...Compensation Practice Pansy Hobbs Strayer University Compensation Practice Introduction Compensation Strategy is the plan set by the employer to reward the employee based on the position and the type of work among other determinant company specific factors. It spans from direct to indirect compensation. Direct compensation entails monetary reward for the work done while indirect is simply the benefits that accrue from the employment for instance health and insurance. However, it varies from company to company depending on its main activity, culture and philosophy. I set out to research about Apple Inc. This research focuses on the compensation strategies and practices, best practices applied, compensation related challenges, an analysis on how compensation is applied and the negative and positive impacts on shareholders, how labor laws, unions, and market factors impact on compensation practice and the traditional bases of pay at the company. Apple Inc is a technology company located in Cupertino, California, United U.S. The branches are spread all over the world. The founders were Steve Jobs, Steve Wozniak and Ronald Wayne. It had been incorporated in 1977. It deals with the design, manufacture and marketing of personal computers, digital music players, software’s, networking services and third party contents and applications. It's notable for its (i) radical technology. Some of its merchandise are; iPhones, iPads, iPods, Mac, Apple TV and iOS operating...
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...The internship report titled “Compensation practice and Employee satisfaction in Banking Industry’’, is submitted as an partial prerequisite of the BBA program of University of development alternative The purpose of this internship report is to highlight the overall compensation & employee satisfaction activities of “Exim Bank”, along with the brief description of Exim Bank Limited. Writing this report has been a great pleasure & an interesting experience. It enabled me to know the insight activities of Human resource Department. The research method used for this report was survey. After a good effort I came up with a final questionnaire. This questionnaire was given to the groups of different employees for the research. This project helped me tremendously to understand the implication of my book knowledge in the practical field. It has also shaped some of my basic views like how to communicate & carry oneself in the world of business. I realize that certain information enclosed in this report is confidential & should be confined within academic discourse & interest. I am extremely grateful to you for your valuable guidance, diligent effort & awareness whenever it was required. I tried my best to follow your instruction, schedule, format & discipline obediently & sincerely. To complete this study, I have used structured questionnaire & each of the respondents has been interviewed through it. To represent an apparent sight I have used tables & graphs while analysis...
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...Compensation Theory and Practice Term Paper On Compensation Theory and Practice (A study Based on UCBL) Course code: MGT-321 Course Title: Human Resource Management Submitted to Tanzila Ahmed Course Instructor Submitted by Group Name: INNOVATORS Name ID Md. Ahadujjaman 1001010131 Faglul Karim Raihan 1001010142 Abdul Aziz 1001010127 Ashfaqur Rahman 1001010141 Gulam Sarwar 1001010060 Sec-C, 24th batch Department of Business Administration Leading University, Sylhet Date of Submission: August 26, 2011 Compensation Theory and Practice 2 LETTER OF SUBMISSION August 26, 2012 Tanzila Ahmed Lecturer of HRM Department of Business Administration Leading University, Sylhet, Bangladesh Subject: Letter of Submission. Dear Sir, It is an enormous pleasure to submit our tern paper titled “Compensation Theory and Practice” assigned as a requirement of our course related. In preparing this assignment we have acquired much knowledge about compensation. We have tried our best to furnish the assignment with relevant data, which we had to collect from online and related journal. We hope this assignment will help the organization sector to gather some insights on the windows to do further studies in this aspect. We would like to convey our tributes to you and thank you for giving us the opportunity to work on this topic. Your queries in this aspect will highly be expected. Thank you Sincerely yours Faglul Karim Raihan ID: 1001010142 Md.Ahadujjaman ID: 1001010131 ...
