Munchausen Syndrome A Mental Illness Essay - 1470 Words

Munchausen syndrome, also referred to as factitious disorder, is a mental condition in which sufferers cause or pretend to have physical or psychological symptoms that are not actually occurring. Munchausen syndrome is considered to be a mental illness because it is associated with severe emotional difficulties that are present with the illness. Due to the fact that there are no reliable statistics regarding the number of people in the United States who suffer from Munchausen syndrome, it is considered to be a rare condition to have. Even before getting its current name, this condition has been described since the biblical times. For example, sufferers of this syndrome during the Middle Ages went as far as scraping off their skin and putting leeches in their mouths to induce bleeding. This illness was named after Baron Karl Friedrich von Munchausen who lived from 1720 to 1797 and was known for claiming to ride cannonballs and traveling to the moon. The reason why I choose this psychological disorder was because it was brand new topic to me. I was very interested in the fact of not knowing anything about this topic previously so I was able to go into this research with a blank slate. After researching what this syndrome was, my main topic of interest was that Munchausen Syndrome is a largely unexplained phenomena, as it is both quite rare and difficult to diagnose. It is also practically impossible to treat, as most people will emerge with negative results. Most of theShow MoreRelatedMunchausen Syndrome By Proxy Is A Mental Illness And Form Of Child Abuse1856 Words   |  8 Pages Munchausen syndrome by proxy is a mental illness and form of child abuse that claims the lives of 9% of its victims (Heffner, 2004). It is defined as, â€Å"a psychological disorder in which a parent, typically a mother, harms her child (as by poisoning), falsifies the child s medical history, or tampers with the child s medical specimens in ord er to create a situation that requires or seems to require medical attention† (Merriam-Webster, 1977). In most cases, the mother is the abuser and plaguesRead MoreMy Search For A Mental Illness I Came Upon Munchausen Syndrome By Proxy1490 Words   |  6 Pages In my search for a mental illness I came upon Munchausen Syndrome by proxy which is a stem from regular Munchausen Syndrome. This mental illness was deep and caught my interest by the complexity of the disease and that cases that have been studied. The horrific cases of said mental illness caught my eye and I knew instantly I had to explore in depth the condition. The love between a mother and her children is an unbreakable bond, until Munchausen Syndrome by proxy takes a role in the relationshipRead MoreEssay Taking a Closer Look at Mà ¼nchausen Syndrome1026 Words   |  5 Pages Mà ¼nchausen syndrome is a psychiatric disorder that is distinguished by the patient causing or faking physical or psychological ailments for the sole purpose of being admitted to the hospital. A psychiatric consult nurse sees about one or two Mà ¼nchausen cases a month (Interview with John Hauber, RN). Out of the entire United States population, only half to two percent of people have the disorder (med icinenet.com), but the number is probably higher than that because the statistic shown only representsRead MoreTaking a Look a the Munchausen Syndrome816 Words   |  3 PagesMunchausen!!! If you know someone with munchausen syndrome, you know how bad the disease is. If you dont know someone with the disease, I will tell you all about it. the disease isnt very big or popular anymore, because not a lot of women dont have this disease anymore. I have done a lot of research, and most of the diagnoses were done in the 1900s, but the disease is still around some places. This disease is mostly diagnosed to women, because most men dont feel the need to these kind ofRead MoreMental Health1329 Words   |  6 Pagesï » ¿Mental Health Essay Mental health is all about how we think, feel and behave. It refers to our cognitive, and/or our emotional wellbeing. It describes a sense of wellbeing. Mental health ‘problems’ or ‘difficulties’ are terms used to describe temporary reactions to a painful event, stress, or systems of drug or alcohol use, lack of sleep or physical illness. It can also be used to describe long-term psychiatric conditions, which may have significant effects on an individual’s functioning. SomeRead MoreMunchausen Syndrome : A Rare Mental Disorder And The Most Severe Type Of Factitious Disorder3346 Words   |  14 Pages Munchausen Syndrome Stephen Balka Medical Careers Institute â€Æ' Abstract Munchausen syndrome is a rare mental disorder and the most severe type of factitious disorder. Those afflicted with Munchausen syndrome fabricate or cause injuries and illness in order to seek attention even to the point of undergoing painful, intrusive and unneeded medical and surgical procedures. Psychotherapy is the main treatment option for Munchausen syndrome, however there are no standard therapies or medicationsRead MoreHistory Of Munchausen Syndrome By Proxy2014 Words   |  9 PagesHistory of Munchausen Syndrome by Proxy The term Munchausen Syndrome by proxy was named in 1951 by Asher after a well-known German Baron story teller (Campbell V, McDougall, Justice G., 2015). Munchausen Syndrome by Proxy was defined as an acute illness which is supported by dramatic and plausible history by Asher (Campbell V, McDougall, Justice G., 2015). Asher characterized Munchausen Syndrome’s condition as an intense desire to deceive people as much as they can in order to be the center of attentionRead MoreEssay on Munchausen Syndrome by Proxy: Sick Kid or Sick Parent?