Compensation and Benefits

An employee is a vital component to an organization. Management of this component is essential for an organization to achieve success. The main objective of an organization is making profit and be successful in keeping her competitors at bay.Advertising We will write a custom research paper sample on Compensation and Benefits specifically for you for only $16.05 $11/page Learn More Firms which have been able to unite brains have been able to achieve their set goals. Organizations need to ensure that the positions in the organization are filled and anytime there is a vacant position, appropriate actions need to be undertaken to ensure the positions remain filled (Stoner, Freeman Gilbert, 2003). This will ensure that there is no backlog of work and that the firm’s systems are operational at any given time. The employee is responsible for the implementation of the firms plan. Sound human resource policies are important in the selection and recruitme nt of employees. This will ensure that the firm has the right people to fill various positions (Koontz, 1961). Good working conditions and a competitive salary is also vital to motivate the employees towards achieving the organization dream. Human resources, a body responsible for hiring and firing employees, are tasked to prepare salary scales of the workers to be approved by top-level management. The article aims to discuss compensations and benefits system. In addition, the importance of Holland Enterprises to increase its expenditure base to enhance organizational success is also discussed. How an effective compensation and benefit system contributes to organizational effectiveness Compensation and benefits system of an organization is vital to cope with the day-to-day competition posted by competing firms. This scheme helps ensure employees are motivated at all times. According to recent researches, employee motivation is directly related to the level of production in that the more an employee feels he is cared for the more he will be induced to contribute fully to the firm’s revenue (Bonner et al., 2006). An effective benefit system ensures that all company employees are taken care of as far as their salaries, enumerations and benefit schemes are concerned. In addition, an effective system ought to be in line with the market levels. Compensations are either monetary or non-monetary.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Monetary compensation has money value attached to it while the non-monetary compensation entails recognition and improving working environment. The appreciation of an achievement is enough to retain a worker in the firm. Firms with a strong reward system have managed to keep employees in their systems for long as compared to firms with weak or no compensation systems at all (Bell, 2007). Organizational culture is a neces sity in the success of a firm. An effective compensations and benefits system helps nurture this culture. The designation of a compensation system is in accordance to the company objectives and goals. Therefore, given the reinforcement of the organizational culture, companies will relatively realize massive success. Compensation and benefits system is designed primarily incorporating the objectives of the firm (Bell, 2007). The aforementioned initiative is meant to entwine a benefit with a goal; a benefit is attached to the achievement of a goal. In addition, the harmonization of an organization compensation strategy enables the firm to retain the already attracted talent. This retained talent is important to the success of the firm in that it has massive experience to be used to the advantage of the firm. In accordance to the recruitment requirements of most organizations, trainings are part of the process. Losing of these brains to the competitors is a double tragedy to the firm a s important information about the firm will be lost to the competitors. Organization information in the hands of a competitor is harmful to the company-formulated policies as the competitor can counter the firm’s moves. Retaining the trained and talented staff is paramount to maintain the organization’s secrets and use them to the company’s advantage. This is achieved through the establishment of a sound compensation and benefits systems that covers all the employees. Attracting and retaining the right personnel in the firm enhances success. This is because of the competence that transforms the daily operations in the firm. The competent individuals streamline the systems resulting to customer satisfaction, hence the increase of business. Employees are sensitive to the equitability in the salary scales, and for firms to realize massive motivation. Compensations systems help root out inequitable systems that lower morale hence increasing organizational success. T he principle components of a typical compensation and benefit system for a large-scale organization Organization compensation and benefits philosophy helps a firm to attract and retain competent well skilled employees. Constant review of this philosophy is important to ensure it is in line with the market and individual performance. In giving a competitive package in terms of salaries and other initiatives, an organization is able to attract brilliant brains from competing firms.Advertising We will write a custom research