Extract of sample "Compensation Laws and Legislation"
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Medical treatment requires that an employer or an employers insurer pay the medical bills and requirements, of an employee injured in the course of duty, or gets sick due to work related factors. Vocational rehabilitation requires an employer to offer rehabilitative services to an employee who gets disabled due to work related factors, and is unable to get employed due to that disability. All these requirements of the law are discussed giving examples of related court cases. The court cases illustrate different situations that arise in workers compensation laws, and provide guidance to employers on what they should do when faced with similar situations.
Pieces of legislation relating to compensation are covered under Workers’ Compensation Act (WCA). This legislation ensures workers are paid their medical, disability, and other related benefits in case one gets ill or gets hurt on the job. The benefits are paid to an employee’s dependents if the employee gets killed on the job. The laws are designed to ensure employees who become injured or disabled are given financial support. These laws also guide employers to provide necessary compensation and avoid the need for litigation (Hwang & Kleiner 70). Some laws also protect the employers by getting rid of liability of co-workers in most accidents, and by limiting the amount an injured employee can be paid. Federal Employees’ Compensation Act is specific to federal employees only, but there are Workers’ Compensation Acts established by each State that guide employers in those States. This paper is focused on discussing the three critical pieces of legislation relating to compensation. Workers’ Compensation Act ensures employees get their benefits through three main programs; medical treatment, wage replacement, and vocational rehabilitation. These three programs are considered the most critical parts of the Workers’ Compensation Act (Hwang & Kleiner 70).
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Western Union Money Transfer: Compensation and Benefit Challenges.
Western union is a financial service and Communications Company based in the US and it conducts the business of wireless money transfer services. The company transfers money electronically from one area to another.
The Act: At the onset of the end of the first decade of the 21st century the US economy has been suffering from the global financial crisis. During this time, the unemployment rate of the country has been at almost 10%. Also this high level of inflation rate also increasing at rapid speed with the beginning of the New Year.
Representative Michael Oxley in 2002, was aimed at monitoring the activities and operations of public companies. It was meant to increase investor confidence and increase reforms in public companies. Corporate governance was the main factor behind the enactment of this Act, which required companies and corporate bodies to account for their internal controls (Brodkin, 2007).
According to the paper, the laws, pertaining to the intellectual property protection, can be observed to encourage innovation in the developed economies. On the other hand, it is likely to create negative impacts on the dependent developing economies due to the effect of globalization and international trade relations.
My compensation plan is about giving bonuses to employees who complete a specific number of years with the company. This may be called longevity bonus and it aims to encourage employees to serve the company for as long as they can so that they stand legible for this compensation.
The existing US federal laws which deal with the employers and the employees relationship is in fact a product of late 30s. The legislative body of the US played a vital role in raising the minimum wage
The author of the paper suggests that the other purpose of the law, at least explicitly and directly, was to make sure that the country’s watersheds were protected from being eroded, as well as from becoming flooded, with the protected trees providing the needed brake to such environmental effects.
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