...of $53 billion which is a 17% loss in the last fiscal year. As JVA HR Director, my team of consultants has reviewed the cost of all additional compensation programs that is offered by the company that exceeds the current base salaries for all employees. These current packages in question includes commission, bonus, profit sharing and travel rewards to determine which amenities that need to be restructured or eliminate in order to cut cost of spending. As the HR director, I propose to make any necessary changes to the guidelines for the performance management within JVA Corp. I will first review the mission and goals for JVA Corp and how it applies to the requirements to each employee. I will also determine rather the compensation packages are also necessary, evaluate commission packages, expenses covered, perks, and the necessity of onsite amenities that are currently covered. Based on the current calculation of 150,000 employees within the United States, JVA Corp is currently spending 8% of its revenue for additional compensations or (perks). This current calculation is not counting our international locations. Within the 150,000 employees, approximately 35% are eligible for all of those additional perks, while the rest are offered base salary, with no option for additional compensation. These additional compensations accounts for billions of...
Words: 639 - Pages: 3
...higher wages than those that save our lives and teach us such as medical doctors and teachers. Professional athletes do not offer society an essential function that improves or enhances our world in comparison to other professionals. It is my claim that professional baseball players are paid more than they are worth. Economics is the key to understanding why these athletes earn such tremendous salaries; still, it fails to explain why they actually do deserve it. Giving athlete’s high wages doesn’t only distort them, but also bring downfall to clubs and the country’s economy. The growth and the development of a sport may be reflected from the wages of the athletes and that is all it does. In conclusion, Team owners pay more to keep athletes on the team to be on a winning streak, but whether the drive to win is justifiable remains in doubt. The economic system involving sports, corporate America, and the media is an interdependent one. Athletes make huge sums of money paid to them by owners who make even larger sums of money. Agents, free agency, and other phenomena keep athlete salaries rising. So, too, does increased ticket sales to games, increased TV viewership, enormous media contracts, TV advertising, and corporate sponsorship and endorsement deals. The economic rewards in the sports industry are so enormous that corporate America, the media, and sports franchises are driven to earn a larger slice of the profit pie. Mergers and acquisitions, alliances, cross-promotion, enormous...
Words: 436 - Pages: 2
...Do you find the widening difference between the salaries of corporate executives and regular workers to be just or unjust? This continuing widening is unjust because more money is going towards the CEOs who may or may not deserve it. Let's go more into the present and look at how many immigrant workers have came to the US since the 80s. Low skilled workers are so much easier to find and pay less than the "average American worker" (as shown by skew income data). I feel this way because "CEO pay has no correlation with either performance or market capitalization" (Obermatt). The gap continues to increase although education or performance does not play part in the growing wages which makes absolutely no sense to me but I'm not the one appointed to put them in the top 25% of the salary range. In 1980, a CEO made 35 times as much as a worker. This increased by 185 times in 2009, although the company may not have been this hugely successful. Our corporations today can easily lay off workers and cut back salaries because workers in china would accept half as much pay as a worker here, for example, the effect being the lack of jobs and more money aimed towards CEOs. The gap should not be getting bigger this rapidly because there isn't as much money to fund the CEOs salaries, but there still is this "excess pay"(Obermatt). Just because there have been income gains in lower areas doesn't mean the gap should continue to grow between these areas and CEOs. Findings show consumption inequality...
