...8 Tips for Empowering Employees If it were easy to empower employees, everyone would do it. These 8 tips will help your people step up and happily help grow your company. Having empowered employees is the dream of every leader. All managers want people who show initiative by taking on and completing tasks with little guidance. Of course, the expectation is that these people will perform only in ways consistent with company objectives and values. And there lies the leadership challenge. Often the leadership has not done their part to empower the employees or, worse, has gotten in the way through micro-management. Not all leaders have selfish intentions or poor skills; many simply haven't had the training, time or focus to create an environment of empowerment. Below are eight tips to help make your company a place where people feel good about stepping up and taking it on. 1. Foster Open Communication So many companies are built on top-down communication from management. Employees in this environment feel there is no purpose in taking a stand, since they have no direct channel and don't feel they'll have an impact. As a leader, you may have clear direction and more experience, but that doesn't invalidate feedback and ideas from people on the front lines. Give employees structured ways to make their thoughts, feelings and observations known easily and regularly. Help them understand that their input is valued even if you decide to go a different way. Make sure you acknowledge...
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...There have been recent developments that have opened up with a new approach offering benefits called “flexible benefits”. Some included benefits are flexible spending accounts which include health care and dependent care options. The health care FSA allows employees to use tax free dollars for eligible health care expenses that are not covered by insurance for the employee, their spouse and eligible dependants. The dependent care FSA lets employees use tax free dollars to pay for children and elder care expenses incurred so that employees may work or attend school full time. By offering a flexible spending plan employees can direct a portion of their gross income into an account and take out pre taxed dollars to pay for health care or child care expenses. A flexible spending plan is good for the employer as well as the employee. Flexible spending accounts allow employees to pay for out of pocket health care and dependent day care expenses with tax free money. Flexible benefits plans are also authorized under section 125 of the Internal Revenue Code. Flexible spending accounts are also covered under ERISA Employee Retirement Income Security Act) Employees deposit a set amount out of their paycheck into the account before any taxes are calculated. Throughout the year, employees are reimbursed from the accounts for eligible health care, dependent day care expenses. The contributions employees make to these accounts are deducted...
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...Team B Employee Benefits Policy Business Writing GEB 3213 Fall 2014 Blue Waves Consulting Employment Policy According to Johnny Laurent, the Vice president and general manager for Sage North America “The best way for a company to increase competitiveness is to invest in the employees.” (Sage HRMS, n.d., para 2). Why are some companies succeeding while others are going out of business? What are the extraordinary difference between a struggling company and a successful organization? Perhaps, the question that needs to be asked is what defines the soul of a company? The answer is its people. Individuals are the principal assets of every organization. For most businesses, the workforce is considered largest expenditure in resources. At Blue Waves Consulting LLC, we truly believe that our employees are the most important elements that provide success to the organization. This is the reason why our organization is taking into account of the employee related expenses as solid investments, which can yield a healthy return for the future of the company. We call this investment the Return on Employee Investment (ROEI). This type of investment will assist a company in providing the best possible work environment in attaining the employee and their allegiance to the firm. The utilization of ROIE will bolster the company’s effectiveness, competitive edge, profit and success. The workforce today is confronted with changing economic trends, such as the implementation of the Patient...
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...BANGLADESH LABOUR LAW 2006-(RMG SECTOR) Table of Contents Page No. PART 1: WORKING CONDITIONS ..........................................................................................1 1.1 WAGES...............................................................................................................................4 1.1.1 Definition ................................................................................................................. 4 1.1.2 Persons responsible for the payment of wages ........................................................ 5 1.1.3 Fixation of wage periods and time of payment of wages ......................................... 5 1.1.4 Deductions from the wages ...................................................................................... 6 1.1.5 Grievance procedure in case of illegal deductions or delay in payment ................. 6 1.2 WORKING HOURS AND LEAVES ...............................................................................8 1.2.1 Daily hours............................................................................................................... 8 1.2.2 Interval for rest and meal* ...................................................................................... 8 1.2.3 Weekly hours** ........................................................................................................ 8 1.2.4 Weekly Holiday*** ...............................................................................................
