Contact Us
Sign In / Sign Up for FREE
Go to advanced search...

PORTFOLIO PROJECT Part 7 - Essay Example

Comments (0) Cite this document
Compensation Management [Instructor Name] Portfolio Project – Part 7 - Compensation For this portfolio project, several themes will be discussed under the perspective of the following job description, as classified at O*Net (2013): 13-2011.01 - Accountants Introduction The contemporary literature brings several definitions of compensation…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER95.6% of users find it useful
Read TextPreview

Extract of sample "PORTFOLIO PROJECT Part 7"

Download file to see previous pages In stakeholders’ opinion, it is the benefit given to employees in exchange of the effort they have made for the organization. One complete definition for compensation is that it is a method to deal with all kinds of rewards of employees in the work system (Bomkamp, 2013). Compensation management as a HR function is significantly valued in organizations. Managers believe that it is a function that engages employees to their work system. They consider it as a function to ensure employees’ motivation in the work place. From a strategic point of view, compensation management is a planning stage for retaining employees. It is a planning process to organize qualified workers in the work system. It is a system that integrates workers with organizational culture and values. According to the contemporary literature, compensation is of two major types - financial and non-financial compensation. Financial compensation includes direct wages and performance based salaries while non-financial compensation may include job rotation, job expansion, hierarchy promotions and other resourceful benefits such as health insurance, medical facility, house or transport facility. In organizational practice, financial compensations are designed in accordance to market trends, while non-financial compensations are flexible, as they can be changed or amended depending upon the financial position of the organization. Furthermore, the literature asserts that compensation can be for the short term and long term. For example, Google Inc. offers work time entertainment facilities to employees as short term compensation, and the other company - Scientific Games Corporation offers $9.1 million golden parachute to the chairman of the office as long term compensation (Bomkamp, 2013, p. 2). The core objective of any reward or compensation is to retain employees and for that reason it has been noted that organizations actually determine compensations using flexible methods to ensure employee retention. Definitely, if compensations are successful to retain employees, the employee turnover will be lower and as a result the organizational performance will be improved. This is what any organization would like to achieve from its compensation policy that is to increase employee performance. When high levels of employee performances are achieved then the company can expect higher efficiency and performance. The Challenge According to Joe (2011), accountants are in-charge of most of the technical work in an organization system (Martocchio & Joe, 2011). They have to conduct market research, prepare financial reports and bring revenue forecast, which is all a managerial level of task and operation (Martocchio & Joe, 2011). An effective compensation for accountants is one, which can justify with the accountant’s nature of work which involves high responsibility, major skill and effort (Singh, 2007). Definitely, if an accountant gives his full effort, the knowledge and skill to his organization so the organization should acknowledge it by returning him back in the form of effective compensation. This is the challenge which most of the firms face while designing compensation for accountants, as they miss out the elements of fairness and equity at the time of compensating accountants (Martocchio & Joe, 2011, p. 20). Proposed Procedures for Accountants’ Compensation Management Market Assessment For designing effective ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“PORTFOLIO PROJECT Part 7 Essay Example | Topics and Well Written Essays - 1250 words”, n.d.)
Retrieved from
(PORTFOLIO PROJECT Part 7 Essay Example | Topics and Well Written Essays - 1250 Words)
“PORTFOLIO PROJECT Part 7 Essay Example | Topics and Well Written Essays - 1250 Words”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document


PPD3 Portfolio Part 1

...?Reflection Initially, the first part of the requirements that we submitted where the cover letter and CV for Enterprise Rent-A-Car to be followed bythis reflection. Drafting the two documents alone had already given me valuable insights on why learning more about myself through series of personality, psychometric and AGCAS tests are needed. Likewise, the comprehensive TSA was very useful as a guide in detailing parts of me (skills, abilities, and interests) that would be needed for a certain job. However, learning is beyond gathering information and knowing some facts or details. True learning happens when one can analyze all the foregoing events and put them together. Indeed, all the preparations and research we have undergone resulted...
14 Pages(3500 words)Essay

