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Essay / Research Paper Abstract
4 pages in length. The writer discusses how the extent to which contemporary pay, evaluation and reward systems reflect an ever-changing type of business strategy is clearly apparent simply by looking at the manner in which American companies function. Bibliography lists 4 sources.
Page Count:
4 pages (~225 words per page)
File: LM1_TLCEmplComp.rtf
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Unformatted sample text from the term paper:
benefits are as important - and sometimes even more so - than the basic earned wage. Smart American companies are becoming much more open-minded in their approach to pay,
evaluation, and rewards systems in order to determine just where they stand in the highly competitive benefits market. Compensation packages - from corporate executives all the way down the
chain of commands - help employees stay afloat in an often slow or burned out economy, affording them such luxuries as insurance, counseling, daycare and other entities the typical 9-5
worker would not otherwise be able to obtain. Truly, increased benefits have proven a significant aspect of the twentieth century workplace. " At a time when workloads per
employee are increasing, it is more important than ever for employers to retain the key people with the experience and institutional knowledge that keep the business running smoothly. Voluntary
benefits can be an important tool in that effort" (Guzzetta PG). Because no two companies offer the same pay, evaluation or reward
systems, both employer and employee find it challenging to stay abreast of market trends. Some companies put more effort into pension programs, while others find there is more advantage
to increasing the level of insurance benefits. Still other corporations deem various counseling options to be of great help in keeping their employees healthy and on the job.
Which combination of compensation benefits a company offers its employee is different with every employer. There is, however, a standard group of such allowances that are typically offered by
many companies. * Paid and unpaid leave * Insurance * Personal financial planning * Retirement * Counseling (drugs, alcohol, marital, etc.) * Child and elder care * Extended vacation
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