paper sample on Compensation and Benefits specifically for you for only $16.05 $11/page Learn More This is vital to the thriving of the firm’s activities. The philosophy review ought to address the individual unrelenting service to the firm in each level. This ensures the recognition of individual contribution to the success of the firm. Performance of individuals is related to the business unit success. The company philosophy e nsures that successful units are both recognized with monetary or non-monetary rewards. This encourages competition within units of the company hence enhancing the amount of revenues. Moreover, a firm’s philosophy is about the wellbeing of the employee; this is looked in terms of the health, and other retirement benefits. A nice philosophy is sensitive to the life of an employee and how the worker skills can be improved in terms of additional training in the field of specialization (Bonner et al., 2006). Compensation benefits systems need to be sensitive when designing an all inclusive pay structure. A well-designed structure needs to factor in both internal and external salary grading. The system’s compliance with the labor legislations together with the market salary wave is important (Bonner et al., 2006). Salary scales need to match with those in the market. Subsequent benefits need to be better than for the traditional competitors. The pay structure that addresses the expectations of the employees is a necessity if a system is to be stable. The difference between job grades need to be based on merit and the level of responsibility to ensure that employees do not feel discriminated. This will maintain mutual respect and avoid sabotages at the work place. Ratio of base pay to incentive pay is an important component of a compensation and benefits systems. An organization system rewards need to be based on the dedication of employees to service. The ratio between base pay and incentives vary between employees of different levels. Base pay increase needs to be based on the extra hours an employee has sacrificed on behalf of the firm. The reward will encourage additional dedication from the employee and induce others to follow suit. In addition, the system can give a pay rise in relation to the job skills of an employee. The increase in incentive pay is meant to trigger performance. A higher pay will highly motivate employees. Equity is the nerve of a compensation and benefits systems. Employees need to be treated with utmost respect and need to feel equal with their fellow employees and colleagues in competing firms. This is a sensitive issue to balance and it calls for extensive research to ascertain the salary and remuneration levels applied in the market.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Employees feel motivated when they feel they are considered equal with their colleagues. Any act of inequality will affect the firm’s success negatively as it demoralizes the worker. Transparent systems nurture trust among employees and also their trust towards the organization. Avoidance of secrets in the compensation system is paramount to nurture motivation and prevent worker exits. Compensation and benefits systems are manmade and therefore prone to errors. However, the strategy is to enable it fully comply with the postulated legislations which guide workers. The strategy of this system is to keep the competitive advantage of a firm while maintaining the satisfaction of employees. The system rewards effort and endurance by workers. Pay and rewards increases with increase in the performance levels. The employees’ life is important and the certainties of the future through sound retirement policies are important to motivate and keep employees in an organization for long periods (Bunderson, 2003). In accordance to the vivid explanation, it is paramount for Holland enterprise to increase the margin of its compensation and benefits expenditure. The initiative is prudent as the discussion elaborates the benefits to be accrued when an employee is taken care of. References Bell, S. T. (2007). Deep-level composition variables as predictors of team performance: a meta-analysis. Journal of Applied Psychology, 92: 595-615. Bonner, B. L., Baumann, M.R., Lehn, A. K., Pierce, D. M. and Wheeler, E. C. (2006). Modeling collective choice; decision making on complex intellective tasks. European Journal of Social Psychology, 36: 617-33. Bunderson, J. S. (2003). Recognizing and utilizing expertise in work groups: a status characteristics perspective. Administrative Science Quarterly, 48: 557-91. Koontz, H. (1961). The Management theory jungle. In Journal of the Academy of Management, December. Stoner J., Freeman R., Gilbert, l R. (2003). Management, Sixth Editi on. New Delhi: Prentice-Hall of India. This research paper on Compensation and Benefits was written and submitted by user Santino Salazar to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Duty vs. Desire Essays

