Total Compensation Methods Paper
University of Phoenix
Most earnings methods are a design by the brass section to affect positively the diffuse line of the vexation. Some methods yield quick change as markets, products, and services change. The earnings methods neediness to provide strong, measurable benefits to the organization and assist in achieving its time to come goals.
An organization is constantly evaluating the impact of the compensation methods on employee performance. This ensures that the political platforms are developing the desired results and if not, what changes need to foreshorten place. The methods need to be flexible enough to change with the application and as business grows. In addition, the compensation methods need to be competitive to make sure the organization can pull out and retain the kind of talent needed to achieve the goals for the organization.
Laws are been established to mandate certain compensation methods, which are required for all employers. Employers are required to take equal employment opportunities, minimum wage, and overtime pay. Child labour laws restrict employers from placing employed minors in hazardous situations. fag out laws also prevent employers from hiring children under the age of 14, unless it is a family business (Noe, Hollenbeck, Gerhart, & Wright, 2004).
The Family and Medical repudiate Act ensures qualified workers up to 12 weeks a year of unpaid leave to pay heed to certain family needs and medical issues.
Social protective cover and unemployment insurance are also mandated compensations. Unlike the Family and Medical Leave Act, expenses related to hearty security directly affect the bottom line of an organization. Every pay period a theatrical role of an employees income are redirected to social security. Employers are required to match employees contributions to social security (Noe, et. al. 2004).
Unemployment insurance is a program that eases the impact and assists in job placement, when a person...
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