U08a1 Compensation & Benefits Assignment Template Essay

U08a1 Compensation & Benefits Assignment Template - Essay Example effectively mandated benefits involve guaranteed apply these ar monetary reward provided by an employer based on the relationship between employee and employer. In nigh cases, guaranteed pay is best presented in basic salary (Andrus, 2012). On the other hand, variable pay is an lesson of voluntary benefits paid by an organization to a worker that is based on management discretion, posture or results realized. Usually, voluntary benefits are best represented in bonus forms and sales incentives.Benefit conversation should involve offering employees the right information on the incentives they stand to gain and allowing them adequate time to profit hard decisions, if any. The practice also involves helping them go about permanent conditions, which is usually easier to manage than awaiting the 11th hour. Employees should be educated on behaviors like maintaining good health and refraining from drug use (Tacchino, & Littell, 2011).Compensation policies are often riddled with different problems. These include the challenge of hiring the right employee to a given position. Unfavorable Political, Economic, Social, Technological, Legal and Environmental conditions hinder the implementation of better fee policies (Szendrei, & Rodriguez, 2010).Pros. Formal pay structure is advantageous because an employee foot make permanent plans based on it. Non-monetary compensation enables the employee to save monetary resources, and feels part of the organization.Cons. Monetary compensation can be easily wasted by the employee. Non-monetary compensation may sound a long-drawn tear to an employee, especially those who have access to better non-monetary compensation offered by an organization.Organizations carry out a personify benefit analysis to find out how effective, or how badly, an intended action will impact organizational goals. Even though, the analysis can be employed for almost any case, it is usu ally executed on