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...that is too easy abused? The FMLA entitles eligible employees to take up to 12 weeks of unpaid, job-protected leave each year for specified family and medical reasons. The FMLA applies to all government workers and private sector employers that employ 50 or more employees within a 75-mile radius (Barth, S. & Hayes, D. K. 2009). Having this particular benefit, allows for employees to take time off in order to care for loved ones. This also guarantees the employee will not lose their job. Besides sick time, having additional benefits such as FMLA can help the employee deal with any family emergency. To be eligible for these benefits, an employee must have worked for an employer for a total of 12 months (not necessarily consecutively) and must have worked for the organization at least 1,250 hours in the past 12 months. These employees are generally guaranteed their current job, or one equal to it, on their return. If, however, an organization can show that it will suffer significant economic damage by having a “key” employee out on FMLA leave, the organization may deny the leave (DeCenzo, D. A. & Robbins, S. P. 2007). There are some guidelines to taking FMLA, and for good reasons. In order to take the FMLA benefit, the...
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...| BENEFITS AND RATES FOR HERITAGE HEALTH FUND MEDICAL AID FUND Effective 1 August 2013 | All Benefits are per Beneficiary | PLATINUM | GOLD | SILVER | BRONZE | BRONZE Lite | ZINC | Global LimitInpatient limitOutpatient limit | 75,000.0052,500.0022,500.00 | 50,000.0035,000.0015,000.00 | 30,000.0021,000.009,000.00 | 15,000.0010,500.004,500.00 | 10,000.007,000.003,000.00 | 8,000.005 600.002 400.00 | Hospital Access | All Pvt HospitalsPres. Suite | All Pvt Hospitals Pvt. ward | All Pvt HospitalsTwo Bed. Ward | All Pvt HospitalsGeneral Ward | Group B,C,D Hospitals Only General Ward | Government & Mission Hospitals, and municipal clinics | Hospitalisation incl. Maternity, Radiology & Pathology | Covered up to limit | Covered up to limit | Covered up to limit | Covered up to limit | Covered up to limit | Covered up to limit | Chronic Drugs incl. ARVs | 1,500.00 | 1000.00 | 800.00 | 500.00 | 300.00 | 200.00 | Acute Drugs | 600.00 | 500.00 | 400.00 | 300.00 | 200.00 | 150.00 | Chronic Nursing | 3,000.00 | 2,000.00 | 1,200.00 | 1,000.00 | 800.00 | 500.00 | Dental incl. dentures | 2,000.00 | 1,500.00 | 1,000.00 | 800.00 | 450.00 | 300.00 | Orthodontic | 1,500.00 | 800.00 | 500.00 | 300.00 | 200.00 | 150.00 | Optical (once in two years) | 700.00 | 550.00 | 400.00 | 250.00 | 200.00 | 15000 | Prosthesis | 4,500.00 | 3,500.00 | 2,000.00 | 1,500.00 | 800.00 | 400.00...
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...Segmentation For marketing purposes, the product V8 V-fusion®+ Energy can be divided into many segments based on the possible customers who would benefit. These segments can be defined using geodemographic and psychographic segmentation methods. Each of the three most relevant segments are described in the following text. The first segment involves women between the ages of 25-30. These women are single, very active and looking to settle down. They are very health-conscious and tend to spend a great deal of time working on their image. The women of this segment typically have a household income of $45,000 to $65,000 and cherish the value of a good bargain whenever they see one. They prefer to purchase items that will benefit their female identity but will spend a great deal of time looking for the most cost-efficient products. Being that these women maintain such busy lifestyles, this product would be great for them as they are “on the go”. The homes of these women also possess many features that are modern and convenient such as Keurig machines, so this product would fit in quite well with their other kitchen products. The women of this particular segment work in an atmosphere that constantly keeps them active. Their benefit from this drink not only includes a simple packaging but the drink itself contains ingredients for a boost in energy, which may appeal to the market substantially. These women value the latest trends in healthy meal choices, especially those that...
