How can labor costs be managed

Reference no: EM1332875

Executive Compensation/Managing Labor Costs

1-In 2008, Pratt estimated that executives received more than 360 times the pay of the average worker (as cited in Milkovich, Newman, & Gerhart, 2011). What are the components of executive compensation? Why is there concern about executive pay today? I'm sure you've heard President Obama's stance on this subject. I look forward to hearing your perspectives.

2-Compensation programs are managed to assure that the total compensation is aligned with organizational goals and strategies. There are the right number of employees with the correct skill sets, and they are paid at the appropriate level and within a budget that is affordable to the organization. How can labor costs be managed? What tools are available to HR?

Reference no: EM1332875

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