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Role Of Organizational Objectives And Total Compensation In Different Markets

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Role Of Organizational Objectives And Total Compensation In Different Markets
Organizational Objectives and Total Compensation in Different Markets
HRM/324 Total Compensation

Organizational Objectives and Total Compensation in Different Markets Total compensation plays a significant role for a Human Resource consultant as it the key objective for the company to provide knowledge of laws and regulation that effect compensation. It is crucial for one to understand how to apply these laws and regulations in the overall plan that a company offers in regards to their compensation package to support the company’s strategic plan. The laws that influence compensation practices are designed to help “ensure that pursuit of goals by any one group does not undermine others goals. These laws make sure that the …show more content…
According to The White House (n.d), the act was “signed into law putting in place comprehensive reforms that improve access to affordable health coverage for everyone and protect consumers from abusive insurance company practices.” The Affordable Health Care Act establishes a new Patient’s Bill of Rights that protects individuals from insurance companies who would deny coverage due to pre-existing conditions or put a limit of how much care they would pay for and even cancel coverage due to a mistake on the paperwork (The White House, n.d.). When first introduced, the Affordable Health Care Act was not well received as many individuals thought it was not very affordable and was difficult to obtain. During the first year of enrollment, many individuals were complaining about various glitches in the system which made it very difficult to navigate through the website. However, those glitches were resolved and now about 11.4 million Americans are signed up for private health care coverage (The White House, n.d.). The Affordable Health Care Act is one of the laws that is currently being thought of when constructing a total compensation …show more content…
“United Therapeutics Corporation is a biotechnology company focused on the development and commercialization of unique products to address the unmet medical needs of patients with chronic and life-threatening conditions” (United Therapeutics, 2009-2014). The following are several benefits offered by United Therapeutics – Medical plan (medical, dental, vision and prescription), 401(k) plan, LTD/STD plans, employee assistance programs, stock purchase plan, employee referral bonus and onsite daycare (United Therapeutics,
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