Nobody downloaded yet

Compensation Management - Essay Example

Comments (0) Cite this document
Edison International, through its auxiliary, is a distributor and generator of electrical power and a shareowner in infrastructure and power assets, also as renewable energy. Headquartered in Rosemead, California, Edison International is the mother corporation of Southern…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER95.8% of users find it useful
Compensation Management
Read TextPreview

Extract of sample "Compensation Management"

Download file to see previous pages resentation that was bestowed to them by me on the employment of the compensation system and the way it may advance the overall productivity of the corporate
Compensation is the full of all rewards provided to the workers reciprocally for his or her services. The general functions of providing compensation are to draw in, retain, and inspire staff (Tropman, 2001). This includes:
Indirect money compensation system that comprises a theme as well as all money rewards that aren’t enclosed in direct compensation and may be understood to create a part of the agreement between the leader and worker like benefits, leaves, retirement plans, education, and worker services
I had projected to the corporate management to adopt the indirect money compensation system in enhancing their productivity of the company. The projected compensation system is meant to support the organization’s business strategy and to adapt to the social, competitive, and regulative pressures within the atmosphere (Gibbon, 1978). The eventual purpose is to achieve and sustain competitive advantage. Completely different business ways translate into different compensation approaches.
A compensation system is a scheme that is premeditated to establish quantity of pay given the many workers in an organization. A compensation system includes many diverse choice processes, guidelines, and rules for formative pay level and pay arrangement. Here are the different elements of an indirect compensation system.
A vital element of each compensation and choice systems, job competency profiles outline in writing the responsibilities, needs, skills, functions, duties, location, atmosphere, conditions, and different aspects of jobs. Descriptions could also be developed for jobs separately or for entire job families (Daft, 2007).
Job analysis techniques embody the utilization of interviews, questionnaires, and observation. Job analysis could be a system for comparison jobs for the aim of crucial acceptable ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Compensation Management Essay Example | Topics and Well Written Essays - 1500 words”, n.d.)
Compensation Management Essay Example | Topics and Well Written Essays - 1500 words. Retrieved from
(Compensation Management Essay Example | Topics and Well Written Essays - 1500 Words)
Compensation Management Essay Example | Topics and Well Written Essays - 1500 Words.
“Compensation Management Essay Example | Topics and Well Written Essays - 1500 Words”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Compensation Management

Management - Compensation Methods

...for senior salespeople, national account managers, and sales managers”. Commissions and bonuses are two of the most useful types of compensations because they attract a large number of employees towards the companies, which offers such compensations to the employees. Commission is a form of compensation that a company gives to its employees on achieving some targets. Commissions and bonuses play a key role in retaining talented and skilled employees for a company. Increase in salaries is also one of the most effective ways to retain key employees of a company. Employees do not want to leave the job when their companies reward them in terms of increase in...
3 Pages(750 words)Essay

Pay and Reward Compensation Management

...? Reflection of Lecture 5 and 7 May 12 Lecture 5- Pay and Reward Compensation Management This paper will seek to express in brief what I understood from the lecture about pay and reward compensation management. I learnt several things about payment systems, the amounts paid methods and how pay is determined. I also learnt the reasons why pay systems vary. In the pay setting practice, I confirmed factors I already knew such as pay is based on hourly rates, and that the casual workers pay is not as predictable as the salaried ones. The internal market influence pay setting based on the local labor markets and the internal wage structures of the firm as well as internal equity. I learnt the importance of international comparison... their...
3 Pages(750 words)Research Paper

Management Compensation Research Paper

...Management Compensation Introduction Management compensation encompasses all forms of financial returns and other benefits that employees receive in their tenure of employment in return for their enviable contribution to the organization. In the contemporary corporate world, compensation is perceived as a measure of justice; an outcome of productivity. Management compensation is a means of enhancing the balance of work-employee relation by the provision of financial and nonfinancial gains to employees. Compensation is an essential component of human resource management, which aids in...
6 Pages(1500 words)Research Paper

