Taste, Work Ethic, and Compensation Expectations in the South

Piece Rate System/ Payment byResults System This is the easiest system of payment. A worker receives payment depending on the amount of items he produces. Management does not have a problem determining the items of production and the number each worker produces. Workers determination and hard work are the determinants of the amount they receive at the end of the day.Advertising We will write a custom essay sample on Taste, Work Ethic, and Compensation Expectations in the South specifically for you for only $16.05 $11/page Learn More Benefits It is very easy to measure a workers output which makes the system’simplementation quite easy. Secondly, workers are motivated to work harder. This is because the more they work the more they get. Disadvantages Sometimes, workers may compromise quality of work in an attempt to produce more items. The effects of this are spiraling as it leads to direct customer dissatisfaction, which may result in lost business . It also does not recognize the human aspect of employees. Motivation comes from more than just making money. In other terms, it projects money as the only motivator of human beings, whichis not true. Salary Payment System This system rewards employees after a certain period. Normally, it is a month. Workers report to work and leave after a certain period. Benefits The workers get motivated because they do what they love. Their input does not go through rigorous measuring procedures. Hence, performance of an employee stems from other factors, which may or may not include money. Secondly, employees find it fair. This is because there are those workers who are faster than others are and may always end up getting promotions if a company adopts other methods. Thirdly, the company rests assured of quality work. The employee inputs everything possible skill to produce quality work (U.S. Merit Systems Protection Board, 2006). Disadvantages An organization may not always measure each worke rs output correctly. This means some employees may take advantage of this policy to laze around at the expense of others for an equal pay. Consequently, management should take careful interest in each worker’s output, though in a subtle way. It is also a permanent expense in the books of the company despite revenue performance. Hourly Payment System Under this system, workers receive payment on hourly basis. This is the most beneficial payment system on the side of employees. Normally, consultants, lawyers and others who offer professional services use and prefer this payment system. This is because they are not permanent employees of a particular company. They are engaged in one-off decisions or solutions.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Advantages The company or organization that engages this services pay for them only once. Therefore, this expense does not feature in the books of accounts permanently. Secondly, since the process of selection happens only once, the company is in a position to pick the best that can offer the service. This guarantees them best services. Another outstanding advantage is the fact that a company can always outsource these services since they do not form a core business function per the definition of the company (U.S. Merit Systems Protection Board, 2006). Disadvantages The payment associated with these services isnot standard. Different providers offer different services and charge differently. This means a company can only come up with a certain range of acceptability. Nonetheless, it may lead to overpayment. Because of the nature of the reason for sourcing the professional service, a company may incur huge costs. For example, an unexpected lawsuit or a disaster that requires professional public relations. ComparableWorth This is a new workplace doctrine that attempts to ensure that jobs that require similar prof essional or educational qualification receive equal compensation despite male or female predominance or perceived ‘fit to do the job’ status. Traditionally, as many studies confirm, women dominated professions with similar qualifications as parallel male dominated professions comparatively get lower compensations. These jobs include elementary education, childcare and health care (Ander and Velasquez, 2011). This discrepancy prompts rights activist to propose equality. However, workplace traditions dictate that this is something that exists from a long time ago. Its implementation is a paradox. Employers do not know how to go about this. It is as if socialization precisely gears women towards least paying disciplines. However, as employers argue, it is impossible to adjust such payments to fit into the new social demands placed upon them by the advocates of comparable growth. Should they pay more in salaries and risk going down just to meet social pressure? (Ander and V elasquez, 2011). The legal systems propose that every individual should receive equal treatment at work. The constitution guarantees workers’ rights. Therefore, employers have a responsibility to uphold the same. However, it is almost impossible to compensate different professions by men and women equally. This is because, socially and traditionally, these professions do not generate as equal revenues. Additionally, the risks associated with the women dominated professions are less. The way is narrow for employers to walk as they attempt to bridge this gap without risking legal processes (Ander and Velasquez, 2011).Advertising We will write a custom essay sample on Taste, Work Ethic, and Compensation Expectations in the South specifically for you for only $16.05 $11/page Learn More References Ander, C. Velasquez, M. (2011). Comparable Worth. Retrieved from https://www.scu.edu/ethics/focus-areas/business-ethics/resources/comparable-worth/ U.S. Me rit Systems Protection Board. (2006). A Report tothe President andtheCongress ofthe United States. Web. This essay on Taste, Work Ethic, and Compensation Expectations in the South was written and submitted by user Darien Y. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

stock market essays

stock market essays Prior to the stock market crash in 1929 and Black Thursday, a day which meant financial ruin for much of America, the U.S Economy was experiencing a great boom. The stock market, a growing trend in the life of Americans, allowed almost every man to experience the American dream. Investing was something that almost every person could do, the thought of putting in a few hundred dollars one day and waking up the next morning with twice as much money as you had put in amazed people. Once they started they couldnt get enough. At the beginning of the 1920s approximately 1.5 million citizens participated in the stock market but at the close of 1928 survey s said the about 17million had taken interest in the stock market. Because of their success and that of so many others, people could not possibly see how the stock market could fail, they watched its growth day by day and saw themselves grow more and more wealthy. This is not to say however that no one paid attention to the increasing amo unt of warning signs. Many noted that the pace at which prices were rising could be potentially dangerous, however when they tried to warn the public, people thought they were crazy for thinking this amazing time of wealth and prosperity could come to a devastating end. In the 1920s playing the stock market became a sort of national sport, people who had never invested in anything or prior to the 20s had never even heard of the stock market were buying and selling in hopes of getting rich quick. Brokerage firms became a common thing with advertisements and competition for lowest interest and down payments of as low as 10%. This further added to the madness of the times. What the average person didnt understand however, was that the stock prices did not reflect the real values of the shares or how much the companies were worth. Because of this, people spent their entire savings on stocks and when the bear market began...