Compensation and benefit programs essay

Total Compensation Methods and Benefits Programs Impact on employees and organizations Salary and benefit administration strategies Relationship with organizational culture and performance Total compensation methods used by the organizations are different in terms of their design and approach. The main objective of the compensation programs developed in organizations is to facilitate employee motivation and provide a cost effective reward system that is beneficial for both employees as well as the business.

Compensation and benefit programs essay

Total Compensation Methods and Benefits Programs Impact on employees and organizations Salary and benefit administration strategies Relationship with organizational culture and performance Total compensation methods used by the organizations are different in terms of their design and approach. The main objective of the compensation programs developed in organizations is to facilitate employee motivation and provide a cost effective reward system that is beneficial for both employees as well as the business.

The business objectives, values, and goals are the basic element of compensation methods adopted in an organization. The total compensation strategy adopted by a business also elaborates the approach adopted by the business to offer benefits for its employees in return to their services.

Compensation and benefit programs essay

The following sections provide a detailed understanding of total compensation methods and benefits programs and their impacts on employees and organizations.

The second most important element addressed in the research is concerning the administration of the programs and its relationship with the organizational culture and performance.

Total Compensation methods and benefits programs: The organizations develop a number of programs for compensating employees. The amount spent on compensation of employees can be managed through a policy for human resources in order to facilitate the organizational growth and achievement of objectives.

According to Mathis, and Jackson the total compensation is method adopted by the organizations to provide monitory and nonmonetary rewards. The total rewards facilitate the business to attract, motivate, and retain employees.

There are various issues that should be considered before designing a total reward program including legal obligations, cost-effectiveness, and performance enhancement for employees. The organizations also have to consider internal, external, and individual equity of employees.

The number of philosophies used to design the total compensation and benefits programs. Two distinct paradigms prevail in the organizations to for designing the total compensation rewards and benefits. The entitlement-based programs and performance-based programs. The entitlement-based programs are based on the following criterion.

These techniques are seniority-based compensation, across the board raise, pay scale increase, industry related compensation, bonuses given to employees. The performance-based programs does not entitle employees for any raise due to the period in employment.

It contains no raise for poor performing employees. The performance-based structures also includes a market adjusted pay structures and the pay raise is linked to the achievement of performance targets.

The performance-based compensation is measured through various techniques.Effective Employee Benefit and Compensation Program Words Jan 15th, 7 Pages Work force planning is a similar human resource tool that facilitates an organization long term accomplishment and sustainability.

Compensation and benefit programs essay

Compensation managers plan, develop, and oversee programs to determine how much an organization pays its employees and how employees are paid. Benefits managers plan, direct, and coordinate retirement plans, health insurance, and other benefits that an organization offers its timberdesignmag.com-the-job training: None.

A strategic plan for employee compensation determines how much you want to pay employees and what type of employees you want to attract. Your compensation plan entails a variety of aspects including pay scales, reward programs, benefits packages and company perks.

Benefit Programs and Compensation Administration Essay Sample. Employee benefits are one of the most driving measures for obtaining qualified employees. Benefit Programs and Compensation Administration Essay Sample.

Employee benefits are one of the most driving measures for obtaining qualified employees. Oct 17,  · Apprenticeship Training, Attendance, Business Expenses, Compensation Administration, Consumer Price Index, Contingent Workers, Credit Unions, Employment Contracts.

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