Words: 358 - Pages: 2
...TDS RATES & LIMITS CHART (A.Y. 2013-14) S.N. | Section Of Act | Nature of Payment in brief | Cut Off Amount | Rate % | | | | 01.04.12 | 01.07.12 | HUF/IND | Others | 1 | 192 | Salaries | Salary income must be more then exemption limit after deductions. | Average Rate | 2 | 193 | Interest on debentures | 2,500 | 5,000 | 10 | 10 | 3 | 194 | Deemed dividend | - | - | 10 | 10 | 4 | 194A | Interest other than Int. on securities (by Bank) | 10,000 | 10,000 | 10 | 10 | 4A | 194A | Interest other than Int. on securities (By others) | 5,000 | 5,000 | 10 | 10 | 5 | 194B | Lottery / Cross Word Puzzle | 10,000 | 10,000 | 30 | 30 | 6 | 194BB | Winnings from Horse Race | 5,000 | 5,000 | 30 | 30 | 7 | 194C(1) | Contracts | 30,000 | 30,000 | 1 | 2 | 8 | 194C(2) | Sub-contracts/ Advertisements | 30,000 | 30,000 | 1 | 2 | 9 | 194D | Insurance Commission | 20,000 | 20,000 | 10 | 10 | 10 | 194EE | Payments out of deposits under NSS | 2,500 | 2,500 | 20 | - | 11 | 194F | Repurchase of units by MF/UTI | 1,000 | 1,000 | 20 | 20 | 12 | 194G | Commission on sale of lottery tickets | 1,000 | 1,000 | 10 | 10 | 13 | 194H | Commission or Brokerage | 5,000 | 5,000 | 10 | 10 | 14 | 194I | Rent (Land & building) | 1,80,000 | 1,80,000 | 10 | 10 | | | Rent (P & M , Equipment, furniture & fittings) | 1,80,000 | 1,80,000 | 2 | 2 | 15 | 194J | Professional/Technical charges/Royalty & Non-compete fees | 30,000 | 30,000 | 10 | 10 | 16 | 194J(1)(ba) ...
Words: 635 - Pages: 3
...135 000 | | 600 | 600+600+100 | 134 300 | | 1,1,1,1 | | Depreciation expense | 3 800 | | 550 | | 4 350 | | ½,1 | 5500*.2*6/12 | Drawings | 18 000 | | 100 | | 18 100 | | ½,1 | 150*2/3 | Interest expense | 8 250 | | 1 500 | 3 750 | 6 000 | | ½,1,1 | 50000x.12 | Inventory (31/12/2010) | 38 800 | | | | 38 800 | | | | Land & buildings, at cost | 84 300 | | | | 84 300 | | | | 12% Loan from Loan Anonymous | | 50 000 | | | | 50 000 | | | Office equipment | 20 000 | | 5 500 | | 25 500 | | ½ | | Prepaid interest (01/01/2010) | 1 500 | | 3 750 | 1 500 | 3 750 | | ½,½ | | Rent revenue | | 15 400 | 1 700 | 7 900 | | 21600 | ½,1,1 | 900x12x2 | Salaries and wages expense | 23 950 | | 2016 | | 25 966 | | ½,1 | 201600*.01 | Sales | | 202 500 | 900 | | | 201 600 | ½ | | Trade Payables | | 40 400 | | | | 40 400 | | | Trade Receivables | 52 600 | | | 900+400 | 51 300 | | ½,½ | | | 424 700 | 424 700 | | | | | | | Donation Expense | | | 600 | |...
Words: 925 - Pages: 4
...CEO Compensation Thoughts on the current state of executive compensation practices in the US: Current state of Executive compensation within the US differs from different compensation practices within the forms it takes, laws and regulation it's subject to, its dramatic rise over the past 3 decades and wide go criticism leveled against it. Within the past 3 decades in America government compensation or pay has up dramatically on the far side what is often explained by changes in firm size, performance, and trade classification. It’s the very best within the world in each absolute term and relative to median earnings within the America. It has been criticized not solely as excessive, however conjointly for "rewarding failure" as well as large drops available value. Observers dissent on what proportion of the increase in and nature of this compensation may be a natural result of competition for scarce business talent benefiting investor price, and the way abundant is that the work of manipulation and self-dealing by management unrelated to produce, demand, or reward for performance. While our government compensation attorneys perceive the elaborate, technical aspects of government compensation legal problems and governing laws, they tend to conjointly perceive market practices and trends. They tend to facilitate our purchasers establish and perceive the key legal risks in a very industrial context so they will build familiar business selections. They tend to closely monitor key...
Words: 735 - Pages: 3
...which employee performance is retrieved and criticism and/or remedial action plans are put into place in order to help make the employees work more effectively. (Youssef, 2012) There are many effective appraisal processes that help to evaluate and motivate a company’s most valuable assets (employees), and when used consistently a company or organization flourishes while retaining their best talented and skilled assets. Although the main reason for performance appraisals is to evaluate work performance, it is also important because it represents the effectiveness and goals that the organization has set and want to achieve through their employees. Organizations use performance appraisal for many other purposes as well such as; managing salaries and wages, providing communication points of strength and weaknesses, to determine job placement decisions, and also to justify disciplinary actions such as termination of an employee due to poor continued work performance. (Youssef, 2012) Without performance appraisals the everyday job that one does starts to become stagnant and monotonous and the employee has no sense of accomplishment. They also lose interest in increasing effectiveness if no one seems to care whether you’re doing a good job or are in need of areas of improvement. Keeping employees motivated and rewarded with incentive is key to a low turnover rate along with establishing a core of loyal and productive employees. The motivational role of incentives is to attract candidates...
