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Essay / Research Paper Abstract
This 5 page paper looks at the way a firm can design a compensation package, considering the way a package can be developed that is seen as fair by the employees and supports loyalty and productivity at the same time as being cost effective. The bibliography cites 4 sources.
Page Count:
5 pages (~225 words per page)
File: TS14_TEtotcomp.rtf
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Unformatted sample text from the term paper:
has been noted in research that one of the main issue in terms of compensation is the trust gap, this occurs where the employees are told that the rim cannot
afford high salary increases but see the senior management receiving them. This may also be applied to the way that they receive, or do not receive other benefits. In order
to assess a potential compensation package the underlying theories that will be applied to the way that the package is received needs to be considered.
Equity theory, based on social exchange theory, was first proposed by Adams (1965) is a way of explaining how employees judged the way in which they are
treated and determine whether or not it is fair, and determine the way that they feel they should be rewarded. There is a wealth of literature that indicates where employees
feel that they are treated unfairly, whether it is in terms of remuneration levels, management attitude towards employees or poor working conditions.
Adams argues thats employees will determine whether or not the compensation they receive for their work is fair in comparison to other employees, the whether the effort they are putting
in and the remuneration are a fair balance. Where there is deemed to be an inequality this will have a negative impact on the levels of motivation (Adams, 1965). The
undertaking, possibly subconsciously, to create a cognitive ratio of the input compared to the output, which is then examined in the context of other employees is the core internal calculation.
There are a number of inputs into this calculation, the concept of fairness include factors such as an individuals knowledge, the training they
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