Essays on Seniority

Ineffectiveness of Incentive Pay Programs

Today, most companies are employing incentive pay programs to promote the motivation and productivity of their workers. The move is cultivated by the pervasive assumption that a promise of an award encourages employees to increase their output and productivity. However, this is not usually the case. Incentive pay programs manipulate employees even more than seniority and merit pay programs. The programs tend to stimulate temporal compliance, especially in certain workplaces (Martocchio, 2013). The crux of the problem is connected to the unsuitable psychological assumptions among employees. In fact, research has shown that this is the major factor that undermines ...

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 ...

As Human Resources Manager, Care Concerns Pty Ltd (CC), explain the implications of the level of supply and demand in the labour market in the recruitment and retention of;

Registered Nurses Human resource management (HRM) demands from the manager to keep a keen eye on the demand and supply of its niche market. The equation is very clear regarding GPs and RNs. The demand exceeds the supply for GPs in the 15 facilities of CC, while the opposite is true for RNs. For professional, stable and satisfactory recruitment it is recommended to not just react to the supply and ...

Compensation is the payment offered by an employer to an employee in exchange of the services received from him. Mostly compensation is monetary but it may include certain non monetary facilities such as housing, conveyance, insurance etc. Compensation is further divided into two general types: Direct and Indirect compensation. Direct compensation includes base wage, incentives, bonus, leave encashment etc. while indirect compensation is designed to provide additional benefits such as social security, health insurance etc and does not vary with performance. Designing a compensation plan that is satisfactory to all is a major challenge for the Human Resource Management ...

Introduction

Business leaders across the globe have value statements that guide them throughout their lives. Core values are characterized as things of worth and serve as guideposts for associations on initiative and basic leadership (Browning, 2009). Core values speak to the center needs of a person’s or an organization’s way of life. At its most fundamental, a value statement depicts the general motivation behind the individual or group. It reveals insight into a person’s values and sympathy toward other people and activities for survival. The value statement is a convincing portrayal of the state and capacity of ...

Credit Risk Management

Commercial Loan Market Commercial loans are debt arrangements agreed upon by the lender (business) and borrower (financial institution) to cover operational costs or fund business projects. During economic downturn, financial institutions are cautious of their lending and consequently import strict regulations that force borrowers to pay a higher interest rate. The agreement between the lender and borrower in the market is documented in a “credit agreement.” In credit risk management, the most important components of the agreement describe the covenants, the security requirements, priority of payments and events of default.

Segmentation of Commercial Loan Market

Financial institutions use credit rating to qualify borrowers based ...

International Business

International expansion outside United States implies an insightful consideration of the business etiquette of the targeted location. For this report, the focus will be on United Arab Emirates, a Middle East country, China, an Asian society, and Mexico, a Latin America nation. From a business standpoint, there must be understood specific cultural aspects, such as the meet and greet protocol, the dress codes, gender relations, communication patterns, the negotiation style, socializing and business behavior. An important specificity for country analysis is also the economic profile, which will be investigated. Based on these aspects and the specificities for each country, ...

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Efficiency Improvements and Trade-off’s

Ghosn’s first act of efficiency was to minimize the time uncovering the problems hounding Nissan. He did this by creating 9 functional teams who would be looking for all possible faults. The Japanese avoid public finger-pointing and value face saving. This approach could have offended and demoralized many managers. Production capacity was reduced to match current demand levels. Factories were closed (Belson, 2002) causing a 14% reduction of the workforce. This was highly effective but it was more painful for the Japanese who trusted in life-time employment. That bond of trust was surely damaged. Sales ...

Part A

A major engineering firm has introduced virtual teams around the globe to resolve client emergencies. Although some of these emergencies are routine (they occur often enough that the engineers have ready-made action plans), several are novel. Furthermore, information about the client emergencies often comes second hand from employees of the client, so some of the details are missing or ambiguous. Although the company plans to eventually offer a variety of communication media that these virtual teams can use, engineers are currently limited to email, telephone, fax machine, and an instant messaging program that was recently introduced.First, discuss media richness. ...

Workers are important assets of a country’s organizations as well as builders of a country’s economy. Their productivity, however, is dependent on the way their employers treat them in all spheres of work including their representation in labor unions. In words of Bob Nelson, “Take time to appreciate your employees and they will reciprocate in a thousand ways.” An organization cannot be able to establish a good rapport with its customers without developing one with its employees. Labour unions or workers unions are organizations that have been established to represent workers interests to their employers regarding wages ...

Human Resource Management

Rights of Workers and the Consequences of Unfair Labor Practices The National Labor Relations Act (NLRA) was enacted in 1935 by the Congress to protect the rights of both employers and employees, to encourage collective bargaining and prevent unfair labor practices that may harm the welfare of workers and the country’s economy (National Labor Relation Board, 2016). The NLRA assures employees of the private sector the rights of being able to organize into trade unions, participate in collective bargaining to champion for better conditions at work and better terms, and take collective action (strike) when necessary. Under the ...

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Problem Description The Japanese IT joint-venture company has a large overseas office where 80% of its employees are locally hired. It has been observed since the start of the century that many young employees are leaving the company in disproportionate numbers in just after 3 years. The HR manager suspected that the reasons for leaving are rooted in the nature of these young people as members of a distinct generation called Generation X or Millennials (Bersin). In the exit interviews, it was discovered that these young people believe that they are not being compensated fairly based ...

2016-04-09

References 12 Introduction As we know, the labor resources are the main resource of enterprises. The results of the company and its competitiveness depend largely on the quality and effectiveness of the above mentioned resources. The difference between the labor force and other types of resources lies in the fact that each employee may waive the conditions offered to him and can require changes in working conditions, retraining or even voluntary redundancy. The concept of “labor resources of the enterprise” characterizes its potential workforce. Employees can be organized in labor unions and to act as a separate subject of ...