This website uses cookies to ensure you have the best experience. Learn more

Compensation Management Essay

1922 words - 8 pages

Compensation Management
HR 434
“Conducting Job Evaluations”
Carmen Campbell
Professor David Gebhardt

My position pays what? How does my job rank among other jobs in the area? Responsibilities which encompass a job determines compensation, from which, a company will pay an employee’s for their time, skills or services used to complete assigned work. Job evaluation consists of factors which describe the responsibilities required of a particular job and the value the company has assigned to factors the employee accomplishes. As an employer and an employee understanding the factors associated with job evaluation are important to determine if the responsibilities and pay ...view middle of the document...

Ability refers to how an employee uses knowledge and experience to complete assigned responsibilities. Formalized education, company web-based training or on-the-job-training are ways to obtain knowledge required to fulfill required responsibilities. In regards to Job Evaluation, the minimum education required from the employer to fulfill the job indicates should be listed as a requirement. A company can also use training as a molding technique for an individual to further qualify for a job. The armed services, police academies, Federal Bureau of Investigation and other institutions use mental and/or physical challenge(s) to stress out applicants through job related experiences while at the same time training applicant’s skills required to be successful in the performance of the applied for job. Job evaluation uses skills to distinguish different internal levels of responsibilities/job within a company and verifies the jobs correlate or is competitive with the industry standards within the region. Skills refer to an ability to accomplish a job, while effort describes the energy required to perform the job.
Effort refers to the exertion the employee must expend to complete assigned duties. Effort involves mental, physical or both activities. An activity that requires intense physical activity would need applicants that are physically qualified to perform assigned jobs. Firemen require both physical and mental endurance. Activities such as climbing ladders, forcibly entering domiciles, rescuing victims, while at the same time determining who should be saved first, checking their partners safety and figuring out how to best maneuver the path in front and behind them could be a little bit too stressful for some but the precise fit for others. (Fire Career Assistance, 2004). A job evaluation helps employees and employers understand where the employees stress is to be expected and the associated compensation for responsibilities performed for the job selected. Mental, physical endurance or both are factors which employees need to understand and job evaluation must take time to fully describe the expected position responsibilities.
Responsibility describes what an employer expects an employee to be accountable in performance of his or her job. This factor measures what the employee is responsible to accomplish, the level of responsibility to others, employee interaction with business associates within and outside the company, freedom to make decisions, scope and effect of decisions made, breadth of responsibility. (University of Guelph, 2012). Although Penn State did not knowingly or unknowingly support Jerry Sandusky’s sexual assaults on young boys the University eventually took responsibility their former assistant coaches actions. Penn State held the infamous head coach Joe Paterno, the schools president, athletic director and finance official responsible for withholding or not disclosing “rumors” heard about Sandusky. ...

Other Papers Like Compensation Management

Executive Compensation Essay

1788 words - 8 pages Case Report on Executive Compensation In the modern society, chief executive officer has become the most important part to many companies especially to the publicly listed corporations. They generally make a significant contribution to the profitability of their firm. However, in some case the managers’ interests conflict with their companies’, and thus their decisions may probably do not maximize their companies’ value. Therefore, it is a

Executive Compensation Essay

2530 words - 11 pages rationalism. During the years of the crisis, regulators observed that high executive pay led to massive management failures and bankruptcy of big wall street companies or at least did not prevent the companies from failing. Then they recognised that this high paying culture was still continuing, which brought them to the conclusion that the rules for executive compensation had to be much stricter. That change in information inquiry ultimately led to the

Compensation Research

2158 words - 9 pages and a higher commitment to company objectives (Barkman, 2002). By encouraging skill based training across an entire team, a production environment can minimize the downtime from absenteeism, by shifting job responsibilities to other cross trained employees. Plus, paired with strong management support a skill based compensation plan can establish a culture focused on employee development and raise staff engagement. Difficulties in establishing a

Compensation Paper

1311 words - 6 pages Compensation and Benefit Strategy of an Organization DeVry University Nov 7, 2013 This paper is to identify the challenges in the compensation and benefits system within an organization. This system is meant to attract potential candidates to an organization that are looking for individual that meets their qualifications. However, there are changes being made in our society, with competitive advantage, and it is getting complicated for

