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Vizio is a privately-held producer of consumer electronics, based in Irvine, California, USA. It was founded in October 2002 as V Inc.[2]

Vizio is a company back support by one of top hi-tech HDTV design factory from Taiwan, AmTRAN Technology Corporation 中華民國瑞軒科技. The AmTRAN Technology Corporation established 1994, revenue is NT$ 63.7 billion, more than 5,000 employees. AmTRAN is a reputable long time OEM TV monitor factory for Apple, Sony, Sharp, etc. In 2007 AmTRAN won the top design award from Germany's IF and Red Dot. Since 2007 Vizio earned as No.1 flat TV brand on US market


The term compensation administration, or alternatively, wage and salary administration, has come to be accepted as the designation for that field of endeavor concerned with the establishment and implementation of sound policies and methods of employee compensation. It includes such areas as job evaluation, development and maintenance of wage structures, wage changes and adjustments, supplementary payments, profit sharing, control of compensation costs, and other related pay items.

Employee compensation refers to all forms of pay or rewards going to employees and arising from their employment, and it has two main components. There are direct financial payments in the form of wages, salaries, incentives, commissions, and bonuses, and there are indirect payments in the form of financial benefits like employer-paid insurance and vacations.

In tern, there are essentially two ways to base direct financial payments to employees: on increments of time and on performance. Most employees are still paid based on the time they put in on the job. For example, blue-collar workers are usually paid hourly or daily wages; this is often called day work. Some employees managerial, professional, and usually secretarial and clerical are salaried. They are compensated on the basis of a longer period of time (like a week, month, or year), rather than hourly or daily.

The second option is to pay for performance. Piecework is an example: it ties compensation directly to the amount of production (or number of “pieces”) the worker produces, and is popular as an incentive pay plan. Psychologists know that people have many needs, only some of which can be satisfied directly with money. Other needs for achievement, affiliation, power, or self-actualization for instance also motivate behavior but can only be satisfied indirectly (if at all) by money. Yet even with all our more modern motivation techniques (like job enrichment), there’s no doubt that money is still the most important motivator.

Goals of Compensation

There are four principal goals that compensation programs may seek to accomplish.

· First they seek to serve a labor market function of allocating people among firms according to the perceived attractiveness of jobs as expressed by the rat of pay and associated pay supplements.

· Second, carefully designed compensation programs enable management to control wages and salaries and control labor costs.

· A third major objective of wage and salary programs is to keep employees content, to minimize quitting, and to reduce employee complaints and grievances due to inadequate or inequitable wage rates.

· A fourth and final goal of compensation is to induce and reward better performance. In other words, pay is looked upon as a motivator.

Factors affecting the compensation

Union influences

Pay / salary / wages rates is the major issue in collective bargaining. However, other issues include cost of living, income security, time of with pay and health care.

Legal Aspect

All the organizations are bound to follow the Government rules and regulations while deciding the compensation for their employees. Also labor laws and workers Act. are considered. In addition various organizations have their own policies for compensation.

Compensation Policy

An employer compensation policy also influence the wages and benefits to the employees. One consideration is that whether the organization is leader or the follower regarding pays / salaries / wages. Other important policies include the basis for salaries increases, promotion and demotion, over-time pay policy and policy regarding probationary period and leave period.

Equity and Its Impact on Pay Rates

The need for equity is crucial factor in determining the pay rates, specially external and internal equity. In case of external equity, pays must compare favorably with other organizations. Whereas internal equity means that each employee should view his or her pay as equitable given other pay rates in the organizations.

Process of establishing pay rats while insuring external & internal equity

Step 1: conduct an salary survey

A survey aimed at determining prevailing wage rates. A good salary survey provides specific wage rates for specific jobs. Different types of salary survey including formal, informal, commercial and Government, are conducted in this regard.

Step 2: Determining the worth of the job / job evaluation

Job evaluation is aimed and determining a job’s relative worth. Here we determine the worth of one job relative to another and eventually results in wages or salaries hierarchy. The job is evaluative through the content of job in relation to one another or through the comparable factors such as skills, efforts, responsibility and working conditions.

Step 3: Group similar job into pay grade

Similar nature and status jobs are grouped in one category of pay grade. Meaning there by these jobs are paid equal amount of salaries / wages and other allowances and benefits.

Step 4: Price each pay grade

Assignee pay rates to each of pay grades. Individual pay rates would have to be assigned to each individual job.

Step 5: Fine-tune the pay rates

As the inflation keep on increasing there is a need to fine-tune the pay rates i.e. adjustment according to the inflation. It is a continues process which takes place with the time. Normally the organizations undertakes this process on yearly basis.

Current Issues in Compensation Management

Ø Comparable worth of job.

Ø Pay secrecy.

Ø Inflation and salary compression.

Ø Cost of living differentials.

Ø Legal issue.

Organization Development
is a well-established supplier of sports clothing and equipment. has successfully opened franchised chains of department stores all over the world. The stores provide the public with top quality apparel and equipment at “value for money” prices. Management is responsible for day-to-day operation of the store and human resources.
Life/Work Balance
believes in making difference in people's lives has made it provide a variety of benefits to help its employees achieve optimum work/life balance, including:
• Paid Time Off (PTO) - Accrues on a per-pay period basis. One may earn 18-28 days based on your completed years of service
• Holidays - Nine company-paid holidays
• Bereavement - Up to three paid days
• Jury Duty
• Military Leave – pays its employees the difference between military pay and their base compensation for up to one year. They also maintain medical, dental, vision and life insurance benefits for one year
• Adoption Assistance – reimburses up to $5,000 ($2,500 for part-time associates) per adoption for eligible expenses
• Long-term Care
• Home/Auto Insurance
• Pet Care Discounts
• Flexible Work Schedules
• On-site Cafeterias
• Scholarships to trainees
• New Mother Rooms


Hours of Work
Hours of Work/Overtime certifies that it complies with legally mandated work hours; uses overtime only when employees are fully compensated according to local law; informs the employee at the time of hiring if mandatory overtime is a condition of employment; and, on a regularly scheduled basis, provides one day off in seven, and requires no more than 60 hours of work per week, or complies with local limits if they are lower.
Benefits
Benefits certifies that it complies with all provisions for legally mandated benefits, including but not limited to housing; meals; transportation and other allowances; health care; child care; sick leave; emergency leave; pregnancy and menstrual leave; vacation, religious, bereavement and holiday leave; and contributions for social security, life, health, worker's compensation and other insurance.
Labour Practices
Forced Labor certifies that it does not use any forced labor - prison, indentured, bonded or otherwise.Child Labor (Contractor) certifies it does not employ any person under the minimum age established by local law, or the age at which compulsory schooling has ended, whichever is greater, but in no case under the age of 14.
• 77% of the employees suffered from respiratory problems
• Thousands of females, mostly under the age of 25, worked 10. 5 hours a day, six days a week for $10
• More than half of the workers dealing with chemicals did not wear protective equipment, nor did they understand the nature of the hazards around them.
Most factory workers have little formal education, are poor and come from rural areas where opportunities to earn a leaving are meager.
 
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