Sign Up Now
Get instant access to over 1 million+ study documents
OR
Already registered? click here to login
By creating your account, you agree to our terms of service, privacy policy and student honor code.
HR Compensation
It is well established that human resources personnel have a direct and forceful impact on the strategic success of any business or economic organization. Ulrich (1997) suggests that "the relationship between HR practices and business results is built on a rather simple premise: better deployment and use of HR practices should correlate with higher business results "(p.303). One tool HR managers have at their disposal is the use of compensation packages and their unique impact on the labor force. The purpose of this essay is to examine compensation packages, in both the monetary and non-monetary form, impact on attracting and maintain a desirable workforce and the possible influence on the overall effectiveness of the organization.
Casico (2010) discussed the aspect of compensation in terms of rewards. He suggested that compensation could be divided into two separate categories; either financial or non-financial rewards. Financial rewards are considered the monetary distribution of profits to employee's salaries and indirect payments such as benefits. Nonfinancial rewards are more vague but they include such...
Although financial rewards are more tangible and common, it is important for HR leadership groups not to diminish the subtle qualities that contribute to non-financial rewards. Unfortunately this aspect is commonly overlooked in many instances.
According to the video interview of SYSCO personnel, many of the key players proclaim the importance of a strong human resources department contributing to the overall productivity levels of their operations. Ken Carrig, COO of a very successful and high-profile company, SYSCO, manages a system where human capital is one of the key metrics involved in ranking the overall quality of the company. Within this metric he claims that employee satisfaction is the most important factor in maintaining higher production levels. This emphasis demonstrates the importance of nonfinancial rewards to the larger compensation picture.
Monetary rewards are complicated and complex in their own right. Paying…
Works Cited
Cascio, W. (2010). Managing Human Resources. Productivity, Quality of Work Life, Profits. 8th edition. McGraw Hill.
Casico, W. (n.d.) . HR in Alignment hosted by Wayne Casico.
Ulrich, D. (1997). Measuring Human Resources; An Overview of Practice and A Prescription for Results. Human Resource Management, Fall 1997. 36, 3, Pp 303-320. Retrieved from http://www.e-rh.org/documents/ISO/measuring-hr-kpi-for-hr.pdf
Compensation Management Explain the job characteristics theory. How does it tie in with intrinsic compensation? Job characteristics theory was first introduced by Hackman and Oldham. Later on the basis of this theory, a job characteristic model was proposed which is also known as JCM. The theory focuses on five job attributes which helps in motivating the employees and make them feel satisfied at their job. The five job characteristics are as follows: Task
HR Compensation Compensation strategy is a useful tool that many, if not all, human resources managers can and should use in order to maximize their efficiency and effectiveness within the scope of a larger institution. Compensation strategy allows for the principles and character of the organization to show and demonstrates ability to negotiate the challenging aspects of maintaining a competitive advantage within a given industry. The purpose of this essay is to
This plan will help a company to cope with the challenges of having a high rate of employee turnover since the employees with get satisfaction in their work places from the bonus of their hard work. All in all, reward and appraisal are important tools used to ensure that employees are motivated and dedicated to their work hence retaining them and improving of the company's productivity. Therefore, every company should
Compensation Decisions Your job now is to pull together all the information you've completed so far in class and make salary decisions for your team. You have completed Cathy's evaluation and received assignment feedback. This is the first year that you've made salary decisions for this team. Be sure to carefully review the information provided. You may simply type in the cells as the text will automatically wrap. You are required
HR Case Analysis Verizon This report is a combination review of the article "Verizon Communications, Inc.: Implementing a Human Resources Balanced Scorecard" and also a review of the process of balanced scorecard. Companies today can only get what they measure. When it comes to Human Resources performance management, how can they be sure they are measuring the right things? Or, are the communicating the right information to the right people? There are
Compensation Practice Ford Motor Company Henry Ford established the Ford Motor company in the year 1903. This was done with the help of eleven other business associates at a time when there were eighty seven other motor companies in the U.S. Before Henry Ford got into the motor business, cars were very expensive and were considered as luxury possessions and that only the wealthy minority could afford them. What set Ford apart