Words: 770 - Pages: 4
...COMPENSATION AND OTHER EMPLOYEE RETENTION STATEGIES Abstract There are three human elements that are important to any organizations success - good leadership at the top, effective management at all levels, and personnel who possess the knowledge and skills to get the job done. Retaining effective employees is a challenge, and replacing employees who leave an organization is extremely expensive. Roger E. Herman’s book Keeping Good People – Strategies for Solving the Dilemma of the Decade discusses five strategies that an organization can implement, and which will aid in retaining top talent. This paper discusses those five strategies. Compensation strategies are those which ensure top talent can be recruited, and retained due to competitive compensation from an organization. Environmental strategies involve efforts that address 1) ethics and values, 2) organizational policies that interpret values and translate them into action, and 3) the physical environment that a company’s employees occupy. Relationship strategies are the actions of how an organization treats its people, as well as how they treat each other. Support strategies are those that equip employees with the resources that they require to complete the job. People growing strategies are actions that organizations can practice that contribute to the professional and personal development of their employees. For most organizations to be successful there are three human elements which are crucial...
Words: 2886 - Pages: 12
...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 ...
Words: 812 - Pages: 4
...Cornell University ILR School DigitalCommons@ILR CAHRS Working Paper Series Center for Advanced Human Resource Studies (CAHRS) 5-1-1995 Employee Compensation: Theory, Practice, and Evidence Barry A. Gerhart Cornell University Harvey B. Minkoff TRW Corporation Ray N. Olsen TRW Corporation Follow this and additional works at: http://digitalcommons.ilr.cornell.edu/cahrswp Part of the Human Resources Management Commons This Article is brought to you for free and open access by the Center for Advanced Human Resource Studies (CAHRS) at DigitalCommons@ILR. It has been accepted for inclusion in CAHRS Working Paper Series by an authorized administrator of DigitalCommons@ILR. For more information, please contact jdd10@cornell.edu. Employee Compensation: Theory, Practice, and Evidence Abstract [Excerpt] As organizations continue to face mounting competitive pressures, they seek to do more with less and do it with better quality. As goals for sales volume, profits, innovation, and quality are raised, employment growth is often tightly controlled and in many cases, substantial cuts in employment have been made. To accomplish more with fewer employees calls for effective management of human resources. Typically, the employee compensation system, the focus of this chapter, plays a major role in efforts to manage human resources better. Keywords employee, compensation, organization, profit, human, resource, manage, pay, market Disciplines Human Resources...
Words: 11397 - Pages: 46
...CS121-PROGRAMMING I-FINAL PROJECT Sequential Control Structures Problem 1. Compute the weekly salary, both gross and net for an employee who works hrs hours a week with an hourly rate of rate pesos (assume no overtime). Deductions are sss percent for social security system and 5% for health insurance. Output gross, sss deduction, health insurance deduction, total deductions, and net weekly salary. 2. Find the total cost of four tires if the price list of each is price pesos, VAT is not included which is 10% per tire. Output the total amount of value added tax and the cost of four tires before and after the imposed tax. 3. Determine the yearly income and savings of a person whose weekly income and average monthly expenses are entered. 4. A baseball player is to be paid P pesos for the first year of a 3-year contract. Find the total peso value of the contract over 3 years if the contract calls for an increase of /percent during the second year an J percent of the third year. 5. Workers at a particular company have won an 8.50% pay increase. Moreover, the increase is retroactive for six months. Write a program and flowchart that takes an employee’s previous annual salary as input and then outputs the amount of retroactive pay due the employee, the new annual salary an the new monthly salary. 6. For any 3 numbers, A,B,C. Determine the sums A+B,A+C, and B+C and find the average of these sums. 7. A businesswoman will be unable to pay his loan of P pesos...
