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Please look at the two slide decks and answer the questions in
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What is the relevance of labor unions in today?s workplace?

Would you consider joining a union? Why or why not?

(Please look over slides and reference them in response)


Please type in APA format 

look at weekly rubric. minimum 600 words


COMPENSATION Importance

 

Importance of

 

of Compensation

 

Compensation

 

?? Impacts

 

Impacts employer?s

 

employer?s ability

 

ability to

 

to attract

 

attract &

 

&retain

 

retain

 

employees

 

employees

 

?? Ensure

 

Ensure optimal

 

optimal levels

 

levels of

 

of employee

 

employee performance

 

performance in

 

in

 

meeting

 

meeting organization?s

 

organization?s strategic

 

strategic objectives

 

objectives

 

?? Compensation?s

 

Compensation?s components

 

components

 

?? Direct

 

Direct compensation

 

compensation in

 

in wages

 

wages or

 

or salary

 

salary

 

?? Base

 

Basepay

 

pay(hourly,

 

(hourly,weekly,

 

weekly,monthly)

 

monthly)

 

?? Incentives

 

Incentives(sales

 

(salesbonuses

 

bonuses&/or

 

&/orcommissions)

 

commissions) ?? Indirect

 

Indirect compensation

 

compensation in

 

in form

 

form of

 

of benefits

 

benefits

 

?? Legally

 

Legallyrequired

 

requiredbenefits

 

benefits(e.g.,

 

(e.g.,Social

 

SocialSecurity)

 

Security)

 

?? Optional

 

Optional(e.g.,

 

(e.g.,group

 

grouphealth

 

healthbenefits)

 

benefits) Internal

 

Internal Equity

 

Equity ?? Fairness

 

Fairness of

 

of pay

 

pay differentials

 

differentials

 

between

 

between different

 

different jobs

 

jobs in

 

in

 

organization

 

organization

 

?? Established

 

Established by

 

by job

 

job ranking,

 

ranking, job

 

job

 

classification,

 

classification, point

 

point systems

 

systems or

 

or

 

factor

 

factor comparisons

 

comparisons External

 

External Equity

 

Equity

 

?? Fairness

 

Fairness of

 

of organizational

 

organizational

 

compensation

 

compensation levels

 

levels relative

 

relative to

 

to

 

external

 

external compensation

 

compensation

 

?? Assessed

 

Assessed by

 

by collecting

 

collecting wage

 

wage &

 

& salary

 

salary

 

information

 

information to

 

to guide

 

guide in

 

in setting

 

setting

 

organization?s

 

organization?s pay

 

pay strategy

 

strategy to

 

to lead,

 

lead,

 

meet

 

meet or

 

or lag

 

lag labor

 

labor market

 

market wages

 

wages Individual

 

Individual Equity

 

Equity

 

?? Fairness

 

Fairnessabout

 

aboutpay

 

pay differentials

 

differentialsamong

 

amongindividuals

 

individualsin

 

in

 

same

 

samejob

 

job

 

?? Established

 

Establishedby

 

by using

 

using ?? Seniority-based

 

Seniority-based pay

 

pay systems:

 

systems: Reward

 

Reward longevity

 

longevity

 

?? Merit-based

 

Merit-based pay

 

pay systems:

 

systems: Reward

 

Reward employee

 

employee

 

performance

 

performance

 

?? Incentive

 

Incentive plans:

 

plans: Employees

 

Employees receive

 

receive part

 

part of

 

of

 

compensation

 

compensation based

 

based on

 

on performance

 

performance

 

?? Skills-based

 

Skills-based pay

 

pay systems:

 

systems: Compensation

 

Compensation based

 

based

 

on

 

on employees

 

employees possessing

 

possessing skills

 

skills that

 

that firm

 

firm values

 

values

 

?? Team-based

 

Team-based pay

 

pay plans:

 

plans: Encourage

 

Encourage cooperation

 

cooperation

 

