Essays on Compensation Management

Introduction

Human resource information system (HRIS) brings the fields of information technology and the human resources together by the use of HR software. This way, HR processes and activities can happen electronically (Lippert & Michael, 2005). These activities are managed electronically by the HRIS products, and they include payroll, management, accounting, and other activities related to human resources. The guided application of HRIS makes it possible for a company to keep information concerning the workers in an accessible and organized manner (Lippert & Michael, 2005). It is, therefore, necessary for an organization to have the best technology for the HRI systems. Compensation ...

Compensation strategy of an organization is essential in ensuring a competitive advantage over rivals. In the contemporary business world, companies face increasing pressure to offer high-quality products and services. Compensation strategy is important to employees and employers. Workers often depend on salaries, wages, as well as benefits for income provision. Compensation practices differ in various companies. Managing compensation is a primary mechanism for decisions in the job market. Proper compensation management is crucial in improving organizational performance. Most companies adopt compensation strategies that enable employees to produce high-quality work. Companies such as Baker Hughes have a strategy aligned with ...

Performance and Compensation Management

Over the years, World Bank has been termed to be one of the most competent organizations all over the world. It can be viewed as a cooperative with up to 189 countries members. These stakeholders are then represented by a Board of Governors who happens to be the crucial legislators. Normally, the members of the board are countries’ ministers of development or finance. Usually, it is the role of the governors to assign precise obligations to 25 Executive Directors within the organization. This group’s primary objective is to finance developments that improve the economy of the member states. ...

Human Resource Management Issues

Introduction The human resource unit is perhaps the most dynamic one compared to virtually all the others. Majorly, this arises from the fact the human resource deals with the most important part of an organization and that is the employees. Therefore, there is a need for constant evolution in this area to ensure that the organization stays at par with the changing requirements of the employee. Specifically, various issues are of utmost concern to each agency. For instance, compensation and benefits for the employees are one of the most important areas that the human capital department deserves to pay ...

Implementation of Compensation and Benefit System

Compensation relates to paying someone an amount or in kind in return for work done for you. In an organization, it refers to the sum an employer provides to its employee for doing the work. The compensation is rendered as a result of industry's trends, job description, competition from close substitutes, etc. A compensation package comprises of not only monetary payments but in-kinds also to have a claim on goods and services offered by the firm (Buhl, 1989). These benefits, as well as other non-compensation systems, are used to motivate employees and generate benefits from leveraging their capabilities in ...

Globalization brings about the needs of global companies to operate more efficiently with the aim to gain competitive advantages and to face the contemporary issues and challenges in the contemporary world. A critical factor in optimizing organizational efficient operations of these companies is the IHRM (Guest et al., 2000a; Guest et al., 2000b). The HRM operations helps in developing and motivating the workforce of the companies to improve skills, knowledge, and the modernization required for the companies to vie with ...

Definition of Topic

Tuition is usually attributed to educational related costs which are incurred when a person pursues a particular course or a variety of study courses. Consequently, tuition reimbursement programs are a category of employee benefits whereby the employer compensates the workforce for the costs accrued in furthering their education. Thus, tuition reimbursement is a process where the students pay for their learning costs and are later repaid by their respective employers in the future (Martocchio, 2001). Therefore, tuition reimbursement program is a form of learning financial aid that is designed to relieve students the costs of higher learning. However, tuition reimbursement program requires that the student ...

Human resource management (HRM) is the supervision of an organization’s labor force. HRM is accountable for the desirability, selection, valuation, and gratifying of employees while also overseeing organization authority and philosophy. HRM is also responsible for ensuring the employees conform to the employment and labor laws. The ideal function of human resource management is to increase the effectiveness and contribution of employees in the attainment of organizational goals and objectives. Human Resource Management (HRM) is the purpose within an organization that emphases on recruitment, management and delivering direction for people who works in the corporation. Human Resource ...