Compensation Management
Organizations can also effectively develop when strategic and tactical compensation issues are adequately addressed by the management. An organization's management has to recognize and integrate long-term strategic objectives with short-term tactical requirements (Henderson, 2006). Organizations should develop and operate compensation system that promotes fair treatment by relating job worth to differences in job requirements, recognize the worth and value of employee knowledge and skills.

Some of the principal activities that are required in the development of an organization are establishing a philosophy, identifying the mission, developing a policy, formulating organizational strategy, determining objectives and sub-objectives or goals, defining work unit activities, and grouping tasks into jobs (Henderson, 2006).

Organizations do have written philosophy statements. However, what leaders say and actions they engage in speak volumes about the philosophy of an organization. Members of organizations take what there leaders express in written or verbal forms as the philosophy of such organizations (Henderson,…...

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References List

Henderson, R.I. (2006). Compensation management in a knowledge-based world (10th ed.).

Upper Saddle River, NJ: Prentice Hall.

Peck, C.A. (1982). Compensating Field Sales Representatives. New York: The Conference

Board.

Compensation Management
Different people gain different levels of satisfaction from their jobs. However, it is very difficult to measure with precision the degree of satisfaction people get from any work related activity they engage in. In order to motivate employees who work exceptionally well, employers may device some forms of monetary rewards that are given in appreciation of their hard work (Gomez-Mejia & Balken, 1992). These monetary may be paid directly to these employees or indirectly. The rewards may be given in short or long-term. The rewards systems are used to attract and retain those who have desired skills and knowledge and those who are willing to put forth the effort needed to link their knowledge and skills to accomplish goals and objectives of an organization (Gomez-Mejia & Balken, 1992). ewards system that an organization settles on has to focus on worker attention on specific behaviors that particular organization considers necessary…...

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References List

Gomez-Mejia, L.R. & Balken, D.B. (1992). Compensation, Organizational Strategy and Firm

Performance. Cincinnati, Ohio: South-Western Publishing Company.

Henderson, R.I. (2006). Compensation management in a knowledge-based world (10th ed.).

Upper Saddle River, NJ: Prentice Hall.

It suggests that individuals in similar jobs should have similar levels of pay; otherwise illegal discrimination may be an issue at the workplace. Internal equity demands that the jobs being compared have similar levels of skill (such as two engineers, versus an engineer and a clerical worker), skill sets (a registered dietician vs. A registered nurse would not be 'equal,' because of the greater level of education and knowledge of the D, for example), effort and time devoted to the job (part-time vs. full-time workers are not equitable), responsibility (workers being compared should have similar leadership positions and number of duties), and working conditions (workers on the graveyard shift are not comparable to day workers in most instances). (Internal equity, 2010, U.S. Legal Definitions)
Q6. Define a compensable factor and give a few examples.

A compensable factor is a common element, such as hours per day or number of units assembled…...

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References

Compensable factor. (2010). Business dictionary. Retrieved February 4, 2010 at  http://www.businessdictionary.com/definition/compensable-factor.html 

Exempt employee. (2010). About.com. Retrieved February 4, 2010 at  http://careerplanning.about.com/od/federallawsus/g/def_exempt.htm 

Internal equity law and legal definition. (2010). U.S. Legal definitions. Retrieved February 4,

2010 at  http://definitions.uslegal.com/i/internal-equity/

Compensation Management; Paid Job and Organizational Satisfaction
The relationship between pay satisfaction, job satisfaction and organizational satisfaction are interconnected. In human resource management (HM) literature, there is a great deal of attention paid to job satisfaction. Employees that are satisfied are likely to demonstrate a number of positive behavioral characteristics, compared to employees with a lower level of satisfaction, including a high level of productivity and great commitment to their employer. There are many influences on job satisfaction, and models such as Maslow's hierarchy of needs and Hetzberg's hygiene factors, indicate that pay satisfaction is a key component, and while money alone may not always be a motivator, it has the potential to undermine the employment relationship if an employee does not see the amount they are paid as being fair (Buchanan and Huczynski, 2010). Where employees feel they are being paid fairly, other factors may be used to motivate improve…...

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References

Adams, J.S. (1965), "Inequity in social exchanges." In L. Berkowitz (Ed.), Advances in experimental social psychology Vol. 2, pp. 267-299, New York, Academic Press

Buchanan, D; Huczynski, A, (2010) Organizational Behavior, Harlow, FT/Prentice Hall

Henderson, R.I. (2006), Compensation management in a knowledge-based world (10th ed.). Upper Saddle River, NJ: Prentice Hall.

