Gidwaney,Veer. Penn Energy (2014, April 10) Compensation Packages: Why Benefits are more Important than Salary. Retrieved from http://www.pennenergy.com/articles/pennenergy/2014/04/compensation-packages-why-benefits-are-more-important-than-salary.html
The company Penn Energy has provided a good overview of the "benefits" of benefits. They want to be able to show why benefits are more important than salary. Penn Energy says there are five perks when looking for jobs, health insurance, dental & vision insurance, voluntary and ancillary benefits, wellness programs , and time off. Penn Energy states it is important to ask questions about benefits and compensation before being hired so the interviewee knows what they are getting into.
Haight, William. American Management Association (N.D) The basics of a Compensation Program. Retrieved from http://www.flexstudy.com/catalog/schpdf.cfm? coursenum=9560a
According to the book compensation by William Haight, developing and building a compensation program plays a large role in human resource management. There is a relationship between compensation and other functions done by others in Human Resource Management that is discussed in the book. Many questions arise when creating and establishing compensation policy's. Haight has provided many questions for employers to ask when creating these policy's to avoid any issues. it is important to remember that the compensation policy's must be effective for it to make an impact on the company and its employees.
McDonnell, Steve. Chron (N.D) HR Compensation issues. Retreived from http://smallbusiness.chron.com/hr-compensation-issues-71617.html
HR compensation issues range in many different categories. External competitiveness is a top priority when making a pay scale for a certain position. Most companies need to do the research to find out what others are paying for the like positions. HR managers also have to look at pay scales internally. Executive compensation is also discussed because of companies who have to disclose publicly and can have back lash. McDonnell talks about how compensations is successful in motivating employees.
McQuerry, Lisa. AZ Central Demand Media (N.D) Challanges of Compensation Management. Retrieved from http://yourbusiness.azcentral.com/challenges-compensation-management-25814.html
Different challenges of compensation management are provided in detail by McQuerry of Demand Media. McQuerry shows that compensation starts at recruitment to keeping up with motivation of employees. The number one important task in retaining employees is having a Compensation Management Program. McQuerry provides statistics from the U.S Small Business Administration and the U.S. Department of Labor for finding the balance in incentive programs.
Nazir, Numan. HR(2010, Feb 2) Compensation and Benefits: Definition and Importance. Retrieved from http://www.hr.com/en/app/blog/2010/02/compensation-and-benefits-definition-and-importanc_g5kiosxm.html
Compensation and benefits are often assumed as the same thing and taken for granted, this is proven wrong by Nazir. Nazir gives the definition of both compensation and benefits and both importance. Not only are benefits and compensation an advantage to the employee but to the business itself. The four categories that Nazir thinks are most beneficial to the business are Job Satisfaction, Motivation, Low Absenteeism, and Low Turnover.
Sammer, Joanne. Business Finance (2012, Jan 13) Compensation Challanges in 2012: Finding the Right Mix. Retrieved from http://businessfinancemag.com/hr/compensation-challenges-2012-finding-right-mix
Sammer's article on challenges with compensation finds that "right mix". It is discussed that many companies just can't afford pay raises. Jason Adwin of Sibson consulting group provides options for companies who are in the position not to be able to give pay increases. Change is also a topic very much talked about in the recent years. Companies must learn to embrace changes in the economy to be able to come out of the economic downturn.
Society for Human Resource Management (2015, Jan 9) Employee Compensation, Obama Administration to keep a keen eye on employer pay practices. Retrieved from http://www.shrm.org/advocacy/governmentaffairsnews/hrissuesupdatee-newsletter/pages/010915_3.aspx
Society for Human Resource Management (SHRM) provides a good article about the Obama Administration keeping an eye on the employers pay practices. SHRM is a strong supporter in nondiscrimination in compensation. They are helping the Obama Administration propose to have federal contractors pay collected and published. SHRM has come up with 3 ways to collect this data and produce " Equal Pay Reports".
Dias, L (2011) Human Resource Management. Saylor.org/books. ISBN 13: 978-1-4533194-3-7 Downloaded Jan 8, 2014 from http://open.umn.edu/opentextbook/bookdetail.aspx?bookID=71
Dias has provided many topics of Human Resource Management as a whole. Many chapters discuss retention of employees and how compensation and benefits pertain to it. There are many chapters that Dias brings back retention and how it effects many different areas of Human Resource Management.
