Pay Model Government and Legal Issues Research Paper

Pages: 10 (4353 words)  ·  Bibliography Sources: 10  ·  File: .docx  ·  Level: Master's  ·  Topic: Careers

¶ … Pay Model

Government and Legal Issues in Compensation

Milkovich Newman & Gerhart Chapters 1 and 17

What is the nature of government's role in compensation?

This conference was very interesting because it talked about how the government is involved with the minimum wage and also the minimum wage earnings for particular professions for instance those that would work blue color jobs, or basically people that are working in the manufacturing business like Proctor & Gamble or work on the lines. The conference talked about the significance of the payroll. It made the point that payroll is mostly the biggest expenditure of any company. Besides to paying the higher income, bosses have to make sure that the match the workers Social Security and Medicare are matched properly and also that the donations that mainly go up with every part of the raise because those taxes are founded on the proportion of how much all of the employees are actually making.

(2) Explain why changes in minimum wage can affect higher-paid employees as well

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Many according to the conference do not have a clue about the changes in minimum wage affects employees that get more money or just basically higher-paid. For instance, we learned that if there is some kind of raise in the minimum wage level, then people who work at the higher positions that get paid way more will also get a bump in their salary. Why? Well, because the method to the madness behind this is to make sure that those that are at the minimum wage level will never make the same as those that get paid really well.

Moreover, when the minimum wages increase those receiving the minimum wages get improved opportunities for getting training and this increases the supply of higher-paid employees. Further, when the employers face an increase in the minimum wages they not only prune the number of workers who are being paid the minimum wages but also reduce certain benefits of all workers (Pudney & Shields, 2000). They try to adjust their costs to the previous levels and this hurts the higher paid employees as well.

TOPIC: Research Paper on Pay Model Government and Legal Issues in Assignment

Week 2 Conference

Mon. 2/11 to Sun. 2/17

Totality of Decisions Defining Internal Alignment

Milkovich Newman & Gerhart Chapters 2 and 3

Low Pay High Committeemen

In this week's conference, they talked about how jobs that have a lot of stress involved actually are the ones that do not pay anything. All of their sweat, blood and tears are for nothing because the pay is so low. This causes a lot of stress on these types of jobs. For instance, those that are school teachers are a good example. This is a very stressful job with very low pay. The only way you can advance in this career is by going back to school to get a higher degree. Teaching is a much tensioned type of job because of the hassle of dealing with students that do not want to learn. However, other jobs such as social worker, police officers, and firefighters are much more stressful because these jobs require you to put your life on the line. They are very tense jobs, which get paid les

Low Pay Low Commitment

In this section talks about jobs that do not last very long. These are type of jobs that last for a few months or in some cases a few days.

High Pay High Commitment

These are the jobs that pay a lot of money and are considered to be professional jobs that require that a person have some kind of education and time commitment. For instance, doctors and people that have top notch jobs that work tough hours through -- these jobs are known to have higher gratification levels but very high stress. These kind of occupations to provide a high level of intellectual fulfillment, and, for the reason that more education classically outcomes with a person having a good high paying job where they are able to feel more happy and justly remunerated.

Week 3 Conference

Mon. 2/18 to Sun. 2/24

Job Analysis and Job-Based Structures and Job Evaluation

Milkovich Newman & Gerhart Chapter 4 and 5

Identify examples of pay practices that may seem to be Egalitarian in nature.

Employees that are involved in an egalitarian organization are the ones that have job descriptions that are seen as general instead of being the specific ones. As opposed to reporting to some that is in a more greater position, mostly every one of the workers that are in the egalitarian organizations work together on various types of jobs and also conduct themselves as being equals. These type of jobs can be in place like sales, or even just working somewhere in a bank where the entire corporation is working together in order to get to the same outcomes.

Provide examples of pay practices that may appear to be Hierarchical in nature.

There are so many types of jobs that have this type of hierarchy. What happens is that at corporation such as Proctor & Gamble, most of each employee will function under a certain description of job. Each worker also has to be able to report to somebody that is in charge of everyone else that will supervise and evaluate the advancement and subjects instructions.

Week 4 Conference

Mon. 2/25 to Sun. 3/3

Person-Based Structures and Defining Competitiveness

Milkovich Newman & Gerhart Chapters 6 and 7

In the conference, it made the point that the Compensating Differential is characterized by the quantity of income that for instance Pizza Hut pays more or less than Mcdonald's on the grounds of the value of non? monetary rewards which are given to the worker in that was at Pizza Hut by the company and/or the working situation in contrast to the worth of the non? monetary rewards that Job B. provides. For instance, soldier in the military. It is enjoyable working setting however it has negative reward because to die for your country and to go to wars is cheap labor.

In the conference, they also taught about the Efficiency wage model. The Efficiency wage model proclaims that the production of workers in companies is clearly connected with the salaries they obtain. Signaling theory is beneficial for telling behavior when two parties (individuals or groups) are able to obtain sometime type of admission to various information. Classically, one party, the sender, will have to pick the way and how they are going to converse (or gesture) that data, and other parties that may be involved, the party that is getting the information have to be the ones, that will have to choose how to read the signal.

When it comes to Reservation wage which is the lowest wage that a person will decide to work for, it was mentioned that a lot of employees will work for less because they are desperate and understand that they have to make ends meet. In the time of recession, many Americans are having to settle for whatever they can even if it means staying at minimum wage forever. When it comes to Human capital which refers to the stock of skills and knowledge exemplified in the aptitude to achieve labor in order to create financial worth. It is the knowledge and skills gained by a worker through education and experience. There are also economic theories that came from previous times that denote to it simply as employees, one of three aspects of manufacture, and expect it to be a fungible resource which means that it would need to be similar and simply switchable.

Week 5 Conference

Mon. 3/4 to Sun. 3/10

Designing Pay Levels, Mix and Pay Structures

Milkovich Newman & Gerhart Chapter 8

When it got to chapter 8, there were many interesting things that were learned. For one, this chapter discussed what were called the seven major decisions that were involved in setting outwardly competitive pay and planning the conforming structures of pay. One of these is the specifying employer's external/competitive pay policy which is something that is not done properly in some companies. The second one is being able to define the purpose of the survey. This is important so that the company is able to know what is going on inside it with the employees. The third one involves selecting the relevant market competitors and this is vital because the company needs to know who their rivalries are in the competition. The fourth has a lot to do with designing and conducting surveys which is important in order to get a good evaluation of the working environment. Also, interpreting survey results and constructing the market line is very vital as well for and corporation because if it is not done, it can collect large commission costs and a material tax liability. The sixth one is called the constructing a pay policy line that imitates the external pay rule. This is significant to have because without it employees may not understand the pay process in the… [END OF PREVIEW] . . . READ MORE

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