...DeVry University HRM-430 Week 3 Assignment Compensation embodies both the intrinsic and extrinsic rewards employees obtain for accomplishing their jobs. Collectively, both intrinsic and extrinsic compensation refer to a company’s total compensation system. Innate compensation replicates employees’ psychological mind-sets that stem from accomplishing their duties. Extrinsic compensation consists of both financial and nonfinancial benefits. Organizational development professionals promote intrinsic compensation through effective job design. (Martocchio 4) Compensation is based on the following: • market study regarding the value of comparable jobs in the marketplace, • employee contributions and achievements, • the accessibility of employees using comparable skills in the marketplace, • the need of the employer to appeal and retain a certain employee for the value they are recognized to add to the employment relationship, and • the profitability of the company or the funds available in a non-profit or public sector setting, and thus, the ability of an employer to pay market-rate compensation. “Compensation moreover comprises payments such as bonuses, profit sharing, overtime pay, recognition rewards and checks, and sales commission. Compensation can also consist of non-monetary perks such as a company-paid car, stock options in certain instances, company-paid housing, and other non-monetary, but taxable, income items.” (Heathfield) Overview of Compensation Philosophy ...
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...challenges: Recruiting and retaining talented Individuals and maintaining the current work culture environment with growing staff PremiumSoft is a company that provides Software solutions. Lin and Roy Choi primarily founded it as a Web design company in year 1999. However this web design company provided the seed money to grow it into a software development company. PremiumSoft’s main software solutions are “Navicat” and “ Navicoder”. Navicat was launched in 2001 as a database tool that manages and administers multiple databases across different operating systems like Linux, Windows, Mac OSX using a graphical user interface. (GUI). Whereas Navicoder was launched in 2009 as source code editor, compatible for windows. PremiumSoft is small scale organization comprising of 24 staff members. Its organizational structure is provided in appendix {1}. PremiumSoft work culture is based on trust and sense of belonging among employees, imparting a mix of “ Authoritative”, “Affiliative “ and teaching style of management and employee interaction, which results in high innovation and productivity in the organization. However with the expansion in staff this work culture may impose restrictions on company’s overall growth and productivity hence a stricter and more compelling employee workplace guidelines need to be incorporated. As for recruiting talented individuals and retaining them, Management primarily needs to extend its hiring process internationally attracting candidates from global...
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...centralizing its human resource department and has recently hired two educated individuals to help with reinforcing and improving the human resource function. Therefore, it would be beneficial to utilize these new additions to Tanglewood and not let the hiring be done by an outsource agency. Since Mr. Perrone and Mrs. Gonzalez have been informed of the weaknesses of the staffing process they are knowledgeable on what type of employees would be valuable for Tanglewood. c. External vs. Internal Hiring iii. Tanglewood is committed to providing maximum values and a strong culture for its employees. Tanglewood also wants their customers to experience a unique and personable shopping experience. Consequently, internal hiring will be beneficial for this company because it strives to employ the most qualified and committed individuals. Internal hiring boosts motivation, morale, and performance which helps form exceptional employees. d. Core vs. Flexible Workforce iv. Tanglewood currently only employs part-time and full-time employees and has not implemented a flexible workforce. Using a flexible workforce...
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...shortage (beside to administrative leaders) has captured the attention of health organizations, policy makers, researchers, academic institutions, and the profession itself (Kirschling, Colgan, & Andrews, 2011). A significant amount of attention targets hospitals since they employ the largest percentage of nurses. Importantly, challenges that stem from the nursing shortage must be addressed in a proactive manner to support endeavors of providing excellent patient care for patients, families, and communities served. Furthermore, healthier environments would help prevent burnout among nurses producing poor morale. Retention of current nurses and attracting new individuals to the profession is paramount if we are to sustain adequate numbers of qualified professionals. Healthcare organizations are the cornerstone of nursing employment. These institutions have difficulty hiring new staff as well as keeping current professional nurses. Halfer (2011) reported that hospital leaders must support nursing job satisfaction as well as professional practice development. In effect, this will result in an increased probability of retaining staff that are incredibly expensive to replace monetarily and time-wise from the perspective of developing a well functioning team. When hospitals do not have an adequate number of nurses to provide safe, effective patient care, this has the potential to cause conditions in which the...