(4)1262 Words   |  6 PagesMunchausen Syndrome by Proxy: Sick Kid or Sick Parent?(4) In relating the details of Munchausen Syndrome by Proxy (MSBP), the initial reaction is usually shock, followed quickly by fascination. The reason for the latter is that the medical community has yet to make up their minds about what exactly MSBP is. The debate: psychiatric disorder v. child abuse. Essentially the arguments for both create a divide between the brain and behavior, though not relating the two. Munchausen Syndrome isRead MoreA Brief Note On The Medical Child Abuse1929 Words   |  8 Pagesabuse Denise Eversole Lord Fairfax Community College Abstract Munchausen by Proxy Syndrome (MBPS) is a disorder of which should bring awareness to the medical field. It is not well understood and brings a lot of controversy. This disorder is when a parent, usually the mother, who purposely causes illness to her child rather physically or emotionally. The disorder was named after Baron von Munchausen, from the 18th century who gained fame from his tales. The child only becomesRead MoreFactitious Disorders1539 Words   |  7 Pagesand Factitious Diseases. Most aggressive study of the disorder began in 1950s, when an article published by a British psychiatrist, Richard Asher who initiated use of the term, Munchausen’s Syndrome[i], to describe a subtype of factitious disorder. The term factitious disorders (FD) refers to â€Å"any illness deliberately produced or falcified for the sole purpose of assuming the sick role.   Patients waste valuable time and resources with lenthy and unnecessary tests and procedures at a cost, accor ding

Economic Analysis - 795 Words

A lot has changed over the past year in The United States (U.S.), the US has a new President, the Republican party leads with most seats in Congress, and the U.S. Economy is on the rise. The first two factors have a hand in how well the economy is doing. With a new president in office, there have been some recent changes to policies and government regulations. Currently, a new tax reform is being proposed for the 2017 tax year, which looks to cut 1.5 trillion dollars towards business and individuals (Rappeport Kaplan, 2017). The tax break for individuals and businesses will influence the U.S. economy in one form or another. In the following pages the current state of the economy will be discussed, explore an environmental scan of today’s†¦show more content†¦64). With the individuals and organizations receiving a higher tax return under the new tax reform bill it provides marketing departments an opportunity to sell them their products. There are five sources used to evaluate the environmental scan: social, economic, technological, competitive, and regulator forces (Kerin et al., 2016). The demographics of the consumer enables the marketing team to target specific groups for higher sells (Kerin et al., 2016). With technological advancements products that were once out of reach of the average consumer are now obtainable. Together with the economy on the rise, companies have seen an increase in sells with their products. Today’s market is filled with competition between businesses in every sector. Although this may be true, organizations that practice poor social and environmental responsibilities can suffer loses in revenue and consumer loyalty (Kerin et al., 2016). Under the new tax reform bill, small business will receive more of a return on their taxes which encourages more individuals to start their own business in the future (Rappeport et al., 2017). Interpreting and identifying trends are easier for marketing departments when the ec onomy is strong because individuals are not just buying the necessary items. Future Markets Future markets with the continued growth in the U.S. economy should have an increase in consumer spending. Government involvement and federal regulations can hinder orShow MoreRelatedArticle Analysis for Economics1636 Words   |  7 PagesUniversity of Phoenix Principles of Microeconomics ECO/365 Professor James Harris III Aug 7, 2008 Article Analysis The article that will be used for this analysis is â€Å"Supply, demand, and the Internet-economic lessons for microeconomic principles courses† by Fred Englander and Ronald L. Moy. There will be definitions for the following economics, microeconomics, Law of supply and the Law of demand. 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By gathering information in a logic structure, the report states the previous and current impact of external factors and the way in which internal factors take place in the company. Using several figures from reliable s ources, the report aims to give an apparent economic picture andRead MoreEconomic Analysis Essay851 Words   |  4 Pagesï » ¿ Tahania Rashid MBA 6008 – Global Economic Environment September 14, 2014 Unit 3 Assignment 1 Chapter 9 - Problem 3, pg. 219 Q: You are a newspaper publisher. You are in the middle of a one- year rental contract for your factory that requires you to pay $ 500,000 per month, and you have contractual labor obligations of $ 1 million per month that you can’t get out of. You also have a marginal printing cost of $ 0.35 per paper as well as a marginal deliveryRead MoreBusiness Proposal Economic Analysis1552 Words   |  7 Pagesplans for single people or the disabled offering specialty services (Economics Online, 2010 - 2014). 