Total compensation methods essay

Max Gerber] I am often asked whether I agree with the new group selectionists, and the questioners are always surprised when I say I do not. After all, group selection sounds like a reasonable extension of evolutionary theory and a plausible explanation of the social nature of humans. Also, the group selectionists tend to declare victory, and write as if their theory has already superseded a narrow, reductionist dogma that selection acts only at the level of genes.

Total compensation methods essay

Get Full Essay Get access to this section to get all help you need with your essay and educational issues. Total Compensation Methods Essay Sample Introduction The compensation strategy of any organization, business, educational, governmental or social plays a pivotal role in its overall strategic management.

It is an important causal factor of the effectiveness of the organization in its area of work and a significant item of cost. Compensation to employees is the domain of the human resource function it intrudes into every operational and strategic realm in the management of enterprises and organizations.

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Compensation strategies and methods primarily look towards recompensing employees for the effort and time they devote towards the functioning of an organization and the furthering of its objectives.

However, the issue goes deeper than this and takes account of fairness, effectiveness, hierarchy, seniority and the satisfaction of an employee. It is also closely linked to the costs of living of a particular area.

Compensation differs greatly in different areas of the world, the dollar amount of wages in the developed countries are many times Total compensation methods essay than in the low cost economies of Asia and Africa.

This is the primary causal factor behind the big shift of base manufacturing and low-end service activity from Europe and North America to China and to a certain extent to Africa and the Indian subcontinent.

Fairness and Equity Compensation methods are the primary tools for organizations to attract and retain talent. The compensation methods and strategy of an organization have to continuously struggle with concepts of supply and demand positions of labor, fairness and equity and performance, motivation and reward.

Fairness and equity demands that all employees engaged in the same occupation must necessarily be paid the same remuneration. Actual experience however shows that motivation and reward lead to increased output, better quality of work and overall performance. Managers of commercial and other organizations have to thus continuously struggle between concepts of fairness to individuals and what is beneficial for the organization, yet is fair to employees.

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Historically, labor has been looked upon as a commodity and supply and demand positions have dictated compensation strategy.

You need a stat here to support your ideas A striking example of this is the effect of immigration and greater labor availability on local remuneration practices. For the poorest tenth of the work force the reduction was much larger, 7. Native-born African-Americans and Hispanics were also hard-hit, being in direct competition with immigrant workers.

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Borjas found even college graduates had their earnings lowered by an estimated 3. As such, neo-classical theory states that if demand of labor was higher than the supply price there would be an excess of payments to go to that labor, and by contrast, if the demand price of labor were to be less than supply, the supply of the labor would run out.

Total compensation methods essay

However, current interdisciplinary thinking has certainly veered away from this and views labor as more than a commodity. The treatment of labor as only a commodity results in problems of motivation, self-esteem and organizational loyalty.

Organizations suffer from higher turnover in employees and quality while on-the-job. The concept of equal pay for equal work in comparison to the supply and demand theory centers on the concept of workers being paid equally for work done irrespective of their working place. Employers in the US have wrestled for long trying to marry the concepts of supply and demand with equal pay for equal work.

Motivation and Performance Human resource management objectives are concerned about implementing compensation methods. Hard methods drive employees to carry out strategy through sternly administered policies in comparison to those adopted by softer organizations where employees are nurtured as important assets, not commodities.

The answer lies in a skillful mixture of hard and soft policies, a blend of the theories of supply and demand and equal pay for equal work. The issue of employee motivation and reward for excellence in performance also plays a very important part in compensation methods. To be effective, remuneration systems should be based on sound understanding of the motivation of people at work.

However, this has proved to be an extremely complex topic, and very often reward systems used by employers have been based on simplistic motivation theories and they have failed Bowey, Theories of motivation are being studied for many years now and have been influenced by prevailing management ideologies and philosophies.Total Compensation Methods Essay Total Compensation Methods Total Compensation Methods Analyzes the effect of benefit programs on employees and organizations The distinction between compensation methods and benefits is that benefits extend beyond the basic compensation of time and services rendered.

Benefits are either the result of. I felt like a burden.

Total compensation methods essay

Then I discovered John Stuart Mill and Milton Friedman and they said “People deserve to determine the course of their own lives” and “you own yourself” and stuff like that and I started entertaining the idea that I deserved to live, by virtue of being human.

Total Compensation Methods Paper Total Compensation Methods Paper In all businesses, a company needs to make sure that their turnover ratio is maintained while, at . Total Compensation Methods Paper Free Essay, Term Paper and Book Report Total Compensation Methods Paper In today's competitive and global marketplace, employee benefit programs of all kinds have emerged as essential tools used by companies, in every industry sector, to attract productive employees by offering incentives to retain these key contributors.

Total Compensation Methods Compensation is widely considered as a primary source of motivation for the employees within an lausannecongress2018.com most scenarios people look for jobs which not only suite their creativity and talents but those which compensate them in terms of salary and benefits.

THE FALSE ALLURE OF GROUP SELECTION. Human beings live in groups, are affected by the fortunes of their groups, and sometimes make sacrifices that benefit their groups.

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