Wage and Salary Chapter 1 - 12487 Words

Milkovich−Newman: Compensation, Eighth Edition Front Matter 1. The Pay Model  © The McGraw−Hill Companies, 2004 Chapter One The Pay Model Chapter Outline Compensation: Definition, Please? Society Stockholders Managers Employees Global Views—Vive la diffà ©rence Forms of Pay Cash Compensation: Base Cash Compensation: Merit Pay/ Cost-of-Living Adjustments Cash Compensation: Incentives Long-Term Incentives Benefits: Income Protection Benefits: Work/Life Focus Benefits: Allowances Total Earnings Opportunities: Present Value of a Stream of Earnings Relational Returns from Work The Employment Relationship Combines Transactional and Relational Returns Variations in Transactional and Relational Expectations A Pay Model Compensation†¦show more content†¦The Pay Model  © The McGraw−Hill Companies, 2004 2 Chapter 1 The Pay Model Think of all the other employees, in addition to the performers, required for putting on a performance of Cats. Electricians, trombonists, choreographers, dressers, janitors, nurses, vocal coaches, accountants, stagehands, payroll supervisors, ushers, lighting technicians, ticket sellers—the list goes on. Consider the array of wages paid to these employees. Why does the swing get paid more than other performers? Why does the performer get paid more (or less) than the trombonist? How are these decisions made, and who is involved in making them? Whether the pay is our own or someone else’s, compensation questions engage our attention. Does the compensation received by all the people connected with Cats matter? Most employers believe that how people are paid affects people’s behaviors at work, which affect an organization’s chances of success. Compensation systems can help an organization achieve and sustain competitive advantage.1 COMPENSATION: DEFINITION, PLEASE? What image does the word â€Å"compensation† bring to mind? It does not mean the same thing to everyone. Yet how people view compensation affects how they behave at work. Thus, we begin by recognizing different perspectives. Society Some people see pay as a measure of justice. For example, a comparison of earnings of women with those of men highlights what manyShow MoreRelatedEconomic Tool and Concepts1121 Words   |  5 Pagesnotable. According to Getzen (2007), â€Å"There has recently been a growing recognition that instead of a surplus, a future shortage of physicians may occur. Since the number of U.S. medical graduates has not kept pace with the growth in U.S. population† (Chapter 7, p. 161). The nursing shortage and medical providers has become extremely demanded within the health care industry to provide a quality of health care. The following information will define economic concepts such as supply curve, demand curveRead MorePayroll System1611 Words   |  7 PagesCHAPTER 1 THE BACKGROUND AND ITS SETTING âž ¢ Introduction âž ¢ Background of the Study âž ¢ Problem Definition âž ¢ Significance of the Study âž ¢ Objective of the Study âž ¢ Scope and Delimitation CHAPTER 2 EXISTING SYSTEMS OVERVIEW âž ¢ Background of the Company âž ¢ Organizational Structure and its Function to the Organization âž ¢ Existing System Overview âž ¢ Analysis for Existing System Cost Show the ff: ââ€" ª Labour Expense ââ€" ª Utilities Expense ââ€" ª RentRead MoreQuestions On The Liquidation Courts871 Words   |  4 PagesCHAPTER TEN HOW TO BANKRUPT YOUR STUDENT LOANS Everybody realizes that you can t bankrupt understudy credits. Look the web with the catchphrases chapter 11 and understudy credits and you get either numerous postings for loaning establishments attempting to motivate you to take out another advance, or you see eBooks letting you know that it is basically difficult to bankrupt your understudy advances aside from under the state of undue hardship and afterward they neglect to let you know anythingRead MoreFive Social Insurances and One Housing Fund1726 Words   |  7 PagesFive Social Insurances and One Housing Fund Table of Content Chapter 1: Introduction 3 Chapter 2: Successful of Shanghai in Five social insurances one housing fund 4 Chapter 3: Impacts on Employer 5 Chapter 4: Impacts on Employee 6 Chapter 5: Precautions of Human Resources Management 7 Reference 8 CHAPTER 1: INTRODUCTION Five social insurances and one housing fund was established under Labor Act Chapter 9 Article 73. It is used to serve the purpose on maintaining social harmony by protectingRead MoreIntermediate Accounting I Week 11364 Words   |  6 Pagesï » ¿Chapter 1 CA1-1 (FASB and Standard-Setting)  Presented below are four statements which you are to identify as true or false. If false, explain why the statement is false. 1.  GAAP is the term used to indicate the whole body of FASB authoritative literature. 2.  Any company claiming compliance with GAAP must comply with most standards and interpretations but does not have to follow the disclosure requirements. 3.  The primary governmental body that has influence over the FASB is the SEC. 4.  TheRead MoreChapter Two and Three Problems Essays983 Words   |  4 PagesChapter Two and Three Problems Please complete the following 7 exercises below in either Excel or a word document (but must be single document). You must show your work where appropriate (leaving the calculations within Excel cells is acceptable). Save the document, and submit it in the appropriate week using the Assignment Submission button. Chapter 2 Exercise 1 1. Issuance of stock Prepare journal entries to record the issuance of 100,000 shares of common stock at $20 per share for eachRead MoreCh 2 Solutions to Slr4899 Words   |  20 PagesSolutions, Chapter 2/HL ANSWERS TO CHAPTER 2 The Simple Regression Model Econometrics Economics of Innovation and Growth A = Problems B = Examples (from chapter 2) C = Cumputer Exercises 1 Solutions, Chapter 2/HL A: Problems 2.1 Let kids denote the number of children born to a woman, and let educ denote years of education for the woman. A simple model relating fertility to years of education is kids = ÃŽ ² 0 + ÃŽ ²1educ + u where u is the unobserved error. (i) (ii) What kind of factorsRead MoreThe General Theory Of Employment, Interest, And Money.1653 Words   |  7 Pageseconomics is concerned. ÃŽ » SUMMARIES Book 1 Chapter 1looks at the distinction between general theory and classical theory. It gives insights on the situations when the classical theory is applicable and when the general theory is applicable. There is much emphasis that is being given on this issue of general. It means that this theory can work in various combinations with other theories in trying to see how economics can be affected if it is put into use. Chapter 2 looks at the various postulates of theRead MoreThe Impact Of Childcare Wages On Job Satisfaction, Job Commitment, And Program Quality Essay1614 Words   |  7 PagesIn this chapter, the key findings with regard to the research questions were reviewed and broad conclusions based on the findings of the studies were described. The chapter concluded with implications and recommendations for stakeholders. The purpose of this research study was to find the impact of childcare wages on job satisfaction, job commitment, and program quality. The research questions for this study are listed below. What is the relationship between the individual wages for teachers andRead MoreFinancial Accounting Chapter 2 Assignment1276 Words   |  6 PagesCHAPTER 2: Recording Process ( SWD: Lecture Review) What is an account? An account is an accounting record of increases and decreases in a specific asset, liability, or owner’s equity item. For example, Softbyte (the company discussed in Chapter 1) would have separate accounts for Cash, Accounts Receivable, Accounts Payable, Service Revenue, and Salaries Expense. In its simplest form, an account consists of three parts: (1) a title, (2) a left or debit side, and (3) a right or credit side. Because