Employee Compensation A Company - 2085 Words

Briefly describe the company you researched, its compensation strategy, best practices they are applying, and compensation-related challenges they are facing. Employee compensation is very important in any organization since it helps to mark the established relationship between the employer and employee. Compensation usually encompasses many motivating factors that act as a catalyst to an employee in the cause of work. It has been discovered that organizations with good compensation practices are able to maintain their skillful and experienced workers. This then leads to a company gaining a competitive advantage in the market since customer value is greatly delivered (Milkovich et al, 2011). McDonalds is a global company which has widely use franchisers in order to expand its business globally. The company is well known for its unique techniques in preparing customers differently from other competing firms within the food industry. Geographically, McDonalds has several branches and regional centers that help ensuring that customer needs are timely attended. In addition, the company is also known to have a large workforce who manages its daily operations. It is believed that McDonalds is an equal employer since it doesn’t discriminate recruiting potential employees on race, gender, country of origin and gender. But, however, there is a variance of salaries which are brought about by the nature of work, duties and responsibilities one holds andShow MoreRelatedCompensation and Benefit System Proposal Essay example1090 Words   |  5 Pagesresource department has came up with a new compensation plan. In the propose compensation and benefits system plan , I will explain a new compensation plan for Holland Enterprises, also I will explain the components of the compensation and benefit system plan in order to attract and motivate employees to be productive . In order for the compensation and benefits system plan to be operational, the package should include a necessary level of compensations to fulfill basic needs, equity with the externalRead MoreSamsung Electronics s Current Compensation Program1646 Words   |  7 PagesSamsung Electronics’ current compensation program can be evaluated for effectiveness based on several factors. An effective compensation program must create employee motivation, value employee efforts, and be aligned with internal strategies as well as external conditions. We will evaluate Samsung’s current compensation strategy based on the internal and external alignment aspects. Internally consistent compensation programs take into account the internal factors of a firm such as resources, performanceRead MoreThe Impact Of Contingent Compensation On Employee Performance Essay1251 Words   |  6 Pagesof contingent compensation on employee performance in hospitality industry Introduction Compensation is regarded as one of the most persistently motivating ways to incentive employees (Torres Adler, 2012). So, it is important for a company to choose a reasonable compensation system which can not only increase the revenue but also can motivate the employees to do the better job (Johnson, Friend Agrawal, 2016). Many companies will consider carefully about designing the compensation system to retainRead MoreEmployee Compensation Programs Essay1416 Words   |  6 PagesBenefits 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 holidaysRead Mo reCompensation and Benefits1475 Words   |  6 PagesCompensation and Benefits Lisa Epps BUS303 Human Resources Due Date Ashford University There are many people that would choose their life career around the benefits and compensation they may receive. Compensation is known as human resources function that deals with every type of rewards that one may receive in return for performing organizational tasks.()1 Do to these rewards such as compensations; turn-over can be affected in the workforce. If an employee did not feel they valued at theRead MoreBenefits And Benefits Of Ford Motor Company1657 Words   |  7 PagesFord Motor Company is a multinational automaker located in the United States of America. The company has employed thousands of employees across the world. Any successful company must provide its employees with a good compensation and benefits plan to remain competitive. As a result, this study focused on researching the types of compensation and benefits plans Ford Motor Company offered to its employees. The study found out that the company offers compensation and benefits plans such as base payRead MoreEmployee Compensation and Corporate Culture- What Works1736 Words   |  7 PagesAmir Hejazi Employee Compensation and Corporate Culture: What Works? When determining what method to use to compensate employees, a company must be aware of the impact that different compensation methods can have on employee performance, and on organizational culture. Unfortunately, there is no one-size-fits-all answer to the question of employee compensation. Some employees will respond very well to a program that other employees might balk at. Similarly, some companies or industries may flourishRead MoreDiscussion Pay And Benefits For Employees879 Words   |  4 PagesAssignment 1: Discussion—Pay and Benefits This assignment requires that students research compensation strategies and consider general compensation programs for employees. It is essential for the human resources departments to recruit and retain the most competent workers for positions, but it also important to consider the Does your program include stock options, profit sharing, an employee stock ownership plan (ESOP), healthcare, etc.? It is important for the HR department to be proficient inRead MorePurpose Of Workers Compensation Insurance1244 Words   |  5 Pages$3,000 in Workers Compensation Insurance premiums annually, where the premiums raise with number of covered employees. There is a minimum requirement for Employer liability coverage in Workers Compensation, required by law, of $100,000 to $500,000 per employee for body injury claims. Workers compensation insurance aims to provide coverage to employer for medical costs in the event of employee injury due to employer negligence or lawsuit from employee and to provide the employee with coverage forRead MoreCase Study - Mr Rakesh Sharma1679 Words   |  7 Pagesproblem that the Training Manage has to decide whether he should terminate Mr. Sharma or not. The five issues are communication, employees behavior, compensation and benefit, company policy, training and development. Moreover, we also discussed five options to the Training Manager other than termination of Mr. Sharma. These five options are apply employee engagement program, training and coaching system, giving short period to show improvement, reevaluate performance of Mr. Sharma and communicate and