Closing the Gender Pay Gap Through Compensation Strategies Abstract The purpose of this research assignment is to identify the causes of the gender wage gap and how to combat them using compensation strategies. Currently women make less than men for doing equally comparable work in many industries. In order to design a fair and transparent structure we can follow a pay for performance pay structure. This incorporates values that are important to a companies HR strategy and business strategy
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salaries, pay levels, performance/billable hours, billing rates, performance bonuses, and partner expectations. I expect increased work performance, short-term and long-term reward. 2. With the salary increase of $15,000, new associates are given $15,000 not for performance of work. Fourth year associates work for over a year to receive a pay increase of $15,000. The money should have been distributed throughout the entire pay structure. This makes it unfair to not increase pay of all levels
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CASH COMPENSATION Base wage is a cash compensation that an employer pays for the work performed. It reflects the value of the work or skill and ignores difference attributable to individual employees. Some pay system set base wage as a function of the skill and education an employee possesses. MERIT PAY/ COST OF LIVING Periodic adjustments to base wage may be made on the basis of changes in what other employers are paying for the same work, changes in the overall cost of living or changes in
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that Sam found between the pay of women and men who performed the exact same job in the plant. He found that the women made only about 60% of what the men earned. He also discovered that while all of the office jobs were occupied by women, their pay was almost at the bottom of the pay grade. In the case of the office jobs, it may be difficult to claim discrimination because all of the pay is low and there are not any men in the area to which pay can be compared. The Equal Pay Act of 1963 (DON’T KNOW
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any organization. In the long term, the organizational productivity and performance is influenced by the compensation system, and whether the system is effectively used. An adequate compensation in an organization can turn the unproductive employees and change the productivity in the organization. When the management uses the compensation as the subject of the performance, it facilitates into bringing out the best performance from the contribution of the employees (Brown et al.). The process of compensation
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Employee performance -vs- reward system GM591 Leadership and Organizational Behavior Professor Vicki Boone Chartis Insurance is a world leader in insurance who can trace their roots back 90 years when an American entrepreneur named C.V. Starr founded Chartis. What began as a small insurance business grew to become one of the world’s largest companies. Their fundamental strength lies in the 40,000 employees who service more than 70 million clients around the world. Chartis delivers commercial
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PERFORMANCE GOALS Coca-Cola's new pay plan leaves bad taste April 13, 2006 By Graef Crystal Las Vegas - Things don't always go better with Coke. And they might go even worse for Coca-Cola Company's shareholders if the firm sticks with a new pay plan for its outside directors. In a misguided bid to burnish its pay-for-performance credentials, Coca-Cola's board has just promised its members a chance to earn $175 000 (R1.07 million) a year in free shares if certain targets
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Executive Compensation Fair? Executive pay (also executive compensation), is financial compensation received by an officer of a firm. It is typically a mixture of salary, bonuses, shares of and/or call options on the company stock, benefits, and perquisites, ideally configured to take into account government regulations, tax law, the desires of the organization and the executive, and rewards for performance. Over the past three decades, executive pay has risen dramatically relative to that of
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Performance Appraisal Performance appraisal is concerned with determining how well employees are doing their jobs, communicating that information to employees, agreeing on new objectives and establishing a plan for performance improvement. Performance appraisal, by providing a dynamic link to employee recruitment, selection, training and development, career planning, compensation and benefits, safety and health, and industrial relations, is a vital tool for strategy execution. It signals to managers
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heart of the organization lie the human resources or the labor capital of a company which holds the secret to the success or failure of the organization. It is thus very important to have a well engaged workforce that is constantly enhancing their performance levels by using both their inner and outer potential limits. This will ensure that the organization becomes highly competitive in the market. However, an engaged and committed workforce is only possible when the company has a well designed reward
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