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...Compensation: Compensation Package is an organized practice that involves balancing the work-employee relation by providing monetary and non-monetary benefits to employees. Compensation includes payments such as bonuses, profit sharing, overtime pay, recognition rewards and sales commission. Compensation can also include non-monetary perks such as a company-paid car, company-paid housing and stock options. Compensation is an integral part of human resource management which helps in motivating the employees and improving organizational effectiveness. Importance of Compensation Package: The current competitive conditions in the business world make it difficult to acquire and retain the top talents. Once the organization is able to identify, it can be unable to offer the right pay and to manage the pay increases to retain top talents. The compensation strategy is the extremely important piece of the overall HR Strategy to keep the company competitive and successful. On the other hand, the compensation strategy is important to keep the personnel budget under the control and to manage the jobs in the right salary (pay) brackets. The compensation strategy differentiates the organization on the job market and builds the attractiveness of the company for the top talents. They love to be hired by the attractive organization, they do not like to be hired by the average company offering the same conditions as any other average organization in the...
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...Submitted by WWW.ASSIGNMENTPOINT.COM The report titled “Compensation practice and Employee satisfaction in Banking Industry”-An Analysis to identify the influential factors and their Relationship”, is submitted as an partial prerequisite of the BBA program of Stamford University, Bangladesh. The purpose of this internship report is to highlight the overall compensation & employee satisfaction activities of “Exim Bank”, along with the brief description of Exim Bank Limited. Writing this report has been a great pleasure & an interesting experience. It enabled me to know the insight activities of Human resource Department. The research method used for this report was survey. After a good effort I came up with a final questionnaire. This questionnaire was given to the groups of different employees for the research. This project helped me tremendously to understand the implication of my book knowledge in the practical field. It has also shaped some of my basic views like how to communicate & carry oneself in the world of business. I realize that certain information enclosed in this report is confidential & should be confined within academic discourse & interest. I am extremely grateful to you for your valuable guidance, diligent effort & awareness whenever it was required. I tried my best to follow your instruction, schedule, format & discipline obediently & sincerely. To complete this study, I have used structured questionnaire & each...
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...Compensation Pratice: Google Compensation Practice Tiyauna Walden Lezlie Banks Compensation Management February 5, 2013 Abstract Google operates on having competitive pay amongst its competitors. As well as being paying at the highest levels within its markets. With Google making the decision to invest all of this money into its employees a lot of time and research had to be put into the investment. Although, the time and research was thought out there are always pros and cons to the decision. The company can be positively impacted and or negatively impacted. As well, as the employees themselves. Introduction All organizations have a compensation plan, written or unwritten, formal or informal. For some organizations, the purpose of that plan may be merely to meet compliance requirements. For other organizations, the goal of the compensation plan may be to attract qualified employees, to retain those employees, and to motivate employees to direct their efforts towards achieving the goals of the organization. Regardless of the goal, size and complexity of a compensation plan, there are generally many easily-identified elements to any compensation plan. Before an organization actually develops a compensation plan, there are several questions that need to be answered. Taking the time to consider and answer these questions will make the both the process of developing and administering a compensation plan much easier and will result in the development of a compensation...
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...Innovative Compensation Practices One of the determining factors in choosing an employer is the value of their compensation, or benefits packages. There is an increasing need for specialized benefits to meet our society’s changing needs. Our Nation’s increasingly diverse workforce requires more variety in benefit choices to meet the growing demands of their employees. The Basic Compensation Package In the beginning, companies would offer a basic benefit package to its employees. This package was a very fundamental offering that included what was considered attractive to a potential employee. The most important part of this package was a salary with yearly increases based on job performance. This would guarantee that at least once a year, if not more often, the employee would receive a raise in pay for their efforts. Health benefits were the next most important issue for employees. Many had families to provide for, so having health benefits was very important. Most companies used to pay 100% of the insurance premium and include dental benefits and life insurance with the package. Profit sharing and retirement plans (401K) were offered as a way of getting the employee to invest his efforts in the company. If the company made a profit, the employee would profit also. If the employee wanted to contribute to a retirement account, the company would match their contribution as an act of good faith for continued service. If there was a layoff due for any reason, the...