Therefore, companies must develop and implement human resources strategies that focus on improving the job analysis process. This is because job analysis has a significant impact on numerous human resources activities. The recruitment and selection process relies on the information provided by job analysis. In addition to this, the motivational strategy of the company is also influenced by such information, because it allows the appropriate evaluation of salary packages. The job analysis process influences the efficiency and productivity of the company.

eference list:

1. Bhushan, A. (2011). Uses of the Job Description and Job Analysis. etrieved May 9, 2011 from http://performance-appraisals.org/experts/jobdesc.htm.

2. Adler, L. (2009). Multi-Stakeholder Job Analysis. The Adler Group. etrieved May 10, 2011 from http://www.adlerconcepts.com/resources/column/newsletter/multistakeholder_job_analysis.php.

3. Landy, F. & Conte, J. (2010). Work in the 21st Century. McGraw-Hill. etrieved May 10, 2011 from http://books.google.ro/books?id=1K1rnp9uAscC&pg=PA203&dq=job+analysis+approach&hl=ro#v=onepage&q=job%20analysis%20approach&f=false.

4. Job Analysis (2011). Encyclopedia of Business. etrieved May 10, 2011 from http://www.referenceforbusiness.com/management/Int-Loc/Job-Analysis.html.

5. Job Analysis: An Important Employment Tool…...

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Reference list:

1. Bhushan, A. (2011). Uses of the Job Description and Job Analysis. Retrieved May 9, 2011 from  http://performance-appraisals.org/experts/jobdesc.htm .

2. Adler, L. (2009). Multi-Stakeholder Job Analysis. The Adler Group. Retrieved May 10, 2011 from  http://www.adlerconcepts.com/resources/column/newsletter/multistakeholder_job_analysis.php .

3. Landy, F. & Conte, J. (2010). Work in the 21st Century. McGraw-Hill. Retrieved May 10, 2011 from  http://books.google.ro/books?id=1K1rnp9uAscC&pg=PA203&dq=job+analysis+approach&hl=ro#v=onepage&q=job%20analysis%20approach&f=false .

4. Job Analysis (2011). Encyclopedia of Business. Retrieved May 10, 2011 from  http://www.referenceforbusiness.com/management/Int-Loc/Job-Analysis.html .

At Hallen Corporation the employees will be required to pay the insurance premiums of the healthcare policy they take with them (Caruth & Handlogten, 2001; White & Druker, 2000). The Americans with Disabilities Act prevents Hallen Corporation for discriminating against employees of the basis of their disability. An employer must make reasonable accommodation for an employee to work if they have a disability (Whit & Druker, 2000). A rewards based incentive program or the "employee of the month" program at Hallen is one that all employees area eligible for according to the law (White & Druker, 2000).
On implementation, to deal with traditional bases for pay the company will grandfather in old employees so they may still enjoy the compensation benefits of the company previous to the inception of the new strategy. Implementation would provide incentive pay to employees that fill high-need and high-skill positions in the way of a…...

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References

Caruth, D.L., Handlogten, H. (2001) Managing compensation: And understanding it too.

Westport: Quorum Books.

Martin, D.C., Bartol, K.M. & Kehoe, P.E. (2000) the legal ramifications of performance appraisal: The growing significance, Personnel Management, 29(3): 381.

White, G. & Druker, J. (2000) Reward Management: A Critical Text, London: Routledge.

" (2002) p.7
Methodology

The methodology proposed in this study is one of a qualitative nature and is to be conducted through an extensive review of literature in this area of study combined with a survey of employees in a yet unchosen organization which will quiz the employees concerning the factors of primary importance in retention and satisfaction of employees by the organization.

Population and Sample

The population and sample in this study is as of yet, undetermined and will be decided at a later date.

Research Design

The research design in this study is as stated previously of a qualitative nature and of the nature that will ensue with an extensive review of the literature in this area of knowledge in order to ascertain the primary findings in previous research in this area of study. Secondly, the research proposed in this study is for a survey of employees of an organization for the purpose of…...

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Bibliography

Best Practices in Compensation (2009) Workforce Tools. Whitepapers. Online available at:  http://www.workforce.com/tools/whitepapers/090817_bp_comp.pdf 

Bos, Julie (2002) Building Engagement in an Economic Crisis: Leading the Way in Employee Engagement and Retention. Online available at:  http://www.workforce.com/images/whitepapers/090420_ltw_employee_engagement.pdf 

Differentiated Compensation Programs -- a Business Imperative (2009) Taleo Corporation. Online available at:

Second of all, the Army needs to have the ability to rapidly and efficiently alter payment policies to reply to altering market conditions and goal requirements.
Third, payment policies need to be straightened with bigger human capital approaches to produce the greatest worth and lessen expenses. Lastly, policy must support a hierarchy of strategic goals and results for efficiently contending for skill, motivating and fulfilling efficiency, and acknowledging unique contributions to objective.

