Bus 409

Topics: Employment, Trade union, Best practice Pages: 3 (877 words) Published: August 1, 2013
Compensation Practice
Strayer University
BUS409 –Compensation Management
May 2, 2013

Compensation Practice
This paper was developed under the scenario of choosing the name of a publicly traded company for that would be interesting for an employee to work and then analyzing and explaining the company, its compensation strategy, best practices the company is applying, and compensation-related challenges the company is facing. The paper will also analyze how the company applies compensation practice to determine the positive or negative impact to the company and its stakeholders; and the ways in which laws, labor unions, and market factors impact the company’s compensation practices. The company chosen was Chic-fil-a. Analysis of how Compensation Practice can be Applied to Positively Impact an Organization and its Stakeholders Compensation is practice at every organization but every organization compensations practices are different. As an organization you would want you employees taken care of and have competitive compensations to compete against other organizations and its employees. Some examples of compensation are good benefit packages, vacation time, sick time, bonuses, pay increases and continuous training etc. Good compensation make employees want to progress within the company and have job security, to have longevity with the organization. Happy employee equals success as a whole for the organization, you have boosted moral and have employees investing money into the company stocks and which also can lead to third party companies or individuals investing in particularly Chic-fil-a stock. One thing that stands out the most to me about Chic-fil-a is that they offer a modified schedule choices to help employees have a somewhat of a stress free work environment with flexible shift hours during a standard workweek. Examination of Ways in Which Laws, Labor Unions, and Market Factors Impact Companies’ Compensation Practices Laws that impact...

References: (n.d.). Retrieved from http://www.glassdoor.com/Reviews/Chick-fil-A-Reviews-E5873.htm
Cooper, J. (n.d.). Retrieved from http://right-to-work-laws.johnwcooper.com/
(n.d.). Retrieved from http://www.managementstudyguide.com/factors-affecting-compensation.htm
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