attached
5-to-7-page paper (about one of the following topics: •
E-Compensation or • Benefits B
· Include *An introduction section (required)
· 2. *History of compensation or benefits (required)
· 3. *The future of compensation or benefits (required)
· 4. *Conclusion section (required)
· 5. Anything else you feel is relevant to this topic *
· MANDATORY and must be included
· a reference page or section with a minimum of 10 references; required
· (APA style format is required).
· The Below references for E-compensation or Benefits should be use in the paper
·
Required references for “E- Compensation” papers
· Newman & Gerhart. (2020). Compensation. McGraw-Hill Irwin. 13th Edition. McGraw-Hill.
· Dulebohn, J. H., & Werling, S. E. (2007). Compensation research past, present, and future. Human Resource Management Review, 17(2), 191-207.
· Stone, D. L., Deadrick, D. L., Lukaszewski, K. M., & Johnson, R. (2015). The influence of technology on the future of human resource management. Human resource management review, 25(2), 216-231.
· Required references for “E- Benefits” papers
· Newman & Gerhart. (2020). Compensation. McGraw-Hill Irwin. 13th Edition. McGraw-Hill.
· Dulebohn, J. H., Molloy, J. C., Pichler, S. M., & Murray, B. (2009). Employee benefits: Literature review and emerging issues. Human Resource Management Review, 19(2), 86-103.
· Stone, D. L., Deadrick, D. L., Lukaszewski, K. M., & Johnson, R. (2015). The influence of technology on the future of human resource management. Human resource management review, 25(2), 216-231.
1
E-compensation
Cecelia Braima
Cleveland State University
MGT 640
Professor Dre. Wynn
Due Date
Introduction
Compensation refers to the payment offered to personnel as a form of exchange for their assistance (Newman & Gerhart, 2020). Direct pay (salaries and wages) and indirect pay (benefits packages) can be included. The history, future, and some of the benefits of the E-compensation system will be discussed in this article.
E-compensation systems are the software developed and used by firms. They are easily user-friendly by the employees through the internet from any location as far as ones connected to the internet. A formalized compensation handling program is the primary monitoring tool for ensuring that all company employees are served to satisfaction. In addition, there is the appropriate upholding of internal and external equity and proper control over the compensation expenses. A company with such a program will possibly attract the best talents, retain productive workers, and guarantee longevity while improving efficacy in using financial resources.
E-compensation is a digital tool that allows executives to more effectively develop, manage (Greene & Bryant, 2021), and communicate remuneration packages. E compensation is distinct from previous compensation solutions in that it is based on the internet rather than a client-server or stand-alone processor.
An applicable compensation handling program needs proper job analysis, assessment, and pricing (Jianping et al., 2022).). It’s also critical to maintain and upgrade the program’s features, such as wage banding, employee categorization, salary increment, performance appraisals, and longevity raises once it’s been deployed.
Compensation has an impact on employee morale and job satisfaction. Thus, there are a variety of E compensation options. These include base pay, which is the initial payment made to an employee and does not contain any benefits, incentives, or raises. It could be on a daily, weekly, or monthly basis.
Commissions, which are payments made to an employee based on a sale, are typically paid to supplement the base income (Taha, 2021). Overtime compensates for additional work completed. Bonuses are monetary rewards given to employees and their regular pay. Stock options are a type of compensation in which companies provide employees the option to buy a certain number of shares of the company’s stock at a discounted price. Finally, allowances are funds supplied for a specific necessity, such as food or housing (Quintner & Galbraith, 2022).
History of E-compensation.
Since the 1990s, most American companies’ workforce relationships have changed from long-lasting. The institution provides career supervisors (Dulebohn et al., 2007) and workers managing their vocations as they transition between numerous companies. Flatter institutions provide a managerial instrument for enticing, preserving, and inspiring the talent required to remain competitive.
Comp
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