&

 

& flexibility

 

flexibility External

 

External Equity

 

Equity

 

?? Collect

 

Collect wage

 

wage &

 

& salary

 

salary information

 

information to

 

to

 

determine

 

determine market

 

market wage

 

wage rates

 

rates

 

?? Also

 

Also consider

 

consider other

 

other forms

 

forms of

 

of compensation

 

compensation

 

?? Determine

 

Determine pay

 

pay strategy

 

strategy relative

 

relative to

 

to market

 

market External

 

External Equity

 

Equity

 

?? Lag

 

Lagpolicy

 

policy ?? Lower

 

Lower wages

 

wages than

 

than

 

competitors,

 

competitors,

 

compensates

 

compensates

 

employees

 

employees through

 

through

 

other

 

other means

 

means

 

?? Opportunity

 

Opportunityfor

 

for

 

advancement

 

advancement

 

?? Incentive

 

Incentiveplans

 

plans

 

?? Good

 

Goodlocation

 

location

 

?? Good

 

Goodworking

 

working

 

conditions

 

conditions

 

?? Employment

 

Employmentsecurity

 

security ?? Market

 

Marketpolicy

 

policy ?? Wages

 

Wages equal

 

equal to

 

to

 

competitors

 

competitors

 

?? Neutralizes

 

Neutralizes pay

 

pay as

 

as

 

factor

 

factor ?? Lead

 

Leadpolicy

 

policy ?? Higher

 

Higher wages

 

wages than

 

than

 

competitors

 

competitors to

 

to

 

ensure

 

ensure

 

organization

 

organization

 

becomes

 

becomes employer

 

employer

 

of

 

of choice

 

choice Individual

 

Individual Equity

 

Equity

 

?? Basing

 

Basing pay

 

pay on

 

on seniority

 

seniority

 

?? Merit

 

Merit pay

 

pay systems

 

systems

 

?? Incentive

 

Incentive pay

 

pay ?? Returns

 

Returns financial

 

financial rewards

 

rewards to

 

to employees

 

employees

 

responsible

 

responsible for

 

for creating

 

creating them

 

them

 

?? Allows

 

Allows organizations

 

organizations to

 

to adjust

 

adjust

 

compensation

 

compensation expenses

 

expenses based

 

based on

 

on

 

organization

 

organization performance

 

performance

 

?? Variety

 

Variety of

 

of forms

 

forms

 

?? Tied

 

Tied to

 

to employee?s,

 

employee?s, work

 

work unit?s,

 

unit?s, or

 

or

 

organization?s

 

organization?s results

 

results Individual

 

Individual Equity

 

Equity

 

?? Skill-based

 

Skill-based pay

 

pay systems

 

systems ?? Base

 

Base compensation

 

compensation on

 

on acquisition

 

acquisition &

 

&

 

mastery

 

mastery of

 

of skills

 

skills

 

?? Give

 

Give employees

 

employees incentives

 

incentives to

 

to learn

 

learn

 

?? Promote

 

Promote flexibility

 

flexibility

 

?? Easily

 

Easily linked

 

linked with

 

with training

 

training programs

 

programs

 

&

 

& strategic

 

strategic needs

 

needs Individual

 

Individual Equity

 

Equity

 

?? Team-based

 

Team-basedpay

 

pay plans

 

plans ?? Can

 

Can be

 

be less

 

less time-consuming

 

time-consuming than

 

than

 

administering

 

administering individual

 

individual reward

 

reward systems

 

systems

 

?? May

 

May impact

 

impact group

 

group dynamics

 

dynamics

 

?? Can

 

Can adversely

 

adversely impact

 

impact &

 

& intensify

 

intensify conflict

 

conflict

 

?? Need

 

Need decentralized

 

decentralized decision-making

 

decision-making system

 

system

 

?? Need

 

Need high

 

high level

 

level of

 

of communication

 

communication with

 

with

 

employees

 

employees

 

