An Organizational Total Rewards Plan
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This paper compares and contrasts the primary compensation issues involved with Total Rewards Programs (TRPs) in relation to pre-1980s compensation and benefits programs. The paper shows how modern TRPs do not adequately resolve the greater social need for employers to provide incentives for people to maintain livable incomes, while the compensation and benefits programs of the past provided more security for employees.
From the Paper:"This aspect of corporate hedging on rewards is a problem that goes into deeper union issues in the modern era--as they have less political and unionized power to raise wages than they did before 1980. Once again, the problem of social welfare is problematic in the 21st century do the deregulation of corporations and business that had to follow New Deal policies about wages and the rule of law that compensated workers with overtime. Morse (2004) details the reliance on greater government interaction with tax codes to help create incentives for business to enforce wages (p.17), especially in regards to health care and the maintaining of overtime. Within this past foundational approach in the New Deal social contract, modern TRPs veer far away from the governmental intervention that forced companies to adhere to proper overtime pay. This is how the overtime issue in TRP are comparable to the other incentives of cash compensation for production and output, which have historically been moving away from government interference and regulation to help force these employers to keep wages that fairly compensate workers."
Sample of Sources Used:
- Kochan, T. A. (2007, May). Wages and the Social Contract. The American Prospect, 18(5), A22-A23. Retrieved May 21, 2008, from Research Library database. (Document ID: 1264222301).
- Morse, D. E. (2004, Summer). Rethinking Employee Benefits: Part I. Benefits Law Journal, 17(2), 1-4. Retrieved May 21, 2008, from ABI/INFORM Global database.
- Orey, M. (2007, October). Labor law time warp: America's New Deal-era overtime laws need updating, but the political will is lacking. Business Week, (4052), 60. Retrieved May 21, 2008, from ABI/INFORM Global database.
- Rumpel, S., & Medcof, J. W. (2006). Total rewards: Good for tech workers. Research Technology Management, 49(5), 27-35. Retrieved May 21, 2008, from ABI/INFORM Global database. (Document ID: 1128116341).
Cite this Comparison Essay:
An Organizational Total Rewards Plan (2008, December 01) Retrieved August 15, 2022, from https://www.academon.com/comparison-essay/an-organizational-total-rewards-plan-140439/
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