Construct a comprehensive research paper on the Compensation and Benefit Systems
ID: 2748231 • Letter: C
Question
Construct a comprehensive research paper on the Compensation and Benefit Systems implemented at a major United States Company. The paper will follow MLA guidelines, be in Word format, at least 4-5 pages of discussion in length, double-spaced, and it should also include a cover page, and a Works Cited sheet with at least 5 sources. There should also be AT LEAST 5 parenthetical internal citations within the text of your paper (this means you must have quotes, statistics, etc… backed up with a source from the Works Cited sheet). In citing Internet sources (i.e. executiveplanet.com), even if you use several articles from one website, the website itself is an individual source (This is similar to using several articles from one individual newspaper). So make sure you use a variety of sources, not just one source. Concentrate the paper on the Compensation and Benefit Systems implemented at a major company in the United States. the company I have to do is Johnson & Johnson this is for strategic compensation class
Explanation / Answer
Johnson & Johnson
Benefits:
Health care and welfare
Employees who feel good have better job performance and better professional development. Promoting health and well-being of their employees is a deeply rooted belief in the values of their Creed.
Companies of Johnson & Johnson offer support programs and practical resources to help employees live a healthier and safer life, at home, at work and on the road. By promoting an environment in which the employee, their family and their professional development can flourish, they enable a collaborative culture, a culture that helps each of the members to commit more fully and promote processes and innovations that come to their patients and customers around the world.
As a leading provider in the world in terms of products and services for health care, they are very proud of the healthy culture that we have created. This culture permanently fosters an environment of healthy options and provides an innovative and healthy future.
Their global health programs are appropriate to the place, culture and specific health needs. Each of these programs allows employees to access a full complement of support programs
PROFESSIONAL DEVELOPMENT
The breadth of their businesses, their collaborative culture and our strategic focus on people and values make Family of Companies Johnson & Johnson an exceptional place for professional development.
LEADERSHIP IMPERATIVES their Leadership Imperatives define expectations and remind leaders that they must connect perceptions, anticipate and define the changes, guide and develop the talents and produce results. Through a clear definition of objectives, the continued acceptance of different opinions, development planning and performance-based compensation, they achieved their staff channel their passions by offering their best talent every day.
GLOBAL LEARNING employees have the support of their frame structured learning leadership, which includes a curriculum with a common core subject that provides access to systemized training resources for the development of joint leadership. This framework allows a uniform globally of what it means to be a leader and clarifies expectations derived from that responsibility understanding. It helps all employees to see how their individual efforts are adapted to the overall objectives of the company. Inspires based on the Creed and defined from the leadership Imperatives leadership. Professional Development: As a global company, they provide the resources to help employees develop skills and to be recognized for the value it brings to the job. At the same time, they hope that employees provide the impetus and vision for their own development and career advancement. The powerful result is a unique opportunity to have a personal impact in their career within the business.
Retirement Savings Plan Johnson & Johnson Number 200:
Basic Financial Statement: Benefits under the Plan are provided through a Trust. Plan expenses were $ 17,348,248. These expenses included $ 16,754,184 in payments to participants and beneficiaries and $ 594.064 in administrative expenses. A total of 4,315 people participated or were beneficiaries of the Plan at the end of the plan year. The value of Plan assets, after subtracting the duties of the Plan was $ 211,870,533 as of December 31, 2011 compared to $ 198,676,139 for January 1, 2011. During the Year of the Plan, the Plan experienced an increase in its assets net of $ 13,194,394. This includes the assessment of value in the assets of the Plan, ie the difference between the value of the plan assets at the end of the year and the value of assets at the beginning of the year, or the cost of assets acquired during the year . The Plan earned $ 30,542,642 including contributions from the Company of $ 5,641,608, contributions from participants of $ 14,671,253 and a net appreciation of its assets in the amount of $ 10,229,781
GROUP ACCIDENT INSURANCE PLAN 503.
Basic Financial Statement: Benefits under the Plan are provided through a Trust Account with Bank of America and an insurance contract with Prudential Insurance Company of America. Plan expenses were $ 1,997,462. These expenses included $ 7.992 in administrative costs and $ 1,989,470 in insurance premiums. A total of 35.809 people participated or were beneficiaries of the Plan at the end of the plan year. The value of Plan assets, after subtracting liabilities of the Plan was $ 2,469,059 as of December 31, 2011 compared to $ 2,472,992 at January 1, 2011. During the year of the Plan, the Plan experienced a diminution in their assets of $ 3.933. The Plan had total income of $ 1,993,529 including contributions from participants for $ 1,954,619, the contributions of the Company for $ 34.851, and investment earnings by $ 4.059. 2011 Puerto Rico SAR (Spanish) December 2012 3 Information on Insurance Plan has a contract with Prudential Insurance Company of America, to pay all claims for Accidental Death and Dismemberment and Disability Total and Permanent incurred under the terms of the Plan. The total premiums paid during the Plan year ended December 31, 2011 under contracts of experience unclassifiable ( "no experience rated") was $2,365,603.