Compensation Assignment Help
A Brief Discussion on Compensation
An employee works in an organization for some expected or agreed payment. This payment may be weekly, monthly, or as per the agreement between the employer and employee. This is normally known as compensation. However, apart from monetary compensation, employees are also given different types of non-monetary benefits such as medical insurance, house rent allowance, travelling allowance, etc. which are also considered as a part of the compensation package of an employee. When you are asked to write an assignment in this subject, you can avail Compensation assignment help of BookMyEssay. In this writing service, we are no.1 in the industry. Our best Australian writers provide top-quality, affordable, high-scoring assignments.
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Compensation Management: An Overview
Employees or human resource is the backbone of any organization. So, they should be motivated to give their best to the works they perform in the organization. It is the compensation that keeps the employees motivated and committed to the organization. Hence, compensations should be well-managed and well-organized. Normally, top-management takes the final decision in this matter, they need to consult with the HR and related departments before implementing the compensation strategy for the employees. Compensation includes many of the following: basic payment, fringe benefits, commission, overtime payment, and bonus. The basic pay and fringe benefits are normally fixed depending on the hierarchies.
Basic pay is the minimum payment given to an employee before deducting any tax. The other benefits are added to the base pay to calculate the gross salary. Base pay for the same group of employees generally remains the same. Base pay changes with seniority and hierarchy. To write an assignment related to any compensation topic, you need to understand what is the base pay and how is it calculated? In this matter, Compensation research paper writing and coursework writing experts can assist you to write the assignments efficiently if any topic seems tough to you.
The principal question is how the compensation of employees are determined? Employees’ compensation is determined in different ways. That means organizations have several choices in this respect. Our experts of Compensation dissertation thesis writing help keep in-depth knowledge in all these processes of compensation determination and management. Most popular processes are as follows:
- Research: Most organizations follow the industry rule, i.e. what other companies in the same industry pay to their respective employees. In this matter, the management has to ensure that the job titles and responsibilities are compatible with the reference organization or organizations.
- Capabilities of the employees: An employee may start with a common compensation package but the management may keep provision for better or upgraded compensation if the employees show better performance or complete a higher certification.
- Reference from previous wage or salary: Many organizations fix the compensation of an employee as per their previous compensation. This is also a common practice. The organization may either increase the amount to some extent or keep it the same.
- Adding benefits: Many organizations prefer to add benefits to the base pay and fix the compensation accordingly. They try to find what kinds of benefits would be impressive and motivating to the employees, they then design the compensation accordingly.
Just fixing the compensation is not enough. You need to know the government regulations and mandatory deductions in this matter. In many countries, there is a rule of minimum compensation for the workers, mandatory benefits for the employees, and mandatory deductions. Our experts associated with Compensation essay writing help keep themselves updated regarding these rules and regulations.
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We have hired qualified homework writers to help you. We have hired these experts from different countries and we will assign your task only to the expert who keeps strong and updated knowledge regarding compensation management related to your topic, i.e. if you are currently studying in the US, and the topic is related to compensation management in an industry or company in that country we will provide an expert belonging to the US. Our Compensation assignment writing help includes hundreds of experts from different countries. The experts ensure the following:
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