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Economic Analysis Essay2122 Words   |  9 PagesApple, Inc. Economic Analysis Daniele Ligons Southern Weseleyan University  Table of Contents apple, inc. history 3 Microeconomic factors 4 macroeconomic factors 4 supply and demand 5 competitors 7 Apple, Inc.’s Future 8 recommendations 10 summary 10 References 12 Apple, Inc. History In 1976, Steve Jobs and Steve Wozniak founded Apple Computers, Inc. The young founders did not finish college and had a vision of making computers smaller and easier to use. Initially, they began theirRead MoreEconomic Cartoon Analysis Essay618 Words   |  3 PagesIn today’s grim economic climate, cartoonists across the country have taken pen to paper to satirize and make light of the gloomy situation the United States is currently in. This particular cartoon deals with several major economic principles, such as the idea that people face tradeoffs (Raj). To illustrate, in society, there is a tradeoff between efficiency and equity. Efficiency means society is getting the most it can from its resources, whereas equity is distributing economic prosperity fairlyRead More PEST Analysis (Political, Economic, Social Technical Analysis)636 Words   |  3 PagesPEST Analysis (Political, Economic, Social Technical Analysis) A PEST analysis (also sometimes called STEP, STEEP or PESTLE analysis) looks at the external business environment. In fact, it would be better to call this kind of analysis a business environmental analysis but the acronym PEST is easy to remember and so has stuck. PEST stands for Political, Economic, Sociocultural and Technological. (Technological factors in this case, include ecological and environmental aspects - the second E inRead MoreMalaysia Economic Analysis1404 Words   |  6 Pages Malasyia Country Report 3/7/2013 By: Zara Khurram Economic Analysis of Malaysia Malaysia is a multi-cultural Southeast Asian country with a federal constitutional monarchy. Malaysia originated from the Malay Kingdoms which were subject to the British Empire for a long time. Malaysia gained independence in August 1957. Today, Due to Malaysia’s natural resources, it has an average GDP growth rate of 6.5% for around 50 years. Malaysia has a very attractive GDP growth

Manage Remuneration and Employee Benefits Theory of Compensation Stra

Question: Discuss about the Manage Remuneration and Employee Benefits for the Theory of Compensation Strategy. Answer: Develop organizations remuneration strategy Remunerationis still a critical issue in the managing of human resource. How organizations remunerates its staff has an impact on its capacity to interest the right staffs and to motivate them to remain focused on critical business administration. Remuneration is what staffs get in exchange for their work. It also helps to strengthen important organization culture and fundamental standards and to enable the accomplishment of its business strategy objectives (Stone, 2008, p.4) Employment is of a different type. However, the remuneration of employees is a factor that has always not been communicated officially or even feasible for human resource departments and has its cons. For instance, it has this method of compensation in which paymentis through unit price produced by an employee. If remuneration adopted by an organization does not support their vision, direction goaland culture, they may need to close down business. The teams ideas, leadership, and goal drive the business. Objectives of the proposed remuneration strategy Supports business and human resource strategy. Attract and motivates staffs in their duties. Provides incentives first performance Reward past performance Provide the best return expenditure Design the best rewarding system for workers Staff remuneration and compensation structure Remuneration benefits Overtime compensation Future income reviews/increases Life insurance Paid holidays vacations Company day-care facilities List of Legislations considered in the remuneration strategy Fair Work Act 2009:This act creates a national workplace relations system that is fair to working people, promotes productivity, flexible for business and economic growth. Workplace Relations Act 1996 : It t provides the continuation of the federal award system which provided a minimum set of terms and conditions for employment and helps in maintaining relations at work place Workplace Agreement Act 1993: This is an individual written agreement on terms and conditions of employment between an employer and employee in Australia, under the Workplace Relations Act 1996. Evidence for research on market rates and comparison with other organization According to the government of Australia education department the salaries of a teacher starts at level 2.1 with $66 and reaches to level 2.9 with experience. It is shown in the table below Level Salary as in Dec2015 (per annum) 2.1 $66,475 2.2 $72,937 2.3 AU$79,824 2.4 AU$82,953 2.5 AU$86,206 2.6 AU$89,584 2.7 AU$93,096 2.8 AU$96,744 2.9 AU$100,536 Table 1: Salary as in Dec2015 (per annum) (Source: www.decd.sa.gov.au) The salary range of some of the private educational Institute in Australia is given below: Name Starting Salary(per annum) George Brown College AU$92,312 Humber College AU$ 60,807 Trinity College AU$ 67,407 Marist College AU$65,000 Table 2: Salary of few private colleges in Australia (Source: www.decd.sa.gov.au) Table 2 shows highly competitive rates of different educational institute for the teachers. However the rates vary on the basis of their brand name and facilities provided. The Sai Educational Institute need to compete with them to get quality teachers at competitive price. Motivate employees through proposed strategy The remuneration strategy will motivate the employees as it has given importance to incentives and rewards for the employees. The strategy has taken care of the working conditions of the employees and desires to provide them benefits for their hard work. The employees medical care and family trip, life