...| | | |1 |November 16 to 22 |Module 01- Human Resources Management in perspective | | | | |Lesson # 1- Human Resources Management in Perspective |Review Power Point Presentation. | | | |Read Articles 1, 2 | | | | |Lesson # 2- Human Resources and Corporate Strategy | | | | |Read Articles 4 & 5 |Submit: *Exam #1 | | | |Lesson # 3- Americans with Disability Act |( due on November 22, 2015) | | | |Read Articles 7 |...
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...Primary Components of Compensation Management By: Desteni Lawhorn HR434 Compensation Management Park University Submitted: April 24, 2011 Too much focus on trends and hot topics. Not enough focus on customizing programs and processes to address real needs. People have programs looking for an application rather than analyzing the issue and then determining what's the best program or process. Too many start at the end and work toward the beginning. Logically they should start at the beginning. -Bruce Ellig Compensation management is more than just remuneration to appeal or retain capable employees, it is the leverage an organization utilizes to obtain, and retain its human capital and provide competitive positions within the organization. Recently, Human Resource departments have focused on the latest compensation trends or are geared toward rewards without merit, relevance or fit. This is a common mistake as compensation management should be focused on primary components of job analysis, pay structure and salary surveys. Human Resource departments must apply these fundamentals in the compensation management system in order to integrate well in an organization. Compensation management affords an organization the ability to reward superior execution and maintain the top employees in a particular field that contribute to the overall success and profitability of an organization. Through utilization of the basic fundamentals, organizations can visibly assess the employee’s...
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...Table of Contents Introduction 2 Summary of the Article 2 Overview of Positive Accounting 2 Research Question 3 Theoretical Framework: 3 The Significance and Limitations of the Article: 4 Findings of Article 4 Conclusions 5 Bibliography 5 References 6 Introduction The main purpose of this report is to focus the positive accounting theory “Towards a Positive Theory of the Determination of Accounting Standards” and written by (Watts & Zimmerman, 1978) Ross L. Watts and Jerold L. Zimmerman, who indicated with a number of significant research in order to describe and contribute positive accounting theory Summary of the Article The element of this article has found that management wealth are based on accounting standards such as cost of production, (purchase, labour and overhead) taxes, political influence. All of these elements are effect in a different way on the management benefits. One of the main points of this article is that earning policy which means (decreasing profit or increasing profit) affects the company size, reputation of entities and certain standards. As a result of this development, management of the organization wealth will increase in a positive way. It is definitely clear to say that (Watts & Zimmerman, 1978) used solid data from the entities, which produce information to the FASB's Discussion Memorandum on General Price Level Adjustment. Findings of this report include to "choose accounting standards which report lower earnings...
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...CRITICAL ESSAY: COMPENSATION EQUITY IN CHINA Hou Guangjian ABSTRACT In China presently, employees receive different compensation according to all kinds of ad hoc definitions of external equity, internal equity and individual equity. Consequently, employee attitudes toward work and social status are affected. If the government would provide people with access to better education, legal measures that guarantee fair competition, and training opportunities to people who have need, the Chinese people would have greater reason to believe that improved compensation equity will be realized in the future. INTRODUCTION Two years after the death of late chairman Mao Zedong, Deng Xiaoping launched century. During the past twenty-five years, the country has witnessed tremendous gains in economy and social wealth in general. Although, on the average, people are leading a much better life, the gap between rich and the poor is becoming larger. As a large developing country in a transition period from a planned economy to a market economy, China at present has to adopt a de facto policy of “letting a few people get rich first” to stimulate enthusiasm and initiative for the rest of the population. Thus, the usual egalitarianism -- what Chinese term the “Large Bowl” -- has been smashed. People working at similar jobs receive different compensation. Various ad hoc definitions of external equity, internal equity and individual equity influence compensation and, consequently, employee attitudes toward...
