Preview

Assignment 1: Compensation and Benefits

Good Essays
Open Document
Open Document
705 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Assignment 1: Compensation and Benefits
Compensation and Benefits HRMT311 Sect. 841
Assignment 1: Compensation System Comparison between McDonald’s & Walmart Canada
Executive Summary
This assignment compared and contrasted compensation programs of McDonald’s and Walmart Canada. It look at the Philosophy, Base pay, Short term and Long Term cash incentives, indirect compensation benefits and Recognition programs.
The Philosophy of McDonald’s is “Pay for performance” while Walmart promises a lot of career opportunities. McDonald’s compensation program is more suited to encourage young high performance culture. While Walmart rewards more stable employees that will stay with the company for a long term.
Compensation System comparison of McDonald’s Restaurant and Wall-Mart’s (Canada)
Compensation Items McDonald’s Restaurant Wall-Mart(Canada)
Pay and Rewards Philosophy Pay for performance philosophy. The better your results, the greater your pay opportunities.
Culture rewards us. Anything is possible. Career opportunities.
Base Pay Competitive wages. The average starting hourly pay $9.97
Annual salary for Managers and wages for the crew. Competitive wages. The average starting hourly pay $10.55
Annual salary for Managers and wages for the sales associate.
Short Terms Cash Incentives Bonuses based on annual performance review and company strategic performance. Target Incentives Pay.
Bonuses based on annual performance review and company strategic performance.
They always paid bonuses since 1997 even there is a recession.
Long Terms Cash Incentives Profit Sharing and Savings Plan
Mc $ave
MC Direct Shares
Credit Union
Financial plan assistance
Retirement Benefits
Employee provident fund
Employee state Insurance
Bonus- 8.33% of base salary at retirement year.
Gratuity-severance package
Associate stock-ownership Plan
Deferred profit sharing plan (100% funded by Walmart stakeholder program (bonus based on store performance)
Group RRSP
Long term Dis ability coverage
Continue Reading
View Writing Issues

You May Also Find These Documents Helpful

  • Powerful Essays

    Mr. Zaboschuk
    • 2303 Words
    • 7 Pages

    Mr. Zaboschuk

    Ferracone, R. A., & Borneman, J. P. (2001). Putting pay for performance back into incentive programs. Compensation & Benefits Management, 17(4), 29.…

    • 2303 Words
    • 7 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    Riverpoint Writer Reimbursement and Pay for Performance Paper
    • 1525 Words
    • 5 Pages

    Riverpoint Writer Reimbursement and Pay for Performance Paper

    Federman, D. (2004). Pay-for-Performance: From theory to Reality. Workspan, World at Work, 47(4), Scottsdale, AZ.…

    • 1525 Words
    • 5 Pages
    Powerful Essays
    Read More
  • Better Essays

    Wal-Mart Research Paper
    • 2709 Words
    • 11 Pages

    Wal-Mart Research Paper

    Ungar, R. (2013, April 17). Walmart pays workers poorly and sinks while Costco pays workers well and sails: Proof that you get what you pay for. Retrieved from Forbes: http://www.forbes.com/sites/rickungar/2013/04/17/walmart-pays-workers-poorly-and-sinks-while-costco-pays-workers-well-and-sails-proof-that-you-get-what-you-pay-for/…

    • 2709 Words
    • 11 Pages
    Better Essays
    Read More
  • Good Essays

    Chern Case Study
    • 972 Words
    • 4 Pages

    Chern Case Study

    | Ability to communicate effectively with customers through written and spoken wordsActive listening and persuasive nature…

