EMPLOYEE REWARD
Question
Read and make brief notes on the following:
-Compensation ethics
-International and expatriate compensation -Benefits allowances and pensions
Compensation ethics These are standards that are set and agreed globally as the rewards that come with employment. Employees expect to be compensated well for the work that they do as per the agreed contract of employment. However, there is a challenge in coming up with a compensation package that can be termed as ethical because of the differences in attitude of people and diverse cultures within the organizations and believes. For instance, can we say that it is ethical to deny the contract employees certain benefits like health insurance that are enjoyed by permanent staff within the same organization? The transactional view of employment in that the employee sells his or her labor to the highest bidder is blind to the fact that the relationship between the two parties is of mutual acceptance. The employees too make sacrifices for the organization and deserve to be compensated fairly. Compensation ethics should include:- the obligations to make decisions that are consistent with long-term employee interests , should inform employees within a reasonable time the conditions likely to affect their investment in the company and should share the firm’s financial success inform of bonuses. Ethical compensation involves wages that are fair and that are supported as per the law (Gomez-Mejia & Werner, 2008).
International and expatriate compensation
References
Gomez-Mejia L. & Werner, S. (2008). Global Compensation: Foundations and Perspectives
Global HRM, Routledge.
Shaun, T. & York, A. (2000). Essentials of Human Resource management, Butterworth-Heinemann.
Read and make brief notes on the following:
-Compensation ethics
-International and expatriate compensation -Benefits allowances and pensions
Compensation ethics These are standards that are set and agreed globally as the rewards that come with employment. Employees expect to be compensated well for the work that they do as per the agreed contract of employment. However, there is a challenge in coming up with a compensation package that can be termed as ethical because of the differences in attitude of people and diverse cultures within the organizations and believes. For instance, can we say that it is ethical to deny the contract employees certain benefits like health insurance that are enjoyed by permanent staff within the same organization? The transactional view of employment in that the employee sells his or her labor to the highest bidder is blind to the fact that the relationship between the two parties is of mutual acceptance. The employees too make sacrifices for the organization and deserve to be compensated fairly. Compensation ethics should include:- the obligations to make decisions that are consistent with long-term employee interests , should inform employees within a reasonable time the conditions likely to affect their investment in the company and should share the firm’s financial success inform of bonuses. Ethical compensation involves wages that are fair and that are supported as per the law (Gomez-Mejia & Werner, 2008).
International and expatriate compensation
References
Gomez-Mejia L. & Werner, S. (2008). Global Compensation: Foundations and Perspectives
Global HRM, Routledge.
Shaun, T. & York, A. (2000). Essentials of Human Resource management, Butterworth-Heinemann.
References: Gomez-Mejia L. & Werner, S. (2008). Global Compensation: Foundations and Perspectives Global HRM, Routledge. Shaun, T. & York, A. (2000). Essentials of Human Resource management, Butterworth-Heinemann.