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Compensation models in business corporations
The topic of compensation is usually complicated, emotionally charged and also misunderstood in corporate governance. The paper has analyzed how effective implementation of compensation models catalyzes individual and professional growth and inspires the enhancement of motivation, performance and morale in the workplace.
|language || ||english
|wordcount || ||3189 (cca 9 pages)
|contextual quality || ||N/A
|language level || ||N/A
|price || ||free
|sources || ||1
Table of contents
Compensation models 2
Work cited 13
Preview of the essay: Compensation models in business corporations
Compensation models in business corporations Introduction The top executives in business corporations contribute considerably to the success of the organizations that they work for. This is achieved through the provision of basic salary, bonuses, options, shares, among other benefits. There has been an increment in compensation of executives in the recent past that surpassed the average wage level of workers. This is an issue of importance in the corporate governance in the company and the determination of its implementation is the responsibility of the board of directors of the company. Typically, the majority of the companies’ CEO in addition to the rest of the top executives receives some short-term incentives as well as bonuses in addition to their basic salary. The combination of this compensation is the “Total Cash Compensation” (TCC) (Chingos 36). The short term ...
... cons of diverse models of compensation are comprehensively understood and the most appropriate package of compensation clearly understood to erode the daunts associated with the issue. It is therefore the duty of the organization to embrace the existing time and opportunity in the planning and development of a system of management of an effective strategy of compensation. The objectives of the employer and those ones of the employee share some common elements that must be achieved. Communication, modification and planning are the most important componentss for an effective model of compensation. The achievement of success in modeling a compensation plan depends on the extent of study, reading and evaluation of diverse ideas in consideration of the fact that there is no perfect model.
Essay is in categories
Different companies use different compensation models. However, one thing should be common to all: the compensation model must not be against law, morals or public policy.