    • 972 Words
    • 4 Pages
    Good Essays
    Read More
  • Good Essays

    What Are Walmart's Ethical Issues
    • 680 Words
    • 3 Pages

    What Are Walmart's Ethical Issues

    Ethic violations includes bribes, theft, personal conduct violations, and falsification of company assets, system hacking, or global trading malpractices. While Founder Sam Walton had a vision of employees of excellence. In the past 20 years Walmart’s ethics regarding employees has been questionable in the eyes of today’s workforce. It is evident by visiting several Walmart stores that customer service, excellence and engagement of Walmart employees is often inconsistent among locations and the individual leaders or Store Managers of each locations. It is not uncommon that the customer experience varies greatly from one Walmart location to the next. Walmart has long been criticized for low employee wages, unethical employment practices, which has resulted in thousands of employee related lawsuits. In a move to improve company image, culture and ethics, Walmart introduce new opportunities to employees, which included higher wages, flexible schedules, advancement opportunities, benefits and investment opportunities. Walmart also prides itself with by offering advancement opportunities for those stakeholders who practice dedication and commitment to the company. While these efforts appear to be long overdue by Walmart. Employers across the country are watching and measuring results as workforce challenges continue to plague industries throughout the…

    • 680 Words
    • 3 Pages
    Good Essays
    Read More
  • Satisfactory Essays

    The Challenging Careers Offered at McDonald's
    • 392 Words
    • 2 Pages

    The Challenging Careers Offered at McDonald's

    McDonald’s gives you the tools you need to succeed, whether it’s the chance to own your own restaurant or tackle the corporate ladder. To be the best…

    • 392 Words
    • 2 Pages
    Satisfactory Essays
    Read More
  • Good Essays

    Walmart vs. Target
    • 1096 Words
    • 5 Pages

    Walmart vs. Target

    Walmart has about 9,600 retails around the world it’s the World’s 18th largest public corporation. It is also the biggest private employer in the world with over 2 million employees, and is the largest retailer in the world. Walmart is a much bigger brand than Target as target only has 1,767 stores and only operates out of U.S. as of right now. Even if target is not as big as its competitor Walmart it’s still a big competition with Walmart. Both companies have their own brand which they sell at a cheaper price than other name brand items. They have many brands that range from food to clothes to household items. Many shoppers prefer Walmart and target brands over the other leading name brands. That’s because of the prices and quality of the brands. For an example Walmart food brands are mostly between 10 cents to two dollars cheaper than the name brand, and target home furnishing has good looks and quality for long lasting furniture. There’s many items that are the same that you can get at both stores, and even both stores are right next to each other in some sort some not even a mile away from each other, so if it’s not the distance that make you go into one store then the other then what is it? Both stores are mainly superstores meaning a one stop shop get everything in one store from food, to clothes to even electronics, so there really no need to go to one store pick up a few items and go to another because they don’t sell such items you were looking for. Doing my research I find a big…

    • 1096 Words
    • 5 Pages
    Good Essays
    Read More
  • Good Essays

    Task 1
    • 2610 Words
    • 7 Pages

    Task 1

    Whereas McDonald’s purpose is to sell the best food for people to buy so the business can make profit which allows the business to expand as well as…

    • 2610 Words
    • 7 Pages
    Good Essays
    Read More
  • Satisfactory Essays

    Hrm 531 Week 3 Learning Team Reflection
    • 386 Words
    • 2 Pages

    Hrm 531 Week 3 Learning Team Reflection

    Companies today should mirror their compensation and benefit programs with their long- term business strategy and organizational culture. According to Casio (2010), “Pay systems are designed to attract, retain, and motivate employees” (p.421). The most important objective is fairness or to achieve internal, external, and individual equity; and maintain a balance in relationships between direct and indirect forms of compensation, and between the pay rates of supervisory and nonsupervisory employees. Employers must perform job analysis, develop job descriptions, evaluate the value of job/position in the organization, develop pay structure and pay levels to create competitive employee compensation and benefits (Cascio, 2010).…

    • 386 Words
    • 2 Pages
    Satisfactory Essays
    Read More
  • Powerful Essays

    Mcdonalds Swot Analysis Essay
    • 1715 Words
    • 7 Pages

    Mcdonalds Swot Analysis Essay

    McDonalds has been a leading fast-food chain in the restaurant industry since 1955. Not only have they created some of America’s favorite pastime foods, but also they’ve been a leading force in creating global change with innovative additions such as drive-thru restaurants, college credits from their Hamburger University to chicken McNuggets and more!…

