Question

fhd that some changes should be made, as the majority of employees (you have 120 employees) are not happy with what is being
0 0
Add a comment Improve this question Transcribed image text
Answer #1

Please LIKE THIS ANSWER, so that I can get a small benefit, please

Answer :

Cost considerations are taken into account while revising compensation plan:

As per the question, the compensation plan needs revision so that the employees feel satisfied with what they receive. Following cost considerations need to be taken into account:

· The compensation philosophy of the organization needs to be considered and taken care of before making the changes.

· The budget that has been allocated by the organization towards giving compensation must be taken into account and then new plans must be framed.

· The profitability of the organization on a yearly basis must be calculated, on the basis of which the amount to be paid out as compensation can be decided.

· Future payout plans on dividend or other liabilities must be considered and then an increase in the compensations must be decided upon.

Add a comment
Know the answer?
Add Answer to:
fhd that some changes should be made, as the majority of employees (you have 120 employees)...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • PTO: Too Little or Too Much

    You just finished analyzing information for the current compensation and benefits program. You find that some changes should be made, as the majority of employees (you have 120 employees) are not happy with what is being offered. In fact, the plan had not been revised in over fifteen years, making it dated and definitely ready for some changes. One of the major points of contention is the PTO the organization offers. Employees feel the current system of sick time and...

  • Discussion Week 4 As the office manager of a large group practice you have two computational...

    Discussion Week 4 As the office manager of a large group practice you have two computational tasks to undertake today. You need to run a Depreciation Computation: Units-of-Service Using the format in Table 9–1, compute Units-of-Service Depreciation using the following assumptions: Cost to be depreciated = $50,000 Salvage value = zero Total units of service = 10,000 Units of service per year: Year 1 = 2,200; Year 2 = 2,100; Year 3 = 2,300; Year 4 = 2,200; Year 5...

  • As a manager, you will have employees come to you and tell you that they think...

    As a manager, you will have employees come to you and tell you that they think they are underpaid. Assume that has just happened. The employee in this case is a marketing associate who works for you and a large advertising firm in Atlanta, Georgia. The employees current base salary after three years with the company is $68,000. The company tries to pay at market rate. Develop a plan of action for how you would respond in this situation. 3....

  • Discussion Week 4 As the office manager of a large group practice you have two computational...

    Discussion Week 4 As the office manager of a large group practice you have two computational tasks to undertake today. You need to run a Depreciation Computation: Units-of-Service Using the format in Table 9–1, compute Units-of-Service Depreciation using the following assumptions: Cost to be depreciated = $50,000 Salvage value = zero Total units of service = 10,000 Units of service per year: Year 1 = 2,200; Year 2 = 2,100; Year 3 = 2,300; Year 4 = 2,200; Year 5...

  • Congratulations! It has been nine months since you opened your business, and you are off to...

    Congratulations! It has been nine months since you opened your business, and you are off to a flying start. You have hired and trained your team, your prospects look good and it is clear you will need to bring on more people to handle the expected increase in business. Your angel investor has approached you about the possibility of expanding your operation. But before he will commit further capital, he wants to see a plan for how you will manage...

  • P19.12 You are the auditor of Beaton and Gunter Inc., the Canadian subsidiary of a public multinational engineering company that offers a defined benefit pension plan to its eligible employees. Employees are permitted to join the plan after two years of e

    P19.12 You are the auditor of Beaton and Gunter Inc., the Canadian subsidiary of a public multinational engineering company that offers a defined benefit pension plan to its eligible employees. Employees are permitted to join the plan after two years of employment, and benefits vest immediately. You have received the following information from the fund trustee for the year ended December 31, 2020: Discount rate      5% Rate of compensation increase 3.5% Defined Benefit Obligation Defined benefit obligation at January 1,...

  • respond: Strategic planning should be formal or semi-informal, depending on the size and nature of the...

    respond: Strategic planning should be formal or semi-informal, depending on the size and nature of the organization. The larger and more complex the business is should correlate with the formality of the strategic plan. I’m a veteran and have experienced how the military has a very formal strategic plan and account and plan for every conceivable situation. I also own and run a small business in the financial services industry and have a semi-formal strategic plan. The extent of my...

  • This is why your employees are leaving As another resignation letter is slid across your desk,...

    This is why your employees are leaving As another resignation letter is slid across your desk, you can’t help but wonder if this is becoming an epidemic. Employees leave; people move on. This is an aspect of business that managers should anticipate. People have their own lives outside of the walls of your building, and sometimes those lives will pull them in multiple directions, leading them away. Yet if workers seem to be moving on in their droves, you may...

  • STEP 1: In your own words define problem employees and the categories they may fall into....

    STEP 1: In your own words define problem employees and the categories they may fall into. For the second or last paragraph provide your opinion on which employee type is the most difficult. DEFINITION : I think that "problem employees" are employees that either directly or indirectly hinder the organization's mission or vision, and break down into roughly four categories. In general, problem employees can be classified into two broad categories - employees creating problems for the organization and employees...

  • Benefits Required by Law Several forces have made benefits a signficant part of employee compensation packages....

    Benefits Required by Law Several forces have made benefits a signficant part of employee compensation packages. For example, both federal and state laws require employers to pay certain benefits to employees, such as contributions to Social Security and unemployment insurance. change Concept Review paragraph to read as follows: State and federal laws require that employers offer specific benefits to their employees, and the costs of these benefits are high. Out of every dollar spent on compensation by U.S. companies, more...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT