Verified Document

Compensation System. A Brief Discussion Term Paper

Dental care under MCSS fee schedule for Ontario Works adults;

Prosthetic appliances such as back braces, surgical stockings, and artificial limbs (provision, replacement, and repairs);

Wheelchairs and repairs for the portion not covered through ADP;

Hearing aids and batteries (co-payment under Ministry of Health and Long- Term Care's Assistive Devices Program (ADP) for the provision, replacement, and repairs to hearing aids);

Vision care for adults;

Dentures where deemed appropriate;

Cost of completing other medical forms; and Other items may be approved individually based on medical documentation stating the need and the benefits.

7. It is important to carefully define these factors and determine an appropriate number for the organization. The definitions should not overlap, resulting in the same job dimension being measured multiple times. However, the important aspects of each job and what the organization wants from its employees must be included. From there, home country-based compensation is the following Your position abroad is seen as if performed in your home country. You maintain your salary structure, which the strength of this compensation. Adjustments are made for additional duties and your reentry status is verified if duties change once you repatriate. Popular with transfers of managers of up to 5 years. Generally, double income with contracts in each country are becoming less popular due to national tax implications and complicated administration procedures, which is a weakness of this compensation. (Home Country Based).

Headquarters-based pay has the following strengths and weaknesses

Advantages

Maintains a partial home-country pay and benefits link.

Eases repatriation.

Provides some commonality of pay, regardless of home country.

Disadvantages potentially more costly than a home-country balance sheet approach.

Makes repatriation more difficult to low-salary countries.

Allows differences in total compensation, requiring special attention in explaining these facts to expatriates.

Requires a means of equating jobs between nationalities so that the single spendable income calculation can be made.

8. Companies should go public to reduce the cost of internationally business activities. Once a decision of this significance is made, it is important that a company has a well defined strategic plan. A well defined plan will not only reduce risk, but it will also lay the ground work of transitioning the organizational changes to the employees who are affected most. Going public will change a company, it is inevitable, and they will now have to face regulations and rules that SEC provides.

For example, if the company entered the biotech industry in 1996 with groundbreaking technology that helped them to grow to $400 million dollars in just eight years. The CEO and the Board believes that they need the IPO to reach aggressive strategic objectives of 40% annual growth rate, introduce six innovative products, and develop two technological breakthroughs. It is also important for both the CEO and the Board to focus on the company's brand image, customer base and marketing infrastructure. Of utmost importance to everyone in the company is strategically placing the senior leadership team in a joint effort towards super ordinate goals rather than personal goals.

The organization should benchmark ideas from other industries to incorporate in its business strategy. This will ensure the IPO is a successful transition, useful, and research has been utilized to allow for the IPO move. There are a few challenges that the company must confront to become a leading company in the biotechnology industry. In order to diminish mistakes and to ensure a straightforward transition towards the IPO, they need to collectively benchmarked the company with other organizations that faced similar circumstances, situations, and goals.

9. Among issues of training, human resources must look to see what global opportunities...

Parts of this document are hidden

View Full Document
svg-one

The company should begin to prepare for a global surge, ensuring that all employees are aware of the potential changes that could face the organization in a short time span.
Internal alignment often referred to as internal equity, means establishing a pay relationship between different jobs, skills and competencies within the organization. This relationship forms the basis of a pay structure which supports the organization's objectives and strategies and is fair to employees, motivating them to achieve these objectives. Pay structure refers to the array of pay rates for different work or skills within an organization. The concept of alignment is based on the principles of equity theory, which measures ratios of individual inputs to outcomes vs. those of referent others and also utilizes the concepts of procedural and distributive justice.

Ironically, when the contingent workforce concept was first trotted out in the late 1980s, it hit a wall erected by a slowing economy. As a percentage of total employment, temporary employment was basically constant during 1989-1991. The concept took hold when temporary employment jumped 12.5% in 1992 and another 16% in 1993. What's missed in the alarmism, though, is that temporary employment is highly sensitive to turns in the economy and always grows especially rapidly (34% in 1984, 25% in 1975) during the early period of recoveries. Contributing to the sharp speed-up in growth of temporary work over the last two years was the fact that, unlike previous postwar recessions, the recent downturn was structural rather than cyclical. This meant most layoffs were permanent; workers weren't going to be called back to their old job when things improved. Because of this, many sought temporary work to make ends meet while searching for another permanent job (Tempting Fate).