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...NEW TRENDS Today, the compensation practice in the central and Eastern Europe are changing with new job definitions and pay scales being created in response to a global economy. NEW JOB DEFINITION Western job evaluation and grading systems require a participative environment at all levels. In this context, an emphasis is placed on clarifying job responsibilities and activities. Jobholders are heavily involved in the design of jobs and structures. SALARY INCREASE The process of salary increase contrast with the current Human Resources approach to line management versus general employee management, decreasing the percentage difference between salary increases of manager and subordinates. In previous years, salaries of senior management always increased at a much higher rate, in both absolute and relative terms, than wages of administrative and bluecollar workers. ------------------------------------------------------------------------------------------------ Today, the difference in compensation for bluecollar workers and administrative that of their superior can be tenor even twenty fold. It is currently unclear whether this is due to : REJECTION OF COMMUNISM A rejection of the temporary, artificial communist egalitarian system A mimicking of common Western European and US practices Because the diversified investment in new forms of technology and the growth of services industries FOREIGN COMPANIES The foreign companies still offer better salaries; it is not unusual...
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...the primary objectives of the Training Department is to recruit who have good potential and train them to be effective persons in different department. The Training Manager clearly known that Mr. Sharma is a potential trainee but he failed to train him in different department and caused Mr. Sharma only have one choice of department to stay which is the Paint Application Department. The Training Manager have to struggle on his rational decision whether to terminate or not to terminate Mr. Sharma. There are five issues discussed in this report. These five issues are the main causes to the problem 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 persuade the parties involved. HRM issues that cause to the problem Issue 1: Communications...
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...Montana 24.201.502 ACCOUNTING AND AUDITING EXPERIENCE REQUIREMENTS (1) To be issued an initial permit to practice under 37-50-203, MCA, an applicant must provide evidence of acceptable accounting and auditing experience. (2) Accounting and auditing experience will be considered acceptable by the board if satisfactory evidence is presented of having performed accounting and auditing functions ordinarily required in the practice of public accounting, provided this experience: (a) be attested to by a holder of a permit to practice; and (b) takes place in the three years prior to the date of the application for permit to practice; and (c) includes at least 12 calendar months (2000 hours actual work experience) of private, governmental, academic, or public accounting work acceptable to the board. Washington The experience must: * Be obtained through the practice of public accounting and/or employment in industry or government. In certain situations employment in academia may also provide experience to obtain some or all of the competency requirements. It may also be obtained through one or more employers, with or without compensation, and may consist of a combination of full-time and part-time employment. * The employment experience should demonstrate that it occurred in a work environment and included tasks sufficient to have provided an opportunity to obtain the competencies and: * Total a minimum of 12-months (this time period does not need to be consecutive); ...
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...employees, you have been asked to evaluate different compensation strategies that are available for adoption within your organization. Compare and contrast at least three compensation strategies and determine recommendations for how they may be implemented within your organization. Name: Henry Rivera I.D. #: 000318961 Reference Title Finding #1 Godfrey, W. (2013, January). Compensation Strategy for Success. Prezi. Retrieved from http://prezi.com/j9k9_m_2qiwn/compensation-strategies-for-success/ Sager, Suzanne. (2011, September). Merit Pay Most Often Used in Compensation in Public and Academic Librarians. Library Worklife. Retrieved from http://ala-apa.org/newsletter/2011/09/01/merit-pay-most-often-used-in-compensation-for-public-and-academic-librarians/ Ojimba, E. (2004, November 15). Salary Basics – Developing a Strong Compensation Strategy. Salary.com for Business. Retrieved from http://www.salary.com/Small-Business-Advice/advice.asp?part=par410 Finding #2 McGladrey. (2011). Lessons from Recession Increasing Focus on Incentive Compensation Programs. Retrieved from http://mcgladrey.com/Perspective/Lessons-from-recession-increasing-focus-on-incentive-compensation-programs University of Wisconsin – Green Bay. (2013, April 9). Compensation Philosophy. Retrieved from http://www.uwgb.edu/hr/documents/CompPhilosophy0401.pdf Finding #3 Gerhart, B., Milkovich, G.T., & Newman, J.M. (n.d.). Compensation Strategy. Answer, McGraw Hill. Retrieved from http://mhanswers-auth...