insurance and other related benefits are taken care of in the strategy. It will motivate them to work better and improve their performance. The Institute has also provided good learning environment in the institute by providing informative library and easy access to resources for their research works. All this benefits will surely motivate the employees and will make the workplace desirable for them. Proposed strategy linkage with organizational strategic objectives. Universalistic approach indicates that some human resource activities such as incentive pay, is always better than others and that all organizations should implement these good practices (Pfeffer, 1994) The basic theory of contingency is that, for any organization to be effective policies must be consistent with the business policy of the organization. (Schuler and Jackson, 1987) Basic salary Every employee should receive his or her salary in time; this should correspond with the pay agreement and policy. The college strives to offer fair consideration remuneration and incentives to all staffs undertaking the contribution to the college. The college aim to achieve this by means of development of appropriate reward and incentives mechanism which are guided by: Fairness and equity (both internal and external) Guarantee to pay equity and gender balance The competitive environment inside which the organization works Balanced against the industrial and wider employment scheme offered tothe team. Health and wellbeing programs for staff members. Factors to consider when developing a remuneration strategy Budget Allocation The strategy should have an approach on how to allocate funds into salary and benefits. They should have clear guidelines on how much will be spent on wages and the percentage to be devoted toremunerations and other incentives. Budget allocation eases control of labor, healthcare and other miscellaneous costs that may arise. Develop Salary Ranges Developing salary ranges makes sure that employee pay is competitive with other organizations. For organizations to remain competitive, scaling of jobs within the same industry must be done so as to determine the kind of work done and be able to establish salary ranges that match with the job descriptions. Set a plan Having a plan on how the payments will be administered to provide for individual pay increases. Performance-based increases, promotions, raises for time spent with the organization or general increases to compensate for the changing economic factors and to remain competitive. Communication Communicate the plan to staff members. Describe how the program works so that expectations are defined. Communication will help build goodwill and good relations with your employees. Appraisals Perform employee performance evaluations under the plan. Explain how workers efforts relate to pay and provide responses to help employees understand job responsibilities and required expectations. Implementation of a Remuneration Strategy This is known a the turning of policies and plans into actions to achieve strategic objectives and set goals. The implementing of strategic plans is very critical more than the implementation of the strategies. Incentive compensation payments are based on achievement of a fixed set of objectives, formula or criteria. If results are realized, payment is made and if not, payment is not effected. The following steps will be considered in the successful implementation of the remunerations strategy. Have a detailed understanding of the knowledge and the background that the plan intends to support. Analysis of the firms professional goals, mission, and aims, the Human resource approach, and the reward philosophy. These forms the basis of the firmsorganization framework that the motivation benefit strategy will be aligned to and reinforced. Identifying core causes that drive the need for improving performance, cooperation, or employee commitment. It can be done by challenging whether there is a problem with payment methods, or any other factors that need more input. Identification of the businesss key tactical objectives. Know the areas that need improvement and allocate different weights to thetargets centered on impact, meaning, and your degree of self-relianceand the ability to measure results. Form a combined set of both fiscal and strategic objectives.There needs to be a range of economic and policy performance and compensation level and a payout opportunity that is consistent with the performance value and meaningful to staff. Define clear objectives for staff. The workers need to understand the goals clearly so that they have clear measures which will impact the sales and ensure production cost are lowered and profits achievable Remain engaged. The plan should be an ongoing process; It should be reviewed each and every year inline with the business settings and new goals and objectives. Communication channels. Use the plan as one way of communicating with staffs by providing feedback. Acknowledge the small and big wins and any other reinforcement or results achieved. Salary Package for Academic and non-academic staff The salary package for Academic and non-Academic staff includes basic pay, dearness allowance, house rent allowance, leave travel allowance, employer provident fund and children educational allowance Salary details of Academic Staff Amount Basic Pay AU$50,000 Dearness Allowances (5% of BP) AU$1,750 House Rent Allowances (10% of BP) AU$ 3,500 Leave travel allowances (3% of BP) AU$ 1,050 Employer Provident Fund( 5% of BP) AU$1,750 Children Educational Allowance(6% of BP) AU$2,100 AU$60,150 Table 3: Salary Package of Academic staff per annum Source: Author Salary