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...Is the Difference in Accounting Treatment of Post-Retirement Benefits under IFRS Beneficial or Detrimental to the Financial Position of a Company Currently Reporting Under US GAAP? Megan N. Cook, CPA, CFE Accountancy 521 Professor Lawrence March 9, 2009 The first pension plan offered by an American employer was that of American Express in the year 1875. Amex’s plan did not resemble the plans that we see in today’s time; the first “modern” defined benefit plan was created in 1940 by the automotive behemoth General Motors. These plans of the past still do not resemble plans that we are familiar with today. In the past, employers could exercise a “pension put” option and, in essence, close the plan down at the current level of funding and turn the assets over to the retirees. This is not an optimal situation, as many plans at the time were severely under funded and retirees would be left with pennies on the dollar of what they were counting on for retirement. (Fortune, 2005) Post-retirement benefits are volatile on a couple of different fronts; up until the reforms in 1974 which created ERISA and the PBGC, employees had to put blind faith in their employers to secure their futures after their working years were over. (Fortune, 2005) On another front, these benefits pose a significant accounting problem – how should a company account for the costs and liabilities associated with these benefits they had to give their employees at a later and relatively indeterminable...
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...After watching the tutorials at the end of our lecture, I have found that there are more types of power then I thought of previously. Some of these seem to be effective, while others seem to be less effective. The ones that I find to be the most effective are Referent and Expert powers, I think it is much benefit in a hardworking approach to power, such as with the referent form of power. You can ensure that things get done in an easy and fair manner. Also with the expert form of power, you ensure that you are also on top of the situation, regardless of the surrounding factors, such as people or other stresses. I would like to believe that I have these types of power, but more commonly in my job, I use legitimate power. In most of the time at work I have to be the one to tell all my fellow employees what to do and how to meet our boss demands, therefore meeting our deadline of work is the most important part. Overall I am seen as the authoritative type of management but my boss is more uses of the coercive form of power, which I think is probably the least effective type. It almost makes me want to perform at a lower level when being treated in that way. When he does use this form of power, there are times where I do use some expert power by not responding in a negative way to his coercive attitude. Being aware of these types of power can able to help me identify which types of method I should use when I am the regarding situations, and it also helps me with my leadership skills...
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...ratio. Compensation Methods “Compensation is a systematic approach to providing monetary value to employees in exchange for work performed. Compensation may achieve several purposes assisting in recruitment, job performance, and job satisfaction.” (HR Guide to the Internet) In this type of economy, many businesses will start to freeze wages and stop giving their employees any type of compensation. However, this may hurt the employee morale. By giving out a reward for an excellent job performance at times, a company could see a bigger profit in this rough economy. There are a few different types of compensation methods. These methods include but are not limited to the following: • Commission • Overtime • Bonus • Expense Allowances Commission can be given to employees if they sell a certain number of items or a certain amount of profit that an employee brings in. Overtime is different at all companies and can be a very big benefit to those who are not on salary pay. Bonuses can be awarded if a certain goal has been met by a particular employee. Finally, expense allowances can be given to those who may have to...
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...1. Define the three different types of Piece Rates. Answer: 1) Straight Piece rate 2) Piece rates with guaranteed time rates and 3) Differential Piece rates Straight Piece rate In this method payment is made on the basis of affixed amount per fixed units produced without regard to the time taken Earnings = Number of units x rate per unit. Piece rates with guaranteed time rates In this system the payment is at the time rates but adjusted to the cost of living. Merit awards for personal qualities, skill, ability, punctuality etc. are also considered. The employer compensates the high labor cost by increasing the price of the products. Differential Piece rates A wage plan based on a standard task time whereby the worker receives increased or decreased piece rates as his or her production varies from that expected for the standard time. Also known as accelerating incentive. 2. Define Sales Commission, and explain the conditions that should exist/be met within a position for this pay-for-performance methodology to be successful. Answer: The amount of money that an individual receives based on the level of sales he or she has obtained. The sales person is provided a certain amount of money in addition to his/her standard salary based on the amount of sales obtained. Conditions that should exist: 1. Organizations must tailor pay for performance systems to their mission and environment 2. A pay for performance system can only be effective if employees...
