Construct a comprehensive research paper on the Compensation and Benefit Systems
ID: 450488 • 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.
Explanation / Answer
The company selcted for this research paper is Holland enterprises.
Introduction
This research paper includes the comparative analysis of the upcoming procedures and values of employee’s benefits and moral ethics. It also shows up the overall impact of the organization impact on approach of managerial function and polices which are unable to attain the management function. It also shows up the compensation and benefit philosophy which helps the human resource personnel to ascertain the true problem of the organization.
Holland Enterprises which is the biggest firm which have 3500 employees. Although since 2007, they are losing their staff and employees which are hampering their working environment and policies as and when the days are passing. There are certain valid organization reason which hampers the overall impact of the company well force and policies (Chingos, 2002).
Effectiveness between Compensation and Benefit system
Compensation and benefits can overall be compromises as the employer’s choice and policy which helps the management and worker to attain the overall impact of the workers. Works looks for the compensation and benefits that helps in considering the overall security, stability and working environment of the company.
Compensation: It can be termed as the income earned by performing the work implied by the organization. The overall compensation is required in order to attain the overall holistic view of the business enterprises which helps in ascertaining the overall view of the business and measurements.
Benefits: It can be termed as the benefits and non benefits that give the overall view of the compensation benefits requires by the managerial function. Certain termed and a guideline which helps in implying the overall approach of the business gives the clear instruction of the enterprise.
Voluntary Benefits: It can be classified as the controller and cost making aspect of business enterprise that helps in making the employers off the ground and managerial function in order to prevail the over holistic view of the operation and business unit and policies.
Paid Time Off: It includes the personal, sick and vacation day that companies offer to their employee in order to keep them motivated and energetic to ascertain the valuable relationship between them
Legalities: It can be classified as the overall holistic view of the companies guide lines and policies for legal compensation and benefits. The voluntary benefits are termed within the requirement as and when it is required within polices objective and implementation that helps in building up the participation of employee’s benefits and guidelines. The qualified company attains the maximum overall objective that helps in making the overall objective of the company work force and policies.
Certain components of compensation and benefits system
Compensation system: The design process is identified and created with the organizational output and goals with the organization system and process. It is easily be denotes as the philosophy of the compensation management. Compensation system is measured on certain principle and value that gives the overall impact of the managerial function and objective. It is classifieds the direct and indirect impact of the company’s well force and policies that gives the essential information of the system.
In system word, the compensation can be denoted as the rewards earned by the employee in term of their labor charges and policies which helps in making the overall view of the business enterprises. In order to determining the overall view of the compensation management by the human resource, the making of effective rewards with the help of uniqueness and policies that gives the managerial function of the company. The needs of individual are ascertain the managerial function that allows the overall impact of the company well force and human resource.
Recommendation: It is clear for the perspective that the managerial function helps the overall impact of the company that gives the certain implication of the business enterprise. The use of managerial function that helps in building up the overall view of the business enterprise helps the managerial function to keep the compensation system smoothly and effectively.
Arguments on the increase of compensation and benefits are as follows:
There is also a heated argument on how the things should be implied in order to attain the maximum overall object without any personal and professional objective. Individual tries to attain the things which do not fall under heir things that make them de motivated and overall implication of the business enterprise. Every employee tries to attain the maximum overall impact of the business enterprise that helps in building up the impact of business enterprise. There are certain rules and regulation that helps in making the impact which goes wrong and round the clock without nay managerial function and policies (McFadden, 2001).
Organization welcomes the new comers and new workers that give the management objective of the business enterprise that helps in making the impact that goes down without any professional objectivity and business aspect. In today’s time where things are carried out with certain objectivity, certain things are meant to work within the specific tenure within the stipulate time duration. It gives the inter relationship between the performance and leadership as and when the culture creates the impact on the overall holistic view of the business enterprise without any preference. The impact of compensation is hard to analysis as it depends from person to person which hampers the overall view of the management enterprise.
Compensation and Benefits Philosophy: Compensation Benefits includes several vital components that help in making the managerial function effective and efficient. Some of the mare classified as follows: Percentile Based Approach: This approach is determined and on the basis of managerial function, the demand for the wages is determined on the basis of market situation and policies. Specific Numbers: This approach his used as and when the wages are termed within the exact numbers of the business enterprise that helps in making the overall impact of the managerial function (Auinas, 2006).
