Traditional Compensation Approach and Total Rewards
Discussion Assignment Requirements: Please respond to the question with 250 words and support with four academic references or peer-reviewed journals. One may be the textbook. Please use four academic references or peer-reviewed journals.
Compare and contrast the differences between arbitration, conciliation, and mediation. What are the pros and cons of each? How does each ADR model benefit the employer/employee?
Complete Assignment Requirement: Write a minimum of 1500 words for the total assignment response excluding references. Please make sure you answer all questions and distribute your responses evenly within the answers. A minimum of four scholarly/ EBSCO external sources references behind the textbook.
For this assignment, write a narrative essay (minimum 1500 words) in which you address and discuss the questions and statements listed below. Use at least four scholarly sources and remember to demonstrate a thorough understanding in your essay. Cite your sources in APA format
- Explain the differences between a traditional compensation approach in comparison to a total rewards compensation approach. What two factors have contributed to the entitlement orientation? What are the three major objectives of the FLSA?
- In base pay programs, employers often categorize jobs into groupings that tie the FLSA status and the method of payment together. State them and briefly explain. Describe the benefits that are commonly given to executives.
- Describe how co-payments and using defined contributions plans can be used to control healthcare benefit costs. The Consolidated Omnibus Budget Reconciliation Act requires that most employers with 20 or more employees offer extended healthcare coverage to what three groups? Describe how employers educate their employees about the values and costs associated with the benefits they receive.