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...Week Three Team Reflection HRM 531 Week Three Team Reflection Employee benefits and compensation are essential to a successful business. A company’s ability to thrive is often due in large part to the workers it employs. Because of this, it is important that the compensation and benefits the employer offers to the employees are competitive and comprehensive. Week three objectives include explaining how to create these benefit packages, determining the appropriate components of the employee compensation and benefits, and using organizational and market data to conduct human capital management functions. The learning team will explain the topics of struggle for the team, the topics of comfort for the team, and explain how these objectives relate to his or her area of work. Topics of Struggle One common area of challenge for members of the team during week three involves the objective relating to human capital management functions and how to use organizational and market research. Several team members indicate that this topic, which includes the two main fields of human capital management, is more difficult to comprehend. However, the team recognizes decisions on composing a benefits and salary package involves the two fields. The determination of benefits and compensation weigh heavy on this function and making sure that an organization is competitive within the market industry that they are in. If the company is using internal or organizational data, the company...
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...Answer Key for Budget Matrix, Due in Week Six Budget items Functional budget to determine personnel costs per member enrolled Line-item budget to determine total non-salary costs Total program budget Executive director salary x x Training supervisor salary x x Trainers salary x x Employee benefits x x Equipment x x Supplies x x Facility rent x x Travel x x Utilities x x Depreciation of equipment x x Transportation x x Outside consultants x x Indirect costs x Answer Key for Creating a Budget, Due in Week Six 1. A line-item budget table showing all associated costs implementing the training programs. Local government workforce agency—Line-item budget Revenue $1,600,000 Expenses Personnel Executive director $100,000 Training supervisor $80,000 Trainers $500,000 Administrative coordinator $45,000 Administrative staff $75,000 Total salaries and wages $800,000 Employee-related benefit expenses @ 25% $200,000 Operating expenses Rent $125,000 Overhead costs $100,000 Utilities $100,000 Office supplies $25,000 Equipment/lease $50,000 Transportation and travel $100,000 Outside consultants $100,000 Total operating expenses $600,000 Total agency budget $1,600,000 2. Develop a functional budget to calculate personnel costs per patient visit. Local government workforce agency—functional and program budget ...
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...Describe the importance of employee benefits as a strategic component of fulfilling the goals of HRM. Though many benefits are not legally required, it is vital for companies to keep up with competition and retain employees. HRM, must act as the driving force behind in building willingness in employees, employee retention and by attracting potential candidates. Using benefits as a strategic component helps enhance the effectiveness, morale, productivity and achievement of goals. The internet helps enable employees to research companies before taking a job. Companies can lose employees to competition as a result of not providing desired benefits and may not look good for business in the long run. In addition to reducing turnover rate companies need to set a best industry safety record. HRM needs to understand what motivates the market of targeted employees. Most are not motivated by just a paycheck, but the perquisites like tuition reimbursement, child care and sponsored family events. (Wiley) Using benefits as a strategic component not only builds motivation, but also helps build stronger relationships between management and employees and the clients. Eventually clients will somehow pick up on these relationships in an event they would have a tour of the company, through word-of mouth and eventually, blogs on the internet. http://www2.enap.gov.br/mesa_redonda/downloads/daley_vasu.mpsa02_PPM.pdf 2. Explain how Genentech and Zappos are using employee benefits as a motivating...
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...We are pleased to announce the opportunity to participate in a new job employee benefit that will not only benefit employees but the community. The office to which each employee belongs to has collected a list of organizations that are looking for volunteers. The list given is not the only means of volunteer work, but other options that are already in progress or a personal idea is optional as well. It is understandable that many already participate in community service, but this is an opportunity to be paid while doing so. As you all are well aware of, strengthening community is what we strive for and our greatest cause. That being said, everyone will not be able or will not want to participate. Further details are below: Non-participants People who choose not to participate will work and be paid for the same number of hours as before. Benefits Group participants will be featured in company publications. Absences (Volunteer or Compensation Work) Be sure to clear ANY planned absences with supervisors during regular business hours. Participants * Employee can spend 1 hour working with a charitable on nonprofit group for every 40 they work. Employees will be paid for this work, so their salaries will not fall. * Supervisors are responsible for ensuring that essential business services are covered during business hours. Hours of Volunteer Work * 1 hour per week * 2 hours every other week * Half- day each month *Volunteer hours cannot...
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