Wgu-Rwt1 Compensation Report

2147 words - 9 pages recommendation would be to offer piece rate style bonuses monthly. Management would need to decide on the appropriate guidelines for the desired production rate and all employees that hit those goals at the end of the month will receive the incentive pay. By offering these bonuses we are encouraging production, and by not using piece rate pay as the main form of compensation we should not encounter resistance from our employees. Conclusion

Assignment 2: Compensation Plan Outline

301 words - 2 pages approaches. * Compare and contrast internally consistent and market-competitive compensation systems. * Evaluate the role of benefits in strategic compensation. * Use technology and information resources to research issues in compensation management. * Write clearly and concisely about compensation management using proper writing mechanics.

Hrm And Eeo

1584 words - 7 pages others may be directed to one over the other. In addition to these factors, the organization must also keep the regulations of Equal Employment Opportunity in mind as well to ensure they are not breaking any laws. In the end, the organization will select the applicant that best meets the identified characteristics it is looking for. Another important function to human resource management is compensation. Compensation is the human resource

Using Eva To Align Management Incentives With Shareholders’ Interests

594 words - 3 pages Using EVA to Align Management Incentives with Shareholders’ Interests Incentive Compensation: The Need and the Challenge The objective of most incentive compensation programs is to address the ‘agency’ problems that besiege public companies. Specifically, public firms that hire professional management experience a natural separation between those that own the firm (the “principals”, i.e., shareholders) and those that manage the firm (the


1841 words - 8 pages 52.204-10  Reporting Executive Compensation and First-Tier Subcontract Awards. As prescribed in 4.1403(a), insert the following clause: Reporting Executive Compensation and First-Tier Subcontract Awards (Jul 2010) (a) Definitions. As used in this clause: “Executive” means officers, managing partners, or any other employees in management positions. “First-tier subcontract” means a subcontract awarded directly by a Contractor to

Corporate Governance

487 words - 2 pages committee The compensation committee forms the compensation plans and incentive pays. They are often given the role of developing leadership development programs for the management and the employees. 3) Risk Committee I would also have a risk committee to analyze and evaluate the decisions of the company. It would be their duty to see whether a decision taken by the management will be worth the risk or not.

Accounting Excercises

1122 words - 5 pages EXERCISES 8-31 The scientific management view of motivation sees employees as the vehicles by which management’s goals can be accomplished. People were thought of as simply means to an end, and management treated them almost like machines by timing their actions and trying to make them work more and more efficiently. The human relations school understood that employees wanted much more from work, including respect, autonomy, and satisfaction

Related Essays

Asr Management Compensation Contracts A Problem

425 words - 2 pages Although the Conceptual Framework views the primary use of accounting numbers as decision making, we still see accounting measures used in contracts for management compensation. why do you think that companies use accounting numbers in management compensation contracts? (4 marks) The conceptual framework is a set of interrelated concepts that define the nature, purpose and broad content of the general-purpose financial report that

Compensation Essay

953 words - 4 pages established for all levels of the organizations. Too often compensation plans stop at executive levels of management or bend easily. Without a system for determining raises and bonuses at every level, it is too easy to make decisions which break internal consistency. This opens a company to pay compression problems and possible lawsuits. 3. Align Pay With Company Goals At an individual or company level, compensation sends a very strong message

Compensation Essay

1591 words - 7 pages that affects Canadian companies operating in the US • Provides another reason to measure HR performance. • Under the legislation, disclosure requirements include: requirements include: • Executive compensation • Pension plans • Whistleblower protection - These requirements bring about pressure for measuring HR Reasons for Measuring HRM Effectiveness 1. Labour costs are most often a firm’s largest controllable cost. 2. Managers

Exec Compensation Essay

1505 words - 7 pages raised as to how much compensation was adequate and the corresponding effects on the organization. The Board of Directors of many organizations is under direct scrutiny for their role in determining executive compensation policies. In theory, through the electoral process of public companies, shareholder interests should perfectly align with management, although this is not always the case. Shareholders elect the Board of Directors, who in