Employee Compensation and Benefits Assignment Example | Topics and Well Written Essays - 500 words

Employee Compensation and Benefits - Assignment Example In this case, subordinates like a secretary earns within the lower range. The wages will be paid every Sunday of every week and the amount of wages per worker will be reviewed annually based on the prevailing inflation rates of the country, performance measures and amount of profits earned in the company (Trani, 2003). Bonus payments will be paid to employees who perform exceptionally. The secretary will therefore earn a bonus if customers provide a positive feedback about her. Performance management system of the company will appraise the performance of the secretary annually and provide bonuses based on the performance rankings and ratings. The bonus will be provided in cash basis determined as a percentage of salary. The bonus is paid based on appraisal of the employee’s performance in terms of the speed of performing tasks, level of organisation during employee training, and how the secretary treats applicants when they come for interview. The employee benefits of the secretary will include healthcare benefits, disability insurance and retirement benefits, and will be paid to the secretary just like any other employee of the organization. 2.5 percent of secretary’s weekly wages will be deducted to cover for monthly premium of the employee’s healthcare and the remaining amount of monthly premium is paid by the business to cover for the secretary’s healthcare benefits (Goldman et al, 2005). If the secretary is not able to work on a short term basis due to disability, the business provides 50% of income (pre-disability wages) as part of her benefits package. This is based on the requirement of the Bureau of Labor Statistics’ fixed percentage earnings which requires 50%-70% of employee’s predetermined salary to be paid as disability insurance (Bureau of Labor Statistics, 2013). This will be paid every

Reflection Coursework Example | Topics and Well Written Essays - 750 words

Reflection - Coursework Example The activity was followed by general descriptions and history of the consulting profession. It was quite fascinating to realize the growing emergence and increasing demand of consultants in the era when many professions are suffering from the economic downturn and devaluation. Further study on the demand of consultants leads to the fact that, in the sectors of education, IT, health care and business investment plans, growing prominence of consultant’s involvement can be clearly seen (Campus Explorer, 2012). According to a recent research, consulting is one of the highly paid and in-demand professions in many parts of the world, and there is a high probability of its further emergence in the coming years (Monegain, 2012). The reason being that, companies and individuals, looking for workable and cost effective solutions for their business or career, prefer paying to the consultant, than to pay heavily for the loss by a wrong decision. Therefore, with growing business and career s options, the need of a consultant is also rising (Campus Explorer, 2012). The workshop also explored various career options that can be opted in the field of consulting as per a person’s interest and forte. This part of the workshop broadens my perspective about consultation, which was to me limited to career and property consultation. Being inclined towards finance and marketing, I learnt that I can expand my career after getting higher education and relevant field knowledge (Bevitt, 2008). This would open room for me to work as a finance and marketing consultant for many giant companies. The next section catered skills and qualities that are required for consulting profession and questions that a person must now, before choosing it a profession. It can be better understand by the help of SOAR model, which defines that, a person to have self-awareness of his interest and potential. The person should have the courage to bear any obstacle in the process and keep moving to ac hieve success with a vision to reach for the stars. Hence a consultant is a demanding career, where the fruit might take some time to ripe (Kumar, 2007). Other than the secular aspect, a light on personality aspects was also thrown in the workshop. In the process of studying and practicing consulting profession, a person goes through education, psychological and social advancement in his personality. This profession helps one to be analytical, which will not only help in making smart business moves, but will also prove helpful in making everyday solutions (Baruch, 2004) (Herbert & Rothwell, 2004). Brief information about certified diplomas and degree programs was provided in the closing section of the workshop. The course of Certifies Business Adviser, one of my personal interests was quite beneficial in showing steps and path for this career. Several jobs and learning opportunities were also highlighted with each program. Thorough evaluation of Business Advisor career leads to the fact that it is one of the careers, enrich in its nature and field of application. Therefore, its course also covers diversified topics and fields (Certifgied Business Advisor, 2012). Marketing, human resource management and finance are its major fields, which covers almost all aspects of modern businesses and customer needs. Elements of Entrepreneurship and Intellectual Property Protection make the course even more challenging, and growth