this area for a secretary for our department, I discovered some generic information.
First, the mean hourly wage for this part of the country (Washington DC area) is $20.01 (Occupational Employment and Wages, 2013). Second, the
average job description for a secretary in the Washington DC area includes: performing secretarial duties

compensation Essay
Basis For Compensation
Premier Conferencing basis for compensation is based on individual, team/organizational efforts. Premier's associates are their greatest assets and they
work collaboratively to achieve a rare degree of success to satisfy their client's unique needs. In doing this, Premier's employees work hard at their jobs
to provide outstanding service to their customers, therefore received above average pay, both individual, team players, and organizational.
It's great that Premier Conferencing emphasizes on having fun in the workplace while being productive and successful in increase sales and
commissions. With Premier's policy on promoting from within, this gives each associate terrific...show more content...
These Bonus Bucks are redeemable for gift certificates from area business. The places where associate can redeem their "Bonus Bucks" were gathered
through associate surveys. This popular program was introduced in 1995 (Premier Conferencing, 2002). Furthermore, for individual compensation,
associates who receive internal written recognition for upholding the company's "Core Values" by going above and beyond get a chance to spin the
"Wheel of Premiere." Every other week, the team gathers the names of associates who have received compliments and determines why these
associates were recognized. From that group, names are drawn randomly and read aloud. Those selected get a chance to spin the wheel and win prizes,
such as movie tickets, dinner for two, Premiere Conferencing gear, cash, or the mystery prize.
Compensation for teams or the organization, Premier celebrates milestones within the company as a group. When Premiere Conferencing reaches a
milestone, such as achieving a company–wide objective, or breaking a company record, associates are rewarded for the team effort. In the past,
associates have received embroidered blankets, fleece jackets, t–shirts, hats, coffee mugs, and now most current, bonuses. Moreover, when a
department meets an objective or deserves special recognition for an achievement, Premier rewards that department with a catered lunch or

Compensation
Compensation Philosophy Paper Name ________ Professor ______ Introduction Compensation is viewed differently, depending on the individual
persons perspective (e.g. employee, manager, stockholders, etc.). An employee may view compensation as what is owed to him or her for work
performed, while a manager may view pay as an expense. In order for an organization to have an effective compensation strategy, it must consider the
various perspectives when creating the organizations compensation strategy. Milkovich, Newman, and Gerhart, authors of Compensation, define
Compensation as, "All forms of financial returns and tangible services and benefits employees receive as part of an employment relationship," (2011,
p. 10). In other...show more content...
"As a result, Costco generated $21,805 in the U.S. operating profit per hourly employee, compared with $11,615 at Sam's Club," (Cascio, 2006).
Fairness can have a direct relationship to internal alignment and external competiveness. Internal alignment refers to pay within an organization: *
How pay is determined and pay differentials are determined for individuals performing the same job within the organization. And * How pay
differentials are determined for individuals performing dissimilar jobs within the organization (i.e. an analyst as compared to a computer
programmer). External competiveness refers to individual pay within an organization as compared to individuals pay, performing similar work at a
competing organization. Just as what is considered compensation varies by an individual's perspective, so does fairness in compensation. According
to Milkovich: One group argues that if fair (i.e., sizable) differentials among jobs are not paid, individuals may harbor ill will toward the employer,
resist change, change employment if possible, become depressed, and 'lack that zest and enthusiasm which makes for high efficiency and personal
satisfaction in work,' (2011, p. 87). On the other side of that argument, Unions would argue that differentials in pay should be smaller, with individuals
receiving equal pay for equal work. Individuals or groups that argue for

Essay on Compensation and Benefits Strategy
Compensation and Benefits Strategy
Landslide Limousine (LL), a small business in Austin, Texas, hired Atwood and Allen Consulting (AAC) to conduct a market evaluation and provide
recommendations for the following: a position in the market, a compensation structure, a total compensation and benefits strategy, and performance
incentives and merit–based pay to recognize and engage employees. This will help to identify applicable laws related to pay and benefits. This paper
includes citations from one peer–reviewed book, three government websites, four commercial websites, and one University of Phoenix online course
material. Market Evaluation
Atwood and Allen's market evaluation found the average salary for a limousine driver in Austin,...show more content...
Position in the Market
The company's ability to pay is less than that of its competitors and will remain constrained until the company can establish a reputation and gain a
share of the market (Cascio, 2013, p. 420), so the company should position itself carefully in the market. LL should allocate 25% of its budget for
salary and benefits and use performance incentives, merit–based pay to keep fixed labor costs low. LL should pay employees $9.33 per hour, which is
$19,406 per year and is $2 per hour less than industry average for Austin, Texas. The company should pay management a salary 5% higher than
employees to maintain the balance of compensation rates (Cascio, 2013, pp. 423–424). The company should use additional benefits,
performance–based incentives, and merit pay to attract, retain, and motivate employees who share the company's vision and goals (Cascio, 2013, p.
423).
Total Compensation and Benefits Strategy The total compensation and benefits strategy of the company should place an emphasis on compensation
through incentives with a reduced fixed labor cost. If the company is successful, employees receive additional compensation and if the company is
experiencing difficulty gaining a market share or if there is an economic downturn, the company has a reduced labor cost (Cascio, 2013, p. 420). The
company should not use pay grades because of hybrid positions and maintaining the flexibility to modify job descriptions to fit the needs of the

Essay about Compensation Strategy
To start with, we must first understand what a managerial strategy means and how we can apply the appropriately.
And according to a lay man understanding it simply means how you designs you organization in order to meet your targeted goals and how the
managerial strategy links to rewards and compensation.
To choose the appropriate managerial strategy for the multi–products corporation, we must firstly have to understand the five key Contextual variables,
which will help identify the best managerial strategy to use.
These variables are:– THE ENVIRONMENT This is the most important aspect to help determine the managerial strategy to use, because it help ask
two questions to determine...show more content...
soo the classical approach is also the most appropriate one here to use.
ORGANIZATION SIZE The size of the organization can also help determine the managerial strategy to use because of the need to coordinate and
control large number of people, large organizations generally use use classical or human relations strategies and the multi–products corporation have a
forecast of large workers, it will involve about 600 workers and the size also affect structure because as organizations get larger, the impact of
technology on their structure lessens.
CORPORATIVE STRATEGY
According to the porter's typology of corporate strategy (Richard, 2009). Suggests that corporate strategies can be categorized on two dimensions,
based on whether the firm is seeking to be the low–cost producer of standards products or whether it is attempting to differentiate itself by having
unique products or services. And the multi product case is not a competitive environmental one cause it shows that people who want the product will
generally be willing to pay what it takes to get it and it will have a fixed volume and fixed price and nobody else will be able to manufacture a similar
club, due to the patent protection. So the

Benefits And Benefits Of Compensation Essay
Compensation is output and the benefit that employee receives in the form of pay, wages and also same rewards like monetary exchange for the
employee's to increases the performance Holt, 1993). Compensation is the segment of transition between the employee and the owner that the
outcomes employee contract. As the prospective of employee pay is the necessary of life. The payment receives from work done on the behalf of
people getting the employment. From the employee prospective one of the most important part of cash flow. Compensation is mostly equal to half of
cash flow of the companies. But in the service sector it is more than half. It is the major to attract the employee and motivate employee to increases the
performance (Ivanceikh and Glueck, 1989). It is argument that mostly individuals that getting higher education they are not satisfied their jobs and
their turnover is more than so that organizations are overcome to that problem design the compensation plain to retain the employees as well plays
more to attract, retain and motivate to give man power. Different universities objectives make their benefits and compensation packages to attract as
possible (HRM Process BPR term report june, 2009) mostly employees believe their abilities that knows that if they perform well pay can be
increasing. In other words you can say that compensation and rewards effects the employee decision making to stay their organizations and also
accepted the responsibility (Bratian &Gold

Essay About Fair And Equitable Compensation

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Essay About Fair And Equitable Compensation