Business
Discussion question responses
- Respond to the following discussion in a minimum of 175 words with no plagiarism:
Discuss how laws and regulations guide total compensation. Research a law or regulation and discuss how it influences total compensation in your organization or an organization you are familiar with. Why is that law or regulation important to consider?
2&3. Respond to the two following with a minimum of 75 words each no plagiarism:
- Ashley Holmes
In my opinion I feel as though I get paid well but could be paid more. Considering the type and the amount of work I’m required to do at the bank I currently work for. One of the good things is that I live in Delaware and it’s tax free which is cool, but it can have its down sides to it. I do know once my family and I decide to relocate to a different state it will be a major change for us due to us living in a tax-free state. Hopefully the pay will be more and will match the cost of living depending on the location. The company I work for now is a very small company compared to the company I used to work for which was Bank of America. Both companies are good but the pay rate for Bank of America was lower than the current company I work for now. The benefits at my previous employer were awesome verses my current employer. I feel as though lesser pay is offered to employees at a bigger organization due to the size of the organization and wanting to keep fix cost to a minimum in some companies but not all. But from my experience I feel as though the bigger the organization the more opportunity you have.
- Andrea Hout
I just recently relocated from Southern Indiana to Souther Illinois. I work in the HR field and when moving I also changed companies. Both companies are roughly the same size with close to the same number of employees. Both communities are roughly the same size and cost of livings are roughly the same. I received a very large pay increase just relocating. I made drastically less in my previous role even though my workload was much larger. I understand that pay can fluctuate with higher cost of living, transportation costs, or bigger industry sizes but none of these were the case here. My current organization knows that in a market society, companies most often need to pay the market rate in order to hire competent employees. Paying below market rate results in negative external equity as individuals do not see value in working for the business. Compensation rates above the market rate will attract more potential employees. Making sure you are staying up to date on what the external market is paying for the jobs in your area can be one way of ensuring external equity in your work.