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...appraisals are a formal method of evaluating employee work and determining merit increases. Noe, Hollenbeck, Gerhart and Wright (2003) suggest there are three key aspects of the performance appraisal process: (1) establishing mutual goals and objectives, (2) using a valid and objective measurement method, and (3) linking employee performance to compensation. This case study will define the performance appraisal process, these three aspects of performance appraisals, discuss their importance, and illustrate their general impact upon the organization. Finally, specific company examples will be offered to demonstrate how these appraisal steps are practiced at Hewlett-Packard, New York Life Insurance, and IBM. Establishing Mutual Goals and Objectives at Hewlett-Packard According to Noe et al. (2003), many companies establish goals and objectives as a means of communicating desired employee performance targets. The authors suggest that company interests can only be achieved when those interests are aligned with the skills and energies of the individual employee. A process of negotiation and compromise must occur between management and the employee in order to define specific standards of performance that match both corporate goals and individual abilities and interests. Noe et al. go on to report that mutual goal setting is an essential first step in the performance appraisal process and is required to provide a foundation for assessing both past and future employee performance...
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...Approved by the Board September 2012 BEST BUY CO., INC. COMPENSATION AND HUMAN RESOURCES COMMITTEE CHARTER Purpose The Compensation and Human Resources Committee (“Committee”) of Best Buy Co., Inc. (“Company”) is appointed by the Board of Directors (“Board”) to discharge the Board’s responsibilities relating to Executive Officer and Board member compensation, including the establishment of the Company’s executive and director compensation philosophies, preparation of a report as required by the Securities and Exchange Commission (“SEC”) to be included in the Company’s annual proxy statement and evaluation of the Company’s Chief Executive Officer (“CEO”). The Committee is also appointed to oversee the development and evaluation of, and to approve, equity-based and other incentive compensation and to oversee the Company’s human capital policies and programs. Committee Membership The Committee will be composed of at least three directors each of whom are independent as defined by the New York Stock Exchange listing standards. All Committee members will also be “non-employee” directors as defined by Rule 16b-3 under the Securities Exchange Act of 1934 and “outside directors” as defined by Section 162(m) of the Internal Revenue Code. The Committee members and Chairperson will be appointed by the Board pursuant to the recommendations of the nominating committee of the Board and may be removed by the Board in its discretion. The Committee will have authority to...
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...BUS 681 Entire Course Compensation and Benefits http://www.devryguide.com/downloads/bus-681-entire-course-compensation-benefits/ To purchase this tutorial copy and paste link in your browser. BUS 681 Entire Course Compensation and Benefits Week 1 Compensation Strategy. Discuss the general goals of an organization’s compensation system, including how a compensation strategy works to support the organization’s business strategy. Respond to at least two of your fellow students’ postings. Compensation Practices. Discuss the various factors that influence a company’s competitive strategies and compensation practices. Assess how a company can mitigate these factors using effective compensation practices. Respond to at least two of your fellow students’ postings. Journal Article Research and Analysis. Using a variety of research techniques, write a 3-5 page essay that summarizes the impact and affect of compensation within an organization. This essay should be based on research obtained through a minimum of three Journal articles. Week 2 Seniority and Merit Pay. Define the concept of seniority and merit pay plans, including the strengths and limitations of such plans within an organization. Discuss the job, organizational and/or other factors that should be considered when deciding between the two. Respond to at least two of your fellow students’ postings. Incentive Pay Plans. Discuss how incentive pay plans – both individual and group – motivate employees to achieve...
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...of Performance Management. This process should include performance planning, observing performance, and providing positive and corrective feedback, and developing periodic performance summaries. Companies use these performance reviews, and employees provide performance, and in exchange employers provide rewards, which are distributed via payroll systems. Should all feedback be positive, or negative? Should rewards be given for employee performance? Should companies get rid of the performance reviews? I found a recent article that makes these arguments. Results As I first read through the article, I thought that the reader was as I was before taking this HRIS course. I was ignorant to the benefits of HRIS systems. I continued to read and found that my thoughts were true. According to Samuel A. Culbert, Get Rid of Performance Reviews, (2012), performance reviews destroys morale, kills teamwork, and hurts the bottom line. According to HRIS (2012), performance data is used for promotions, lay offs, assignment to training programs, developmental assignments, training and development, and staffing. It’s not to kill moral, teamwork and the company’s bottom line. Culbert says that although performance reviews are to enlighten employees about what they should be doing better or differently, he sees it as intimidation aimed at preserving the boss’s authority and power advantage. Wow, I thought of the mind set of myself, when first given a performance review. Not understanding...
