Compensation and Benefits Strategies Anthony Montes, Dima Gammoh, Leah Osmena, Umang Mehta, Zachary Hoferitza HRM/531 05/08/2014 Dr. Victoria Wintering University Of Phoenix MEMORANDUM To: Traci Goldeman From: Anthony Montes, Dima Gammoh, Leah Osmena, Umang Mehta, and Zachary Hoferitza Subject: Compensation and Benefits Strategies for Landslide-Limousines Date: May 08, 2014 Thanks for forwarding Mr. Stonefield phone message to us. We understand Mr. Stonefield likes our recommendation
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COMPENSATION ADMINISTRATION Compensation administration is a segment of management or human resource management focusing on planning, organizing, and controlling the direct and indirect payments employees receive for the work they perform. Compensation includes direct forms such as base, merit, and incentive pay and indirect forms such as vacation pay, deferred payment, and health insurance. Compensation does not refer, however, to other kinds of employee rewards such as recognition ceremonies and
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How Much is Too Much Many Americans today are angry. Displeases because of the painful recession and irate over outsized executive compensation packages at the very Wall Street firms widely blamed for the economic turmoil. Whom, many believe have rigged the game so that top level executives are rewarded handsomely even when they fail. A sharp increase in productivity over several years along with many companies enjoying record profits have only led to executives taking an increasing piece of
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Compensation Plan for InterClean Puerto Rico Victor D. Rodriguez Rivera HRM -531 PR Human Capital Management July 22nd, 2013 Compensation Plan for InterClean Puerto Rico The new compensation package for InterClean Puerto Rico’s branch needs to have the ability to attract and retain quality employees who add to the company’s bottom line and this will basically depend on how attractive the compensation is to get the best possible candidates on the market. The traditional salary plus bonus
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Pay for Performance and Employee Incentive are two compensation systems an organization may choose to adopt in designing a compensation package for their employees whereby monetary rewards are based on measured performance within the control of participants and groups.. Pay-for-performance is by far one of the most popular forms of compensation that employees can offer their workforce, even with its popularity, the question of whether or not it is the best way to compensate remains. The term “pay
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STUDY OF COMPENSATION MANAGEMENT IN HDFC BANK | |TABLE OF CONTENTS |Page no. | | | Acknowledgement |4 | | | Certificate |5 | |1. |Introduction
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According to Noe (2014), a study of 150 companies and organizations revealed that the way a company paid their employees was strongly linked to employee satisfaction and their level of profitability. As mentioned before, incentive pay is monetary compensation beyond the employee’s regular salary. It is often used to energize or direct an employees’ behavior as it is often linked to predetermined behaviors or outcomes (Noe, 2014). Incentive pay can be found as a commission for those in sales, or a
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Compensation in the Workplace 12/10/15 Compensation is a major part of the Human Resources field. It could be a major deciding factor when talking about what attracts and keeps people at a particular business. Compensation is defined as “Compensation is the total amount of the monetary and non-monetary pay provided to an employee by an employer in return for work performed as required. Essentially, it's a combination of your pay, vacation, bonuses, health insurance, and any other perk you
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Case Study: Salary Inequities at Acme Manufacturing When it comes to developing strategic pay plans it is important to have a good understanding of some basic factors to determine pay rates. Employee compensation is “all forms of pay going to employees and arising from their employment” (Dessler, 2013, p. 352). According to Dessler (2013), it consists of both “direct financial payments and indirect financial payments.” As we explore the case study of Acme Manufacturing, we will see the salary inequities
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the direct compensation package of a growing number of organizations. The trend is towards more organizations using variable pay and for these organizations to expand eligibility and to increase the prominence of variable pay in the total direct compensation package. Variable pay is defined as “direct compensation that does not become a permanent part of base pay/salary and which may vary in amount from period to period.” Other names for variable pay include: incentive compensation, incentives
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