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...HROB 2100 Selecting, Retaining, and Motivating Employees Within the Workplace The topic of human resource and understanding organizational behaviors has been becoming more and more relevant, important, and crucial to the underlying success of a business. That is why more and more businesses today are adapting and implementing the practice of HR programs and organizational behaviors. Expanding on the thought of HR programs and organizational behaviors, they both stem from the managerial position and each managerial position within a business is responsible for integrating and incorporating these HR and OB theories and practices. As a manager, you would integrate both of these theories and create a foundation that becomes a guideline to be based on selecting, retaining, and motivating your employees. However before these guidelines are made, they are all determined and influenced by the company’s particular structure, culture, and strategy, which is different for all businesses and an example of this can be found virtually in any business operation. Therefore if I were the manager of a business the matters of selecting, retaining, and motivating employees would depend on the type of business I was working for, their specific culture, structure, and strategy. For example Hoover (2009) Disney is the world’s second largest conglomerate and only second to Time Warner’s (p.1-2), which easily affirms and attests to the success of their business, when you look at a business like...
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...Running Head: Financial Management Financial Management Valerie Cazeau Professor Roy Viar Contemporary Business Strayer University Abstract This assignment examines Google as one of the leaders in the information searching industry and its main competitor Microsoft with its introduction of Bing. The examination of these two organizations stem around their business models and their most recent financial statements which include, specific financial ratios, core business ideas, leading services, management styles and their innovation tracks. In addition, this assignment will analyze which company would better survive a major recession, which organization is better to invest in and provide the guidelines for doing so. Introduction To start, the financial ratios of Google and Microsoft will be listed. By doing this, it will create a great platform to analyze the companies’ differences and ultimately conclude which company shows the best resistance to a major recession and ultimately which company may be best to invest in. Here are the six main financial ratios that will be analyzed for Microsoft and Google. Microsoft Google Current Ratio 2.9 5.6 Return on Assets 21.9% 13.9% Return on Equity 39.5% 17.5% Debt Ratio .20 .08 Fixed Asset Turn Over Ratio .7 .6 Dividend Payout Ratio/Cash Flow Per Share $3.12 $34.90 Price/Earnings Ratio 3.64 18.0 (Google Inc. and Microsoft Corporation, 2011. Forbes) ...
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...Problem Recognition Should IKEA become less Swedish and more multicultural? Objectives ▪ To deliver its brand promise to consumers; which is “to create a better everyday life for many people” ▪ To preserve IKEA’s culture and well-define values; togetherness, cost-consciousness, respect and simplicity ▪ To combine fundamental product offerings between low price, well-designed and high quality in order to create consumers’ satisfaction ▪ To take responsibility for people and environment as a prerequisite for doing good business Barriers ▪ Different consumer behavior in different countries; the purchase are highly influenced by cultural and social factors which are diverse in each country. For example, most of people in Hong Kong live in tiny apartment due to restricted estate. They, therefore, prefer moderate and practical furniture for limited space of their dwellings. ▪ Hard to control quality of local suppliers’ production; in some market, IKEA outsources to manufacture its products in lower cost countries. This method can well significantly generate the company’s success to be low cost player. It, however, might have a difficulty in controlling and examining quality of products. ▪ Strong local competitors; who has more experiences and information about the battlefield definitely has advantages in playing games on the rivals. Since the global brand like IKEA forays into countries outside Sweden, the company is facing with local competitors...
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...Dell is an American technology company based in Round Rock, Texas which develops, manufactures, sells, and supports personal computers, servers, data storage devices, network switches, software, televisions, computer peripherals, and other technology-related products. In 1984, Michael Dell while a student at the University Of Texas founded the company as PC’s Limited with a capital of 1000.00. He operated from his off campus dorm room where he strived to sell IBM PC compatible computers. He believed that by selling personal computer systems directly to the customer, PC’s Limited could better understand the needs of the customers. Michael Dell then dropped out of school to focus full time on his growing business after receiving 300,000.00 in expansion capital from his family. In 1985 the first computer of its own design was produced and called “The Turbo PC.” PC’s Limited advertised the systems in the national computer magazines for sales directly to the consumers and custom assembled each ordered unit. This offered buyers prices lower than those of retail brands. Although PC’s Limited was not the first to use this model, they were the first to succeed with it grossing over 73 million in the first year. In 1987 the company set up its first operations in the United Kingdom. Eleven more international operations followed in the next 4 years. In 1988 the company changed it’s name to Dell Computer Corporation. Dell grew through the 1980s and 1990s and became the...