details of Non-Academic Staff Amount Basic Pay AU$20,000 Dearness Allowances (5% of BP) AU$1,000 House Rent Allowances (8% of BP) AU$ 1600 Leave travel allowances (1% of BP) AU$ 200 Employer Provident Fund( 3% of BP) AU$600 Children Educational Allowance(3% of BP) AU$600 Total AU$24,000 Table 4: Salary Package of Non-Academic staff per annum Source: Author Outline the steps to implement the proposed remuneration strategy successfully. A company that has salary structure is able to manage their salary spending. It is also a good way of maintaining current employees and makes hiring and recruitment of employees easier. The following can guide in the implementation of a good salary structure. Establish value for every position in the firm When determining avalue for every position in the company, market prices have to be considered. Research on different organizations and how they pay for like jobs will help in establishing where Sai Educational Institute competitive posture The competitive position of a Sai Educational Institute is its global salary level compared to the market average across the scale jobs. The wage rates should be comparative to prices of other competitors. Compensable leverage This is how much more or less pay rate increases in your company, overall, as compared to the market rate increase for higher-paid positions in the organizational ladder. It helps in striking a balance between paying salary increases to staff when they get promotions. Outward inequalities Determine if some of the employees salaries are inconsistent with the firms relationship in the market across all the jobs. When the salaries are inequitable, it will be perceived as unfair Development of salary structures Decide if the salaries will be specifically based on minimum and maximums or if you will have pay grades whereby multiple positions are grouped together with same range Outline how you will review and update the remuneration strategy Review recent methods of reviewing salaries Interview workforce and management to scale how workers perceive the organization Come up with a way of reviewing salaries Define salary ranges that suit the firm Conduct workshops and training and integrate them with the human resource systems Considered factors and procedures during the review of the remuneration strategy The factors and procedures that should be that should be considered and followed when reviewing the remuneration strategy are discussed below: The pay review policy should have linkage with HR process so that the business needs are met. Planning should be done in advance about the review dates and effective connection should be made between the functions of HR, rewards, finances and business. Data should be gathered on inflations and cost of living of the country so that dearness allowance can be changed accordingly. The procedure of calculation should be simple with keeping in mind the requisite requirements. The management tools and technical back-ups should be used for completing the procedures effectively. The review of previous process should be done to understand it better The roles and responsibilities of the concerned people should be clearly defined in the procedure so that no loopholes emerge. The risk of reducing the incentives should be minimized and rewards should be given importance. Conclusion A firms strategy is a critical factor for a company, and it can last four many years. If an organization does not monitor the efficiency of the approach, it may lead to failure instead of success. There may be deviations in the result, which can be corrected as time goes. Normally, it is easy to fix errors is differences are found early Superannuation Superannuation is a savings plan whereby funds accumulateover a given periodto provide an income during retirement. It allows money to be reserved aside on a fixed interval basis for a specific duration of time. The money can be invested activities that will earn interest or in projects. The objective of this scheme Facilitate consumption smoothing over the course of a persons life. To help people manage financial risks during retirement. Help a person to be fully funded from savings To provide income in retirement Invest resources in the best interests of superannuation fund members Be straightforward and efficient, and provide safeguards to people during retirement. Method of implementation Employer contributions Compulsory superannuation guarantee (SG) contributions amounts must be paid to a selected pension fund for their workers at a rate of 9.5% of their earnings. Personal contributions Voluntary contributionscan be made by people towards their superannuation and in return get they get tax benefits for doing so. Benefits to employees A person's funds are combined with other investors, letting them make investments which are impossible for a single investor. Having a person's savings inaccessible for a set period is an attractive benefit to the individuals who might be drawn to "dip" into their superannuation fund. Itsa tax effective way of saving. Superannuation is the best tax effective way of saving for a longer duration. Governments have a concern about people who will retire without savings and depend on the government for support. Due to that, they have developed ways to encourage people to save within Super funds. Recent changes $1.6 million limits on the total amount of super that can be transferred into a tax-free retirement account The annual concessional contributions limit reduced to $25,000 and allowing catch up contributions of good caps over five years for balances of $500,000 or less A lifetime cap of $500,000 will be applied to after-tax concessions on super to