The Pay Model Essay Example | Topics and Well Written Essays - 750 words

The Pay Model - Essay ExampleCompare your ideas with someone with more experience, someone from another country, someone from another field of study.The stipend is something that is paid to cover the opportunity cost. For example, if an employee makes commitment to work for the organization for the next five long time it means he is ready to sacrifice his five years for one organization. These five years could be spent somewhere else in less time consuming and less hectic job. Therefore, the company must redress him the reasonable amount that can cover his cost of losing other jobs. The Most convincing definition from an employees perspective is the return. The return to employee covers both the entitlement, as hearty as, reward.The person who is more experienced has different perceptions regarding the definition of compensation. The compensation may be defined as endangerment of loss, whereas for a fresh employee the appetite for risk is high (Coppleman, 2004).Most of the devel oped countries may not need to think about the basic needs to cover in the compensation package only if in developing countries, employees perception for the compensation may be totally different the fulfillment of the basic needs may also be incorporated in the compensation package (Coppleman, 2004).Different fields require different level of compensation packages from the companies. For example, if the job requires frequent travelling, so the compensation may cover traveling, as well as, accommodation expenses, whereas if the job is totally desk based the compensation may be salary along with other perks (Coppleman, 2004).3. What is the network of returns that your cultivate offers your instructor? What returns do you believe make a difference in teaching dominance? What returns would you change or add to increase the teaching effectiveness?Network of returns refers to the fact that all bonuses, allowances and salary