From this interview and assignment I discovered that individuals that compensation specialist requires a great deal of experience, knowledge and skill. The compensation specialist that I met with had over 15 years of experience, as well as her Master’s degree in business administration. In addition, there seems to be a need for detailed understanding of the legal ramifications in respect to compensation based upon department of labor standards, as well as a great deal of knowledge of the average pay that is received by individuals within a variety of different occupations within healthcare
In 2001, the Army came to the consensus to add career counselors (MOS 79S) as recipients to receive Special Duty Assignment Pay (SDAP). The SDAP payment for a Career Counselor was originally set at $300. Due to the unusual high degree of responsibility and demand, the position requires of the Soldier. Career counselors received SDAP because they execute binding contracts on behalf of the US government. This includes the severity and importance of their daily duties, led to the proposal and endorsement. The only other Military Occupation Specialty (MOS) that writes binding contracts, are Recruiters (MOS 79R). In 2013, Department of the Army (DA) arrived at the conclusion to the terminate payments of SDAP for career counselors. By eliminating career counselor SDAP, it resulted in a savings of $2.8 a year. However, 79Rs, continued
This project combines pay services from participating departments and agencies at the Public Service Pay Centre in Miramichi, New Brunswick. Compensation advisors in departments were given the option to move to Miramichi, but most did not. Many new staff were hired and trained for the Centre. There are some organizations like CRA and CBSA that are being serviced by their own internal departmental compensation advisors instead of those in Miramichi, but are still using the Phoenix system.
The negotiations were successful! An agreement was reached and I got the job! This success was due in large part to the extensive planning prior to the negotiation with Robust Routers. Planning is critical to a successful outcome when negotiating (Lewicki, Saunders & Barry, 2011). This was especially true in negotiating this job offer as the bargaining mix included items as varied as state of residence, salary and even stock options. Also of great benefit was that both sides realized that the while the outcome was important the relationship would be protected and even strengthened as a result of our collaborative negotiation (Lewicki, Saunders & Barry, 2011).
Compensation is made of a base salary (paid by the hour, work or the year; excluding overtime or bonuses), variable pay (bonuses, profit sharing/stock options which work hand and hand with the performance of the company), and benefits (to include health insurance/savings plans – 401(k), or tuition reimbursement). The traditional way of determining base pay for jobs was to compare jobs in the same industry. Now industry and market, no long work by themselves, the current thinking is more person-based that considers knowledge, skills, and competencies of the work. This, however, is best suited for high-performing environments that remain flexible in their deployment of human capital.
Introduction What does it mean to be an effective supervisor? Before taking this class, I thought that if a supervisor is able get their employees to work effectively, and efficiently, then the person is an effective supervisor. I didn’t realize until taking this class that supervisors do so much more. After learning more about the other tasks supervisors do like planning, being effective listeners, and motivating employees, I have a better understanding of effective supervision. I am aware that I have had supervisory experiences.
Compensation will play a role in The Fit Stop because of its long hours, need for some skilled workers, and because all of the employees are full-time. Determine the Compensation Mix: The Fit Stop employs three different levels of employees: manager, physiotherapist/kinesiologist, and salespeople. Because each of these different positions requires a different level of education and experience, it is assumed that these positions will also come with different compensation options. Base pay will differ between the three levels of employees, beginning with the managers receiving the highest level of base pay (due to their higher level of education/experience) and salespeople receiving the lowest level of base pay. The physiotherapist and the kinesiologist will receive base pay somewhere in between.
A certified medical biller is one who passes the Certified Medical Reimbursement Specialist Exam and because of the certification, they are greatly sought after. Medical billing presents the chance for a well-organized, task-oriented individual to use her eye for specificity in a crucial role within the health care industry. A biller with a good sense of self-concept can communicate effectively because they are confident in themselves, they can accurately rea...