For the Army and various other U.S. Armed force teams, compensation can be broken into 3 significant parts -- non-cash, cash and deferred (eview of Military Compensation, 2008). Money consists of standard pay (60% of compensation plan), real estate allowance (tax exempt protection for non-government real estate), subsistence allowance (regular monthly stipend to balance out the expense of meals), Unique & eward pays (difficulty and changeable pay), tax benefits (previously mentioned cash rewards are all tax exempt), and various…...

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References

Baldor, L. (2012). U.S. Army more selective on recruits, re-enlistments. Associated Press.

Bedard, P., & Newman, R.J. (1999). Army recruiting is dogging it. U.S. News & World Report, 127(23), 11.

Briscoe, D. (2000). Army Offers Bonus for Soldier Students. Community College Week, 12(14), 3.

Malos, R. (2004). Enlisted Personnel Notes. Engineer, 34(3), 36.

Compensation Components Offered at a Foreign Work Site
The compensation components offered to an employee of a U.S. company with the opportunity to take a job at a foreign work site availed through some form of an insurance plan. An important set of components is always non-insurance based and provides income to the employees at a foreign work site. These benefits can be classified into three major segments:

Loss of job income continuation

Disability income continuation

Accident and health protection

Liability and property protection

A special set of services and benefits known as prerequisites (Henderson, 2006).

All the categories contain various compensation components with various features given to an employee of a U.S. company with the opportunity of working at a foreign work site.

Disability income continuation

Disability can be categorized as temporary, singular, partial, or total. When the employee is unable to work because of some health related problem or an accident, disability income and continuation payment helps…...

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References

Henderson, R.I. (2006). Compensation management in a knowledge-based world (10th ed.). Upper Saddle River, NJ: Prentice Hall.

Goel, D. (2008). Performance appraisal and compensation management: A modern approach. New Dehli: Prentice-Hall of India.

Q12. Describe the impact of legislation on the field of compensation management.

Minimum wage and overtime laws restrict the minimum amount employers can offer to workers; anti-discrimination legislation mandates that employees are compensated without regards to their racial, ethnic, gender, or disabled status.

Q13. Identify the impact of incentives such as bonuses to a compensation program.

For some professions, such as sales and investment banking, bonuses derive the bulk of the individual's expected salary. Bonuses can also be a means of distinguishing social status between employees. Bonuses can also simply be used to encourage higher levels of performance, based upon short-term outcomes.

Q14. Explain how the global market affects U.S.-based companies' compensation.

In a global marketplace, high-quality employees are more 'portable,' but because of the ability to outsource labor, employees may also find their salaries kept artificially low through the availability of lower-cost foreign workers.

Q15. Describe salary/market surveys.

Salary market surveys, much like a market survey…...

compensation strategies companies. For company selected, discuss a 350-word synopsis: • Evaluate compensation strategies executives company. • Evaluate compensation strategies sales forces contingent workers company.ID
Compensation strategies for two companies

Whole Foods

Whole Foods, the organic grocery retailer, is one of the few companies that has actually reported garnering positive press as a result of its executive compensation policy. Whole Foods ' "caps the chief executive's salary and bonus at 14 times the average worker's pay" (Clark 2006). This is intended to reinforce the team-based leadership and performance reviews that structure the company's leadership within its stores throughout the nation. However, it has been noted that Whole Foods is not quite as democratic in reality as its written policy might suggest. CEO John Mackey made $1.8 million exercising his stock options, far more than his official salary of $436,000 (Clark 2006). However, his overall compensation is still relatively low, compared to other…...

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References

Blodget, Henry. (2012). Apple's new CEO Salary 378 million times more than Steve Jobs.

Yahoo Finance. Retrieved:  http://finance.yahoo.com/blogs/daily-ticker/apple-ceo-salary-378-million-times-much-steve-154822390.html 

Clark, Hannah. (2006). Whole Foods: Spinning CEO Pay. Forbes. Retrieved:

 http://www.forbes.com/2006/04/20/john-mackey-pay_cx_hc_06ceo_0420wholefoods.html

When all the needs or expectations of the stakeholders are met, the business will continue to thrive.
Core Human esource Functions

Involuntary turnover is rampant among employees of high talent. These employees form then crucial asset that determine the overall success of the organization. Involuntary turnover occurs due to issues such as frequent absences, premature termination of contracts, sexual harassment or by the mere fact that an employee becomes overqualified for a particular job. Supposing I were a top H manager in my firm I would hire people who are qualified to fill any vacant positions taking keen attention to exclude overqualified persons so as top avoid the occurrence of involuntary turnover in the future (Taylor, 2005).