In today’s time where things are hard to analyze, the overall holistic view of the business helps in making the managerial function of the enterprise. Pay Structure Architecture: there are certain rules that need to be implied in order to attain the overall compensation view of the business enterprise. They can be defined as follows: Establish a pay policy line for the managerial aspect of business, designing the pay grade that helps in minimum and maximum prospective of the business enterprise, overlapping the pay grade, and determining the organization overall working organization that gives he pay structure and business of the contribution.
Determining the base pay to bonus pay
This factor involves the overall view of business that helps in maintaining the overall view of business enterprise. It today’s time where things are hard to maintain and hard to implement there are certain rules which are needed to be implemented in today time.
There are various calculations which can be under taken to provide the fair and equal justices to the each and every employee of the companies.
Generally the base pay and bonus pay are denoted as the Pay Mix which gives the clear view on how the each sales role of an individual are being performed in order to attain the overall managerial view of the business enterprise. Pay Mix is the ratio between the base salary and incentive salary that helps in targeting the overall managerial function of the enterprise. The common practices that can be followed are as competitive pay, industry, and culture and job determination of the business enterprise that helps in attaining the overall view of the business enterprise. The comparative analysis can be undergone in order to attain the overall objectivity of the business.
Like, if the 30th percentile of salary (base) is $30K and total cash level at 30th percentile is $50K then the pay mix or compensation and bonus are termed as 50/50.
They are mostly commonly used in big entireties in order to carry out the overall managerial work performance of the employees in order to have justifiable answer in term of salary and wages.
Differentiation between Internal and External Equity
Internal Equity methods provides the job position of the organizational hierarchy of the business enterprise that helps in aiming the balancing of the compensation of the values and procedures in all over the aspect of business enterprise. The internal equity are measured on the basis of various integrity and managerial operation that helps in making the overall impact of the business enterprise. The process of internal equity is implied on junior and senior level of hierarchy that helps in ascertaining the flow of information (Malley, 2000).
External Equity gives the market pricing analysis of the wages and salary. This is attain in order to give the fair treatment of the job profile and policies that helps in making the overall impact of the business enterprise to ascertain the overall view of the business enterprise and polices. It is implied in term of monetary value which helps the employees to get motivated as and when the things get into the fasten value of purpose level. The organization is termed with higher compensation package that attracts and protects the best talents and observational value of organization implications.
Types of Benefits
There are certain types of benefits that help the employees as well as company to maintain the well versed operation of the business enterprise. Benefits are most important tool of business aspects that gives the major impact of overall view of the business enterprise. In today’s time where things were employee are motivated by the every act of company, the benefits play vital and major role in term of making the overall view of the company prospective attainable within the premises.
Primary role for benefits for employees can be denoted as the various protections to working workers that doesn’t hampers their income source and outlook of the business. Such income source can be classified as the income replacement policy, retirement income policy retirement income, and medical expense reimbursement of business policy.
There is monitory rule for organization to keep their employees motivated to make the organization work flow smoothly and effectively (Armstrong, 2006).
Conclusion
In short and precise, each and every employee is liable for comprises with attainable values and policies that helps in making the overall impact of the business enterprise. The objective is made in order to imply within the nature of working operation and motivation to attain the desirable aspect of the business and company position. Without being consideration and policies, they are hard to imply and things can go wrong within the tenure of policies managed by the employees. Each and every operational worker is considered in order to maintain the perspective for employee’s benefits and implementation to attain the overall view of the business.
Reference
Malley, M. (2000 ). Creating Commitment: How to Attract and Retain Talented Employees by Building Relationships That Last. John Wiley & Sons.
Aquinas, P. (2006 ). Organization Behaviors. Excel Books.
McFadden, J. (2001 ). Employee Benefits. Dearborn Trade Publishing.
Chingos, P. (2002 ). Paying for Performance: A Guide to Compensation Management. John Wiley & Sons.
Armstrong, M. (2006 ). A Handbook of Human Resource Management Practice. Kogan Page Publishers.
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