The document discusses key aspects of developing an effective compensation system, including:
- Conducting job analyses to understand roles and develop descriptions; evaluating jobs to establish rankings and pay grades
- Determining compensation components like base pay, bonuses, and benefits as well as developing salary structures and administration policies
- Implementing the system by communicating it to employees and managers, and monitoring the program to identify necessary changes over time.
Expense management (EM) refers to the policies set up by an organization to process, pay, and audit expenses initiated by an employee. These expenses include, but are not limited to, the amount incurred for entertainment and travel. Expense management includes the procedures and guidelines that govern such spending, also the services and technologies applied to process and analyze the data associated with it.
Expense management (EM) refers to the policies set up by an organization to process, pay, and audit expenses initiated by an employee. These expenses include, but are not limited to, the amount incurred for entertainment and travel. Expense management includes the procedures and guidelines that govern such spending, also the services and technologies applied to process and analyze the data associated with it.
This contains :-
1.Budget
2. Definition of Budget
3. Purposes of budgeting
4.Characteristics of budgeting
5. Importance of budgeting
6.Principles of budget
7. Types of budget
8. Classification of budget
9.Advantages of budgeting
10.Disadvantages of budgeting
This contains :-
1.Budget
2. Definition of Budget
3. Purposes of budgeting
4.Characteristics of budgeting
5. Importance of budgeting
6.Principles of budget
7. Types of budget
8. Classification of budget
9.Advantages of budgeting
10.Disadvantages of budgeting
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Assignment 1IV. Total Rewards Strategy [Describe the stra.docxsherni1
Assignment 1
IV. Total Rewards Strategy
[Describe the strategy for total rewards for the company. Along with specific ideas for what benefits and compensation structure will exist, provide support for your rationale and decisions using current scholarly theory in the field.
· Review the company strategy to lead, meet, or lag the market for total rewards and key positions.
· Review the decision to base wage on internal structural equity or external market equity.
· Review the decision mix between base wage and incentive wage.
· Develop a mix of employee benefits that differentiates in the market.
· Linkages to performance management or motivation theories.] Sections to include:
Meet, Lead, or Lag?
Equity Strategy
Wage Incentives Method
Linkage to Performance Management
This section will be about 3-5 pages. Include at least two outside references
Use APA 6th formatting and style for citations and references. Font should be 12 point and Times New Roman or similar.
Assignment 2
VI. Performance Management Strategy
· [Review appraisal strategies and mechanisms to evaluate performance.
· Review feedback methods to ensure continual information sharing versus annual events.
· Explain policies on performance improvement needs, discipline, and terminations.
· Explain linkages to T+D, total rewards, talent management, and HRIS strategies; consider reviewing High Performance Work Systems, or other systems theories on performance management.] Sections to include:
Performance Appraisal Method
Feedback Methods
Policies on Performance Improvement, discipline or Termination
Linkage to T&D, Total Rewards, Talent Management, and HRIS
This section will be about 3-5 pages. Include at least two outside references
Use APA 6th formatting and style for citations and references. Font should be 12 point and Times New Roman or similar.
References
[Have at least 10 scholarly sources. Strive for two each week of Weeks 2, 3, 4, 5, and 6. Use APA formatting. For HRIS, you might prefer to use white paper or vendor schematics and specifications, instead of scholarly sources. Scholarly articles that are peer reviewed from journals in the field of HRM are preferred; white papers from HBR and similar review journals are find; avoid Wikis, blogs, and other non-authored sources.]
Document Work Log
To assist in assessing the contributions made by the individual team members, the team must complete the table below and include this in the final project submission.
Section
Team Member—Primary
Team Member—Secondary
Executive Summary
Company Background
HR Strategy
Staffing Strategy
Total Rewards Strategy
Training and Development Strategy
Performance Management Strategy
HR Information Systems
Presentation
Synthesis and Editing
STRATEGIC
HR MANAGEMENT
by Don McCain, Ed.D.by Don McCain, Ed.D.
