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BusinessIt is difficult to know when offering benefits will help a firm be more competitive in its market. This is because offering benefits both helps a firm and harms it. Benefits can help a firm by...
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BusinessIn order to answer this question, you need to be sure that you understand what Herzberg is and is not saying. While Herzberg is saying that pay is not a motivator, that does not mean that he is...
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BusinessIt definitely makes sense to give workers merit raises so long as the system for deciding who deserves a raise is fair. Giving workers merit raises is a really good idea for at least two reasons....
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Employee CompensationOne of the major reasons to reward employees is to motivate them to continue to perform well or to perform even better. In other words, rewards are not just about recognizing what employees have...
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BusinessThe components of a compensation program can be direct or indirect. To some degree, they can even be non-monetary. Let us look at typical aspects of a compensation program. The most obvious and...
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BusinessFirst off, if your employees do not believe what you are telling them about pay structures, there is something fundamentally wrong with your relationship with those particular employees. Something...
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Social SciencesAccording to economic theory, wage discrimination is less likely to occur in a market that is competitive. There are two ways to see why this is so. First, if the market for labor is competitive,...
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BusinessThe major challenge that firms face when trying to create international compensation programs is the challenge of creating systems that seem fair and equitable to all involved. This can be very...
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BusinessPay for Performance can be a great motivator, as long as the program is respectfully administered. Performance pay in business is often one of two models. One: The individual worker is paid...
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Employee CompensationSales compensation programs general work on a combination of straight salary and commissions and bonuses. The exact program will generally vary based on the type of firm and on the goals that the...
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Employee CompensationMerit pay systems work differently in different specific companies, but the basic idea of merit pay is the same in all companies. The general idea of merit pay is that employers identify certain...
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BusinessDisparate impact is best understood in contrast to disparate treatment. Disparate treatment is, in essence, intentional discrimination. In the context of compensation, it occurs when a firm (for...
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BusinessThe major reason for this is that executive performance must be measured in a way that is very different from the way that employee performance is measured. It would not make sense to pay...
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BusinessIn a multinational corporation, managers will be sent to many different countries. Different countries will have different costs of living. For example, by one reckoning at least, the cost of...
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Employee CompensationThe answer to this depends to some degree on the type of job in question. However, we can make some general observations that apply to most American jobs. The major global issue that affects...
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Employee CompensationThe Fair Labor Standards Actis one of the most important laws governing compensation in the US. It is critical that every company operating in the United States be familiar with it. Wage structure...
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Employee CompensationCompensation systems are those systems in which employees of organizations are given rewards by the organization for their efforts on its behalf. There can be financial and nonfinancial types of...
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Employee CompensationThe most important reason for the variation in compensation between positions and between professions is supply and demand. In a free market economy such as ours, wages, like most prices, are...
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Employee CompensationI assume that this question refers to the wages paid to coaches of state schools. It would not make sense if it referred, for example, to NFL coaches. I will base my answer on this assumption....
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Employee CompensationThe appropriate method of compensation would be different for these two types of workers because they do very different kinds of jobs. The ways in which they work, and the ways in which their work...
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Employee CompensationThere are many issues that will help to define this future. Let us look at two. One will be the growing pressures from globalization. These pressures will force compensation professionals to be...
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BusinessCompensating host country nationals as a multinational or foreign organization is dependent on a lot of factors. While organizations have to adhere to the local labour laws and policies, they...