Preview

Maersk's Compensation Case Study

Satisfactory Essays
Open Document
Open Document
362 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Maersk's Compensation Case Study
Maersk’s compensation philosophy is that they offer a competitive salary and benefits package, such as health insurance, dental and vision insurance, a 401k savings plan with employer match, and paid time off (CARE Business Partner Job Posting). The market influences this philosophy because if business is not well for the company they won’t be able to keep up with the competitive pay rates and may lose employees to a competitor that may be having a better year, and offering a higher pay rate. Also, if the price of materials is higher, that leaves less money for the employees. On the other hand if business is good and doing well the company my reward all the employees that may have had a hand in the success with a bonus of some sort. Salary
Continue Reading
View Writing Issues

You May Also Find These Documents Helpful

  • Good Essays

    Eco/365 Week 3
    • 530 Words
    • 3 Pages

    Eco/365 Week 3

    A company that strives to be competitive in whatever market they belong to will always look for strategic and competitive advantages. Building a market-competitive compensation system is the first step needed to attract, retain, and promote high performing individuals who will help a company reach and maintain that edge over competitors, so it is imperative to get it right the first time: offer compensation that is far above the median wage and the company must lower its bottom line, leaving it less money to reinvest, pay stockholders, etc. Offer too low a compensation package and the company will not be able to attract the high performers it is looking for to drive the competitive advantages further.…

    • 530 Words
    • 3 Pages
    Good Essays
    Read More
  • Good Essays

    Boat Insurance Case Study

    • 859 Words
    • 3 Pages

    Boat Insurance Case Study

    Prepare a first draft BPMN diagram that shows the Boat Sales Insurance Process. Be clear about how the customer interacts with the Insurance Company.…

    • 859 Words
    • 3 Pages
    Good Essays
    Read More
  • Best Essays

    RWT1 Business Research Report
    • 1775 Words
    • 8 Pages

    RWT1 Business Research Report

    Milkovich, G. T. (1987). A strategic perspective on compensation management (CAHRS Working Paper #87-01). Ithaca, NY: Cornell University, School of Industrial and Labor Relations, Center for Advanced Human Resource Studies. http://digitalcommons.ilr.cornell.edu/cahrswp/444…

    • 1775 Words
    • 8 Pages
    Best Essays
    Read More
  • Satisfactory Essays

    BUS 434 Week 5 DQ 2 (Benefit Packages)
    • 407 Words
    • 2 Pages

    BUS 434 Week 5 DQ 2 (Benefit Packages)

    Benefit Packages. Today’s globally competitive business environment has caused many U.S. businesses to reduce the value of their employee benefit packages. Examine how an organization can maintain its costly benefit structure while remaining competitive against coun...…

    • 407 Words
    • 2 Pages
    Satisfactory Essays
    Read More
  • Better Essays

    Holland Enterprises: Compensation & Benefits Management
    • 2142 Words
    • 9 Pages

    Holland Enterprises: Compensation & Benefits Management

    With the changing economy it is important that Holland Enterprises improves their benefits and compensation plans for their employees. Holland Enterprises employs 3,500 employees, but since 2007 has lost 25% of its staff. Exit interviews indicate the primary reason a majority of these employees have resigned is because of a compensation and benefit system that is perceived to be unfair and uncompetitive in the marketplace. The reason why an analysis must be done is to attract and to retain employees. This paper will include the current status of Holland Enterprises benefit programs that will include compensation and benefit philosophy, pay structure architecture (pay grades, pay ranges, and pay width), ratio of base pay to incentive (bonus) pay, emphases on external equity or internal equity, principle type of benefits, and how effective compensation and benefit system contributes to organizational effectiveness.…

    • 2142 Words
    • 9 Pages
    Better Essays
    Read More
  • Satisfactory Essays

    Canadian Compensation System Analysis
    • 82 Words
    • 1 Page

    Canadian Compensation System Analysis

    This research paper is to discuss the positive and negative effects of Canadian correction system vs the middle eastern correction system on inmates and convicts. First, life does matter regardless the person, who is charged with rape, theft, assault, etc. However, will discuss the effects of restorative justice offenders and victims. As well, the discussion of two of biggest middle eastern countries that are molded by the Sharia law countries such as, Iraq and Iran. Additionally, how sharia law came to existence.…

    • 82 Words
    • 1 Page
    Satisfactory Essays
    Read More
  • Satisfactory Essays

    Compensation And Amontion Research Paper
    • 415 Words
    • 2 Pages

    Compensation And Amontion Research Paper

    Compensation and Colontion was the approach. It wasn’t what was the end result but what was intended. In the final judgment it was written in refernce the” prelimary one with the determintation to free the slaves in states or parts of states still in rebellion against the United Sates as of January 1st and then listed the regions in which the slave “ shall be then, thencefore and forever free.”” (pg333) Although it was not written in the final proclamation about compensation it was amongst a few other things mentioned. I think compensation was in order but sure to the slaves at that time beingn free was worth more than any amont of money they couuld have been given. It was written that they would be allowed to work and earn reasonable…

    • 415 Words
    • 2 Pages
    Satisfactory Essays
    Read More
  • Powerful Essays