10. U.S. executives do make too much money because some of them take advantage of their jobs by doing nothing to put themselves into the company while other employees work to overcompensate for the slack. For example,

Due to the case of Banton, 61, who became a nationwide symbol for workers rights after battling construction giant James Hardie to win a $4 billion compensation package for workers who suffered asbestos-related diseases because the executives did not pay attention to working conditions. Companies must follow the occupational health and safety law, Team structures must be designed throughout the organization to encourage teamwork throughout the company. Engineers and marketing staff must be seen as partners, and positioning the organizational structure to encourage this is one of the first activities that needs to be carried out. The technical and business sides also need to work on collaboration in order to create better product. Communication among all levels of employees needs to be open and frequent, starting with the CEO. All employees should receive regular updates on the state of the business. Most CEO's do not a good team structure since they do not act a team member themselves, which indicates they are being paid too much for not being involved with the company.

A good CEO should be aware on how employees should be treated since he should be required to treat employees as a partner in his business. From there, there, he should use Emotional Intelligence, which is a theory that managers and CEO's understand their employees emotions. This helps them to communicate effectively and it makes the employees feel they are on the page. This approach generated loyalty and challenged the employees to make the business a success. Each employee should be offered stock options and given a portion of the profits as an incentive to keep working toward higher customer satisfaction. Motivation and communication are additional ways the CEO could create happy employees. Challenging employees allows him or her to be creative and generate new ideas or product lines that will increase sales and/or customer satisfaction. Listening to employees opinions is vital to success. The people who work the frontline of any business will have ideas on how to better the processes.

Cite this Document:
Copy Bibliography Citation

Related Documents

Executive Compensation
Words: 918 Length: 3 Document Type: Term Paper

Executive Compensation The role of compensation in organizational behavior is an important one as it is used as a key tool by management to achieve social control over its employees (Pfeffer, 1997, p.102), the primary assumption being that compensation packages affect attitudes and behavior. This is seen as particularly true of executive level compensation on the grounds that management must be sufficiently motivated if organizational objectives are to be met and

Executive Compensation the Average Compensations
Words: 2655 Length: 9 Document Type: Research Paper

In order to compare the executive compensation in both countries, the countries firms should be matched and compared according to industry, size and operation. The executive compensation can be measured or compared accurately according to the industry and firms sizes. From the data, it was found that the executive compensation in both countries were high whereas the firm performance was reducing. The data collection for the executive compensation in

Executive Compensation Has Attracted Serious
Words: 1412 Length: 5 Document Type: Term Paper

Those days are likely over, for a variety of reasons, including shareholder concerns about the ever increasing dilution due to the issuance of options and new accounting rules requiring companies to expense options... In addition, studies have shown that the accounting cost of stock options exceeds employees' perceived value of those options. Finally, there has been a crisis in governance that has caused a reexamination of corporate accounting standards.

Executive Compensation Re: Executive Compensation
Words: 1896 Length: 6 Document Type: Thesis

This talent does need to be retained. With respect to the executives who were involved in mortgage-backed securities, however, this argument holds little water. These are not talented individuals, as demonstrated by the substantial losses their actions have inflicted upon the company. They are not the sort of employees that the firm should be seeking to retain. It is only due to the outdated or erroneous perception that these individuals

Executive Compensation / Pay As
Words: 1738 Length: 5 Document Type: Research Proposal

Part of the reason for this, is because shareholders and the board of directors are allowing this to occur. To prevent the situation from becoming worse, shareholders and the board need to be more independent, by questioning the motives / actions of management. At the same time, there must be some kind regulations in place that can prevent the runaway abuses from occurring. If this kind of strategy can

Executive Compensation Programs
Words: 1929 Length: 6 Document Type: Term Paper

Executive Compensation Programs and Incentives In 1996 the average salary plus bonus for CEOs was $2.3 million. After other benefits were added, this sum rose to $5,781,300. Beginning with Revlon executive Michael Bergerac who broke the $1 million mark in 1974, executive pay and bonus plans have soared to mind-boggling proportions. Although various governmental agencies have set limits on tax-deductible executive compensation, these efforts not only failed but served to raise

Sign Up for Unlimited Study Help

Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.

Get Started Now