Words: 1757 - Pages: 8
...Directions: Read the Your Turn Assignment, answer all of the questions unless otherwise noted by the professor. Delete or add question heading as needed below. Save file in MS Word format, upload to appropriate assignment dropbox by the due date. Question #1: What policy regarding external competitiveness would you advise? List the options and the pros and cons of each policy option. Offer the rationale for your recommendation. Consider using information in Exhibits 7.3, Exhibit 7.4, and Exhibit 7.14 in making your recommendations. In order to effectively obtain and retain the most competent and highly skilled marketing manager for this particular startup company a substantial monetary return in relation to both base pay and total compensation will need to be implemented. This compensation structure will need to be at least 25 percent above market price based upon external competitiveness to, in turn, ensure that this particular individual is both drawn to the company as well as being highly motivated extrinsically while engaged in his/her duties. Within this particular scenario the pay policy that would be most effective and efficient is the pay-with-competition-policy. This policy strives to ensure that an organizations wage costs are generally equal to those in relation of its overall competitors within its target market as well as having the ability to entice applicants that will be generally equal to its initial labor market competitors. These are all very...
Words: 1890 - Pages: 8
...Thereafter, overhead cost is applied to jobs by multiplying the predetermined overhead rate by the actual amount of the allocation base that is recorded for each job. 3-5 A sales order is issued after an agreement has been reached with a customer on quantities, prices, and shipment dates for goods. The sales order forms the basis for the production order. The production order specifies what is to be produced and forms the basis for the job cost sheet. The job cost sheet, in turn, is used to summarize the various production costs incurred to complete the job. These costs are entered on the job cost sheet from materials requisition forms, direct labor time tickets, and by applying overhead. 3-6 Some production costs such as a factory manager’s salary cannot be traced to a particular product or...
Words: 11544 - Pages: 47
...times increase in tickets almost all the employees did not have a raise in their salary. The zoo is one of the places low-income families can spend a fun day at. However, for most of the employees working there, the Giza zoo is a harsh working environment where they do not get paid enough and receive no benefits. The Giza Zoo was once the most beautiful zoological gardens in Egypt; the Ministry of Agriculture in Egypt runs it. Over the past decade its status has been deteriorating more and more. After the 25th of January movement in Egypt, many workers in the public sectors have been striking all over Egypt; among them were workers in the Giza zoo. Workers in the zoo have been living in inequality for as long as they can remember, they work over hours, six-days-a-week, many of them even sleep over in the zoo gardens because they cannot afford public transportation. Working conditions and Salaries: As you enter the zoo, you realize that by every cage there is a man standing by it wearing a green overall with stains and holes all over it. Abdel Haleem Gomaa is one of them gatekeepers. Gomaa has been working as a gatekeeper for 28 years in the zoo. Unlike many is Gomaa is a satisfied worker, he works six days a week; he has six children and his salary amounts to 480 EGP. Gomaa has been working with many animals over the years; he also started working with a salary of 150 EGP in the beginning. Later, the zoo administration promised to write him...
Words: 990 - Pages: 4
...1. The agency in control of this regulation is the Department of Education. The reason that I chose this regulation is because I plan on being a Teacher in an elementary school and will affect me by this regulation, especially when I will start my career. As of now, this ruling doesn’t affect me. However, as soon as I am employed in the teaching field, I have to make sure that I can fulfill the requirement to be a good teacher and get all kind of compensation including salary like Teacher Intensive fund. 2. The regulation I chose, RIN 1810–AB12, the Assistant Secretary for Elementary and Secondary Education proposes priorities, requirements, definitions, and selection criteria under the Teacher Incentive Fund program. They may use this competition in fiscal year 2012. TIF-funded performance-based compensation systems (PBCSs) will be successful and sustained mechanisms that contribute to continual improvement of instruction, to increases in teacher and principal effectiveness and ultimately, to improvements in student achievement in high-need school. TIF grantees use high-quality LEA-wide evaluation and support systems that identify effective educators in instruction by informing performance based order to improve compensation and other key human capital decisions. The purpose of the TIF program is to provide financial support to develop and implement substantial PBCS for teachers, principals in order to increase educator effectiveness and student achievement. ...
Words: 459 - Pages: 2