PPD3 Portfolio part 2

...? Portfolio analysis BY YOU YOUR SCHOOL INFO HERE HERE Portfolio analysis ARUP The job fair experienced involved an interview with the company ARUP, a multi-faceted organisation providing multiple services in areas of consulting, design and architecture, software development, business management support and operations consulting (, 2010). This particular organisation, identified through research and personal interaction, recruits with diversity in mind, which seems to be a main focus of their entire employment package and processes. The organisation, whenever possible, attempts to recruit from within by offering competitive promotional opportunities for high performers. Externally, the company attends job fairs, creates advertising...
7 Pages(1750 words)Essay

Project 7

...? Project 7: Test Scores The concepts associated with this assignment are correlation and the coefficient of determination.The most widely used measure of correlation coefficient is Pearson’s product-moment correlation coefficient. It measures the degree or strength of linear relationship between two sets of variables. Pearson’s correlation indicates the strength of the relationship between two sets of variables. According to Mason and Lind (1996) it is designated r and has a can assume any value between -1.00 and + 1.00. A positive (+) value indicates that there is a direct or positive relationship and a negative value indicates that there is an indirect or negative relationship. A direct relationship indicate that as A increases B...
2 Pages(500 words)Essay

Portfolio Project Part 5

...? Portfolio Project Part 5: Accountant Job Portfolio Project Part 5: Accountant Job The job of accountant involves performing of accounting tasks for organization, companies, or an individual. Exact materials handled by accountants usually vary depending on size of the organization and the specification of a particular accountant (Bragg and Roehl-Anderson, 2011). However, all accountants have specific or general responsibilities and financial records that they usually handle. Accountancy is a vital position within an organization regardless of the size or the nature of the organization. However, the requirements and specification of this job usually vary on specification and nation (ACCA…, 2007). Nonetheless, the general requirements...
4 Pages(1000 words)Essay

Portfolio Project Part 6

...? Portfolio project Portfolio Project Performance management is the process that significantly influences organizational success. Managers and employees work hand in hand and as a team to set goals, objectives review outcomes and reward performance. The accountant is evaluated using the (BARS) behaviorally anchored rating scales. This method is effective since it combines traditional rating scales and critical incident methods. It is significant to note that job behaviors derived from critical incidents are described more objectively (Gilmore & Shonhiwa, 2008). In order to measure the performance of an accountant, it is significant to use the critical incident and BARS methods. A combination of these methods would sufficiently measure...
4 Pages(1000 words)Assignment

Portfolio Project

...Portfolio Project Table of Contents Introduction This report has been prepared to assist one of the in the selection of stocks listed under S& P 500. Here the risk relating to individual stocks has been diversified effectively by constructing an optimal portfolio of blue chip companies. In the modern financial market a rational investor invests his money in a pool of assets referred to as ‘portfolio’. Unlike in the past when an individual invested his money in a single asset class exposing him to high risk, spreading the investment corpus across various assets is the norm of the day. The main aim of investing in a portfolio is diversification of risk. For constructing the portfolio, the stocks of internationally reputed companies like...
20 Pages(5000 words)Research Paper

Project part

...Best Buy Retail Shop Amongst the top portfolio retail shops that deal in electronics, Best Buy is the largest of all with a value of around $20.5bn. The company realizes annual revenue that can be estimated to the tune of $40bn that helps it in managing the employees’ salaries and the rest ploughed back in the business. Best Buy also deals in a variety of goods that include home-office products, entertainment software and other appliances. It offers other related services that extend globally. The company has up to 1300 branches that are jointly run with other subsidiary companies like Geek Squad, Magnolia Video, Speakeasy, Audio Visions, Pacific Sales, Jiangsu Five Star Alliance and Future Shop. These stores are spread in countries like...
1 Pages(250 words)Essay