Duty vs. Desire Essays Duty vs. Desire Essay Duty vs. Desire Essay Essay Topic: The Glass Menagerie The road to self-actualization is one filled with forks. One must constantly make decisions that affect character and one’s ultimate destination in life. Some travel this road very consciously, making informed and well thought out decisions that they hope will lead them in the right direction. Others live haphazardly, not taking into account the possible consequences of poor decisions. Often times one of the most major forks is a decision between moral obligation and private passion. Pressing matters of family or work may call one to put personal aspirations on hold for the sake of the whole. But does one necessitate abandonment of the other? Which way will lead to a happier life? Tom Wingfield, the disillusioned narrator of Tennessee Williams’ Depression-era play, â€Å"The Glass Menagerie,† must battle through this specific plight. He struggles to find the answer to the question of when desire overrides duty. All humans are blessed with a plethora of gifts, but all have one in common: life. This being said, there is one common humanistic duty: the obligation to live that life in the most satisfying manner in the hopes of reaching fulfillment. However, the individual decides which manner is most pleasing to himself or herself, and one person’s idea of a life well lived is wholly different from another’s. This fact should not be disdained, but embraced. Diversity is what allows for unique and inspirational perspectives that can create new ideas and changes in society and culture. Nevertheless, there are those that do not share this view, which leads to an all-too-common clash of wishes – between parents and children, subordinates and superiors, students and elders, etc. Tom Wingfield conflicts with his mother, Amanda, in this way. Her only wish is that her children, Tom and Laura, fulfill the classic American Dream of hard work and success. However, Tom has dreams of being a writer, and Laura is too painfully shy to even leave the house. Clearly there will be at least one person displeased at the end of the day. The Wingfields live lives of short fuses hidden under good intentions – Tom and Laura do not wish to disregard their mother entirely, but they have their own wishes that she does not respect. There are daily battles over who has the right to decide the lives of the family. Tom rightfully uncovers the truth that in order to achieve true happiness in self-actualization, one must choose the paths one takes alone. As stated above, some people truly put thought into their decisions, while others do not. This done not imply that the thought-out choice is the superior one. One can reflect upon an important decision for weeks, months, or years, and still make the wrong choice. If this is true, how is one supposed to make the proper choice? How does one settle on the fork leading to the happier life? The answer is blunt and cruel. Sometimes there is no â€Å"happier life. † Many situations present themselves with no clear better choice. Tom debates his ever-growing desire to desert Amanda and Laura and live the life he feels he would enjoy infinitely more. He convinces himself that this would be his happier life, and does leave in the end, but not without some unwanted baggage. Wherever he goes, he is haunted by guilt of leaving Laura behind. It is evident that even when one does all the right things, when one takes into account outcome and consequences, and still makes the decision alone, it is very possible that there is no silver lining. One must simply do one’s best to make the decisions one feels good about and live with them.

Dicken's and Wright Essay Example | Topics and Well Written Essays - 750 words

Dicken's and Wright - Essay Example ld, hard facts in numerous treatises and injunctions that would have few readers and fewer active responders, Dickens opted to include these details within his fictional stories while Wright opted to present his own autobiography in story form. In approaching the subjects in this way, these authors engaged readers’ hearts, minds and souls in the issues of the day. This method, referred to as realism, was quite effective in making the public more aware of the problems still to be overcome in London and elsewhere in a modernizing society. While Dickens concentrated on life in England’s cities, Wright attempted to demonstrate the conditions under which millions of black people were forced to live in the Jim Crow era of the American South. Both Charles Dickens’ Old Curiosity Shop and Richard Wright’s The Ethics of Living Jim Crow are effective in demonstrating how realism can establish the case for social change. The tragedy of the Old Curiosity Shop is that Nell Trent and her grandfather are unable to break out of the poverty of their lives and suffer wasting death as a result. Examining an excerpt from the 45th chapter of the book illustrates how the narrative provides grisly details of the life of the masses as they existed beneath or behind the glitz of the new machinery and wealth of the age. In this chapter, Nell and her grandfather are seen to walk through a ‘dismal town’ characterized by ‘shrinking leaves’ and ‘rank flowers’ to give an overall impression of the town as ‘blighting and unwholesome’ (83). Rather than having the excitement and promise typically associated with moving to a new place, Nell and her grandfather experience â€Å"the dark, depressing influence stale upon their spirits† and feel the weight of their poverty and struggle (83). Through his use of imagery and sensual description of the dirty industrial town described in this chapter, Dickens enables his readers to almost feel the realty of the polluted