Thursday, May 21, 2020

Compensation System Of Henderson Printing Company

Compensation system in Henderson printing company Introduction One of the important aspects of business management is having a proper compensation system. Compensation ensures that the staff of the company obtains the results of their efforts. Compensation is a cost to the enterprise and, therefore, a proper remuneration model must demonstrate its ability to produce returns. Also, since compensation is what the employees get in exchange for their services, the type used must be one that will motivate the employees (Belcourt McBey, 2015). Henderson printing company is a mid-level company. Therefore, it requires a very critical remuneration system that will help it to survive. This memo explores the compensation models that Henderson printing operates as well as suggests the necessary changes. Compensation systems that Henderson printing run Henderson printing is a mid-level company. The company operates some compensation models for its personnel. Through these models, the employees receive rewards for the labour they render to the enterprise. Henderson printing pays its employees by giving them regular salaries for their services. These are direct payments for the work they do in this company. Secondly, the employees are given pay raises even though this depends on the employee’s initiative to ask for a pay rise from the owner (Davis, 2013). Lastly, the employees are also accorded some merit bonuses every Christmas time. The merit bonuses are based on their contribution toShow MoreRelatedStrategic Compensation Henderson Printing1356 Words   |  6 Pagesï » ¿ Strategic Compensation Henderson Printing June 12 2012 Case Study Henderson Printing As a component of the structural variables in the organization of Henderson Printing the reward system is archaic and ineffective at best, it is therefore important to understand the contextual variables affecting Henderson that will determine the most appropriate managerial strategy for this organization. Of the five contextual variables, Environment is the most criticalRead MoreHrmt 326 Henderson Printing Essay1511 Words   |  7 PagesHenderson Printing Case Study Henderson Printing is a small-to medium sized firm that manufactures account books, ledgers, and various types of record books that are used in business (Long, 2010, p. 512). This company’s compensation system will be analyzed based on the five contextual variables as discussed in the textbook. The environment in which Henderson Printing operates can be classified as stable, as well as simple. This can be justified, as the company produces stable annual sales, thusRead MoreEvolution of Accounting Thought6174 Words   |  25 Pagesthe first to have appeared. Picture writing systems are known to have existed as early as the 7th millennium BC (early Neolithic period). rd The parable of the talents in the bible indicates that people at the time of Christ were aware of the notion of the productivity of capital, and were aware of the existence of, and need for, recordkeeping: this parable has given us the term ‘stewardship function’. In Asia, people of ancient cultures developed systems of accounting and auditing. ArchaeologicalRead MoreWorkplace Violence10377 Words   |  42 Pages Cost of Workplace Violence The cost of a violent event is not limited to the loss of life. The costs associated with incidents of workplace violence consist of both hidden and highly visible items, and the total cost can be very high. Every company with employees would be well advised to factor in cost from the following areas when trying to anticipate any cost associated with the aftermath of a violent event: additional security immediately following a violent event, building repair and cleanRead MoreCostco: Internal/External Analysis Essay7782 Words   |  32 PagesBargaining Power of Buyers †¢ The Bargaining Power of Suppliers †¢ The Threat of Substitute Products and Services †¢ Intensity of Rivalry †¢ Value Net †¢ Strategic Groups Within an Industry Appendix A Financial Reports, Financial Highlights Company Time Line Map of Locations Photos Internal Analysis About Costco Costco Wholesale Corporation operates an international chain of membership warehouses, mainly under the Costco Wholesale name, that carry quality, brand name merchandise atRead MoreHuman Resources Management150900 Words   |  604 Pagesjoint venture between General Electric and a Japanese company, GE Fanuc is a manufacturer of factory automation and control products. Headquartered in Virginia with 1,500 employees, the HR department primarily performed administrative support activities. But when Donald Borwhat, Jr., took over as Senior Vice President of Human Resources, he and his staff began by restructuring and decentralizing the HR entity so that each functional area of the company has an HR manager assigned to it. The HR managersRead MoreFundamentals of Hrm263904 Words   |  1056 PagesCourier/Kendallville. The cover was printed by Courier/Kendallville. This book is printed on acid free paper. Copyright  © 2010, 2007, 2005, 2002 John Wiley Sons, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning or otherwise, except as permitted under Sections 107 or 108 of the 1976 United States Copyright Act, without either the prior written permissionRead MoreEssentials of Contemporary Management7571 Words   |  31 PagesContemporary Management Second Canadian Edition Copyright  © 2005, 2002 by McGraw-Hill Ryerson Limited, a Subsidiary of The McGraw-Hill Companies. All rights reserved. Copyright  © 2003, 2000, 1998 by The McGraw-Hill Companies. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means, or stored in a data base or retrieval system, without the prior written permission of McGraw-Hill Ryerson Limited, or in the case of photocopying or other reprographic copyingRead MoreHealthcare Essay18323 Words   |  74 Pagesof the US health care delivery system To evaluate why the system has been resistant to national health insurance reforms To explore developments associated with the corporatization of health care To speculate on whether the era of socialized medicine has dawned in the United States â€Å"Where’s the market?† 81 26501_CH03_FINAL.indd 81 7/27/11 10:31:29 AM 82 CHAPTER 3 The Evolution of Health Services in the United States Introduction The health care delivery system of the United States evolvedRead MoreNature of Strategic Management13243 Words   |  53 Pagesbox is provided in all chapters of this text to emphasize the importance of global factors in strategic management. A second theme is that electronic commerce (e-commerce) has become a vital strategic-management tool. An increasing number of companies are gaining a competitive advantage by using the Internet for direct selling and for communication with suppliers, customers, creditors, partners, shareholders, clients, and competitors who may be dispersed globally. E-commerce allows firms to sell

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.