Ms. Van Michelson I would like to present this organizational proposal to you as the organization is facing 17% net loose in total income and demands to cut the organizations perks from 8 to 5 % so it will be crucial for us to bring an immediate and effective change in the compensation system of organization. We as the HRM team the below changes will prevent us from closing down international offices and will increase the overall revenue in 3 to 5 years. The main aspect of the strategy is that the all the changes that have been mentioned in the organization and the international operations will continue to affect us as a whole until the recession and the economy is recovered. It’s clear that the strategy I will refer best matches to the …show more content…
The organization as a whole will still save almost 2% to 3% as part of their net income that is spent on pleasures and other comforts and if we can increase that savings to 4% to 5% this will greatly impact our net income. Second we must also look at the benefit packages that we offer and we pay a part of. I feel we need to evaluate it and possibly reduce the amount we pay towards the package and also look at all employees whom has a spouse with a job that offers benefits. That if their spouse offers insurance that they will be charge by us to cover them as well We must also take a look at the international employees as well; they will be part affected by this organizational change also. Recession is affecting every nation so the organization must and will make these changes throughout. Remember as we deliver the organization information that it does not matter if the employee is based in the United States or internationally this change will affect all until the organization recovers from the 17% net loss but we must also instill in them that the organization has no intention of laying off during these challenging times but the bi-yearly increases will stop and the yearly raises will be in place with a maximum cap of 5% in take place.
It still will have an effect to employees as they will suffer from not receiving as high of raises and other incentives but it will benefit the organization by not
Was Alexander great or was he a selfish leader? Alexander was a great leader. He was a war leader who took over most of Persia. He was great because he was a inspiring leader, a military genius, and he spread culture.
Alexander gained lots of respect from many people. Although he did become a king at the age of 20, he learned to respect other cultures and have leadership over his army (BGE). Alexander was born in 356 BCE in a kingdom along the edge of northern Greece called Macedonia. His father King Philip and mother Olympia, wanted alexander prepared for his kingship. They resolved this by hiring a philosopher named Aristotle to teach him many academic subjects. Was Alexander great or not great? Alexander was magnificent because he had amazing leadership skills, he made many remarkable achievements, and he had creativity. By these measures Alexander was successful because he took leadership of his troops, he also had remarkable achievements because ruled over an empire at the age of 20, and creativity that kept porous puzzled while making noises to distract Porus’s troop.
A well-articulated compensation philosophy drives organizational success by aligning pay and other rewards with business strategy. It provides the foundation for plan design and administration and anchors current and future plans to the company's culture and values (Kaplan, 2006, p.32). Recognizing and rewarding achievement is the cornerstone of the company A’s compensation philosophy. The mission of the company is to attract, select, place and promote all individuals based on their qualifications. The company believes that performance-based compensation helps attract, develop and retain talented professionals. In addition to base pay which based upon local market conditions and targeted to be above market, the company provides the following types of potential compensation to reward performance:
According to our point of view, this decision will harm to the lowest paid workers and profitable for big businesses. From economic point of view, if there is a cut in employee’s wages then their income will fall and they will spend less, moreover, there is a positive correlation
After reviewing the Wilson Brothers Case Scenario, as Director of Human Resources for the organization, what conclusions can you draw with respect to the status of the company’s compensation strategies that are currently in place? What would you do to begin to address this situation? (3 Marks)
Alexander the Great is hailed, by most historians, as “The Great Conqueror” of the world in the days of ancient Mesopotamia. “Alexander III of Macedon, better known as Alexander the Great, single-handedly changed the nature of the ancient world in little more than a decade. Alexander was born in Pella, the ancient capital of Macedonia in July 356 BCE. His parents were Philip II of Macedon and his wife Olympias. Philip was assassinated in 336 BCE and Alexander inherited a powerful yet volatile kingdom. He quickly dealt with his enemies at home and reasserted Macedonian power within Greece. He then set out to conquer the massive Persian Empire” (Web, BBC History). It is important to note, which will maybe explain his brutal actions, that
This paper will examine setting the stage for strategic compensation and bases for pay. There are three main goals of compensation departments: internal consistency, market competitiveness, and recognition of individual contributions. Internally consistent compensation systems define the relative value of each job among all jobs within a company. (Martocchio, pg. 22, 2011) With this system companies want employees to be paid more based on their qualifications and responsibilities. They believe someone with less experience should be paid differently. To determine such evaluation companies use job analysis in order to provide job descriptions. The job evaluation is to determine pay according to a particular position. Market-competitive
This results in some workers losing their jobs. The majority of these workers will be those who are the least productive.
Increasing the wage for all employees will cost a lot of money for employers. Business will be faced with two decisions, either “raise their prices”, or “simply cut employees or reduce benefits” (Williams). If they choose to raise up prices, then there will be no benefit for the increase of wage. Employees will get an increase in wage, but so is prices of almost everything. And if businesses choose to cut employees and benefits, then the number of unemployment could possibly arise, and the benefits such as paid vacations and PTO, can be easily get demolished.
I, Alexander III, was born the son of a great warrior, King Phillip II of Macedonia and Olympias, daughter of King Neoptolemus I of Epirus. I was born on the 20th of July in 356 BC in Pella Greece. I spent most of my childhood in Pella’s royal court. During my time spent there I hardly ever saw my father because he spent most of his time in military campaigns or with one of his many women. On the other hand, mother, was always there for me, even when I did not ask for her presence.
The financial constraints for the company will increase for the added benefit for having a unified leave reform. The extra financial equity will be supported by substitution of the benefits that is recommended for alterations. The company’s
Reengineering has radically changed corporations: one element of organizational change that is often overlooked is compensation strategies. Most companies still compensate employees the way they did decades ago. However, these pay strategies no longer work in process and team-based cultures. The authors identify four work cultures (functional, process, time-based, and network) and explain how to align pay strategies with each one.
One of the important aspects of business management is having a proper compensation system. Compensation ensures that the staff of the company obtains the results of their efforts. Compensation is a cost to the enterprise and, therefore, a proper remuneration model must demonstrate its ability to produce returns. Also, since compensation is what the employees get in exchange for their services, the type used must be one that will motivate the employees (Belcourt & McBey, 2015). Henderson printing company is a mid-level company. Therefore, it requires a very critical remuneration system that will help it to survive. This memo explores the compensation models that Henderson printing operates as well as suggests the necessary changes.
The underlying issue is the introduction of compensation policies that would support Slastyona’s business strategy of rapid growth. Slastyona is willing to transform factory A into their flagship manufacturing site in Russia and in this region of the world, which would require changes in the compensation and benefits policies that are being applied. Taking into consideration the rapidly changing and complex environment in Russia, it is important pay and HR policies to be implemented that would allow Slastyona to attract, retain and motivate high performing individuals, in order to fulfill its objective to make Factory A state-of-the-art factory. The process of introducing those
The underlying issue is the introduction of compensation policies that would support Slastyona’s business strategy of rapid growth. Slastyona is willing to transform factory A into their flagship manufacturing site in Russia and in this region of the world, which would require changes in the compensation and benefits policies that are being applied. Taking into consideration the rapidly changing and complex environment in Russia, it is important pay and HR policies to be implemented that would allow Slastyona to attract, retain and motivate high performing individuals, in order to fulfill its objective to make Factory A state-of-the-art factory. The process of introducing