Meet, Lead Or Lag - 1228 Words

Meet, Lead or Lag? Compensation is made up of two primary areas. Those areas are salary administration and benefits. In many companies, payroll is a role within the accounting department. In other companies, payroll is positioned in compensation. Currently, Motors and More consist of one female supervisor and four male managers. Although, Motors and More does not have an issue with providing equal pay, we will make sure the company pays every employee sufficiently. â€Å"The Equal Pay Act requires that men and women in the same workplace be given equal pay for equal work. The jobs need not be identical, but they must be substantially equal. Job content (not job titles) determines whether jobs are substantially equal. All forms of pay are covered by this law.† (Eeoc.gov, 2015) Motors and More will form an Equal Pay department that will need to perform a thorough review of the company’s different pay grades and levels. Motors and More will ensure that everyone no matter t he race, gender or ethnicity will not be paid outside of the minimum or maximum pay scale. This will guarantee we remain in compliant with the Equal Pay act. Each position will be graded on a five point scale. The factors that will be taken into consideration include: experience, education, level of skill and responsibility. The five point method will be defined and the monetary value will be placed in the appropriate component. Once the evaluation process is complete regarding each employees current pay, eachShow MoreRelatedThe Business World : Advantages And Limitations Of The Traditional Financial View On Organization Performance903 Words   |  4 Pagesoutcomes and the customer value proposition (Kaplan and Norton, 1996). The lead objectives are called performance drivers and they lead to the customer and financial perspectives. After identifying these objectives they are placed in the learning and internal business processes perspectives forming a causal relationship. The BSC tries to maintain the balance is maintained between the short and long term, the lead and lag objectives and the financial and non-financial objectives. These objectivesRead MoreCompensation Pl Definition And Strategy1609 Words   |  7 Pagesdecisions are prone to biased decision making, getting the incentives wrong can lead to human capital focusing on the wrong things and to employee morale and engagement problems, employee turnover, or, as some would argue, to the collapse of an organization (p.104). MMI recognizes, that in an effort to be competitive in the local labor market a strong, concrete and fair compensation package must be presented. It is required to meet the needs and values of the employees. 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The technological advances are vehicles, airplanes, radio, TV, cell phones, and computers. The 20th century has changed how people meet, interact, learn, work, and do business. This type of knowledge doubles every several years. Sociologists are concerned how these technological societies will adapt to the social changes that technology continues to bring. Social change is alteration