Strategic HR Management
Motors and More Inc.—
A Progressive HR Case Study
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Motors and ...
Cash or short-term incentive plans (STIP) engage employees in the process of achieving business objectives, reward desired behaviors, and help execute the organization’s long-term strategy. Incentive plans, when properly aligned to business outcomes and rolled-out effectively, can be a powerful tool that enable organizations to “do more with less” and achieve a greater return on investment (ROI) in cash compensation programs.
Total rewards is a concept that describes all the tools available to an employer that may be used to attract, motivate, retains and engages the employee.
Total rewards may also refer to the function or department within HR that handles compensation and benefits, or the combined intrinsic and extrinsic rewards (or value) that an employee perceives.
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
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Honest Reviews of Tim Han LMA Course Program.pptxtimhan337
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Embracing GenAI - A Strategic ImperativePeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Acetabularia Information For Class 9 .docxvaibhavrinwa19
Acetabularia acetabulum is a single-celled green alga that in its vegetative state is morphologically differentiated into a basal rhizoid and an axially elongated stalk, which bears whorls of branching hairs. The single diploid nucleus resides in the rhizoid.
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
Model Attribute Check Company Auto PropertyCeline George
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A Strategic Approach: GenAI in EducationPeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
2. Content:
■ Protection
■ Compensation
■ Compensation System
■ Types of Compensation
■ compensation used
■ components of a compensation system
■ Compensation Plans
2
3. Protection:
Human Resources has two main clients in the organization. It
serves and offers its products and services to managers and it
offers services and the protection to employees. Many times,
Human Resources has to speak in the name of employees. It is
not about being the trade unions, but it is about protecting the
employees, when the major change in the organization occurs.
3
4. Compensation:
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.
Compensation System:
The term compensation is used to indicate the employee's gross
earnings in the form of financial rewards and
benefits. Compensation can also be defined as follows:
■ A system of rewards that can motivate the employees to perform
4
5. Types of Compensation:
Different types of compensation include:
■ Base Pay
■ Commissions
■ Overtime Pay
■ Bonuses, Profit Sharing, Merit Pay
■ Stock Options
■ Travel/Meal/Housing Allowance
■ Benefits including: dental, insurance, medical, vacation, leaves,
retirement, taxes.
5
6. Compensation used:
Compensation is a tool used by management for a variety of purposes to
further the existence of the company. Compensation may be adjusted
according the the business needs, goals, and available resources.
Compensation may be used to:
■ Recruit and retain qualified employees.
■ Increase or maintain morale/satisfaction.
■ Reward and encourage peak performance.
■ Achieve internal and external equity.
■ Reduce turnover and encourage company loyalty.
■ Modify (through negotiations) practices of unions.
6
7. Components of a Compensation
system:
The components of a compensation system include:
■ Job Descriptions
■ Job Analysis
■ Job Evaluation
■ Pay Structures
■ Salary Surveys
■ Policies and Regulations
7
8. Compensation Plans:
■ Develop a program outline.
■ Designate an individual to oversee designing the compensation program.
■ Develop a compensation philosophy
■ Conduct a job analysis of all positions.
■ Evaluate jobs.
■ Determine grades.
■ Establish grade pricing and salary range.
■ Determine an appropriate salary structure.
■ Develop a salary administration policy.
■ Communicate the final program to employees and managers.
■ Monitor the program. 8
9. Develop a program outline:
■ Set an objective for the program.
■ Establish target dates for implementation and completion.
■ Determine a budget.
9
10. Designate an individual to oversee
designing the compensation program
■ Determine whether this position will be permanent or
temporary.
■ Determine who will oversee the program once it is established.
■ Determine the cost of going outside versus looking inside.
■ Determine the cost of a consultant's review.
10
11. Develop a compensation philosophy:
■ Form a compensation committee (presumably consisting of officers or at
least including one officer of the company).
