1、 中文 3090 字 英文资料及译文 姓 名 史蒂夫 专 业 工商管理 班 别 XXXXX 指导教师 X X X 日 期 二零一四年五月十二日 译文资料原文 What is Compensation? An employees total compensation has three components. The relative proportion of each(known as the pay mix)varies extensively by firm. The first and(in most firms) largest element of total compensati
2、on is base compensation, the fixed pay an employee receives on a regular basis, either in the form of a salary (for example, a weekly or monthly paycheck) or as an hourly wage. The second component of total compensation is pay incentives, programs designed to reward employees for good performance. T
3、hese incentives come in many forms(including bonuses and profit sharing) and are the focus of chapter 11. The last component of total compensation is benefits, sometimes called indirect compensation. Benefits encompass a wide variety of programs(for example, health insurance, vacations, and unemploy
4、ment compensation), the costs of which approach 41 percent of workers compensation packages. A special category of benefits called perquisites, or perks, are available only to employees with some special status in the organization, usually upper-level managers. Common perks are a company car, a spec
5、ial parking place on company grounds, and company-paid country club memberships. Compensation is the single most important cost in most firms. Personnel costs are as high as 60 percent costs on certain types of manufacturing environments and even higher in some service organizations(for example, lab
6、or costs amount to approximately 80 percent of the U.S. Postal Services budget). This means that the effectiveness with which compensation is allocated can make a significant difference in gaining or losing a competitive edge. For instance, a high-tech firm that provides generous compensation to man
7、agerial and marketing personnel but underpays its research and development staff may lose its ability to innovate because competitors constantly pirate away its best talent. Thus ,how much is paid and who gets paid what are crucial strategic issues for the firm； they affect the cost side of all fina
8、ncial statements and determine the extent to which the firm realizes a low or high return on its payroll dollars. Balancing Equity Ideally, a firm should try to establish both internal and external pay equity, but these objectives are often at odds. For instance, universities sometimes pay new assis
9、tant professors more than senior faculty who have been with the institution for a decade or more, and firms sometimes pay recent engineering graduates more than engineers who have been on board for many years. You may wonder why the senior employees accept lower pay instead of leaving and competing
10、for higher-paying positions elsewhere. Senior faculty are usually tenured, which means they would give up job security if they went to another university. Further-more, both college professors and engineers work in fields where the knowledge base is constantly changing, making recent graduates(who a
11、re more likely to be aware of new developments in their field) somewhat more valuable employees. In addition to balancing internal and external equity, many firms have to determine which employee groups pay will be adjusted upward to meet(or perhaps exceed)market rates and which groups pay will rema
12、in at or under market. This decision is generally based on each groups relative importance to the firm. For example, marketing employees tend to be paid more in firms that are trying to expand their market share and less in older firms that have a well-established product with high brand recognition
13、. In general, emphasizing external equity is more appropriate for newer, smaller firms in a rapidly changing market. These firms often have a high need for innovation to remain competitive and are dependent on key individuals to achieve their business objectives. Much of the relatively new high-tech
14、 industry fits this description. For instance, with a sales growth rate of at least 40 percent annually during the last few years, Dell Computers CEO Michael Dell claims the number one priority for the company is hiring and retaining scarce talent. The CEO is not afraid to get in on the act, accordi
15、ng to Dells HR Director Andy Esparza. Ill call Michael or e-mail him to say, Weve got a recruit who has a couple of competing offers. Would you call him? says Esparza. And hell pick up the phone right away, or use his car phone on his way home whatever he needs to do to make the call. He is a great
16、closer.Dell negotiates with each prospective employee to devise a compensation package that depends on the persons value to the company. A greater emphasis on internal equity is more appropriate for older, larger, well-established firms. These firms often have a mature product, employees who plan to
17、 spend most of their career with the firm, and jobs that do not change often. Much of the regulated utilities industry fits this description. fixed versus variable pay Firms can choose to pay a high proportion of total compensation in the form of base pay(for example, a predictable monthly paycheck)
18、or in the form of variable pay that fluctuates according to some preestablished criterion. For example, CitiBank pays its employees(except for those at the highest executive ranks)almost exclusively in the form of fixed compensation or base pay. In contrast, Anderson Windows pays its employees up to 50 percent of their total compensation in the form of a bonus based on company profits for the