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...Competency based Compensation system- As strategic HR Critical Review Komal Sarwar 4172 Human Resource Management Submitted to: Ms. Tehzeeb Amir Submitted on: 13th Oct’ 2012 Introduction and Overview of the article: The article that was provided was based on the compensation plans that an organization creates according to the capability and competency of its employees. It states the path that the organizations have taken to change how the traditional compensation plan were formed in the older days to the strategy they now apply to allot the compensations and incentives to the employees. Compensation management is one of the most important function of the organization, keeping in mind both the parties, as it gives a push of motivation to the employees towards their work and commitment towards the organization, making them work more effectively and efficiently. The draft gives an overview of what competencies are. Competency is actually the whole process on how things are done, rather than the outcome or result. It relates to the value that is added by each individual while performing any given task. It is further elaborated that there are three key categories of competency i.e. (a) organizational competency, that acts as a key factor in the success of an organization, making it competitive by figuring out the strengths and working more efficiently to enhance it; (b) job related competency, they vary from organization to organization, and from one task to another...
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...of collective bargaining agreement. Collective bargaining is the act of negotiating employment conditions such as wages and roles between the employer and the employees. I researched collective bargaining and Funk & Wagnails New World Encyclopedia states, “The bargaining process is concerned with wages, working hours, fringe benefits, job security, and other matters relating to working conditions.”(2015) There are four issues that are mandatory components of collective bargaining agreement. The first issue is compensation. Compensation includes wages, fringe benefits, vacations, and holidays, shift premiums, and profit sharing. The second issue is personnel, policies, and procedures, which are layoffs, promotion, transfer policies, overtime, and vacation rules. The third issue is employee rights and responsibilities such as seniority rights, job standards, and workplace rules. Employer rights and responsibilities is the fourth issue and that includes management rights, just cause discipline and discharge subcontracting , and safety standards. Collective bargaining is needed and happening all over the world. An example of current events/acts of collective bargaining is what’s going on is Wisconsin right now. Wisconsin’s governor Scott Walker signed a bill on Friday, February 12, 2016. Signing the bill will redo Wisconsin’s hiring and firing practices. The new civil service law eliminates bumping rights. Todd Richmond informs, “The new law also creates merit bonuses, allows...
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...Strategic Management Paper Today healthcare organizations work in a very dynamic environment. The human resource management, or HRM for short, is a function within the organization that plays a major role in providing direction to the company employees. HRM includes different responsibilities which aim towards recruitment and retention, training and development, employee performance management, regulatory compliance, and compensation and benefits. Thus, HRM is functioning to help place the right individuals for the right task and vice-versa to help the organization receive the maximum service from his or her employees. However, HRM is shaped by many factors depending on the type of organization (Traylor, T., Doherty, A., Mc Graw, P., n.d). Recruitment and retention is part of the decision-making in every organization to help obtain the best person to fit the job. The main goal is to assure that organizations will receive qualified people for the job, and order for the business to operate efficiently and effectively. In fact, many companies will evolve and change, while new recruits show enthusiasm to learn to work as a team. Implementing employee retention within the organization will help reduce employee turnover. However, employers can reduce turnover, and many other ways by improving communication within the organization, competitive salary, demonstrate feedback on performance, and flexible schedule. Training and Development provides different processes and activities...