Portfolio Project Part 5

...Portfolio Project Part 5: A Rail Road Engineer Portfolio Project Part 5: A Rail Road Engineer A locomotive engineer, engine driver, train driver, train operator, or railroad engineer is responsible for driving a train on a railroad or railway. The railroad or locomotive engineer is responsible and in charge of driving the train and the locomotive mechanical operation, all train handling and speed of the train (Patzak, 167). An engineer is mandated to organize equipment to be examined, checking condition of the locomotives and the paperwork. Their task requires that they be in charge of acceleration, handling, and underway braking. They must be familiar with the physical railroad distinctiveness including passenger stations, the decline...
4 Pages(1000 words)Essay

Portfolio project

In 2012, the deficit in global budget narrowed down to approximately $2.7 trillion (a representation of 3.80% of the global GDP-Gross Domestic Product). However, the global economic growth shifted (dropped) to 3.10% in 2012 from 3.70% in 2011 and 5.10% in 2010 fiscal years. The global unemployment rate increased to 9.20% in 2012.
Countries that used expansionary monetary and fiscal policies attained significantly increased growth rates, lower rates of unemployment, increased growth in tax revenues, and success in cutting down public debts. Countries that employment contractionary policies failed to achieve what the former countries realized. In 2012, over 85 countries with pro-growth strategy realized median Gross Domestic Pro...
16 Pages(4000 words)Term Paper


... children as a strategy for investment. The culture of saving especially for old age is also on the rise among the peasants who are now part of various schemes provided mostly by NGOs and family planning associations. The schemes not only promote the One-Child Policy objectives of family planning but also provide social welfare services such as training, loans and screening for maternal the child health among rural women. One perennial hindrance to effective family planning services surrounded the poor quality and limited access to contraceptives in rural areas where sterilisation and intrauterine devices were the only options. Efforts by international organisations like the Un Population Fund, have led to an improvement in quality...
8 Pages(2000 words)Term Paper

Analysis of the Key Factors Leading to a Successful Project

Theorists also have given their opinion regarding the nature of planning a successful project. The combined study of all the works of others and analysis of the previous projects would give a better vision regarding what is a successful project plan. As an executive summary has to say the following, regarding the factors or key factors that lead to a successful project.

The success begins from the point of how we select the scope of the project or to be more precise on how we clearly understand the scope of the project. And organizing the project plays a prominent role in its success. Concentrating on the impact will also work possible for the success of the project. The Executive Summary says that the project should be...
8 Pages(2000 words)Business Plan

The Use of Logical Framework in the Project Cycle: Is it an Essential Tool

Dijkzeul & Beigbeder (2003: 209) define logical framework as “a tool which provides a structure for specifying the components of a program, and the logical linkages between a set of means and ends”. Thus it describes a project in a logical fashion and is a way of testing the logic of a plan of action. Project work when conceived in the form of a project cycle with consecutive phases simplifies the enormity of the task by tackling each phase of the work as an independent unit in itself. Each stage of development in any project requires the performance of a particular area of the work so that the project is completed in a series of phases (Hira and Parfitt, 2004: 34).

All development agencies have become a...
11 Pages(2750 words)Report

Photo Collage Project Responces

A collage is something that speaks of one particular situation or theme and yet it is composed of many parts.  Thus, an artist doesn’t only take one good shot of a particular scene but of many several scenes because he still has to put it together to make a new harmonious picture. The title of my collage is Desolation; which means something that is unhappy, ugly or deserted. So to start my college I went to different places to take the perfect pictures. I went to Alba, to a power plant, to Sitra, and to many other places. I had fun traveling but it could also be tiring at times. The excitement is always there, however, it could also be frustrating as I always had to explain why I am taking pictures. People tend to becom...
12 Pages(3000 words)Assignment

My College Education and Internship Project

As I complete my education at Touro College it indicates that I am taking the first step towards launching into a full-fledged career. It not only signifies the end of my education but also my readiness to begin working and contribute to the world in general. I believe that my internship at Web fact, a technology company, has made me apply the concepts and skills that I have learned during my college education. The application of the theory that I learned in college in my internship helped me put my education in perspective. 

