A worker receives various types of returns mainly known as ‘financial’ returns and on-job fringe benefits for work done or services provided to employers. The financial returns include daily wages, fixed salary, monetary bonuses, commissions and share ownership after…
Consequently, the desirable outcomes such as reduction in poverty, greater availability of short-term employment opportunities, increase in GDP etc. are obtained, which lead to societal well-being and prosperity. For instance, technological advancement increases labor productivity, process and product innovation, specialization, communication and transportation networks. In turn, the economies of scale (mass production) is observed, which reduces total business costs and lowers market prices. Finally, the aggregate consumption and demand increases because of overall improvement in economy.
However, any underlying weaknesses or negative feedback may transform a virtuous into a vicious circle. In contrast, the latter has undesirable outcomes and negative consequences such as increase in poverty and unemployment, economic contraction, low aggregate consumption and output etc. For instance, constant increase in money supply may result in inflation that, in turn, will reduce real incomes in society. Consequently, the aggregate consumption will reduce and economy will observe negative growth rate (Samuelson & Nordhaus, 2009).
The Organizational structure refers to internal managerial system and hierarchy. In fact, it showcases the how tasks into departments are assigned, how they are delegated and how decision-making and implementation is being done and at various managerial levels. Indeed, the organizational chart is a diagram that shows the top, middle and first-line management levels as well as reveals the structure (vertical functional, divisional, matrix, virtual and networking) that firm has adopted. The internal structure is extremely important in today’s new workplace business environment because it determines the chain of command, which refers to the authority executives enjoy because of their position based on which they are deemed responsible for decision-making, problem solving, strategic planning, ...
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(Compensation (HRMD) Essay Example | Topics and Well Written Essays - 1000 Words)
“Compensation (HRMD) Essay Example | Topics and Well Written Essays - 1000 Words”, n.d. https://studentshare.net/miscellaneous/409890-compensation-hrmd.
Traditional companies were very much concerned with productivity and the only means was to achieve it was focusing on the job rather than employees. Use of punishment was considered vital in enabling workers to work hard thus improved productivity but with advent of enhanced technology and human relation movements, organizations have realized the need to treat their employees as the most valuable assets and developed more humane measures of dealing with employees.
The market assessment job will compare compensation for our organization's jobs to the marketplace rate for comparable jobs. This method necessitates precise market-pricing surveys.Market pay is the compensation paid for an exact job...
In 2000, it was 531 times. These facts were made the basis of a question whether or not the CEOs of the United States of America are overpaid.
The salaries and other benefits received by CEOs depend upon a number of factors. These include the size of the
Obama was, for instance, seriously threatened when he was linked to Franklin Raines, the former Fannie Mae CEO , who was reportedly compensated $90 million from 1998 to 2003. Understandably, this is an important issue in America amidst the ongoing financial recession wherein
For instance, Microsoft also offers these compensation packages with bonuses built in for innovative design. Essentially the Facebook approach to compensation offers employees wages that are commensurate with those
Maslow’s theory states that an individual is usually motivated when he or she is under pressure to achieve certain needs and when these needs are achieved, they stop becoming motivating factors and the individual focuses on
And as from its official website, the corporate has over 16,000 staff United Nations agency need.
The management of Edison International has determined to adopt the balanced compensating record book when reviewing the
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