MANAGEMENT

Management

Management

Introduction

The compensation (wages, salaries, benefits) is the gratification that employees receive in exchange for their work. The administration of the personnel department to ensure the satisfaction of employees, which turn helps the organization to obtain, maintain and retain a productive workforce. The results of the dissatisfaction can affect the productivity of the organization and produce deterioration in the quality of working environment. In severe cases, the desire for better compensation can decrease performance, increase the level of complaints, or lead employees to seek employment in different companies. In addition, low interest function can lead to poorly compensated absenteeism and other forms of passive protest. In this report, we will discuss the concept of Manager Compensation in a holistic context.

Objectives of management compensation

The objective of compensation for the managers of the company is to provide them proper returns for the work that they are doing for the company. Below, we have discussed some of the main objectives of Manager Compensation (Bogle 2008, 22).

Acquisition of qualified personnel

Compensation must be high enough to attract applicants.

Retain these Managers, when the levels of compensation are not competitive, rate of rotation increases.

Control costs. A competitive compensation program helps the organization obtain and retain adequate staff to lower costs.

Comply with legal requirements. Improve administrative efficiency. By meeting the other objectives, the department staff reaches its administrative efficiency.

Job evaluations

The job evaluations are systematic procedures for determining the relative value of each position. It takes into account the responsibilities, skills, efforts and working conditions. The aim of the job evaluation is to decide the level of wages.

Managers compensation is a subject that fascinates, sometimes inconvenient, which any case leaves no one indifferent. Long hidden from the eyes of the world because his character sometimes exorbitant and the sometimes taboo money in our society, the veil is lifted slowly on the remuneration of top managers (Ellig 2007, 74). However, beyond the public judgments and jealousy it arouses, compensation leadership is far from being an artifact, determined randomly, only with a bring prestige to a privileged group. It is all part of a reward precisely the work of the leader in the interest of the company, and its shareholders and to motivate one who is truly at the helm of the company continues to work their best in this same interest. Managers' compensation is; therefore, an important means for shareholders to ensure that Managers manage their business in the best way or even one of their only means of action on the head, alongside the threat dismissal. However, once the coarse features outlined, things appear complex, and raise many questions, which we will try to answer in this memory (Lipman 2008, 195).

So, what is part of shareholders' control on Managers through their compensation? In other words, the compensation arrangements currently in place are they effective. To go into detail, how are structured the same mechanisms? How have they evolved? Are there any similarities between the structures of Managers compensation in companies with distinct characteristics?

An author, in his article, Manager Compensation and ...