The company Penn Energy has provided a good overview of the "benefits" of benefits. They want to be able to show why benefits are more important than salary. Penn Energy says there are five perks when looking for jobs, health insurance, dental & vision insurance, voluntary and ancillary benefits, wellness programs , and time off. Penn Energy states it is important to ask questions about benefits and compensation before being hired so the interviewee knows what they are getting into.
Haight, William. American Management Association (N.D) The basics of a Compensation Program. Retrieved from http://www.flexstudy.com/catalog/schpdf.cfm? coursenum=9560a
According to the book compensation by William Haight, developing and building a compensation program plays a large role in human resource management. There is a relationship between compensation and other functions done by others in Human Resource Management that is discussed in the book. Many questions arise when creating and establishing compensation policy's. Haight has provided many questions for employers to ask when creating these policy's to avoid any issues. it is important to remember that the compensation policy's must be effective for it to make an impact on the company and its employees.
McDonnell, Steve. Chron (N.D) HR Compensation issues. Retreived from http://smallbusiness.chron.com/hr-compensation-issues-71617.html
HR compensation issues range in many different categories. External competitiveness is a top priority when making a pay scale for a certain position. Most companies need to do the research to find out what others are paying for the like positions. HR managers also have to look at pay scales internally. Executive compensation is also discussed because of companies who have to disclose publicly and can have back lash. McDonnell talks about how compensations is successful in motivating employees.
McQuerry, Lisa. AZ Central Demand Media (N.D) Challanges of Compensation Management. Retrieved from http://yourbusiness.azcentral.com/challenges-compensation-management-25814.html
Different challenges of compensation management are provided in detail by McQuerry of Demand Media. McQuerry shows that compensation starts at recruitment to keeping up with motivation of employees. The number one important task in retaining employees is having a Compensation Management Program. McQuerry provides statistics from the U.S Small Business Administration and the U.S. Department of Labor for finding the balance in incentive programs.
Nazir, Numan. HR(2010, Feb 2) Compensation and Benefits: Definition and Importance. Retrieved from http://www.hr.com/en/app/blog/2010/02/compensation-and-benefits-definition-and-importanc_g5kiosxm.html
Compensation and benefits are often assumed as the same thing and taken for granted, this is proven wrong by Nazir. Nazir gives the definition of both compensation and benefits and both importance. Not only are benefits and compensation an advantage to the employee but to the business itself. The four categories that Nazir thinks are most beneficial to the business are Job Satisfaction, Motivation, Low Absenteeism, and Low Turnover.
Sammer, Joanne. Business Finance (2012, Jan 13) Compensation Challanges in 2012: Finding the Right Mix. Retrieved from http://businessfinancemag.com/hr/compensation-challenges-2012-finding-right-mix
Sammer's article on challenges with compensation finds that "right mix". It is discussed that many companies just can't afford pay raises. Jason Adwin of Sibson consulting group provides options for companies who are in the position not to be able to give pay increases. Change is also a topic very much talked about in the recent years. Companies must learn to embrace changes in the economy to be able to come out of the economic downturn.
Society for Human Resource Management (2015, Jan 9) Employee Compensation, Obama Administration to keep a keen eye on employer pay practices. Retrieved from http://www.shrm.org/advocacy/governmentaffairsnews/hrissuesupdatee-newsletter/pages/010915_3.aspx
Society for Human Resource Management (SHRM) provides a good article about the Obama Administration keeping an eye on the employers pay practices. SHRM is a strong supporter in nondiscrimination in compensation. They are helping the Obama Administration propose to have federal contractors pay collected and published. SHRM has come up with 3 ways to collect this data and produce " Equal Pay Reports".
Dias, L (2011) Human Resource Management. Saylor.org/books. ISBN 13: 978-1-4533194-3-7 Downloaded Jan 8, 2014 from http://open.umn.edu/opentextbook/bookdetail.aspx?bookID=71
Dias has provided many topics of Human Resource Management as a whole. Many chapters discuss retention of employees and how compensation and benefits pertain to it. There are many chapters that Dias brings back retention and how it effects many different areas of Human Resource Management.