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...Dell History Dell is an American technology company based in Round Rock, Texas which develops, manufactures, sells, and supports personal computers, servers, data storage devices, network switches, software, televisions, computer peripherals, and other technology-related products. In 1984, Michael Dell while a student at the University Of Texas founded the company as PC’s Limited with a capital of 1000.00. He operated from his off campus dorm room where he strived to sell IBM PC compatible computers. He believed that by selling personal computer systems directly to the customer, PC’s Limited could better understand the needs of the customers. Michael Dell then dropped out of school to focus full time on his growing business after receiving 300,000.00 in expansion capital from his family. In 1985 the first computer of its own design was produced and called “The Turbo PC.” PC’s Limited advertised the systems in the national computer magazines for sales directly to the consumers and custom assembled each ordered unit. This offered buyers prices lower than those of retail brands. Although PC’s Limited was not the first to use this model, they were the first to succeed with it grossing over 73 million in the first year. In 1987 the company set up its first operations in the United Kingdom. Eleven more international operations followed in the next 4 years. In 1988 the company changed it’s name to Dell Computer Corporation. Dell grew through the 1980s and 1990s...
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...terms of operation and management. Foreign Literature Today, people in our society seem to be caught in the rat race of life. They have very busy time schedules and find it hard to perform the mundane services of their lives which take significant proportion of the available time. For instance in 1997 it was established that 25 hours a week were devoted to childcare, housework or shopping by mothers in dual earner couples by Robinson, J.P. and Godbey, G. in their book Time for Life.: The Surprising Way American Use Their Time. For fathers the figure was 14.5 hours. This in turn forced people to use their working time for personal agendas. In fact Circles, 2001 revealed that 75%of employees take care of personal responsibilities while on the job. Further it was also established that employees spend an average of 1.86 hours per eight-hour workday on something other than their jobs, not including lunch and scheduled breaks. On the other hand with baby boomers getting to the late stages of their lives the whole world is experiencing the issue of ageing population. This elderly community becomes another customer segment of the Errands Service businesses as they need the assistance of somebody else but hate becoming a burden to their friends and relatives. As a result, today, there are many people who are more than glad to pay for someone who offers them these errand services. This has paved the way to a sudden emergence of a whole range of new opportunities which has turned this...
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...Running head: DIVERSIFICATION STRATEGIES Week 4 Assignment 2 Dr Hassan Yemer Contemporary Business/BUS 508 Strayer University January 24, 2011 1) Compare and contrast the two businesses—core business, their size, financials, global presence, use of e-business (marketing, sales, etc.). A diversified company is one that has multiple, unrelated businesses. Unrelated businesses are those, which (1) require unique management expertise, (2) have different end customers and (3) produce different products or provide different services. One of the benefits of being a diversified company is that it buffers a company from dramatic fluctuations in any one-industry sector. However, this model is also less likely to enable stockholders to realize significant gains or losses because it is not singularly focused on one business. Investopedia (2011) states that companies may become diversified by entering into new businesses on its own, by merging with another company or by acquiring a company operating in another field or service sector. One of the challenges facing diversified companies is the need to maintain a strong strategic focus to produce solid financial returns for shareholders instead of diluting corporate value through ill-conceived acquisitions or expansions. Wal-Mart and Kmart; along with Target are the three primary retail...
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...DISCREPANCIES BETWEEN WHAT PEOPLE SAY AND WHAT THEY DO Sara L. Rynes, Barry Gerhart, and Kathleen A. Minette A majority of human resources professionals appear to believe that employees are likely to overreport the importance of pay in employee surveys. However, research suggests the opposite is actually true. We review evidence showing the discrepancies between what people say and do with respect to pay. We then discuss why pay is likely to be such an important general motivator, as well as a variety of reasons why managers might underestimate its importance. We note that pay is not equally important in all situations or to all individuals, and identify circumstances under which pay is likely to be more (or less) important to employees. We close with recommendations for implementing research findings with respect to pay and suggestions for evaluating pay systems. © 2004 Wiley Periodicals, Inc. It is easy to overestimate the frequency with which adults actually go to the opera and underestimate the frequency with which they watch TV cartoons on Saturday mornings, based on their self-reports. (Nunnally & Bernstein, 1994, p. 383) Rynes, Colbert, and Brown (2002) presented the following statement to 959 members of the Society for Human Resource Management (SHRM): “Surveys that directly ask employees how important pay is to them are likely to overestimate pay’s true importance in actual decisions” (p. 158). If our interpretation (and that of Rynes et al.) of the research literature...
