Building strategic compensation systems esonic example project

We will also look into the historical perspective on compensation packages.

Building strategic compensation systems esonic example project

E-Sonic Compensation Project | HubPages

Contact Author History of Compensation A good employer offers a fair employee compensation and benefits package in addition to respecting workers' rights. However this approach to a pro-labor workplace did not always exist. In order to create a fair compensation package that both attracts and retains employees it is important that employers understand the history behind modern compensation.

During the pre-industrialization period people treated the home and the workplace as one single unit, where the men and the woman would share tasks between them, but that changed with the rise of machines and factories. The industrialization caused a greater belief in stereotype gender roles and socio-economic hierarchy.

This resulted in middle class families having the male head of the family working while the females stayed at home and did domestic work and raised the children.

E-Sonic Compensation Project | HubPages

In poor families everyone was sent out to work in separate workplaces for often small salaries and no benefits. Everything changed when the war happened; men joined the military and women were recruited into traditionally male dominated jobs, yet they were not provided with economic rights or protections.

Eventually unions were formed as was the International Labor Organization ILO whose goal was to promote rights at work, encourage decent employment opportunities, enhance social protection and strengthen dialogue in handling work-related issues.

The ILO encourages tripartism where representatives from state governments, employer organizations, and labor groups participate in consultations to identify ideal labor standards and policies The Good Employer, n.

It was the International Labor Organization and the formation of unions that eventually gave rise to the modern approach to compensation. The strategic analysis was completed with the purpose of acting as a guide for future decisions that will be made in relation to the compensation systems of e-sonic.

The proceeding strategic analysis exposes the strengths, weaknesses, challenges, and objectives that e-sonic faces based off of the examination of: The Recording Industry Association of America RIAA has been fighting pirate file-sharing websites as well as individuals who get pirated music through lawsuits and litigation; this has helped to deter illegal downloading.

Building strategic compensation systems esonic example project

This will cause a need to either train current employees in new skill sets or the hiring of new employees with the required skill sets. In order to motivate current employees to gain new skills and to attract new employees to fill the required roles e-sonic would need to create a new compensation system.

E-sonic will also face competition from already established online music stores like: In order set themselves apart from the competition e-sonic will need to establish their brand name and software platform as something unique from other online music stores in order to draw in customers.

The current prospects for the digital music industry are positive and they are expected to continue to prosper in the future. Employees at e-sonic will need to have skills in customer service, software development, digital media, market analytics, and online management.

These establishments do not provide traditional non-Internet versions of the content that they publish or broadcast.

Internet content paid for by subscriptions, pay-per-view, membership fees, fees for downloads, and fees for other forms of licensed access U. Bureau of Census, Establishments in this industry produce master recordings themselves, or obtain reproduction and distribution rights to master recordings produced by record production companies or other integrated record companies U.

The five elements are: In order to motivate current employees to gain new skill and to attract new employees to fill the required roles e-sonic would need to create a new compensation system. Sonic Records found that this reduction in revenues was an effect of CD burning, international piracy, legal online music purchases, and a shift in consumer preferences.

A recent market survey at colleges and universities across the United States exposed the fact that more than 80 percent of the students surveyed had not purchased a CD in the last seven years. The Recording Industry Association of America RIAA has been fighting pirate file-sharing websites as well as individuals who get pirated music through lawsuits and litigation.E-sonic’s compensations systems have been evaluated utilizing a strategic analysis.

The strategic analysis was completed with the purpose of acting as a guide for future decisions that will be made in relation to the compensation systems of e-sonic. Building Strategic Compensation Systems is an experiential case simulation available to users of Strategic Compensation, 4th Edition.

Students work in small compensation consulting teams charged with the responsibility for developing a compensation plan for a company named e-sonic. Anti Essays offers essay examples to help students with their essay writing.

Building Strategic Compensation Systems Words: — Pages: 3 Industrial Relations and to compensate for skills and performance. Strategic compensation systems the latter is one way of building a sound industrial relations system.

E-sonic’s compensations systems have been evaluated utilizing a strategic analysis. The strategic analysis was completed with the purpose of acting as a guide for future decisions that will be made in relation to the compensation systems of e-sonic. Buildng Strategic Compensation Esonic Section 3. Compensation professionals promote effective compensation systems by meeting three important goals: 1. Internal consistency 2. An example where this type of compensation plan is prevalent is the real estate industry and real estate agents. A common variable pay plan might be the . Apr 26,  · Final Project Final Milestone 1 E-Sonic Records Compensation Format Southern New Hampshire University Final Project Final Milestone 2 Abstract This final paper is combination of previous research to give E-Sonic a clear understanding on the procedures in completing a total compensation package.

Building Strategic Compensation Systems Esonic Example Project. Strategic Compensation Management: Aligning Compensation with the Business Goals and Objectives of the Organization Jasmine McCrary Compensation Management, Fall Semester Professor: Dr.

Debra Sherrill Strayer University September 4, Executive Summary Compensation is the remuneration received by an .

Building strategic compensation systems esonic example project

E-sonic’s compensations systems have been evaluated utilizing a strategic analysis. The strategic analysis was completed with the purpose of acting as a guide for future decisions that will be made in relation to the compensation systems of e-sonic.

Feb 28,  · This strategic analysis reveals firm-specific challenges, objectives, and initiatives that allow E-Sonic to align the goals of a compensation system effectively with those of the company’s strategy, challenges, and objectives.