?? Employees

 

Employees should

 

should have

 

have voice

 

voice &

 

& provide

 

provide input

 

input

 

into

 

into design

 

design

 

?? Team

 

Team members

 

members need

 

need to

 

to feel

 

feel system

 

system is

 

is fair

 

fair &

 

&

 

equitable

 

equitable Legal

 

Legal Issues

 

Issues in

 

in Compensation

 

Compensation

 

?? Title

 

TitleVII

 

VIIof

 

ofCivil

 

CivilRights

 

RightsAct

 

Actof

 

of1964

 

1964 ?? Protects

 

Protects workers

 

workers rights

 

rights to

 

to fair

 

fair treatment

 

treatment ?? Equal

 

EqualPay

 

PayAct

 

Actof

 

of1963

 

1963 ?? Requires

 

Requires equal

 

equal pay

 

pay for

 

for equal

 

equal work

 

work ?? Comparable

 

Comparableworth

 

worth ?? Argues

 

Argues that

 

that standards

 

standards of

 

of equal

 

equal pay

 

pay for

 

for equal

 

equal

 

work

 

work should

 

should be

 

be replaced

 

replaced with

 

with doctrine

 

doctrine of

 

of equal

 

equal

 

pay

 

pay for

 

for equal

 

equal value

 

value

 

?? Objective,

 

Objective, measurable

 

measurable data

 

data to

 

to support

 

support

 

assessment

 

assessment of

 

of value

 

value of

 

of different

 

different jobs

 

jobs is

 

is lacking

 

lacking

 

?? No

 

No basis

 

basis in

 

in current

 

current law

 

law for

 

for arguments

 

arguments of

 

of

 

comparable

 

comparable worth

 

worth Legal

 

Legal Issues

 

Issues in

 

in Compensation

 

Compensation ??Fair

 

Fair Labor

 

Labor Standards

 

StandardsAct

 

Act of

 

of 1938

 

1938

 

??Regulates

 

Regulates minimum

 

minimum wage

 

wage

 

??Sets

 

Sets overtime

 

overtime policy

 

policy

 

??Establishes

 

Establishes exempt

 

exempt classes

 

classes for

 

for

 

managers

 

managers &

 

& other

 

other professional

 

professional

 

employees

 

employees Executive

 

Executive Compensation

 

Compensation

 

?? No

 

No real

 

real average

 

average or

 

or standard

 

standard

 

?? Typical

 

Typical annual

 

annual compensation

 

compensation for

 

for senior

 

senior

 

executives

 

executives

 

?? 20%

 

20% salary

 

salary

 

?? 30%

 

30% annual

 

annual incentives

 

incentives

 

?? 50%

 

50% long-term

 

long-term incentives

 

incentives Executive

 

Executive Compensation

 

Compensation

 

?? Stock

 

StockGrants

 

Grants ?? Require

 

Require organization

 

organization meet

 

meet specific

 

specific financial

 

financial goals

 

goals ?? Stock

 

StockOptions

 

Options ?? Provide

 

Provide opportunity

 

opportunity to

 

to purchase

 

purchase shares

 

shares at

 

at some

 

some

 

future

 

future date,

 

date, at

 

at price

 

price determined

 

determined when

 

when options

 

options are

 

are

 

awarded

 

awarded

 

?? Focus

 

Focus employee

 

employee attention

 

attention on

 

on creating

 

creating shareholder

 

shareholder

 

value

 

value

 

?? Do

 

Do not

 

not have

 

have to

 

to be

 

be reported

 

reported as

 

as expenses

 

expenses

 

?? Can

 

Can create

 

create culture

 

culture obsessed

 

obsessed with

 

with improving

 

improving stock

 

stock

 

performance

 

performance at

 

atexpense

 

expense of

 

of other

 

other concerns

 

concerns

 

?? Can

 

