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You have learned that employee compensation can be an effective tool to improve employee performance, motivation, and satisfaction. When direct compensation is ineffective, organizations face higher turnover, greater absenteeism, poor performance, and job dissatisfaction. Some companies offer variable pay, incentivizing employees to reach peak performance, while others share company profits through employee stock ownership plans hoping to inspire loyalty through ownership in the company. you also learned about the role of indirect compensation, i.e., employee benefits and services and the value they provide to employees. Legally required benefits, such as The Canada Pension Plan (CPP), Employment Insurance (EI), and Workers' Compensation were discussed, as well as voluntary benefits, such as life and disability insurance. Explain and contrast the Total Reward Model (TRM) to the direct compensation approach. What advantages does the TRM have over its predecessor? COVID-19 has significantly impacted many compensation systems, including Employment Insurance in Canada with the Canada Emergency Response Benefit (CERB). Describe this benefit including identifying who is eligible to apply. Do you feel compensation is adequate for those eligible? Why or why not?
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Financial services provider Standard Chartered is in the business of hard data. So it's no surprise that HR turned to facts and figures when it revamped the bank's talent management activities.
Construct a comprehensive research paper on a compensation system that you consider fair and equitable. Use critical thinking to discuss issues from two perspectives: the employee and the employer. Critically interrogate your own concepts about co..
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Discuss how these trends will affect the role of human resources, including the typical human resource functions such as recruitment, compensation.
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