Hrm compensation

Description HRM Week 2 Compensation Evaluation You were hired to work as a HR Consultant for a small local hospital, with the task of expanding the workforce of certified medical assistants. All are employed as certified medical assistants, yet they all make different amounts of money. According to survey data, all three employees are below the market rate for this job in the local job market. All three employees are also exemplary employees with near perfect scores in their most recent performance evaluation.

Hrm compensation

Hrm compensation

Employee Manual ; Employment Contracts ; Employment Practices Liability Insurance The field of human resources management is greatly influenced and shaped by the state and federal laws governing employment issues.

Indeed, regulations and laws govern all aspects of human resource management—recruitment, placement, development, and compensation. These acts made illegal the discrimination against employees or potential recruits for reasons of race, color, religion, sex, and national origin.

It forces employers to follow—and often document—fairness practices Hrm compensation to hiring, training, pay, benefits, and virtually all other activities and responsibilities Hrm compensation to HRM.

The act established the Equal Employment Opportunity Commission to enforce the act, and provides for civil penalties in the event of discrimination. The net result of the all-encompassing civil rights acts is that businesses must carefully design and document numerous procedures to ensure compliance, or face potentially significant penalties.

Another important piece of legislation that complements the civil rights laws discussed above is the Equal Pay Act of This act forbids wage or salary discrimination based on sex, and mandates equal pay for equal work with few exceptions. Subsequent court rulings augmented the act by promoting the concept of comparable worth, or equal pay for unequal jobs of equal value or worth.

Other important laws that govern significant aspects of labor relations and human resource management include the following: Davis-Bacon Act of —This law requires the payment of minimum wages to nonfederal employees.

The Norris-Laguardia Act of —This law protects the rights of unions to organize, and prohibits employers from forcing job applicants to promise not to join a union in exchange for employment.

Social Security Act of —This law was enacted in order to protect the general welfare by establishing a variety of systems to assist the aging, the disabled, and children. The Walsh-Healy Public Contracts Act of —This law was designed to ensure that employees working as contractors for the federal government would be compensated fairly.

Fair Labor Standards Act of —this important law mandated employer compliance with restrictions related to minimum wages, overtime provisions, child labor, and workplace safety.

Taft-Hartley Act of —This law created provisions that severely restrict the activities and power of labor unions in the United States. This law grants certain rights to union members and protects their interests by promoting democratic procedures within labor organizations.

Age Discrimination in Employment Act of —This legislation, which was strengthened by amendments in the early s, essentially protects workers 40 years of age and older from discrimination. Occupational Safety and Health Act of —This act, which established the Occupational Safety and Health Administration, was designed to force employers to provide safe and healthy work environments and to make organizations liable for workers' safety.

Today, thousands of regulations, backed by civil and criminal penalties, have been implemented in various industries to help ensure that employees are not subjected to unnecessarily hazardous working conditions. Family and Medical Leave Act of —This law was passed to provide employees who qualify with up to 12 work weeks of unpaid, job-protected leave in a month period for specified family and medical reasons.

It also requires group health benefits to be maintained during the leave as if employees continued to work instead of taking leave. The Act became effective on August 5, and applies to companies who employ 50 or more people.

The network of state and federal laws that exist to regulate employment and labor relations is extensive. In many cases, rules only apply to firms with a specified minimum number of employees and thus do not regulate small companies.

So, companies of all sizes must make an effort to stay abreast of legislative and regulatory developments in this area. The SHRM tracks developments at the state and federal level regarding human resource matters and makes much of this available on its Web site, located at http: Handbook of Human Resource Management Practice.

Mastering Your Small Business. Society of Human Resource Managers.employee compensation system, the focus of this chapter, plays a major role in efforts to manage human resources better.

An updated version of this working paper has been published in Handbook of Human Resource Management, Ferris, Rosen and Barnum (Ed.), Chapter (27), Compensation Resources & Forms. Job Description Forms. Job Description for Staff Positions (Word).

A compensation strategy must be affordable, structured and competitive. Employee compensation can be divided into salary, benefits and incentives. Startups often cannot compete with large companies on salary, but options such as a flexible environment can attract/retain talent.

In startups. Here is the best resource for homework help with HRM COMPENSATION/BENEFITS at Franklin University. Find HRM study guides, notes, and practice tests.

Additional Compensation Limits PS PURPOSE compensation limit (see Additional Compensation Limitations below) and not to exceed the limit.

Compensation is defined as the total amount of the monetary and non-monetary pay provided to an employee by an employer in return for work performed as required. Essentially, it's a combination of the value of your pay, vacation, bonuses, health insurance, and any other perk you may receive, such as free lunches, free events, and . Executive compensation is a very important issue for investors to consider when making decisions. An improperly compensated executive can cost shareholders money and can produce an executive who. Let's start our discussion of Compensation Management with a simple question: "What is compensation?" In very simple terms, compensation is the results or rewards that the employees receive in return for their work. Compensation includes payments like bonuses, profit sharing, overtime pay, recognition rewards and sales commission, etc.

The requests will then be routed to the Office of Human Resource Management (HRM) for further routing and compliance review (e.g. Compensation management is more than just the means to attract and retain talented employees.

In today’s competitive labor market, organizations need to fully leverage their human capital to sustain a competitive position.

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