reduce the capacity for superannuation to be used for capital accumulation effective immediately and backdated to 2007. Performance Based Remuneration ( PBR) Performance-based remuneration provides companies with the flexibility to attract and retain great staff. Performance payments are one-off payments made to employeesbya documented performance-based compensation plan, based on set performance targets. Payment is non-recurrent and based on achievements within specific timeframes Outline the concept of performance based remuneration Research indicates that performance-based compensation leads to the opposite of the desired outcomes when it is applied to any work involving reasoning rather than physical skill. The objective of this remuneration strategy A performance-based plan employs objective criteria to decide the incentive to be paid. These ideas form precisely known goals that the organization must achieve to receive the benefit. It is objective oriented and designed to identify specifically and incrementally reward the top performers. Method of implementation in the organization PBR methods tie the reward directly to particular business goals and management objectives. Firms must deliver competitive pay for the people who show reults, and low pay for low performers.For companies to achieve, this, they need to match quantifiable and manageable performance targets to company objectives. The common variables include: - Equity - the quantity and amount to be paid is normally centered on a part of value additional as determined by the system measuring performance of workers. Improvement sharing The company may adopt a system of distributing a portion of results to employees, based on performance versus plan. Bonuses These are awards in form of cash paid to the employees for amazing accomplishments or other activity-related deliveries; Benefits to employees Increase in Earnings: - It allows employees to increase their income since they are in control of their earnings. Over holiday seasons, workers can increase production to earn more money. Benefits to employers The increase in retention: - There is a positive link between effort and performance, and employee retention is enhanced since the staff that performs best is rewarded for his/her efforts. This makes them retainable to an organization. Less Supervision: - Organizations that use PBR experience a decrease in the need to supervise their staffs since they know their work output translates to their pay. Disadvantages of this remuneration strategy Less Input by employees: -This makes employees to fear giving managers their contribution for changes. Employees shelve their ideas even if they think they are right for fear of reduction in earnings. Various firms value and depend on their employee's input in order to make decisions concerning the company. Conflict among employees: - A disadvantage of pay based on performance policies is that they can create conflict among workers. An employee may that a supervisor displays partiality to other staffmembers and assists them to attain bonuses. Distrust and conflict create hostile working environments, which lessenefficiency. Fringe benefits- These are additional benefits provided to workers other than usual payment in the form of salaries. They offer a measurable value to individual employees. Fringe benefits are not connected to the performance of workers since they are an indirect form of reward and are given to staff because they are members of the company. Outline the concept and objectives of fringe benefits They create and increase good working relations. They promote the welfare of They act as a form of security to employees Help to motivate the employees Employees health is protected. Benefits to employees Contributeto boosting the morale of workers and pride in a company. Employees who have personal life policies enjoy additional protection. Employees have a peace of mind which ensures increased productivity. Benefits to employers Helps attracts and retain high-performing employees: - Fringe benefits play a significant role in keeping present employees content with their work environment while maintaining the competition from poaching top talent. Financial advantages: - employers pay premiums which in turn are tax deductible as an insurance expense to the company. Recruiting Talent: - There is much competition among companies. Thus they may find it difficult to attract a workforce based on salaries alone. Fringe Benefits Tax (FBT) and calculating FBT Fringe benefits tax- This is atax that companies pay on certain benefits they provide to their workers. The family members of the employee may also be included. The benefit may be a top up to, or part of, the employees income. Calculating FBT Assume a company pays the manager $500,000 P/a and provides a car benefit with a taxable value of $30,000 during the 2015/16 FBT year. The $500,000 is taxed at the applicable PAYG withholding rate which is withheld and pays to the ATO. The $20,000 car benefit is taxed as follows: Taxable Value $20,000 Multiplied by Gross-up rate x 2.1463 Grossed-up taxable value $42,926 FBT Rate 49% FBT Payable (rounded) $21,033 References Leow, LP Murphy, S 2008, Australian master superannuation guide, 12th edn, CCH Australia, North Ryde, New South Wales. Balkin, D. and Gomez-Mejia, L. 1987. Toward a contingent theory of compensation strategy. Strategic Management Journal, 8, 169-182. Beal, D 2008, Superannuation and retirement income planning, John Wiley Sons, Milton, Queensland. Ellig, B. 1981, Compensation elements: market phase determines the mix. Compensation Review I Third Quarter, pp. 30-38. Gupta. C.B. 2005, Human ResourceManagement, Sultan