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Organizational Objectives and Total Compensations

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Organizational Objectives and Total Compensation in Different Markets
HRM/324
Haleigh Phillips

Organizational Objectives and Total Compensation in Different Markets
Most employees do not realize that their salary in not the only means of compensation from their employer. Companies utilize intrinsic and extrinsic compensation to offer their employees the total package and encourage them to be hardworking, dedicated, and loyal staff. Extrinsic compensation is rewards such as pay raises, paid vacation, paid sick leave, and insurance benefits. Intrinsic compensation is non-monetary rewards such as a promotion without pay as a team leader, or giving the employee a new job that puts trust in them to make the decisions without the help of a superior. Intrinsic is designed to help make the employee feel they are needed and encourage them. Human resource managers use compensation as means to get hard working staff that will remain with the company long term. Unfortunately, we have had to legislate laws and regulations because of how employees once were treated. (Martocchio, 2015,). Workers were underpaid, overworked, and were given reduced benefits if offered any at all. Luckily, we have come far in regards to this type of treatment. Employees now are rewarded with total compensation packages that promote employee loyalty to the organization they are employed.
Laws and Regulations The Fair Labor Standards Act was established to set what minimum wage would be and other aspects such as overtime affecting all employees alike. (Martocchio, 2015,). Without this law, workers would not get paid overtime for working additional hours over the forty hours a week time frame. The Americans with Disabilities Act of 1990 protects people who are deemed disabled from not getting a good advantage to someone who is not disabled. This law mandates that just because a potential new…...

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