Additionally, I would introduce strategies that seek to retain employees in the organization. One of the strategies would be to introduce teambuilding activities such as retreats and workshops. I would also ensure that the employees…...

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References

Svensson, G., & Wood, G. (2003). The dynamics of business ethics: a function of time and culture -- cases and models. Management Decision, 41(4), p350.

Taylor, S. (2005). People resourcing. London: Chartered Inst. Of Personnel and Development.

Management Theories
Historical records show that people always organized themselves in order to work together towards a common objective and they coordinated their efforts to achieve this objective (Accel-Team 2004). It was not until the latter part of the 19th century that the concept of scientific management entered history during the Industrial evolution, but management skills existed long before the 19th century. Ancient Egyptians built the pyramids, ancient Chinese erected the Great Wall of China, the Mesopotamians irrigated their lands and walled their cities and the omans of old put up their roads, aqueducts and notably Hadrian's Wall not without established and superb management standards of their leaders (Accel-Team) and massive obedience and coordination among the followers. The pyramids of Egypt, wonders of the world, each measure 75,600 square feet at the base, 480 feet high and consists of more than two million blocks of stone, each weighing 2.5 tons. Its…...

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REFERENCES

1. Accel-Team. (2004). Developments from Ancient History. Accel-Team.com. http://www.accel-team/scientific

2. Allen, G. (1998). Management History. Supervision. http://allie.dcccd.edu.mgnmt1374

3. Geocities. (2004). Human Behavior. sydication/hr.htmlhttp://www.geocities.com/the

4. McNamara, C. (1999). Very Brief History of Management Theories.  http://www.mapnp.org/library/mgmnt/history.htm

Managing ecruitment and Selection
Being able to successfully manage the recruitment and staffing of an entire Human esources (H) department is the foundation of a successful enterprise. For example, eese and French cite the work of Bratton and Gold in saying, "ecruitment is the process of generating a pool of capable people to apply for employment to an organisation. Selection is the process by which managers and others use specific instruments to choose from a pool of applicants a person or persons more likely to succeed in the job(s), given management goals and legal requirements" (2010). This quote aptly highlights the extreme importance of being able to successfully woo and establish a team of competent people who are equally invested in doing an exemplary job with a given company. Thus, the H department needs to understand the nuances and strategies that go into the process of successfully winning over the right…...

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References

Burton, J., 1998. Managing Residential Care. New York: Routledge.

French, R. & ., 2010. Recruitment and Selection. [Online]

Available at:  http://www.cipd.co.uk/NR/rdonlyres/01F95685-76C9-4C96-B291 -

3D5CD4DE1BE5/0/9781843982579_sc.pdf

The World ank model centers on a five-person team called the Performance Advisory Service or PAS (Yandrick 1995). PAS trains supervisors to analyze work performance and personality problems. The supervisor first determines if a skill deficiency is involved or there are personal and environmental factors. He does this by reviewing the employee's records in search of troubled behavioral patterns; consulting with work team leaders, colleagues and support staff in investigating possible problems within the organization; and/or directly exploring the employee's work performance and conduct.

In the last option, the supervisor may ask or remind the employee about the consequence of poor performance; if he or she is being rewarded for poor or nonperformance; if performance matters to him or her; if there are health or stress factors conducing to his or her poor or low-level performance; or if there are external stimuli behind it. Armed now with the different angles and…...

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Bibliography

Brown, J. (1992). How Would You Handle These Prickly Management Problems? Medical Laboratory Observer: Nelson Publishing.  http://www.findarticles.com/p/articles/mi_m3230/is_n11_v24/ai_13806643 

Business Wire. (1999) a.M. Best Company Says Technology Can Solve Insurance Management Problems. Gale Group 2000.  http://www.findarticles.com/p/articles/mi_m3MKT/is_n78_v97/ai_56542486 

Day, CM. (1987). Three Diagnostic Clues to Management Problems. Medical Laboratory Observer: Nelson Publishing.  http://www.findarticles.com/p/articles/mi_m3230/is_v19/ai_5118836 

Heisler, DL. (1989). The Wrong Response to Today's Problems. American Metal Market. Reed Business Information.  http://www.findarticles.com/p/articles/mi_m3MKT/is_n78_v97/ai_7565287