Chand Publishers, New Delhi Kerr, J. 1985, Diversification strategies and managerial rewards: an empirical study. Academy of Management Journal, 28, pp. 155-179. Lawler, E. 1981, Pay and Organizational Development. Reading, MA: Addison-Wesley. Pay, wages and salaries | Department for Education and Child Development. (2016). Decd.sa.gov.au. Retrieved 1 August 2016, from https://www.decd.sa.gov.au/working-decd/working-department/pay-wages-and-salaries Pfeffer, J. (1994), Competitive Advantage Through People, Harvard Business School Press, Boston Schneier, C.E., Beatty, R.W., Baird, L.S. 1987, The performance management sourcebook. Massachusetts: Human Resource Development Press. Stroh, E.C. 2001, Personnel Motivation: Strategies to stimulate employees to increase performance. Politeia, 20(2), 5974. Wils, T. and Dyer, L. (1984). Relating business strategy to human resource strategy: some preliminary evidence. Paper presented at the 44th Annual Meeting of the Academy of Management. Boston, MA.

Contemporary Issues In Human Resource Management †Free Samples

Question: Discuss about the Contemporary Issues In Human Resource Management. Answer: Identification of the key messages about Google as an employer Google is an American company of technological goods and services. Google primarily deals with internet services or products. Google has an innovative recruitment system. It is widely known for the space and encouragement it provides for the employees in the company. The HRM policy of a company always helps recruits the right individuals, helps them to adopt the situation and motivate them by allowing them to provide their innovative ideas to the management. Lopes, (2006) uploaded a video of Google recruitment policies. In the video, Jim Fitzpatrick plays the host in the recruitment video. She showcases the audiences about the advantages of an employee of Google. The video is an advertisement for the advantages an employee of Google possesses unlike the people of the employees of the other corporations. She interviews few of the employees who have worked outside Google and have joined Google for a fair amount of time. They have shared their transformed lifestyle after joining their jobs in Google. In the video, the host meets Garang Capito who was an engineer from Purdue University joined the Google after he worked in many other corporations. However, he describes the positive work culture and enthusiastic employees as a positive influence in his life (Maslow, 2013). As the work is so well arranged and organised every employee seems to be very productive for the company. Forbes, (2016) stated that the work culture of the Google is good because of psychological safety. According to Maslows Motivation theory, safety is one of the key issues which play a key role in the employee motivation (Tanner, 2016). The stability in the job profile of the Google is displayed with clarity in the recruitment video. The video also mentions about official and unofficial mentors. The new employees are always helped by a senior employee or official in the Google. An official mentor is allotted to every new comer in the company whereas, other senior employees also helps or mentors other employees according to requirement. Later the video also includes the fact that Google has allotted 20 percent of the work time of the employees to work on their own projects. The video also showcases that many of the employees are working with their specific ideas. Google allows such innovative ideas to flourish in their own backyard. It is quite uncommon among other leading companies in the United States. This innovation is a part of democratic decision making of the company (Strandburg-Peshkin, 2016). The company maintains this process in order to help the employees perform better and enhance their job satisfaction. As a company, Google believes in taking care of its employees. Google also provides a schedule of the employees to maintain the balance between work and life. The company has provided the facilities like Gymnasium and new child centres for the families of the employees. The video also introduces the viewers with the initiative called Google 15. In this innovative initiative, the organisation provides 15 pounds of organic vegetables for its employees. As organic vegetables are good for health, the snacks made up of it are good for the health of the employees. Hence, Google has applied this strategy in order to help the employees to stay healthy and fit. This is a magnificent incentive scheme which is unlike any other type of motivating initiative in the market. Generally the initiatives either deal with monetary incentives or paid leaves (Campbell Smith, 2015). However, this strategy makes the employees feel that the company thinks and feels for its employees and every employee is im portant for the organisation. Incorporation of the Human Resource Management theory and literature The video clearly showcases that Google is more interested in the creative minds. Technological innovation is the key to the business Google is involved in (Lopes, 2006). Hence, it tries to recruit the employees who are driven towards creating something new, the individuals who has the urge to innovate and find something new for the world. The HRM policies mainly include various motivational models and theories which are often utilised in the organisations. The theories like Herzbergs two factor principles, Maslows Hierarchy of Needs, the Expectation theory, Rensis Likerts participative Decision Making Theory and Gregorys Theory X and Theory Y. The recruitment policies and Human resource management of Google is quite innovative and has been positively working for