Benefits And Benefits Of Employee Compensation - 1054 Words

fantastic benefits. (Benefits.) One of the many topics that we discussed when we met with Joe Daggar, a senior manager at Paychex, was how the company meets the needs of employees in relation to employee compensation. Paychex has a set system where the company performs anonymous surveys to determine which kind of compensation packages employees are looking for. By using these surveys they constantly change and adapt to the needs of their employees. Investment opportunities was another feature that was mentioned in regards to employee compensation. By giving employees access to company stock and assets over the duration of their employment, employees feel that they are really a necessary component of the company. This can help in the struggle to retain employees that would potentially leave the company otherwise, which is crucial due to the fact that high turnover rates are something that every company strives to avoid, regardless of the industry. It is easier and cheaper to retain workers rather than hire and trai n new ones, so by constantly changing and upgrading the compensation package, workers are more likely to stay with the company in the long run. (Daggar) As part of Paychex’s benefits programs, the company includes health insurance, dental and vision coverage, paid time off, a retirement plan, a flexible spending account, and a health savings accounts/health reimbursement account within its benefits package (Employee Benefits and Small Businesses | Paychex.).Show MoreRelatedBenefits And Benefits Of Employee Compensation1395 Words   |  6 PagesEmployee compensation is all forms of pay and rewards which are received by employees for completing their job duties as outlined by their employer. Compensation is classified two ways, direct and indirect compensation. Direct compensation covers wages and salaries, bonuses, commissions and incentives. With indirect compensation, benefits are supplied by employers, and nonfinancial compensation includes recognition, rewarding jobs, and flexible work hours in order to accommodate each person’s ownRead MoreBenefits Of Employee Compensation And Benefits1729 Words   |  7 PagesEm ployee compensation and benefits provides many different alternatives for employers to reward and retain their employees both near and long term. It is standard set of programs that are designed to reward and motivate employees to perform at exceptional levels as well as retaining these good employees for many years. Employee compensation and benefits has been an ongoing discussion of the Financial Accounting Standards Board (FASB) for quite some time. One key area is not only to provide guidanceRead MoreEmployee Compensation And Benefits Package Essay905 Words   |  4 PagesIntroduction – Employee Compensation and Benefits This paper will outline an employee compensation and benefits package for a new hire for a secretary for the department. First, it will describe the organization I chose for designating a compensation package. Next, this paper will develop an employee compensation and benefits package for this new position. This paper will outline an employee compensation and benefits package for a new hire for a secretary for the department. First, it will describeRead MoreEmployee Compensation And Benefits Packages Essay1245 Words   |  5 PagesEmployee Compensation and Benefits Organizations create compensation and benefits packages in order to attract the best talent. In today’s global economy it is imperative that organizations offer compensation packages that are competitive in order to recruit the very best talent in the world. However, in order to be successful, compensation packages must align with business strategies. Authors â€Å"Mathis, Jackson, and Valentine (2014) explain that an effective total rewards approach balances theRead MoreEmployee Compensation And Benefits Package944 Words   |  4 PagesEmployee Compensation and Benefits Package The organization for which I am designing the compensation package is a company that offers internet solution to customers in the domestic US market and the global market. The position that I am hiring is that of a company secretary. The secretary will be required to work in the office of the human resource manager and will handle all the papered and paperless documentation. The position comes with numerous benefits and packages as outlined herein. AfterRead MoreEmployee Compensation And Benefits Packages Essay1537 Words   |  7 PagesIntroduction In today’s competitive workforce, compensation and benefit packages plays a crucial role on recruitment and retention for both the organization and the employee. Bumpbie finds itself in a situation where it could positively affect its employee’s morale, turnover rate and longevity; by making a strategic decision to implement compensation and benefit packages that will encourage current workers to stay and entice new applicants. Money is not always the inherent reason businesses experienceRead MoreEmployee Compensation and Benefits Packages548 Words   |  2 PagesEmployee Compensation and Benefits Packages Introduction: A companys compensation and benefits package will likely be a great determinant of the quality of its personnel and the stake that these employees feel that they have in the hiring organization. This is why it is incumbent upon an organization to choose a compensation and benefits strategy that is at once consistent with internal values, needs and expectations and respects the external forces of industry standards, market context and geographicalRead MoreEffective Employee Benefit and Compensation Program1662 Words   |  7 Pagesthe rewards and compensations and it is for this reason that the human resource executives spend a great deal of efforts in designing and implementing the compensation programs. The Employee Benefit Package Adapted By Human Resource Director Designing an effective employee benefit and compensation program is the outcome