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...Report on “How I assess the training & development issues/needs of an Organization?” Prepared by : Supervised by & submitted to: Nazia Tazreen ID 2010010002014 Tazreen Rahman Md. Rasel Bhuyan ID 2011010004081 Course Teacher Abeda Awwal ID 2010110001061 Training & Development Kaniz Fatema ID 2010110001080 Mahajabin Begum ID 2010110001070 Program : MBA (THIS REPORT IS SUBMITTED FOR THE PARTIAL FULFILMENT OF THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION WITH A MAJOR IN HRM) 13 December 2011 Tazreen Rahman Course Teacher (Training & Development) Southeast University Dhaka Campus Subject: Submission of Report Dear Madam, With a pleasure, I would like to submit my internship report entitled “How I assess the training & development issues/needs of an Organization?” in connection of my practical experience in Bestway Group I have tried my level best to expose it’s “training & development issues/needs assessment” through collecting various significant information of Bestway Group. I hope you would kindly accept the report considering my unintentional mistakes in preparing of the report. Thanking You Sincerely Yours, ______________________ Nazia Tazreen & Group MBA Program Southeast University Dhaka Campus. |Content Name | |Page No. | |First Phase: Training & Development Process ...
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...Anasa Sreekanth | 14453 IMBA-General | HRM Anasa Sreekanth | 14453 IMBA-General | HRM NEW MANAGEMENT TRAINEE SCHEME VARIYAS PVT LTD NEW MANAGEMENT TRAINEE SCHEME VARIYAS PVT LTD Goals of Management Trainee Scheme * Knowledge- Managers need knowledge of the financial, industrial and social environments in which their company operates. Knowledge of the products and services provided by their company are other essentials. They should distinguish between the acquisition of information about the company and its environments, and the capability to understand and use the information in relevant ways. * Planning Ability- Planning requires managers to define production or service goals, assess the company's internal and external situations, and structure work to accomplish the plan. The training objectives you prepare should enable you to determine how well management trainees developed their capabilities in and understanding of each of these areas, and how effectively they accomplished the required tasks. * People Relationships- Managers need to improve their skills of relating to people help and ability to direct their employees. Managers' abilities to represent the company with the public, government agencies, investors and vendors. * Leadership Capacity - Effective managers exhibit more directive traits, while others are more collegial. Leadership objective is to enable employees to perform at high levels, drills for providing reluctant employees with the motivation to...
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...Industry Management students will undertake On-the-job Training. Realizing the value of On-the-job training, and what it can do to the individual. The researcher felt that it was necessary to look into what difficulties are being encountered by students on the duration of their internship. CONCEPTUAL FRAMEWORK Colleges and universities require their students to undergo On-the-job Training within a specific number of hours as part of the curriculum. For the students, an OJT or internship program provides opportunities to go through the actual methodologies of a specific job using the real tools, equipment and documents. In effect, the workplace becomes a development venue for a student trainee to learn more about his chosen field and practice what he has learned from school. On the other hand, an effective OJT program also benefits the companies who accept trainees. First OJT or...
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...CPDC The CPDC (Cost per Double Click) designates the amount paid to the affiliate for a click on a link or on an advertiser's graphic element, followed by another click on the advertiser's site. CPM CPM stands for cost per thousand impressions (M is the Roman numeral for a thousand). This means the advertiser pays for every thousand times the advert loads on the publisher’s page. This is how a campaign is normally priced when brand awareness or exposure is the primary goal. The advertiser and the publisher negotiate a fixed amount that the advertiser will pay for every 1,000 times an ad is shown. CPM is a very simple payment scheme, assuming the two parties can agree on a method for counting impressions. There are often stipulations in the agreement, such that the ad can only be shown on certain pages of the publisher’s site, or can only be shown on pages with a limited number of other ads. In a CPM relationship, the publisher is primarily concerned with maintaining a high-quality audience that has well defined interests or characteristics. The advertiser is primarily concerned with creating a message that will be noticed by their target audience, because they pay for the impression whether or not the user actually sees the ad. In general, the more knowledge a publisher has about a particular audience, the higher the CPM that can be charged, because the advertiser is able to more clearly know who their message is being delivered to. One prominent...
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