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...SHRM Foundation’S EFFEctivE PRacticE GuidElinES SERiES Retaining A Guide to AnAlyzinG And MAnAGinG eMployee turnover Talent SHRM Foundation’S EFFEctivE PRacticE GuidElinES SERiES REtaininG talent A GuiDe to AnAlyzinG AnD MAnAGinG eMPloyee tuRnoveR by David G. Allen, Ph.D., SPHR i REtaininG talent This publication is designed to provide accurate and authoritative information regarding the subject matter covered. Neither the publisher nor the author is engaged in rendering legal or other professional service. If legal advice or other expert assistance is required, the services of a competent, licensed professional should be sought. Any federal and state laws discussed in this book are subject to frequent revision and interpretation by amendments or judicial revisions that may significantly affect employer or employee rights and obligations. Readers are encouraged to seek legal counsel regarding specific policies and practices in their organizations. This book is published by the SHRM Foundation, an affiliate of the Society for Human Resource Management (SHRM©). The interpretations, conclusions and recommendations in this book are those of the author and do not necessarily represent those of the SHRM Foundation. ©2008 SHRM Foundation. All rights reserved. Printed in the United States of America. This publication may not be reproduced, stored in a retrieval system or transmitted in whole or in part, in any form or by any means, electronic, mechanical...
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...in my opinion, stems from the inability of humanity to comprehend the personal prejudice attitudes and the failure to see past another individual’s race, gender, or sexual orientation to see the positive potential and the ability to perform the job. “Immigration, worker migration (guest workers), and gender and ethnic differences continue to change, dramatically, the composition of the workforce” (Barak, 2013). The US Armed Forces is home to virtually every possible ethnic and religious group, a team with whom has a single purpose to protect our nation, to fight for and preserve our freedom. Introduction In the military, diversity is a complex subject, both conceptually and regarding managerial and practical implications. This is one of the most significant and challenging tasks that human resource management, and military leaders, over the past two or three decades, have had to face. Recruitment, training, and maintaining employment is challenging traditional military attitudes, norms, beliefs and values. Human resources have adapted, and revised programs, philosophies, practices, and policies. Diversity (or heterogeneity), in all its forms, is a topic of contemporary concern and debate, as well as an influence on transformation and change; which gives challenges for employers, governments, and institutions. Understanding Diversity in the Military Diversity is an imperative; that spans across all of the services to remain competitive in attracting, recruiting, and...
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...Course Project Increasing Manager Morale and Satisfaction Submitted By: John Doilies jwdorilio@sbcglobal.net October 21, 2012 MGMT 591 – Leadership and Organizational Behavior Keller Graduate School of Management Professor Cecil Horst I. Introduction Aramark Healthcare Services (“AHS”) is a division of ARAMARK Corporation (“ARAMARK”) based in Philadelphia, Pennsylvania. ARAMARK is a multibillion dollar company located in twenty six counties with approximately 200,000 employees worldwide. The company is hired as a contractor to provide managed services in the area of food, housekeeping, facilities, engineering, call centers, and medical equipment maintenance. AHS provides services to hospitals and senior care facilities primarilily in the United States. ARAMARK is considered one of the big three, along with Compass N.A. and Sodexo USA, as far as managed services are defined. AHS provides these managed services at a local hospital, EDCH Healthcare (“EDCH”), here in Illinois at which I am a member of the management team. We have been at this account for approximately ten years; I have been at this location for just over five years. At this specific location the services we provide are primarily food related: patient services, catering, a retail café, and a coffee shop. I joined the organization in mid-2007 coming over from another big three management company. My role here at EDCH is to manage retail operations in the café, and coffee shop. The café is a...
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