Top Management’s Compensation and Its Harmful Effects Introduction Now-a-days it is becoming very common practice among companies to pay very high compensation to their CEOs (Chief Executive Officers) as well as top management executives. When general people come to know that CEOs and top executives draw a huge amount of compensation from their companies‚ they think what a teacher‚ a government employee make and wonder what those executives could possibly be doing to earn so much. But when shareholders
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LEGAL ASPECTS OF COMPENSATION AND INDUSTRIAL RELATIONS Indian labor laws are the laws that regulate employment. These are broadly divided into 5 categories: working conditions‚ industrial relations‚ wages‚ welfare and social securities. Under the Constitution of India‚ Labor is a subject in the Concurrent List where both the Central & State Governments are competent to enact legislation subject to certain matters being reserved for the Centre. The Ministry of Labor and Employment has the responsibility
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processes for setting executive compensation? Agency theory‚ tournament theory and social comparison theory are the 3 alternative theories that explain the principles and processes for setting executive compensation. Different individuals and groups participate in setting executive compensation. They include compensation consultants‚ compensation committees‚ and boards of directors; each play a different role in setting executive compensation. Executive compensation consultants usually propose several
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Employee Compensation University of Phoenix Human Capital Management 531 Employee compensation can be a very complex issue in any organization. This area combines basic human resource concerns as well as financial aspects of the organization. When dealing with compensation‚ an organization must balance the employee’s expectation and its own financial abilities. Employee compensation not only covers the salary but also includes other indirect benefits that may be part of a total compensation package
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Compensation and benefits Is a sub-discipline of human resources‚ focused on employee compensation and benefits policy-making. The basic components of employee compensation and benefits: Employee compensation and benefits are basically divided into four categories: 1. Guaranteed pay – monetary (cash) reward paid by an employer to an employee based on employee/employer relations. The most common form of guaranteed pay is the basic salary. 2. Variable pay – monetary (cash) reward paid by an
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A compensation strategy is one of the many human resources (HR) tools that organizations use to manage their employees. For an organization to receive its money’s worth and motivate and retain their skilled employees‚ it needs to ensure that their compensation system is not an island by itself. Not only is it important for an organization to link compensation to its overall goals and strategies‚ it is important that its compensation system aligns with its HR strategy. Let’s face it‚ if an organization
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cases of alleged workers compensation fraud with a potential total of more than $1 million. All three arrests took place last week‚ resulting from joint investigations by the Suffolk County District Attorney Insurance Crime Unit‚ the New York State Insurance Department Frauds Bureau‚ the Workers’ Compensation Board Fraud Inspector General’s Office and NYSIF’s Division of Confidential Investigations. "NYSIF has mounted an aggressive campaign against workers’ compensation fraud for many years thanks
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Influence Maps Uncovering where the power lies in your projects [pic] [pic] [pic] [pic] Who influences whom? © iStockphoto/iqoncept Many people can have influence over your projects. Some influencers are obvious and easy to spot. Others are less obvious‚ but are no less significant. If you fail to recognize and "manage" these influencers‚ you’ll most-likely experience unexpected resistance to your projects‚ and sometimes bewildering failure. This is increasingly the case as you run
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Staffing‚ Performance Management & Compensation Report Executive Summary This report was generated to assist American Express in visualizing how the use of internal recruitment to fill vacancies of higher-level positions by linking the staffing‚ performance management‚ and compensation plans. How these links can further strengthen the organizational culture by being internally aligned with the vision of employing the most superior and dedicated staff. The research findings will show that when
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Terms/Definitions The Longshore and Harbor Workers’ Compensation Act and its extensions‚ provide medical benefits‚ compensation for lost wages‚ and rehabilitation services to employees who are injured during the course of employment or contract an occupational disease related to employment. Survivor benefits also are provided if the work-related injury causes the employee’s death. Common Definitions Admiralty – refers to the common law of the sea‚ enforced by the federal Courts. Seamen have
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