of managerial expertise. In the given case it has been emphasized that the HR director of a midsized company will have to design and select the employee benefit program to balanceRead MoreDesigning Compensation Systems and Employee Benefits2260 Words   |  10 Pages Designing Compensation Systems and Employee Benefits Tameka Clark Compensation Management/BUS 409 February 26, 2012 Professor Munro Designing Compensation Systems and Employee Benefits A compensation system has an important role in a company. An ideal compensation system can motivate employees to enhance their job performance. An organization can use adequate compensation to retain talented employees. Retaining talented employees is important because they help organizationsRead MoreEmployee Benefits vs. Cash Compensation1986 Words   |  8 Pagespast have clearly demonstrated that employee benefits are more effective than a simple paycheck when it comes to the enhancement of employee performance amongst other things. Further, employee benefits allow companies to utilize other approaches to employee compensation that lack an immediate negative impact on the bottom line. This text explores employee benefits and why they are more important than cash compensation. A Historical Perspective Employee benefits according to Armstrong (2006) are

Peace and Granduer in The Romantic Temper - 775 Words

Seeing past the flawed, faith in possibilities and insistence on equal opportunities for all defined the Romantic’s outlook and attitude. With sights firmly set on the wonders of another dimension, The Romantic Temper is filled with thoughts of peace and grandeur. The ability to imagine and fantasize is what allowed for the Romantic man to flourish, even the most turbulent times. In the mid-century the Romantic artists in America experienced their nation’s capital burned to the ground, the panic and depression, but instead of giving way to the pressure, they created some of the greatest literary pieces ever produced in the America’s history. Their passionate conceptions boldly challenged, enlightened and inspired Americans and Europeans alike. Romantics broke down barriers and created new social norms increasing national pride and getting people to stand up for what was right. Look beyond what is understood as perfect. The Romantic saw beauty in the unique, what stood out or caught the eye. Taking Poe’s quote from Bacon , â€Å"there is no excellent beauty,†--, â€Å"without some strangeness in the proportion,† they saw beauty and then pondered on why it was so, the findings showed that the exquisite in its differences, draws more attention towards it. In Poe’s Ligeia, Ligeia is just like any other attractive looking woman, except for her distinctive eyes , â€Å"[her] shining, [her] divine orbs†! Seeing as that the eyes are commonly referred to as the window to the soul, it does seem

Complicating Conditions of Pregnancy and Childbirth Free Essays

Maternal stays with complications were about fifty percent more costly $4,100 for non-delivery stays and $3,900 for delivery stays) than delivery stays without complications ($2,600). delivery-related complications accounted for $17. 4 billion, or nearly 5 percent of total hospital costs in the United States. We will write a custom essay sample on Complicating Conditions of Pregnancy and Childbirth or any similar topic only for you Order Now Among non-delivery maternal stays, the following conditions occurred at a rate of 100 or more for every 1,000 hospital stays: early or threatened labor, infections of the genitourinary tract, and hypertension, including eclampsia and pre-eclampsia. Among maternal stays with delivery, rate of 50 99 for every 1 ,OOO eliveries: umbilical cord complications, 1st and 2nd degree perineal lacerations, previous Csection, and abnormal fetal heart rate or rhythm. Patients 35 to 44 years accounted for 15 percent of maternal stays with complicating conditions (with or without delivery), but comprised only 1 percent of delivery stays without complicating conditions. Anne Elixhauser, Ph. D. and Lauren M. Wier, M. P. H. Introduction Complications during pregnancy can pose a serious risk to both maternal and infant health, and are associated with various adverse outcomes, including miscarriage, emorrhage, preterm labor, and low birth weight. An objective of the U. S. Department of Health Human Services’ Healthy People 2020 is to reduce maternal illness and complications related for labor and delivery. This Statistical Brief presents data from the Healthcare Cost and Utilization Project (HCUP) Nationwide Inpatient Sample (N’S) on pregnancy and childbirth hospitalizations with complicating conditions in 2008. All data are reported from the maternal perspective (i. e. , reflecting the experience of the mother, not the newborn). For the purpose of his Brief, †complicating conditions] include all ICD-9-CM diagnosis codes that are in the section entitled †Complications of 3 Pregnancy, Childbirth, and the Puerperium. This Brief presents information on hospital utilization and patient characteristics for the following types of hospital stays for: complicated pregnancy during which no delivery occurred (†non-delivery with complicating conditions]), delivery with complicated pregnancy or delivery (†delivery with complicating conditions]), and delivery without any mention of complicated regnancy or delivery (†delivery without complicating conditions]). In addition, this report provides information on specific types of complicating conditions of pregnancy and delivery. How to cite Complicating Conditions of Pregnancy and Childbirth, Papers

Efficiency Business Models and Strategies - MyAssignmenthelp.com

