Importance of balancing financial and nonfinancial factors

Assignment Help HR Management
Reference no: EM1340743

Compensation Factors

Building a compensation plan can be very difficult to achieve. There are many different options to consider when building the right compensation plan, but clearly understanding what falls under compensation is very important. Compensation is not just the salary you pay your employees, but includes a comprehension of bonus structures and benefits that can be included to entice a person to join or stay with a company.

What is compensation? What is the importance of balancing financial and nonfinancial factors?

 

Reference no: EM1340743

Questions Cloud

What is meant by the term mandated benefit : Mandated Benefits - what is meant by the term mandated benefit and explain government-mandated benefits.
Provide examples of jobs : Provide examples of jobs that you believe rate highly on core job characteristics which could be classified as intrinsic values. Explain.
How do demographic regions play a role : What type of data would be needed to determine an employee's compensation and describe your answer.
Develop to provide incentives for experienced salespeople : How will a compensation plan be developed to provide incentives for experienced salespeople, yet make some provision for trainees who have not yet learned the job?
Importance of balancing financial and nonfinancial factors : Compensation Factors - What is compensation and What is the importance of balancing financial and nonfinancial factors?
Prepare compensation plans : Can companies easily develop compensation plans that are both internally consistent and market competitive?
Unemployment insurance and workers compensation benefits : Some benefits experts claim that unemployment insurance and workers' compensation benefits create a disincentive to work. Why do you think they say this? Do you agree or disagree with this position?
Was medical treatment sufficient : Was medical treatment sufficient and Was the injured employee returned to work in the same or similar job
Sales representatives say about their firm''s products : Explain what sales representatives say about their firm's products and How might you use the compensation system to help change this negative image?

Reviews

Write a Review

HR Management Questions & Answers

  Emerging issues which are critical for hr

Explain What are five emerging issues you think are critical for HR and a company to address and How does HR assess these issues when they are in flux

  Explain strategic challenges facing human resources

Strategic Challenges Facing Human Resources - What do you think is the most significant strategic challenge facing HR today, and why? Use examples to substantiate your response.

  Prepare a quality workforce

Developing and Maintaining a Quality Workforce - Major human resource management responsibilities are; attracting a quality workforce, developing a quality workforce, and maintaining a quality workforce

  When the goal of a headquarters is to integrate closely

When the goal of a headquarters is to integrate closely with a subsidiary, it becomes essential to understand culturally-defined behaviours and values, in addition to local laws and practices.

  Individuals in meeting social and ethical responsibilities

Explain how the human resources function of a medical business uses or might use technology in supporting the organization and individuals in meeting social and ethical responsibilities.

  Analysis of information from the financial perspectives

The balanced scorecard integrates four sets of measurements, complementing traditional financial measures with those driving future performance.

  Effects of hr on leadership and employee commitment

Show the effects of human resources on leadership performance and employee committment, using the components of a theoretical framework.

  Explain what is human resource management

What is human resource management and what is the primary function of human resource management

  The role of hr

The role of HR in the 21 st  century is becoming increasingly vital. A significant claim in support of Strategic Human Resource Management is with regards to its contribution to the firm's competitive advantage

  Various aspects of process consultation

Show the various aspects of process consultation in an organizational development(OD)environment, and relate it to your experience either as a consultant (the change agent) or the client.

  Responsibility to select an ethics officer

Imagine that it's your responsibility to select an ethics officer for your organization and What qualities, background, and experience would you look for

  Question about applicant testing process

Prepare a short essay discussing some of the legal and ethical considerations of major types of test: cognitive abilities, motor and physical abilities, personality and interests, and achievement test.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd