difficult to attract the best candidates. HR departments often have to find creative strategies to make a job or job listing more appealing (Ranade‚ 2010). Alternative Actions In order to overcome issues such as hiring manager conflicts‚ compensation issues‚ job incentives and employee retention. Managers and leaders have to think global today; they have to understand different cultural backgrounds. This is a fantastic opportunity for Human Resources. The global HR policies drive processes
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maintained by governmental entities. Churches for their employees or plans which are maintained solely to comply with applicable workers compensation‚ unemployment‚ or disability laws are not covered by ERISA. Plans maintained outside the United States primarily for the benefit of nonresident aliens or unfunded excess benefit plans are not covered by ERISA (Martocchio‚ 2003). BENEFITS There have been a number of amendments to ERISA‚ expanding the protections available to health benefit plan participants
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is a major resource for health services and education. This organization strives to support local medical communities and to work with providers throughout the region to deliver excellence care. According to Vidant Health’s employee handbook the compensation package at Vidant Health includes much more than a yearly salary. The organization has a benefit plan that included a generous vacation plan and‚ it includes illness or disability leave‚ nine paid holidays each year‚ health‚ life and long-term
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packages intended to “ensure overall equity in treatment” (Gittel & O’Reilly 2001‚ p.10). The company also waived the probationary period‚ which meant that employees were certain of job security. Furthermore‚ the company also gave above industry compensation‚ medical benefits‚ and profit-sharing benefits to the “most overlooked group in the industry – the customer service and ramp workers” (Gittel & O’Reilly 2001‚ p.11). Hence‚ as a service-oriented company that employs a lot of people‚ Jet Blue Airways
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Description for: Customer Service Representatives (n.d.) CareerPlanner. Retrieved July 30‚ 2007‚ from CareerPlanner.com website: http://www.careerplanner.com/Job-Descriptions/Customer-Service-Representatives.cfm Knez‚ M.‚ Simester‚ D Martocchio‚ J. J. (2004). Strategic compensation: a human resource management approach (3rd ed.). Upper Saddle River‚ NJ: Prentice Hall.
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is based on the employee compensation. An example would be in 2010 Deborah plans on retiring and her final average salary in the 3-year period preceding retirement was 60‚000 this is based on 59‚000 in 2007‚ 60‚000 in 2008‚ and 61‚000 in 2009. We would then add 59‚000 + 60‚000 + 61‚000 and divide by three and that equals 60‚000 in a three-year time. We can then assume that the benefits Deborah will receive is at 50%. Deborah will be receiving a yearly retirement compensation of $30‚000 from her retirement
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R.‚ & Balkin‚ D.R.‚ (1992). Compensation‚ Organizational Strategy and Firm Performance. Cincinnati‚ OH: South-Western. • Strategic Compensation‚ A Human Resource Management Approach‚ 5th Edition‚ Joseph J. Martocchio. • Stone‚ D. & Zeibart‚ A. 1995. A model of financial incentive effects in decision making. Organizational Behavior and Human Decision Process‚ 61: 250-261. • Gerhart‚ B. & Trevor‚ C. 1996. Employment variability under different managerial compensation systems. Academy of Management
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Equity HRM/324 09/09/2013 Internal and External Equity Equity as it applies to compensation plans used by employers refers to the exchange of service for compensation that employees make with their employers. Total compensation systems take into consideration all things of value given by an employer to an employee in exchange for his or her service in a specified role (Romanoff‚ Boehm & Benson). Total compensation systems include not only salary or wages‚ but also insurance‚ retirement plans‚ tuition
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employees do not pay income taxes on their contributions to the plan until they withdraw funds. Second‚ employers deduct their contributions to the plan from taxable income. Third‚ investments gains are not taxed until participants receive payments” (Martocchio‚ 2009‚ Chapter 11). 401(k) plans allow employees to decide how much of their salaries (this is done by percentage‚ ex. 3% of total income) they want to contribute into their account. Some employers also choose to match their employee’s contributions
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Executive Summary For decades‚ Sonic Records has been a front-runner in the music-industry. To keep up with the changes to go electronically‚ they will be teaming with an online music store. They went with this decision because of the change in this industry as there is less demand for CDs that are being sold in stores. In order for Sonic to continue to succeed in this industry‚ the subsidiary needs to be formed. Sonic’s competitors have already been using this method for years now but‚ Sonic
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