Essays on Compensations

The essay is based on the studies of McIntosh, Wise, Shams, DiAngelo, Graham, and Dyson. According to the studies of these authors, privilege is considered as a communal theory which states that exceptional rights or compensations are obtainable only to a group of people. Furthermore, privilege is regularly used in the framework of social inequity, mainly in regard to ethnic, gender, and racial category. 1. White Privilege According to authors, the practices that make white privilege is that the political sector including healthcare organizations and school gives more source of pride to the Native Americans. The authors in their ...

Abstract

The risk management approach refers to the techniques, processes tools and the team roles and responsibilities that are employed on a general scale or on specific issues to help address issues such as loss of lives, destruction of property, financial losses and any other relate losses. This essay compares the organizational approaches between private entities as represented by BP and the public entities as represented by Minnesota State’s Department of Administration. The risk management by the State government of Minnesota is operated through its insurance program as well as the programs that cover the safety of the state’ ...

Compensation is the payment offered by an employer to an employee in exchange of the services received from him. Mostly compensation is monetary but it may include certain non monetary facilities such as housing, conveyance, insurance etc. Compensation is further divided into two general types: Direct and Indirect compensation. Direct compensation includes base wage, incentives, bonus, leave encashment etc. while indirect compensation is designed to provide additional benefits such as social security, health insurance etc and does not vary with performance. Designing a compensation plan that is satisfactory to all is a major challenge for the Human Resource Management ...

Business Plan

Business Plan

Executive Summary

A business plan is a particular statement that contains the goals of a business and the way of attainment of these goals. The paper presents a business plan that employs a business strategy in defining the business’s overall goals, management team, staffing of the organization and other factors. This plan ideally presents my idea of establishing a new business venture in the field of health care. Initially, the paper presents a well-detailed description of the business that is to be established. This includes defining the overall objectives of the business the particular products that the business ...

With no doubt, management system is one of the crucial determinants of a company’s successful performance. One of the main issues in every company is to balance different, and often converse, interests of all stockholders: owners, employees, customers and suppliers. Actually, the aim of a company is to increase its value, i.e. increase the wealth of shareholders. However, this crucial to understand, that the way to high profits is built not by shareholders only: with no motivated workers, fair suppliers, and finally, with no satisfied and loyal customers, the successful activity is impossible. Moreover, these elements are interconnected, ...

Compensation strategy of an organization plays a pivotal role in determining the success of the company. Moreover, the compensation strategy of a healthcare organization forms the basis of achievement of the overall organization. Compensation includes monetary and non-monetary constituents such as basic salary, health insurance, retirement plans, and performance bonuses. An effective compensation strategy of an organization can make it successful and place it in a better position in the competitive market. Operating budgets of healthcare organization highly depend on total compensations such as cash compensation and other benefits. Human Resources (HR) play a critical role in designing compensation ...

Compensation increases must be determined by a workable and properly designed work performance management system. All employees of CORE must have their work appraisals to understand their contribution to the success of the business. The appraisal system will be used to rank and rate every employee, and it is that system that the compensations for the employees will be based on every end of the year to determine salary increases, bonuses and other incentives like training and promotion. This paper examines the current compensation status of CORE and from that develops a plan to manage the arbitrary compensation increases ...

Performance and Compensation Management

Over the years, World Bank has been termed to be one of the most competent organizations all over the world. It can be viewed as a cooperative with up to 189 countries members. These stakeholders are then represented by a Board of Governors who happens to be the crucial legislators. Normally, the members of the board are countries’ ministers of development or finance. Usually, it is the role of the governors to assign precise obligations to 25 Executive Directors within the organization. This group’s primary objective is to finance developments that improve the economy of the member states. ...

Affiliated Institution

The purpose of this paper is to discuss the compensations strategies that are used by multinational companies for its employees; what are those strategies? Are they fair enough for the entire employees? Does implementing those strategies assist in achieving the organizational and business objectives? We will talk about those issues in details. Before jumping into the types of compensation, we need to take a closer look on the forms of employment by multinationals as it affects the compensation plan of the employee significantly. First of all, there is the Parents Country Nationals (PCNs) who are personnel of the same ...

Abstract

This paper explores various published articles that address employee insurance programs available for employees in an organization, particularly in the United States. The article discusses different aspects life insurance and disability so that when they are evaluated collectively, they create a rational analysis of the subject of the research. Hasman et al. (2004) explain the current employee insurance situation in the country. Martoccio (2010) and Fronstin (2007) provide a detailed discussion of employee benefits. The discussion available in these two sources tends to create several categories of both life insurance and disability insurance, describing how offering such plans may ...

Analysis of an Article about Compensation

Business Analysis of an Article about Compensation Davis, DeBode, and Ketchen (2013) have articulated various management theories that have a bearing on CEO compensation. How much and in what manner to pay a CEO is arguably one of the most important decisions a Board of Directors has to make. The decision would convey strong signals to the external as well as internal environment. Competing firms and the industry would be likely to benchmark the CEO’s compensation to their own. Shareholders would be keen to assess how the CEO compensation translates to a return on their investment in the ...

Role of Ethics in Organization Performance

Introduction The current level of executive compensation has raised critical questions and concerns regarding the ethical considerations and implication of such compensation. This paper aims to explain this ethical aspect of the executive compensation. Also, it outlines some of the individual and government approaches to revise the compensation system. The second section of the paper analyzes the role of Sarbanes-Oxley Act in regulating executive compensation levels. This section explains various measures enacted by the act and assess their nature of strictness in addressing this ethical concern.

Section 1

Primarily, a major ethical concern relates to the high amount of executive salary ...

Implementation of Compensation and Benefit System

Compensation relates to paying someone an amount or in kind in return for work done for you. In an organization, it refers to the sum an employer provides to its employee for doing the work. The compensation is rendered as a result of industry's trends, job description, competition from close substitutes, etc. A compensation package comprises of not only monetary payments but in-kinds also to have a claim on goods and services offered by the firm (Buhl, 1989). These benefits, as well as other non-compensation systems, are used to motivate employees and generate benefits from leveraging their capabilities in ...

IRA

Introduction IRA abbreviation for Individual Retirement Account; these are accounts in financial institutions which allow people to save up for their retirement on a free tax-deferred basis. There are a few different types of IRA which involve traditional, rollover and finally the Roth. But in this paper, we major on the most important ones which are traditional and Roth. Under traditional IRA one makes contributions to the amount of money that one may be able to deduct (Copeland, 371). When we move to Roth IRA one makes contributions in the account with already tax paid hence the money grows ...

Communication Plan in the Training

In an attempt to do an overhaul of the organizational systems, an adequate training plan is required. This makes the ultimate result of the training process to be effectively achieved and thus enhance adequate transfer of knowledge. Very proper channels of communication are required in the bid to make a training plan to be effective (Chasen & Putnam, 2012). The main reason for the establishment of proper communication plans is to ensure that each and every member of the organization reaps the maximum benefits out of the training. Several communication modes can be employed when executing the training plan. First, ...