■ Decide what, if any, differences should exist in pay structures for
executives, professional employees, sales employees, and so on (e.g.,
hourly versus salaried rates, incentive-based versus no contingent pay).
■ Determine whether the company should set salaries at, above, or below
market.
■ Decide the extent to which employee benefits should replace or
supplement cash compensation.
11
12. Conduct a job analysis of all positions:
■ Conduct a general task analysis by major departments. What tasks must be accomplished
by whom?
■ Get input from senior vice presidents of marketing, finance, sales, administration,
production, and other appropriate departments to determine the organizational structure
and primary functions of each.
■ Interview department managers and key employees, as necessary, to determine their
specific job functions.
■ Decide which job classifications should be exempt and which should be nonexempt.
■ Develop model job descriptions for exempt and nonexempt positions and distribute the
models to incumbents for review and comment; adjust job descriptions if necessary.
■ Develop a final draft of job descriptions.
■ Meet with department managers, as necessary, to review job descriptions.
■ Finalize and document all job descriptions.
12
13. Evaluate jobs:
■ Rank the jobs within each senior vice presidents and manager's department, and
then rank jobs between and among departments.
■ Verify ranking by comparing it to industry market data concerning the ranking,
and adjust if necessary.
■ Prepare a matrix organizational review.
■ On the basis of required tasks and forecasted business plans, develop a matrix of
jobs crossing lines and departments.
■ Compare the matrix with data from both the company structure and the
industrywide market.
■ Prepare flow charts of all ranks for each department for ease of interpretation and
assessment.
■ Present data and charts to the compensation committee for review and
adjustment. 13
14. Determine grades:
■ Establish the number of levels - senior, junior, intermediate,
and beginner - for each job family and assign a grade to each
level.
■ Determine the number of pay grades, or monetary range of a
position at a particular level, within each department.
14
15. Establish grade pricing and salary
range:
■ Establish benchmark (key) jobs.
■ Review the market price of benchmark jobs within the
industry.
■ Establish a trend line in accordance with company philosophy
(i.e., where the company wants to be in relation to salary
ranges in the industry).
15
16. Determine an appropriate salary
structure:
■ Determine the difference between each salary step.
■ Determine a minimum and a maximum percent spread.
■ Slot the remaining jobs.
■ Review job descriptions.
■ Verify the purpose, necessity, or other reasons for maintaining
a position.
■ Meet with the compensation committee for review,
adjustments, and approval.
16
17. Develop a salary administration policy:
■ Develop and document the general company policy.
■ Develop and document specific policies for selected groups.
■ Develop and document a strategy for merit raises and other pay
increases, such as cost-of-living adjustments, bonuses, annual
reviews, and promotions.
■ Develop and document procedures to justify the policy (e.g.,
performance appraisal forms, a merit raise schedule).
■ Meet with the compensation committee for review,
adjustments, and approval.
17
18. Obtain top executives' approval of the
basic salary program:
■ Develop and present cost impact studies that project the
expense of bringing the present staff up to the proposed levels.
■ Present data to the compensation committee for review,
adjustment, and approval.
■ Present data to the executive operating committee (senior
managers and officers) for review and approval.
18
19. Communicate the final program to
employees and managers:
■ Present the plan to the compensation committee for feedback, adjustments, review, and approval.
■ Make a presentation to executive staff managers for approval or change, and incorporate
necessary changes.
■ Develop a plan for communicating the new program to employees, using slide shows or movies,
literature, handouts, etc.
■ Make presentations to managers and employees. Implement the program.
■ Design and develop detailed systems, procedures, and forms.
■ Work with HR information systems staff to establish effective implementation procedures, to
develop appropriate data input forms, and to create effective monitoring reports for senior
managers.
■ Have the necessary forms printed.
■ Develop and determine format specifications for all reports.
■ Execute test runs on the human resources information system.
19
20. Monitor the program:
■ Monitor feedback from managers.
■ Make changes where necessary.
■ Find flaws or problems in the program and adjust or modify
where necessary.
20