    • 1715 Words
    • 7 Pages
    Powerful Essays
    Read More
  • Good Essays

    Michael Kor Vs Walmart Customer Benefit Package
    • 1484 Words
    • 6 Pages

    Michael Kor Vs Walmart Customer Benefit Package

    To contrast the Customer Benefit Package of Wal-Mart against Michael Kors for purchasing a suit or a new formal dress, there are many contributing factors. People look for different benefits from the service and products to satisfy what they are looking for. Wal-Mart compared to Michael Kors has a lot of contrasting factors both in goods and services provided. The biggest factors between the two that I see would be price, quality (value) and selection.…

    • 1484 Words
    • 6 Pages
    Good Essays
    Read More
  • Good Essays

    Process Essay: What Makes Target So Successful
    • 908 Words
    • 4 Pages

    Process Essay: What Makes Target So Successful

    I am going to compare Target against Wal-Mart . Target does a variety of things to ensure that its employees are successful at their jobs and to make sure guests are provided with the best customer service possible. Target uses different technology to communicate quickly between members and to respond to guest as quickly as possible.…

    • 908 Words
    • 4 Pages
    Good Essays
    Read More
  • Good Essays

    Compare The Aims And Objectives Of Oxfam
    • 690 Words
    • 3 Pages

    Compare The Aims And Objectives Of Oxfam

    The employees at Oxfam are doing a voluntary job which means they are not getting paid for the work they do, but they are doing the job out of good whereas at McDonalds the employees get a good wage. The purpose of Oxfam is to help the ones in need and to help develop third world countries whereas McDonalds wants to make a profit. Oxfam provides free services to the poor people who are suffering from poverty, they provide the poor people with free education whereas McDonalds has no free services or goods for their…

    • 690 Words
    • 3 Pages
    Good Essays
    Read More
  • Better Essays

    Case Analysis - Walmart Staffing
    • 1573 Words
    • 7 Pages

    Case Analysis - Walmart Staffing

    A problem exists in that Wal-Mart has fought off any organizing attempts of unions by their employees, which limits employees’ influence on policies and company process’s. This problem filters down to the hiring and promotional process that occurs within the company. As stated in the case study, “…from date of hire until first being promoted to an assistant manager was 4.38 years for women and 2.86 years for men. For store managers, the times were 10.12 years and 8.64 years respectively” (Mark, 2003). From the numbers, men were promoted faster than women, but Wal-Mart states that promotions were given based on performance evaluations. Furthermore, it was stated store managers filled positions with…

    • 1573 Words
    • 7 Pages
    Better Essays
    Read More
  • Satisfactory Essays

    Two Fast Food Restaurants
    • 334 Words
    • 2 Pages

    Two Fast Food Restaurants

    McDonald’s and Burger King make huge profits. Both fast food restaurants are able to serve thousands of people daily. Due to the advertising that both places do like McDonald’s sends out flyers in the mail so does Burger King. When watching television there are commercials about both restaurants. I have gotten coupons for Burger King on my receipts at my local corner store. Which McDonald’s does not do that with coupons on receipts? The way that both restaurants are setup makes it possible to handle people quickly. Both places have counter and kitchen operations to serve the customers in a timely manner. Burger King and McDonald’s both have low cost food. They have the dollar menu which makes it more affordable for people to eat there. They both compare the burgers that they serve like the Whopper and Big Mac. McDonald’s and Burger King both sell chicken and French fries as well. Both staff a large variety of people for low cost. The employees at both restaurants do not get benefits when they first start to work. You have to be employed there for awhile till you can get health benefits for yourself or your family. When working for these companies at low pay then you have to work your way up the ladder. To be able to get a higher pay and benefits you have to work a lot of hours at both companies. When being employed for companies like this it is hard work at very low pay at first. I know this because I worked for McDonald’s, but not Burger King. They both star employees out at minimum wage. Which with being paid that it is sometimes hard to make ends meet. McDonald’s and Burger King both have large franchise around the world. I have seen them both in Virginia and North Carolina. With having a lot of companies around the world that is why they serve thousands of people…

    • 334 Words
    • 2 Pages
    Satisfactory Essays
    Read More

Related Topics