In April 2010, KK BB, the CEO of Marshall & Gordon, a leading public relations firm met with the firm’s leadership committee off-site in Miami. This off-site brought together Marshall & Gordon’s executive committee, practice and regional heads, and senior HR officers to discuss on redesigning the firm’s compensation system. A global advisory taskforce, under the direction of an external consulting firm, had spent three months collecting and analyzing data. Marshall & Gordon hired external specialists to design the new performance management program. The specialists proposed that the senior managers and human resource form a global advisory unit together with Marshall & Gordon partner to represent the firm’s five regions of the firm and lead the design process. The advisory unit surveyed all consultants in February in order to understand their way of thinking about the fairness, worth, and effect of the current performance management system. Majority of the interviewees responded to the corporate surveys implying that the subject was topic was especially exciting to them. Interviews gave insights on present and prospective business plans and direction. The survey also showed that specific focus across certain employee populations should be given. Six current hires from key competitors were also interviewed to comprehend competitor pay practices and compensation program structures. Further focus groups discussions and key information interviews enabled the taskforce’s to understand the needs of certain groups within Marshall & Gordon’s worker population. The survey culminated with the taskforce conducting interviews of 20 partners and principals togeth...
The company Steel Co, which has been established for around 30 years, has been in a steady decline during the current recession and although a Divisional Director has been employed by the owner the fortunes of the company have not improved. The staff is unhappy, unproductive and unimpressed by the Human Resource system that currently exists in the company. The pay structure that currently exists within the organisation has been much debated among employees who feel it is unsatisfactory. The Business Adviser will research Performance and Reward management tools in order to help the company develop a more suitable Performance and Reward system to use. A variety of sources will be used in order to evaluate the system and tools against other organisational frameworks. The pay structure within the company will also be looked at in order to identify any possible changes that could be made.
Adventist Health System employs 82,000 employees in an wide range of variety settings, therefore they offer competitive compensation packages. They compensation packages start with the mission statement of the organization “Extending the Healing ministry of Christ,” in this organization employees have the opportunity to grow spiritually in a faith based organization. Adventist Health System offer market driven wages, yearly bonuses based patient satisfaction surveys, cost of living adjustment, financial assistance for those who are in need, ability to buy food with work ID, and pay on the next paycheck. They also offer professional career development opportunities, they have on the job training, where you could get job promotions with time and performance, and they also have a university called Adventist University, they provide tuition assistance for their university or other universities, and guarantees the employee a job within graduation. Adventist Health System
Employee compensation and reward systems have undergone a couple of paradigm shifts since inception. Reward systems were traditionally compensation based and focused on the individual or the position (Beam 1995). After a recession in the early 1980's, employers turned to performance based models in an attempt to save money while still rewarding top performers (Applebaum & Shapiro, 1992). Today, the most successful organizations are using a total reward model, a hybrid of the performance based model combined with strategic human resource management planning to create reward systems that both benefit the employee and help organizations realize their operational goals (Chen & Hsieh, 2006).
Attracting and retaining the most talented employees is essential for long-term organizational success. An important component to attracting and retaining such employees is the design and implementation of an effective compensation and benefit system. Assuming the role of a highly regarded human resource consultant hired to review, analyze, and revise the compensation and benefit system utilized by my city’s largest employer, Holland Enterprises, this paper presents a revised compensation and benefit strategy that suits the firm. This proposal describes how an effective compensation and benefit system could contribute to organizational effectiveness in the firm, the principle components of the revised compensation and benefit system for the
Job satisfaction includes challenging work, interesting job assignments, equitable rewards, competent supervision, and rewarding careers. The quality of work life and psychological rewards from employment are very important. It is doubtful, however, whether many of us would continue working were it not for the money we earn. This paper establishes the definition of compensation, overview of compensation philosophy, critical components of a compensation strategy, and an example of an effective compensation practice. (www.indiana.edu/~busx420/Book.../chap09.doc)
Organizations are working hard in today’s world of business, not only to remain competitive, but also to focus on stability and structure. Employees are the backbone of an organization. It is becoming more important to offer quality HRM programs to staff, in order to support the retention of trained and experienced staff. Employees have always been concerned with salary however, there is a new focus emerging that looks at compensation as a whole entity. Monetary wages are now just as important as other benefits such as paid time off, medical and dental offerings and retirement. This paper will discuss the importance of the total compensation program which includes many aspects, not just salary. Attention must be paid to equal pay, pay
clothing needed to be marked down and I was told how to use the system