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Corporate Compliance Benchmarking - Essay Example

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Summary to essay on topic "Corporate Compliance Benchmarking"
A. Recent years, Toyota has problems with compensation and insensitive pay for plant workers and minority employees. Many of the benefits for which employees have been working toward for years have now become a part of federal legislation. This does not mean that all is well in the plant or office between management and labor…
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Download file "Corporate Compliance Benchmarking" to see previous pages... B. In order to solve the problem, Toyota introduced new programs for minority employees and plant workers working with old equipment. Under this new arrangement, both the employees and Toyota benefited. The employees received flexible bonus incentives and were able to earn more than they did under previous pay scale (Toyota Home Page 2008).
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. Toyota, on the other hand, quit losing an estimated $5 million per year on the plant and has a new source from which to purchase roller bearings and help keep the other competitors' prices in line. All workers were proposed additional training in order to meet new standards and requirements. The advantage of this strategy is that Toyota focuses on employees' needs rather than organizational objectives (Kennedy-Glans and Schulz 2005).
C. It took time to train minority workers and replaced old equipment in some plants, but this strategy allowed Toyota improved productivity and develop positive climate and morale. Employees felt they were valued by the company, and motivated by fair compensation. These tactics have been applied by top management equally against factory workers and middle management white collar workers. Today, companies strategy assist in making the business case and fixing the reward package. To operate without major disruptions, Toyota must be in compliance with legal requirements, international, federal, state, and local (Kennedy-Glans and Schulz 2005).
A. Ford was accused in unfair policies applied to women's compensation and benefits. A successful reward strategy encompasses much more than the compensation package, although that may be the key practical element in ensuring that the appointee, partner and family set off on the assignment with confidence and in a positive frame and is focused strongly on helping partners to resolve dual-career issues. The granting of staff status has been put into effect by a few progressive firms. Effective arguments supporting the issue appear to be pleas or threats to management that if they do not take appropriate action, then the federal government will step in and do it for them through some form of a new legislation. They also argue that business can either pay women an adequate wage or pay instead through welfare programs (Ford Home Page 2008).
B. In order to solve the problem, Ford evaluated her abilities and education and came to conclusion that the African-American woman received low compensation because she lacked necessary skills and education for the position she occupied. In order to overcome such problems is future, Ford introduced infringed benefits for production workers (Ford Home Page 2008). The reality is that companies tend to have greater income security because performance evaluations usually are a rather modest determinant of their total compensation package. Also, Ford executives give much of the credit to the blue-collar worker and management and union leadership willingness to listen to them and to work with them in increasing productivity.
C. As a result, the company improved its image and avoided legal responsibility. Also, the company introduced special benefits for women (and mothers in particular) including direct benefits: sick pay and ...Download file "Corporate Compliance Benchmarking" to see next pagesRead More
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