Performance and compensation management-Annotated bibliography

...? Annotated Bibliography: Yoshio Yanadori & Janet H. Marler, Compensation Strategy: Does Business Strategy Influence Compensation in High-Technology Firms?, Strategic Management Journal, 27: 559-570 (2006) This article addresses a salient question pertaining to the link between employee compensation and the technology firm’s thrust on innovation. The empirical examination by the research team of Yanadori and Marler conclusively proves that there is a strong correlation. The compensation packages for several R&D employees in the high-tech industry were studied longitudinally. The results show that those companies which have adopted a competitive strategy...
4 Pages(1000 words)Essay

Compensation and benefits management

...? Compensation & Benefits Management Affiliation: Human Resource Management (HRM) gainedits significance in the professional arena like never before. Organizations require to attract, sustain and encourage brains to accomplish goals. Nowadays humans are considered as one of the most important assets required to carry out the tasks effectively and efficiently. Among many techniques which companies utilize to attract the potential minds, keep and encourage its people is Compensation and Benefits Management (Zingheim and Schuster et al., 2009). Compensation & Benefits Management An effective compensation and...
5 Pages(1250 words)Essay

Human Resource Management Compensation

...Compensation Letter from me to the HR Manager recommending the remuneration package Human Resources Department - Internal Memo HR executive, Hanson engineering Inc. Chicago, IL Marc Melanson The HR Manager, Hanson Engineering Inc. Chicago, IL Hi Marc, Last week we held the final round of formal interviews for the job of Electrical Engineer, level III and I have short-listed James Richard as an excellent fit for the job profile. I am confident he will add value to the firm with his sound technical knowledge, his work experience and energy. His career growth has been rapid and his future prospects are great. I have put together a comprehensive package based on industry standards...
5 Pages(1250 words)Essay

Management - employee compensation and organization

...has to create a balance between these two types of rewards so that it recognizes the employee's motivation. The manager shall not choose it for them. Qn.2 What is the relationship between an employee's salary and his or her feeling of worth Explain your rationale from the viewpoints of an employee and a manager. How can managers create a balance between the two Total words: 250 An employee feels that salary fulfills his basic need and also gives him a feeling of higher esteem (Buelens et al., 2006, Pg. 177-179). An employee views salary as compensation to his skill sets, experience etc. Whereas, a manager, if he is responsible for the cost...
2 Pages(500 words)Essay

Performance compensation management

...Article Critique: Review performance-management processes and avoid litigation, 21 May 2009 8:16am retrieved from < http> on 11th January, 2013 This article offers valuable advice to HR personnel in preventing employee litigations borne out of appraisal practices seen to be unfair or discriminatory. Some performance-management processes have loopholes in terms of breach of contract claims. The article is correct in pointing how proper and thorough communication with employees is crucial to avoiding litigations. On part of the managers, they should be well-versed with all their legal obligations toward workers. The article then goes on to offer valuable guidelines...
2 Pages(500 words)Essay

Employee Compensation (Human Resource Management)

...Employee compensation Affiliation Employee compensation Demographics should play an important role within employee’s compensation because in some cases it is difficult to recruit employees. Additionally, if the place is isolated the people or employees who might be recruited may not be comfortable with the area; hence, through high compensation they get the moral to work in such an isolated region. Thirdly, high cost of living in an area may influence the compensation that is given to employees in the sense that, employees who are compensated with low salaries may find it difficult to sustain their families in such areas (Durai, 2010)....
1 Pages(250 words)Admission/Application Essay

Compensation Management

...Compensation Management of the of the Compensation Management The purpose of the paper is to discuss the details about the three main Equal Pay Act of 1963, FMLA, and COBRA, which are part of the compensation management studies. “Equal Pay Act of 1963” is an amendment made to the Fair Labor standards Act. It is based upon the idea of no discrimination in the wages of labor based upon gender. It was given the shape of the law by John F. Kennedy as a measure of his new frontier program. It was an important amendment for empowering women and diminishing the wages gap due to sex differences. Learning about labor law and its clauses, which...
1 Pages(250 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 Compensation Management for FREE!

Contact Us