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Compensation and Benefits Systems Name: Tutor: Course: Institution: Date: Table of Contents Introduction 3 Boehringer Ingelheim Corporation 3 A Brief Historical View of the Organization 3 Assessment of Company’s Compensation and Benefit System Challenge 4 A Review of another Organization with Similar Challenge 6 Hong Kong Polytechnic University 6 Review of the literature 6 Recommendation to Management on How to Resolve the Situation 7 Implications of the literature 9 Implication of outsourcing Option 9 Implications of Software as a service (SaaS) 9 Implications of adopting human resource information system 10 Conclusion 11 References 12 Compensation and Benefits Systems I…
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Download file to see previous pages For instance, they offer prescription drugs for treating respiratory illness, HIV, hypertension and others. The parent company of Boehringer Ingelheim is C.H. Boehringer Sohn; in fact, they have affiliates such as Boehringer Ingelheim USA Corporation (Icon Group International, 2000). Nevertheless, this paper focuses on exploring compensation and benefit challenge faced by Boehringer Ingelheim Inc., and other recommendations for addressing this situation. Therefore, by achieving objectives in this research, the paper will make a substantial contribution to training literatures regarding compensation and benefit system. II. A Brief Historical View of the Organization Boehringer Ingelheim Company was established at Ingelheim am Rhein in 1885 by Albert Boehringer; In fact, during this period, this company had capacity to employ twenty-eight employees in Nieder-Ingelheim. Nevertheless, this company has grown over the years to become a multinational corporation, thereby supplying pharmaceuticals to consumers from different countries around the world. Moreover, this company has a primary focus on various therapeutic areas such as respiratory, virological, metabolic, cardiovascular diseases, and other diseases that affect the central nervous system. In addition, the company has been actively involved in numerous research and development programs aimed at drugs and fine chemicals innovations. III. Assessment of Company’s Compensation and Benefit System Challenges In Boehringer Ingelheim Company, five years ago, their human resource system was decentralized. In this case, company’s human resource system was serving employees from different locations. Therefore, processes involved in offering human resource services to employees were disorganized because these human resource departments were managed by small groups of staff members. Besides, these groups were dedicated to oversee functions of human resource departments in Boehringer Ingelheim, and they could offer support to employees in this company, but they were not efficient. In fact, their inefficiency was caused by lack of required training and human resource tools, which were needed to improve their efficiency. Furthermore, this company experienced numerous errors within their compensation and benefit system, and inconsistency in the process of handling inquiries from their employees. Moreover, company management did not have a solution to these problems; in fact, they were undecided on whether to undertake strategies such as training or hiring more staff to solve these challenges (Icon Group International, 2000). The company management came up with an idea of seeking guidance from an expert in the field of human resource in order to facilitate positive transformation of company’s operations. In this case, the Watson Wyatt Company was chosen as partner experts due to their experience and in-depth knowledge in the field of h ...Download file to see next pagesRead More
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