Can prompt

 

prompt executives

 

executives to

 

to engage

 

engage in

 

in creative

 

creative

 

accounting

 

accounting practices

 

practices Key

 

Key Strategic

 

Strategic Issues

 

Issues in

 

in

 

Compensation

 

Compensation

 

?? Determining

 

Determining compensation

 

compensation relative

 

relative to

 

to market

 

market

 

?? Balance

 

Balance between

 

between fixed

 

fixed &

 

&variable

 

variable compensation

 

compensation

 

?? Deciding

 

Deciding whether

 

whether or

 

or not

 

not to

 

to utilize

 

utilize team-based

 

team-based

 

versus

 

versus individual

 

individual pay

 

pay

 

?? Creating

 

Creating appropriate

 

appropriate mix

 

mix of

 

offinancial

 

financial &

 

&nonnonfinancial

 

financial compensation

 

compensation

 

?? Developing

 

Developing cost-effective

 

cost-effective compensation

 

compensation program

 

program

 

resulting

 

resulting in

 

in high

 

high performance

 

performance Reading

 

Reading11.1

 

11.1 Exposing

 

Exposing Pay

 

Pay Secrecy

 

Secrecy

 

?? Pay

 

Paysecrecy

 

secrecyessentially

 

essentiallyisisaapolicy

 

policywhich

 

whichrestricts

 

restrictsthe

 

theamount

 

amountof

 

of

 

information

 

informationemployees

 

employeesare

 

areprovided

 

providedabout

 

aboutregarding

 

regardingwhat

 

whattheir

 

theircocoworkers

 

workersare

 

arepaid

 

paid

 

?? Whether

 

Whetherpay

 

paysecrecy

 

secrecybenefits

 

benefitsor

 

orisisdetrimental

 

detrimentaltotoan

 

anorganization

 

organization

 

depends

 

dependson

 

onaavariety

 

varietyof

 

offactors

 

factors

 

?? ItItisisbest

 

bestunderstood

 

understoodas

 

asaacontinuum

 

continuumrather

 

ratherthan

 

thanan

 

anall-or-nothing

 

all-or-nothing

 

construct

 

construct

 

?? Employers

 

Employerscould

 

couldhave

 

havevarying

 

varyinglevels

 

levelsof

 

ofpay

 

paysecrecy

 

secrecy

 

?? ItItalso

 

alsoisisrelated

 

relatedtotoemployee

 

employeeprivacy

 

privacyissues,

 

issues,which

 

whichhave

 

havebecome

 

becomemuch

 

much

 

more

 

moreprevalent

 

prevalentininrecent

 

recentyears

 

years Reading

 

Reading11.1

 

11.1 Exposing

 

Exposing Pay

 

Pay Secrecy

 

Secrecy

 

Costs

 

Costsof

 

ofpay

 

paysecrecy

 

secrecyinclude

 

include

 

1)

 

1)employee

 

employeejudgments

 

judgmentsabout

 

aboutfairness

 

fairnessand

 

andtheir

 

theirperceptions

 

perceptions

 

of

 

oftrust

 

trustmay

 

maybe

 

besacrificed

 

sacrificed

 

2)

 

2)employee

 

employeeperformance

 

performancemotivation

 

motivationcan

 

canbe

 

beexpected

 

expectedto

 

to

 

decrease

 

decrease

 

3)

 

3)from

 

froman

 

aneconomics

 

economicsperspective,

 

perspective,the

 

thelabor

 

labormarket

 

marketmay

 

maybe

 

be

 

less

 

lessefficient

 

efficientbecause

 

becauseemployees

 

employeeswill

 

willnot

 

notmove

 

moveto

 

totheir

 

their

 

highest

 

highestvalued

 

valueduse

 

use Reading

 

Reading11.1

 

11.1 Exposing

 

Exposing Pay

 

Pay Secrecy

 

Secrecy

 

Benefits

 

Benefits of

 

of pay

 

pay secrecy

 

secrecy include

 

include

 