Question: Discuss about the Emerging Efficiency Business Models and Strategies. Answer: Introduction: CSL Limited is an international firm that deals with biopharmaceutical product used to treat severe medical conditions. The workers in are engaged in constant research with the aim of developing and gradually manufacturing pharmaceutical products for the markets. The products are used for the treatment of severe medical conditions affecting different people across the globe. The group has made an outstanding contribution for more than 90 years in the development of plasma proteins and vaccines. Its research and development facilities are located in and have many facilities in Australia, Germany, and Switzerland and have more than 10,000 employees spread across more than 27 countries. The focus of the centers located across the world includes developing new medical products and improving the existing one to solve a range of problems in the market. Firms Corporate Strategy The company employs many strategies in the market to respond to the growing force of competition across the world. The strategies examined in the report includes research and development and strategic alliances and acquisitions(Cawein, et al., 2017). With the view of gaining market strength, the firm entered into a strategic partnership with a company in the same industry GlaxoSmithKline to invest into the new market one of them being a Russian Federation and other countries. The move was attributed to increased market share and impressive growth. Further, this led to new inventions in the industry namely Privigen and Hizentra which contributed to increased earnings and this is expected to grow in the next decades(Gascn, et al., 2016). CSL Ltd. an Australian producer of blood-derived therapies management also sees growth and expansion opportunities in the acquisitions of other small companies which has various strengths in the biotech industry and their products and services promises growth in future(Cawein, et al., 2017). For example, the firm sees Mergers Acquisitions as a strategy that can add value to their products and services across the world. Besides, the company policy is embedded in the research and development of new and innovative products in the market. This is because there are new changes in the pharmaceutical industries and for the company to survive, research and development should be used a strategy to gain market dominance(Baranes, 2016). The company has invested massive resources research and development on a continual basis, and this has led to the development of products and services. The company research and development department is very strategic because it focuses on innovating products that are new to the market with the aim of ensuring continued growth of the enterprise. On the other hand, it enables development of new product and life cycle management of the existing product development(Schijns O'Hagan, 2016). It also ensures increased competitiveness of their product in the market and maximizing of the emerging opportunities of the service and product portfolios. For example, its investment has led to the manufacture of protein-based vaccines and medicines which are used to solve many medical problems, and this is an essential avenue for ensuring future growth. This is evidenced by the increase in investments in recent years in their RD programs. Currently, CSL Limited products are of high quality and competitive in the market. The report argues that continued balanced investment in RD will continue to improve the life cycle of the product and improvement of the existing products and services. In the end, there will be a short, mid and long-term commercial benefits(Murray, et al., 2014). Further, it will lead to the high opportunity of developing new product and undertaking of the activities that are aligned to the core capabilities and resulted in financial strengths(Cawein, et al., 2017). Criticisms Directed to SCL There have been various criticisms of the business practices which has been directed to the organization such as failure to pay loyalties and ethical issues touching on paying donors for blood plasma. The Biotech giant was involved in a case in the US when Third Sector New England and the University of Massachusetts accused the company of threatening to stop paying royalties related to a particular drug used treat a life-threatening disease across the world. The royalties were associated to CytoGam product which was involved its contract. In 2006, the biotech company entered into agreement agreed to purchase MedImmunes CytoGam at a cost not exceeding $US120 million which was used in treating cytomegalovirus that related to lung, kidney, liver, heart transplants and pancreas with an objective of widening it plasma drug portfolio in the industry. The case was solved when the company set up a new agreement to pay royalties when certain sales were meant(Greenbalt, 2016). Besides, CSL was criticized by medical business over price fixing issues. The case was filled with a Missouri medical facilities which claimed two rivals namely CSL and rival Baxter as conspiring to raise the prices for blood plasma medical products in the United States. The pharmaceutical company accessed the two of agreeing to keep supply as low as possible to maintain the demand and the prices high. The practices are reached up sophisticated models used by the companies to ensure oligopolies in the market. Besides CSL and the rival companies focuses on preventing an oversupply of their plasma products such as intravenous immunoglobulin. Also, there are practices like sharing of competition information to gain knowledge and reactions from other companies in the sector. The result of the conspiracy includes a steady rise in price for the products (Greenblat, 2009). However, after the intervention, the merger between Melbourne-based CSL and Talecris was cancelled to prevent the compa nies from controlling the U.S. market plasma products share(Adams Williams, 2017). The Porters five forces analysis is used by organizations to understand various forces in the industry where it operates. Having an understanding of these factors is instrumental in the identification of the issues that can increase the competitive advantage and market expansion. The analysis will explore the industry where CSL Limited operates through five major questions as follows. What is the possible threat of substitute products? What is the risk caused by competitors in the market? What is the level of competitive rivalry in the market? What is the level of bargaining power of buyers and suppliers in the industry?