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Bus 407 Compensation Practice Paper

1656 Words7 Pages

Compensation Practice BUS 407 Professor Taylor Strayer University Shanice Jones Compensation Practice Introduction The review of compensation practice is a critical element in the human resource management process. Apple Corporation is a U.S based Multinational Corporation that develops and sells consumer electronics and PCs to consumers globally. The company has made significant progress from its inception in 1976. The company has hired many and diverse employees from the different parts of the world. Apple Inc. has one of the most comprehensive and motivating compensation strategy. Apple Corporation’s focus for its employee compensation approach is to attract and maintain talented, entrepreneurial and creative team of executives. Therefore, the review is keen on evaluating the nature and implications of Apple Inc.’s compensation …show more content…

The company should ensure that the process of compensation management is a systematic model in offering monetary value to its employees. Intense compensation within the labor markets also creates a huge problem for the compensation committee at Apple. The increased demand for better salaries and competition for talented employees has created compensation wars among the multinationals. Apple Inc. is expected to come up with a more complex compensation approach to maximize staff retention. Controlling of the overall labor costs remains a huge challenge. The cost of labor has been increasing placing a huge burden on the creation of complex, efficient compensation strategies (Skenderi, & Skenderi, 2014). The compensation strategies implemented by the corporations must align with the local regulations and laws against the global corporate programs and processes. Adoption of Compensation Strategy to Determine the Positive/Negative

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