I am in my 5th semester of the Bachelor’s degree in Management and International Business at Touro College, Berlin. I find it exciting to study in English and getting an international pe...
9 Pages(2250 words)Coursework

The Work Breakdown Structure and its Advantages in Project Planning

A typical construction project involves a WBS that evolves from an initial task that is successively subdivided into smaller work blocks until the lowest level is reached, indicating a tree-like structure. Subdividing the project breaks down the project work effort into packages that are both manageable and independent. It connotes that the lowest level of the package corresponds to the smallest project work, which requires the shortest completion time periods. As WBS shows the relationship of all elements of a project, a sound basis for cost and schedule control is provided.

Some lists of project activities involved in WBS include budgeting, cost allocation, time allocation and management, and quality assurance. These...
11 Pages(2750 words)Report

Billing System Upgrade with Web-Based Version Project of Rick Auto Enterprises: A Communication Plan

The project is envisioned to involve changes to existing business processes, changes to existing jobs, and/or the creation of new positions. With the new web-based version, customers and auto brokers will be able to view and pay their bills online, as well as access a billing customer service agent is required. This change will affect the billing, sales, and customer service departments but it is expected to reduce costs, improve customer satisfaction, and reduce the number of days for outstanding accounts receivable.
Ownership of the existing system rests with the Billing Department. However, with the benefits projected to be derived from the upgraded system, especially with the implantation of the web-based version, the Cus...
12 Pages(3000 words)Case Study

Project Risk Assessment: Qualitative Versus Quantitative Approach

The risks may vary in terms of nature or scope according to the situation. So since the risk is so common in project management, a very important aspect of managing a project is analyzing all the possible risks that are associated with that particular project. It makes no sense of going on with a project and not giving a thought to the risks that could affect the success. Once these risks are analyzed, the project manager will have all the possible risks in front of him. He will know the degree of risk and also the benefits that the organization will get if the risk is taken. Therefore only after a risk analysis, the project manager is in a position to conclude whether or not it is worth taking the risk and going on with a certain...
6 Pages(1500 words)Assignment

Project Management: Best Practices and Stakeholders Perspective

Employees of functional divisions are assigned or detailed to a specific project and then re-assigned back to the organization when the project is completed.
Project management is defined by the Project Management Institute (PMI) as the application of knowledge, skills, tools, and techniques to project activities to meet project requirements; and its methodology as the planning, monitoring, and control of all aspects of the project and motivation of all those involved in it to achieve the project objectives on time and to the specified cost, quality, and performance.” Being a temporary, one-time endeavor, it differs from the organization's operations and processes which are its current and permanent work to create a pro...
6 Pages(1500 words)Literature review

Developing Professional Practice Portfolio

I work in a very busy outpatient department that includes many different clinic settings.  Most recently, the oral surgery, maxillo-facial surgery, and plastic surgery departments have become part of our directorate as a result of reorganization with in the trust. Although I have always considered myself to be a competent, confident professional, I found working in this reorganized department very stressful. The unit seemed to be very poorly organized with staff shortages and inadequate facilities. I was most surprised to discover that there were no documented records for patient wound care services provided in the clinic. I found this latter situation to be unacceptable from a professional standpoint. Some of the patients in...
6 Pages(1500 words)Essay

Project Planning Human Capital

Project planning involves a lot of factors and areas that we need to address for the effective management and handling of the project. The aim of this report is to provide a deep insight into some of the main areas that we need to address for the project of Adams's family farmhouse renovation. These issues are project team communication, project risk management, and deadline handling. Effective communication in a project provides a huge advantage regarding the better working and handling of the project. I have selected a very significant project regarding the preservation of the old and historical places. Here we require effective communication to provide better interaction among the designer, developers, and history preservation...
8 Pages(2000 words)Coursework
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic PORTFOLIO PROJECT Part 7 for FREE!

Contact Us