(Tukdeo, et al., 2016). There is a moderate threat of new entrant for CSL limited because the biotech sector is characterized by many small enterprises making developing a new product in a bid to capture the market share. Regarding this information, the barriers to entering the industry are high enough to scare away big business operating and those planning to enter into the firm. Besides, biotech companies require a considerable amount of capital to satisfy their RD budgets(Whaley Brown, 2015). Therefore the amount of capital needed to enter into the market act as a big the biggest barriers for companies to venture into the sector. Besides, there is a high level of specialization that also creates huge barriers. For example, there is a high level of information and companies with knowledge about heart diseases and cancer. However, a group researching on another condition other than these where there is few expert is likely to gain ground in the market (Tukdeo, et al., 2016). In the industry Biotech firms that has their operations, there are unique. This is because their intellectual property determines their value. Therefore, to this regard, the nature of the services in the industry, unlike in other industries, does not require them to depend on suppliers. For instance, to research on a particular vaccine, the CSL does not need suppliers but work using scientific tools, testing equipment, and computers that and other highly specialized items(Rothaermel, 2016). Therefore, the likelihood of suppliers invading the industry is very high. For example, there are small biotech companies that lack capabilities to distribute their new and existing medical drugs to the market, and therefore they are forced to license suppliers on their behalf to make their products available(Gascn, et al., 2016). The bargaining power of industry and firm customers is not the same across all levels which mean it is different based on different factors. For example, most of the companies selling pharmaceutical products have thousands of loyal consumers and therefore is not concerned on users revolt(Adams Williams, 2017). This is why buyers do not bargain when acquiring these products from the pharmacy unlike in other industries such as automobile sector. Further biotech enterprises sell some of their specialized products such as vaccines to hospitals and governments. The reason why the bargaining power is varying is that organizations acquiring drugs at huge value have more bargaining power when compared to individual buyers which as low bargaining powers with biotech firms(Gassmann, et al., 2013). The threat of substitutes in the industry is dependent on various factors such as the region. When companies develop a new product, they patent it to protect other firms from producing the same medicines, but this does not completely stop the threat. This is because, over time, many companies have capabilities of producing a similar product and provide it to the market a lower price(Ogorodova, et al., 2016). However, this does not apply to all drugs, but generic drugs have a problem because it requires the huge amount to investment to come up with new medicines which are sold at a high price to recover the cost incurred with RD. The threat of substitute is high because other firms can make the same drug and through copying the formula and availing it to the market at a fraction of the cost. The problem is substantial in countries where there is a low level of government control in the industry where the firm can make patented drugs and provide them to consumers at lower prices(Boni, 2016). There is intense competition between companies because there are thousands of biotech firms operating across the world. Even with many businesses, only less than 10% of them have a sizeable share of the market and strong revenue. This means the industry is tough and hard to generate revenues mark. The companies spend considerable time competing who better cure a particular medical condition and experts can work for long hours to discover new medicines. Besides, there are trade secrets that add values to company ability to reach the market. Looking at these factors, there is a high level of business rivalry between firms in the industry(Boni, 2016). The term corporate culture is explained as the behavioral expectations, values, and traditions identified among the employees. The organization uses its culture to fasten the level of innovation and create a desirable degree of customer satisfaction. The following are the core values of CSL. They include the provision of the positive working environment, diversity, open communication, developing employees talents, health, safety and wellbeing, building competencies, and reward and recognition(Hartnell, 2016). Ensuring Positive Working Environment CSL management is dedicated to the provision of a positive working environment for the contractors and buyers. The firms treat them in a fair and lawful manner, and this encourages the culture of respect and mutual trust. The managers ensure that the workers get regular training to enhance their knowledge and improve their skills to make a substantial contribution to business success(Croft, et al., 2017). Further, the company values diversity, collaboration, safety and the well-being of their consumers. The allocation of responsibilities in the workplace is designed in a way that it appreciate work and life balance. The strategy is meant to ensure that CSL Limited attracts, develop and retain high qualities of experts in a highly competitive environment and contribute to the success of business. The values are implemented through a range of policies implemented