Feb 08, · Employee compensation in most cases refers to the cash benefits that individuals receive as an exchange of the services rendered to their employer. In most cases, at least in many countries, individuals earn a certain wage or salary due to the work they do to their employers. For example, in the United States, almost over 90% of the employees or what is Jul 22, · The purpose of this essay is to explain and highlight the importance of strategic compensation as a component of a the larger corporate strategy within an organization. This essay will examine how pay and different forms of pay can be instrumental in finding new ways to motivate, sustain and increase participatory levels within company organizations and provide a Compensation. The wings of Time are black and white, Pied with morning and with night. Mountain tall and ocean deep. Trembling balance duly keep. In changing moon, in tidal wave, Glows the feud of Want and Have. Gauge of more and
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Most organizations have developed robust compensation systems as a step of increasing employee motivation and achieving organizational goals. Armstrong and Tina 67 illustrates that compensation system is a mechanism essay on compensation an organization essay on compensation to reward its employees as a payback for their for their. Compensation system may provide benefits which are direct or indirect to the employee and the organization. Direct benefits for the employee may include wages and salaries whereas indirect benefits may encompass aspects such as good working environment, job enlargement and rotation, and paid leave or holiday Armstrong and Tina A compensation system should be customized to ensure the organization has the right people with needed skills or knowledge.
This will assist the organization achieve its goals. Compensation systems encompass five important areas which are wages, bonuses, benefits and clearly defined agreements. In developing internal compensation system, essay on compensation, an organization has to embrace sound steps for achieving its goals and mission, essay on compensation. The first step which an organization can take is analyzing the compensation implication Kurt. On this aspect, the human resource department should assess how the compensation system developed will have an effect both on the employee and the organization.
In this case both positive and negative aspects of the compensation system should be evaluated to justify the adoption of the internal compensation system Armstrong and Tina Second, the organization should fix objectives of the compensation system to be adopted, essay on compensation. This is an important step because it will assist the organization towards attaining the its goals Kurt. An organization has to determine the actual benefits it will attain from the system being developed. For example, if the organization aims at increasing productivity of employees, sustaining organizational growth and development it should tie these aspects to the compensation strategy.
This will involve assessing the prevailing conditions in the organization such as existing compensation systems, the number of employees and the profitability of the organization Kurt, essay on compensation. The comparison done will ensure the gaps existing in these areas are sealed by the new compensation essay on compensation. Fourth, focus should be given to the criteria that will reward and improve both employees at the top and bottom level of the organization. This will ensure equal pay rate management of all employees within the organization and avoid conflicts that might arise as a result of discrimination.
This will ensure essay on compensation activity being undertaken within or outside the organization is focused on a common goal of achieving the organizational goals Armstrong and Tina essay on compensation Sixth, an organization has to define the values and morals that should be upheld and strictly adhered to. Employees can be involved so as they can have the opportunity to give their contribution, essay on compensation. In coming up with values and morals, the general and the specific objective of the organization should be upheld to avoid conflicts in the implementation process. Seven, the reward scheme is one of the major motivational factors to an employee. An ideal compensation system should therefore be flexible so that it can be amended when a need arises.
Lastly, the human resource department should communicate the compensation system that has been developed. This aspect will ensure the employees and the top management understand the system before it is implemented. It will also give room for those who feel their views were not captured in the system to raise them for appropriate action to be taken. A pay level refers to the average amount of all rates paid to an employee by the employer. In formulating salary or pay level rate, essay on compensation, the human resource essay on compensation should do a critical analysis before settling for a particular rate.
The University of Bahrain is an institution of higher learning in the kingdom of Bahrain, essay on compensation. The University of Bahrain has aligned its compensation systems with the type of skills needed. Essay on compensation aspect has been an influential factor in determining the pay rate in the university. The University view the qualification for a particular position dictates the work to be performed; hence, this determines the pay rate. For example, when the university of Bahrain is hiring an individual for the post of a lecturer, the qualification required for the position, let say in an engineering department and school of business may attract different pay scale. Also, the university considers the geographic location of the employee.
The university has devised its compensation system to include a reasonable period of contract, usually two years, but renewable. It also provides free and furnished accommodation, free medical cover, return air ticket for foreign employees, and allowances for shipping academic personal effects. The university of Essay on compensation also has a commendable compensation policy, essay on compensation. This aspect dictates the level of pay rate. Higher pay rate is given to best qualified employees so as to retain them.
The university of Bahrain is a highly profitable organization, essay on compensation. It records higher admissions annually and has several enterprises which generates more income. Thus, the institution has a higher pay scale mechanism which addresses all the needs of employees with different skill set and qualifications. The university pay scale is non-discriminatory. This makes both women and male employees to be paid equally depending on their qualifications and skills. Also, the institution has an employee performance review where the best performing employee is compensated regardless of the gender. A handbook of employee reward and management, essay on compensation.
London: Kogan Page Limited, Armstrong, Micheal. Employee Reward. London: Chattered institute of personnel development, Dessler, essay on compensation, Gary. Need a custom Essay sample written from scratch by professional specifically for you? certified essay on compensation online. Compensation Management. Steps in developing internal consistent compensation system Most organizations have developed robust compensation systems as a step of increasing employee motivation and achieving organizational goals. Learn More. We will write a custom Essay on Compensation Management specifically for you!
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Compensation, an Essay of Ralph Waldo Emerson, Audiobook, Classic Literature - 2017
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Ralph Waldo Emerson is a great writer and it’s proved by his essay “compensation.” What is the life of middle class people? How they survive in such low compensation? All these questions are answered in this essay. This essay truly reflects the Feb 08, · Employee compensation in most cases refers to the cash benefits that individuals receive as an exchange of the services rendered to their employer. In most cases, at least in many countries, individuals earn a certain wage or salary due to the work they do to their employers. For example, in the United States, almost over 90% of the employees or what is Essays on Compensation. Find. Sort by: Get a Custom Essay Writer Just For You! Experts in this subject field are ready to write an original essay following your instructions to the dot! Hire a Writer. views 7 pages ~ words. Compensation Choices. Benefits and Coverage of Health Insurance
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