(PDF) Compensation Management
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Added on 2021-04-24
(PDF) Compensation Management
Added on 2021-04-24
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Running head: EMPLOYEE COMPENSATION STANDARDS AT ADECCOEmployee Compensation Standards at AdeccoName of the Student:Name of the University:Author Note:
1EMPLOYEE COMPENSATION STANDARDS AT ADECCOTable of ContentsIntroduction:....................................................................................................................................2Present compensation plan at Adecco:............................................................................................2The most beneficial ratio of internal and market consistent compensation systems:......................4Current pay structure and employee recognition of employee contribution:..................................5Recommendations for improving discretionary benefits:................................................................5Employer sponsored retirement plans and health insurance programs:......................................6Equable retirement and health insurance policies for employees deployed with clients:...........6Conclusion:......................................................................................................................................7References:......................................................................................................................................8
2EMPLOYEE COMPENSATION STANDARDS AT ADECCOIntroduction:The recent trend in the corporate sector of the United States of America is hiring thirdparty employees to work carry out significant parts of the entire operations. The trend is evenstronger among the multinational companies which hire employees from multinationalconsultancies. The aim of the paper is to study the employee packages and post employmentbenefits these consultancy companies offer to their employees deployed with their clientcompanies. The increasing importance of consultancies in the American labor market is evidentfrom the fact that the leading consultancies are public limited companies earning huge revenueby serving these clients. The consultancy company, Adecco USA, the American arm of theSwiss consultancy group, Adecco Group forms the crux of the study (adeccousa.com, 2018). Theconsultancy is listed on the Swiss Stock Exchange and operates in several countries. The paperwould delve into the compensation of the consultancy group.Present compensation plan at Adecco:The present compensation plan of Adecco for its employees stands on three pillarsnamely, finance, human resources and legal. The financial part of the compensation stresses onthe wages or salaries which the consultancy pays to its employees which include employees bothdeployed with the consultancy and its clients. The consultancy clearly mentions that it stresseson paying employees high and legitimate salaries to ensure that it can attract high efficient andqualified manpower. An evaluation of the existing policies of paying employee high financialcompensation serves four purposes. First, as pointed out, it helps the consultancy attract qualifiedmanpower (Lu & Gursoy, 2016). Secondly, high pay packages enable the company to retainemployees for longer period because these high packages act as motivating factors for the
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