by HR department to ensure the workers right are satisfied(Coombs Alston, 2016). The company embraces open communication which is done promptly to their employees. The firm also welcomes a high level of consultation on issues of employment and direct association with them regarding union representation, workplace committees, and councils. To this regard, the company values the right to be represented by a union and enter into collective bargaining with the management, and this enables the company to have better interaction with employee representatives. The strategy is meant to ensure there no slavery and forced labor in the firm(Croft, et al., 2017). For every organization to develop, it is essential for the management to embrace diversity to ensure long-term success. CSL business conducts and policies are directed toward providing diversity in many forms such as gender balance, cultural background, ethnicity, age and sexual orientation in the work environment. The diversity policies are reviewed regularly based on necessity and the management set diversity objectives on an annual basis. This is a necessary step to the formation of consistent and reliable processes and systems that provide rich variety in the workplace(Coombs Alston, 2016). CSL Limited is determined to provide an environment where the professionals working there can learn and further development their skills. This is important as it ensures the availability of opportunities at all levels in the workplace. The objectives are to continually improve the skills and capabilities to make them develop products consistently and efficiently. In the end, the organization productivity and performance and guaranteed. This also makes employees stay in the organization because it helps in meet their career ambitions and goals(Croft, et al., 2017). Different employees working at various facilities and regions are awarded differently. However, the system of compensation is fair to both the companies and the workers, and this arrives through job evaluation and the market rates(Cawein, et al., 2017). For instance, there is set guidelines which ensure the reviews of all professional working at different levels, and this is done against the set objectives in the market. Further, these results of evaluations are attached to specific remuneration and rewards based on the level of seniority. For instance, the management ensures some schemes call for the reward of exceptional performance at local and regional levels(Gascn, et al., 2016). Developing Employees Talents In the firm, the level of skills and experience is essential for the growth and sustainability of the venture. As such, the management selects the best and manage their talent with a view of developing them and promoting them in the future promotion(Schijns O'Hagan, 2016). The scheme is meant to ensure that knowledge is facilitated, retained and further strengthened by the corporate culture. This is done through staff discussions to identify an area where training needs to be implemented, taking an employee to global forums and allocation of international assignments where employees broaden their understanding of cultural and business issues(Tukdeo, et al., 2016). Conclusion In conclusion CSL Limited is an international firm that deals with biopharmaceutical product used to treat severe medical conditions. The company operates in a biotech industry and has various regional branches. The industry in which it operates has a high competition brought by the need to acquire market share. In addition, there are low threats of substitutes, entry and low bargaining powers of buyers. The company culture is drive by dedication to train employees and make them competitive, ensuring diversity, a system of reward that focuses on rewarding best performing workers and developing employee talents for future promotions. in future the company need to evaluate and assess it culture to align it with the changing environment and invest heavily in research and development to keep bringing new products in the market to cure many problems. References Adams, B. Williams, K., 2017. Zone Pricing in Retail Oligopoly. s.l.:s.n. Baranes, A., 2016. 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Measuring the efficiency of large pharmaceutical companies: an industry analysis. The European Journal of Health Economics, pp. 1-22. Gassmann, O., Reepmeyer, G. von Zedtwitz, M. .., 2013. Leading pharmaceutical innovation: Trends and drivers for growth in the pharmaceutical industry. Berlin: Springer Science Business Media. Greenbalt, E., 2016. CSL faces US suit over royalties dispute. [Online] Available at: https://www.theaustralian.com.au/business/companies/csl-faces-us-suit-over-royalties-dispute/news-story/153bf5b612369acc82256d4f43418c5c [Accessed 6 May 2017]. Greenblat, E., 2009. CSL taken to court over price fixing claims. [Online] Available at: https://www.smh.com.au/business/csl-taken-to-court-over-price-fixing-claims-20090717-dnq4.html [Accessed 6 May 2017]. Hartnell, C. A., 2016. Do similarities or differences between CEO leadership and organizational culture have a more positive effect on firm performance? A test of competing predictions. Journal of Applied Psychology, 6(101), pp. 846-894. Murray, D. et al., 2014. Financial system inquiry: final report, s.l.: s.n. Ogorodova, L. et al., 2016. Model Breakthrough Technologies as a Tool to Support Import Substitution in the Pharmaceutical Industry. International Review of Management and Marketing, 6(IS). Rothaermel, F., 2016. Competitive Advantage in Technology Intensive Industries. In Technological Innovation: Generating Economic Results (pp. 233-256).. Bingley: Emerald Group Publishing Limited. Schijns, V. O'Hagan, D., 2016. Immunopotentiators in Modern Vaccines.. eds ed. Cambridge, Massachusetts: Academic Press. Tukdeo, R. et al., 2016. The global pharmaceutical industry. s.l.:s.n. Whaley, G. Brown, J., 2015. Will Mannkind's Dream Come True?. Journal of Case Studies, 33(1), p. 109.