the last decade. According to Herzbergs two factor principle, the de-motivating factors and motivating factors in the professional life of the employees are indifferent from each other (Beardwell Thompson, 2014). Herzberg was the first to differentiate between the motivational and the de-motivational factors of the employee. Herzberg categorises these factors as Motivational factors and the Hygiene factors. The motivational factors are achievement, recognition, advancement, work, responsibility and others whereas the hygiene factors are policy administration, micromanagement, relationships, job security, working conditions, status and personal life (Elliot, Dweck Yeager, 2017). In Google the management has kept both these factors in mind. The employees are well paid, they are provided with enough recognition and fame according to their achievement. Google also provides them with the opportunity to take responsibility to innovate and present new advices to the management. On the other hand, Google h as initiated micro management with the help of official and unofficial mentors for the new recruits. The hygiene factors like job security have been a major boost for the employees. It has an impact on the minds of the employees. It helps them to work faster and harder and feel for the company. Google also provides facilities like child care programs and gymnasiums as hygiene factors in the personal life of the employees. Hence, it can be understood that according to Herzbergs theory Google has a very successful HRM policy. Maslows theory of hierarchical needs showcases that employee motivation is primarily divided into five stages (Cherry, 2014). An employee feels a certain way according to the working conditions and appreciation he gets from his company. The five stages of needs are biological and physiological needs, safety needs, love requirements, esteem needs and self actualisation. The primary factors for the employees are physiological needs. The physiological needs include food, shelter, clothing and salary. After this, the employee requires safety followed by belonging, esteem and self actualisation. In Google, the employees are provided with a good salary structure, help and support from the other employees, safety and security by organisational structure and the allotted time for family and personal lives and status. Hence, it is much easier for teh Google employee to reach stage of self actualisation. Likerts Participative Decision making theory supports the democratic decision making process. It is is important to involve every employee in a company by asking them explore new ideas and work on it for the company (Irawanto, 2015). Google implies this process in order to remain successful in retaining the important employees in their system. Highlight the challenges organisations such as Google would face in their recruitment process. Schimdt, (2016) stated in his report that employee retention and employee recruitment is going to be a huge challenge for the leading companies in the United Sates. The report of Forbes mentions about a constant conflict between recruitment and Human Resource department of the same organisation. Ryan, (2017) stated in his report that five primary problems of the recruitment in the leading companies are unreal job advertisements, long procedures of job application, robotic communication by the recruiters , irrelevant tests and examinations of the participants and bad behaviour during the interviews. These problems often conclude into negative results. The recruiters should keep these aspects in mind before recruitment. The leading companies like Google and Microsoft often faces few challenges in recruiting the best employees in the market. The core problems are : The Hiring Managers are often not completely acquainted with the job role and recruits employees according to their personal choice (Williams et al.,2015 ). This creates havoc problems in the future for the company. It takes a long time to understand the quality of the candidates. The yardstick of educational qualification does not work all the time. The assessment of talent is impossible through the educational qualifications of a candidate (Breaugh, 2017). Good candidates often expect a lot from the companies. They often expect that the company will provide huge incentives along with monetary and non-monetary benefits for the employees (Breaugh, 2017). The companies often want to recruit employees who will stay for longer time periods. The loyalty of the employees is very important for the company (Breaugh, 2017). Hence, they recruit these aspects in the recruitment processes of the company. The problems of recruitment faced by the organisations like Google are to search for a creative mind and try to compete with the other leading corporations in recruiting the best employees. Google tries to recruit employees who are best suited for their work culture and will be able to innovate. According to Antoun et al., (2015), Google has a secret trick through which it recruits the best employees in the business. This report mentions that the company conducts the recruitment process through an elongated process. According to the report, the employees were asked to answer six challenging questions with in 1 hour and 48 minutes. The interview process is an elongated procedure through which it recruits better employees. References Antoun, C., Zhang, C., Conrad, F. G., Schober, M. F. (2016). Comparisons of online recruitment strategies for convenience samples: Craigslist, Google AdWords, Facebook, and Amazon Mechanical Turk.Field Methods,28(3), 231-246. Beardwell, J., Thompson, A. 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