?? organizational

 

organizational control

 

control

 

?? protection

 

protection of

 

of privacy

 

privacy

 

?? decreased

 

decreased labor

 

labor mobility

 

mobility Reading

 

Reading11.1

 

11.1 Exposing

 

Exposing Pay

 

Pay Secrecy

 

Secrecy

 

Factors

 

Factorswhich

 

whichinfluence

 

influencethe

 

thecost-benefit

 

cost-benefittradeoff

 

tradeoffof

 

ofpay

 

paysecrecy

 

secrecyfor

 

foran

 

an

 

individual

 

individualemployer:

 

employer:

 

1)

 

1)nature

 

natureof

 

ofhuman

 

humancapital

 

capital(firm-specific

 

(firm-specificversus

 

versusgeneral)

 

general)

 

2)

 

2)criteria

 

criteriafor

 

forpay

 

payallocation

 

allocation(objective

 

(objectiveversus

 

versussubjective)

 

subjective)

 

3)

 

3)gauging

 

gaugingof

 

ofrelative

 

relativepay

 

paystatus

 

status(individual

 

(individualemployee

 

employee?guesses?

 

?guesses?where

 

where

 

they

 

theystand

 

standor

 

orrank

 

rankininthe

 

theorganization?s

 

organization?srelative

 

relativepay

 

paydistribution)

 

distribution) Reading

 

Reading11.2

 

11.2?The

 

?TheDevelopment

 

Developmentof

 

ofaaPay-for-Performance

 

Pay-for-Performance

 

Appraisal

 

AppraisalSystem

 

Systemfor

 

forMunicipal

 

MunicipalAgencies

 

Agencies::AACase

 

CaseStudy

 

Study Despite

 

Despiteits

 

itsimportance,

 

importance,both

 

bothemployees

 

employeesand

 

andmanagement

 

management

 

often

 

oftenview

 

viewthe

 

theperformance

 

performanceappraisal

 

appraisalprocess

 

processas

 

asfrustrating

 

frustrating

 

and

 

andunfair.

 

unfair.These

 

Thesefrustrations

 

frustrationsare

 

arelargely

 

largelyattributed

 

attributedto

 

toaa

 

reliance

 

relianceon

 

onperformance

 

performanceappraisal

 

appraisalinstruments

 

instrumentsthat

 

that

 

??are

 

arenot

 

notjob

 

jobrelated

 

related

 

??have

 

haveconfusing

 

confusingor

 

orunclear

 

unclearrating

 

ratinglevels,

 

levels,and

 

and

 

??are

 

areviewed

 

viewedas

 

assubjective

 

subjectiveand

 

andbiased

 

biased Reading

 

Reading11.2

 

11.2?The

 

?TheDevelopment

 

Developmentof

 

ofaaPay-for-Performance

 

Pay-for-Performance

 

Appraisal

 

AppraisalSystem

 

Systemfor

 

forMunicipal

 

MunicipalAgencies

 

Agencies::AACase

 

CaseStudy

 

Study Steps

 

StepsTaken

 

Taken in

 

inDefining

 

Defining Job

 

Job Performance

 

Performanceand

 

and the

 

the

 

Creation

 

Creation of

 

of an

 

anAppraisal

 

Appraisal Instrument

 

Instrument

 

Step

 

Step #1:

 

#1: Job

 

Job analysis

 

analysis

 

Step

 

Step #2:

 

#2: Rating

 

Rating of

 

oftasks

 

tasks

 

Step

 

Step #3:

 

#3: Creation

 

Creation of

 

ofappraisal

 

appraisal instrument

 

instrument

 

Step

 

Step #4:

 

#4: Identifying

 

Identifying raters

 

raters

 

Step

 

Step #5:

 

#5: Rater

 

Rater training

 

training

 

Step

 

Step #6:

 

#6: Performance

 

Performance appraisal

 

appraisal interview

 

interview

 







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