Organizational Objectives and Total Compensation in Different Markets Essay

Total stipend encompasses all of the resources available to employees such(prenominal) as money, benefits, and services that reward the employee for their services with the company (Virginia Tech). A bestow compensation package coers may aspects such as extrinsic and congenital compensation. Extrinsic compensation is more of the monetary or legal subject matter behind paying employees. Intrinsic compensation is the quality of life at persist such as job variety or solicitude feedback. Companies can use their compensation packages to attract certain types of employees and as well as restrain them for an extended period of cartridge clip. However, the reward of total compensation to attack and conceal employees has not always been the manner in which companies treated their staff. For more age in history than not, companies would work their employees incredibly hard resulting in employees put forth much of their lifes to work and receiving very tiny in return.Laws and Reg ulationsThe Fair Labor Standards Act of 1938 (FLSA) had a significant equal in the manner in which employees argon to be rewarded for their work. FLSA set a minimum wage for employees to be pay, it established an overtime premium of time and a half for hours beyond 40 in a seven day period, and it set guidelines for how much minors were able to be worked (DOL, 2015). cost soften act of 1963 said that employers were not allowed to segregate their wages establish on employees gender. This act created an historic definition of equal work requiring both sexes are to receive equal opportunity for compensation.Women have chiefly always been paid less than men for doing the same jobs and the Equal Pay Act has been enforced to remedy the issue. Furthermore, the Civil Rights Act of 1964 went on to create sure that no person was discriminated against for race, color, sex, national origin, orreligion. This would include areas such as the hiring process employee reviews, working(a) cond itions, promotion opportunities (National Archives). This act was the forefront of dissimilating dissimilitude not only in the work place but also in all commerce and gentilityal establishments whether an employee, customer, student, or teacher.Taking the HR Consultant RoleThere are many things to consider deep down each company when it comes to creating a total compensation plan. Hiring a federally contracted employee in the government technology requires a different coming than hiring cashiers at a locally owned shop. While work colligate laws are pertain to all working individuals not all business are required to function in the same manner. For example, all working individuals are protected from discrimination. They must also earn overtime when deemed prerequisite according to FLSA. However, not all employers are required to provide medical checkup leave to their employees. Under the Family and Medical Leave Act of 1993, only employers with 50 or more employees within a 75 mile roentgen must provide this to employees (SHRM, 2010).The Davis-Bacon Act requires that federally contracted employees be paid a fair wages based on the current salary in the area. There are several varieties in total compensation available for employers to present a favorable plan to a positioning employee. These rules and regulations maintain some type of standardization from a governmental perspective. The laws and regulations mentioned rough were implemented to provide a standard level fairness amid employers and employees.They prevent individuals having to be put through high levels of extreme conditions from doing so without being properly rewarded for that tedious work. Without these laws and regulations companies would have complete control over their company and have the availability to to abuse their power. The establishment of such laws also created a competitive edge for companies when it comes to hiring and retaining employees. Much of todays winning compa nies are top competitors because they are employee focused companies. They aim to please the employees because they are aware that if the employees are happy the customers are happy.ResourcesDOL. Wage and Hour variance (WHD). Retrieved April 19, 2015, fromhttp//www.dol.gov/whd/flsa/National Archives. The Civil Rights Act of 1964 and the Equal Employment Opportunity Commission. Retrieved April 19, 2015, fromhttp//www.archives.gov/education/lessons/civil-rights-act/SHRM (2010). Family and Medical Leave Act (FMLA) of 1993. Retrieved April 19, 2015, from http//www.shrm.org/legalissues/federalresources/federalstatutesregulationsandguidanc/ ages/familyandmedicalleaveactof1993.aspxVirginia Tech. Total Compensation. Retrieved April 19, 2015, from http//www.hr.vt.edu/compensation/total_compensation/index.html