    Ridoran Manufactoring
    • 1377 Words
    • 6 Pages

    Ridoran Manufactoring

    According to Martocchio (2009), “Compensation professionals promote effective compensation systems by meeting three important goals: internal consistency, market competitiveness, and recognition of individual contributions” (Martocchio, 2009, p. 19). It is essential that these objectives are met to retain employees and make them feel valued and appreciated; all while functioning within the organizational budget. As Riordan Manufacturing considers themselves to be a leader within their industry, they understand that listening to the voice of their employees and remaining flexible regarding the compensation benefits offered worth together in alignment with their company mission. As…

    • 1377 Words
    • 6 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    ECONOMY SHIPPING COMPANY case
    • 2248 Words
    • 58 Pages

    ECONOMY SHIPPING COMPANY case

    steam-powered boats. The company was considering whether to repair one of its’ steam boats or…

    • 2248 Words
    • 58 Pages
    Powerful Essays
    Read More
  • Good Essays

    Bus 409 Compensation Management
    • 948 Words
    • 4 Pages

    Bus 409 Compensation Management

    This paper will examine setting the stage for strategic compensation and bases for pay. There are three main goals of compensation departments: internal consistency, market competitiveness, and recognition of individual contributions. Internally consistent compensation systems define the relative value of each job among all jobs within a company. (Martocchio, pg. 22, 2011) With this system companies want employees to be paid more based on their qualifications and responsibilities. They believe someone with less experience should be paid differently. To determine such evaluation companies use job analysis in order to provide job descriptions. The job evaluation is to determine pay according to a particular position. Market-competitive pay systems attract and retain the most qualified employees. (Martocchio, pg. 22, 2011) By obtaining a strategic analysis and compensation surveys companies can determine who is most beneficial to the company based on the results. Strategic analysis examines long term growth and outlines the company’s profile to keep them in the market. Compensation surveys are collected and reviewed to determine different pay and which benefit packages are best needed. Compensation surveys are important because they enable compensation professionals to obtain realistic views of competitors’ pay practices. (Martocchio, pg. 22, 2011) Finally, recognizing individual contributions determines pay structures, pay grades, and pay ranges. The pay structures focuses on the difference in an employees’ contribution to company. With this structure it helps the company determine which employee has greater knowledge of the job their performing which leads to better pay. Companies with similar job groups use pay grades to determine compensation. Pay ranges start at the bottom and reach the maximum allowed depending on the job.…

    • 948 Words
    • 4 Pages
    Good Essays
    Read More
  • Good Essays

    Internal And External Equity Comparison Paper
    • 749 Words
    • 3 Pages

    Internal And External Equity Comparison Paper

    A solid and well put together compensation package is a valuable tool for an organization. A well-designed compensation package will go a long way in attracting and retaining knowledgeable and well-suited employees to the organization. In presenting a well-designed compensation to potential employees, will attract them to the position and help in retaining them to the organization. Less turnover enables an organization to reduce training costs, increase productivity, and create better working environments for the employees. The two main factors to be considered when creating…

    • 749 Words
    • 3 Pages
    Good Essays
    Read More
  • Good Essays

    Remediation on Customer Care
    • 1017 Words
    • 5 Pages

    Remediation on Customer Care

    * Incentives/bonuses ( for their hard work, commitment to the company and providing excellent customer service to customers)…

    • 1017 Words
    • 5 Pages
    Good Essays
    Read More
  • Best Essays

    Business Research Report on Compensation Strategies
    • 3603 Words
    • 11 Pages

    Business Research Report on Compensation Strategies

    The purpose of this report is to review 3 different analyzed employee compensation strategies that could potentially benefit your corporation if accurately executed. As a business you must remember that Employee Compensation is key to identifying as well as rewarding your employees, for their exceptional performance and contributions to the company’s success rate overall. Due to compensation being a significant factor, you must carefully evaluate the three strategies that will be presented in this report. Incorporating a bonus structure is a widely accepted compensation strategy. It provides for an employee who receive a set salary to capitalize their earnings by being rewarded for excellent job performance. Implementing a bonus structure could result in a stable compensation strategy that most employers and all employees are comfortable with. The downside of using this strategy would be having to minimize the ability for growth in annual salary increases, which could result in moral, motivation and productivity decreases. Offering a tuition reimbursement plan is also another popular and well accepted compensation strategy. With this strategy, employees feel as if the company that they invest a minimum of 2080 hours per year cares enough about them to help them pay for a higher education degree. There are many individuals who come to work and give their all with a desire to better themselves. However, due to financial restraints they are unable to. With the implementation of such strategy, you will begin to notice more and more employees pursuing higher education. This overall provides an…

    • 3603 Words
    • 11 Pages
    Best Essays
    Read More
  • Good Essays

    Case Analysis For Maersk Group
    • 802 Words
    • 3 Pages

    Case Analysis For Maersk Group

    The Maersk Group was founded in 1904 and became the largest company in Denmark. Maersk operates one of the largest container shipping businesses globally as well as oil and gas exploration and container terminal operations. Now it is transforming from a family business to a global conglomerate. However, Maersk is experiencing five notable talent challenges during its strategic transition.…

    • 802 Words
    • 3 Pages
    Good Essays
    Read More
  • Good Essays

    Success of Meru Cabs!
    • 733 Words
    • 3 Pages

    Success of Meru Cabs!

    Every company feels that they are paying the best to their employees and every employee feels that he is underpaid. However in case of MERU, the employee pays the company…

    • 733 Words
    • 3 Pages
    Good Essays
    Read More

Related Topics