HR Management and Compensation

The assignment discusses Human Resource Management, specifically the stakeholders involved in implementing a compensation system, including the CEO and Human Resource Professionals. The CEO's role is to review and improve the compensation system to meet company goals, while HR professionals aim to improve management efficiency. A structured compensation system enables efficient record-keeping, calculating salaries, and sanctioning leaves, leading to improved employee satisfaction.

Human Resource Management

Table of Contents
Job Analysis Compensation.......................................................................................................1
References.............................................................................................................................2

Job Analysis Compensation
The stakeholders which would be involved in terms of their roles and interest for
implementing a compensation system with an organization are CEO and Human Resource
Professionals.
CEO of an organization is concerned with meeting the goals of the company which can be
either through improvement in the performance of the employees through improved
compensation system or saving the resources of the organization through the changes in the
present compensation system ("Designing an Internal Fair Procedure System", 2017). Thus it
is his role to review the compensations system from time to time and implement one which
helps to improve the overall productivity of the employees, and allow the company to attract
the required talent in the industry. The interest of implementing such system is also justified
as it would help the company improve its job specification for the role for which each
employee has been assigned for.
The interest of the human resource professionals in implementing a compensation system is
to improve their efficiency of management of the compensation of the employees. Through a
structured compensation system, it is easy for the human resource department of the company
to record the attendance of all employees, calculate their compensation, record and sanction
leaves, calculate any incentive or bonus, etc. (Reilly, 2011). When such activities are
efficiently conducted, the employees are paid on time which leads to improvement in their
satisfaction level.
It is also the responsibility of the human resource department and the CEO of the
organization to continuously improve the management systems within the company which
helps to improve the efficiency of various operations and reduce wastage with the
organization. Such techniques to improve the internal working conditions of the company is
often used by organizations to build on their competitive advantage and work for long term
sustainability (Weinberger, 2005).

References
Designing an Internal Fair Procedure System. (2017). Management Report For Nonunion
Organizations, 40(5), 4-6. doi: 10.1002/mare.30275
Reilly, R. (2011). Compensation and Valuation Considerations in Closely Held Company
Stock Sales to an ESOP. Compensation & Benefits Review, 43(5), 306-317. doi:
10.1177/0886368711417238
Weinberger, T. (2005). Evaluating the Effectiveness of an Incentive Plan Design within
Company Constraints. Compensation & Benefits Review, 37(6), 27-33. doi:
10.1177/0886368705280737