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...Compensation, and Minimum a growing management issue. By: Kendra Wright MGMT 630-9022 Turnitin score : As we enter the second decade of the 21st century and examine the management issues facing today’s organizations one in particular sticks out, and probably has been seen on many media outlets over the past few months. Compensation, and minimum wage a many organizations are encountering especially the fast food industry. The McDonalds Corporation has been at the forefront of this heated minimum wage battle between workers, and management. We will go more depth with the issues surrounding this organization, after we first have an understanding of what exactly minimum wage is entails. The minimum wage policy was created in the late 1930s, the law mandates that hourly pay does not go below a fixed level, and that these regulations are being enforced. There are many debates surrounding the issue of minimum wage. You will find many who believe minimum wage increases the likely hood of unemployment, and is not doing anything to help those stuck in the low earning workforce situation. Countering that argument are those who believe minimum wages ward off or decrease people from falling into poverty and exploitation. (Wilkinson, T.M 2004) In my review of the case study “Minimum Wages and Employment: A Case Study of the Fast-Food Industry in New...
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...| Compensation Does one size fit all? Compensation Does one size fit all? Due date: 6 November 2013 Leadership & People: Tutor: XXX Prepared by: Stephanie Gartrell Student ID: XXX Due date: 6 November 2013 Leadership & People: Tutor: XXX Prepared by: Stephanie Gartrell Student ID: XXX Executive Summary Designing and implementing a compensation package that rewards all staff according to performance, and succeeds in appealing to their individual motivations is an enormous challenge for any organisation. Some find it easier to simply pay a percentage increase to all staff, irrespective of their performance. A literature review was undertaken to determine both the current and historical views of performance management. A vast amount of material has been written in journal articles and textbooks. All point to the complexity of the issue and the apparent inability to find a solution that will suit all. For the last 100 years, HR specialists, psychologists and economists have been collaborating to try and develop a system which would have broad appeal for both staff and employers. Many theorists contributed to the discussions, asserting that individual motivations for pay were based on the theory of agency, goal, control, expectancy, or reinforcement. Performance management systems are necessary to enable companies to enable them to attract, retain and...
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...From Job Analysis to Compensation: The Role of your Human Resource Department Class: HR590 Human Resource Management Due Date: 06/19/2011 Instructor: Danielle Camacho Prepared by: Jason Campbell ON265 Leonard Street Winfield, IL 60190 Jason_campbell13@sbcglobal.net 630-742-1191 Introduction The role of a Human Resource department in today’s world is ever changing. Many years ago your Human Resource department was there to file your pre-employment paperwork and assist with benefits and process payroll. This may have been handled by a department that consisted of one or two company accountants that took on this role in conjunction with watching the company books. Oh how this world has changed. According to Edward L. Gubin, observed in the “Journal of Business Strategy”, the role of a Human Resource department today includes many functions which include “to acquire, develop, and retain talent; align the workforce with the business; and be an excellent contributor to the business.” The HR department now works directly with management teams throughout the company in an effort to help with strategy and the growth of the company. One very important aspect is talent acquisition. Having the right people in key roles within the company is vital to the success and growth. Performing this function includes preparing a job description, recruiting, and then setting compensation. Then a crucial tool used by many HR departments is the process of job evaluations...
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...LaToya Jordan Literature Review October 19, 2014 DeVry University/Keller Graduate School of Management Abstract This paper will explore the ways human resource management has evolved throughout the years and the importance of human resources in an organization. This paper will show a correlation of the components associated with the process of recruiting, hiring, evaluating, and compensation of employees. These steps are vital in selecting the right person that will benefit the organization and its objectives. It will also inform the reader of the types of compensations and how organizations make those compensation decisions. Human Resource Management The role of Human Resource Management (HRM) has evolved throughout the years, shifting from personnel department to human resources. The move was part of the effort to recognize the significance of employees as a structural resource. This change was accompanied by a call that allowed human resources to become a strategic partner with leaders of businesses to make critical and significant decisions. The role of the human resource professional has evolved in a way that they are doing more than just routine employment duties. These professionals are skilled with the ability to handle any and all areas of human resources. Human resource management is the function within an organization that focuses on recruitment of, management of, and providing direction for the people who work in the organization. Human resource...
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