Compensation Practice

Anonymous
timer Asked: Feb 5th, 2018
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Question description

Use the Internet to research a publicly traded company for which you would like to work.

Write a six to eight (6-8) page paper in which you:

  1. Briefly describe the company you researched, its compensation strategy, best practices they are applying, and compensation-related challenges they are facing.
  2. Analyze how your company applies compensation practice to determine the positive or negative impact to the company and its stakeholders.
  3. Examine the ways in which laws, labor unions, and market factors impact the company’s compensation practices. Provide specific examples to support your response.
  4. Evaluate the effectiveness of traditional bases for pay at the company you researched.

Tutor Answer

ProfessorEmily
School: Duke University

Attached.

Running head: COMPENSATION PRACTICE

Compensation Practice
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COMPENSATION PRACTICE

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Company Background

Samsung Electronics Co. Ltd is an electronics business conglomerate headquartered in
Suwon, South Korea. It is a division of the Samsung group that is made up of numerous affiliated
businesses under the Samsung brand. The Samsung group was established in 1938 by Lee Byungchul and diversified into several segments such as textiles, food processing, and insurance. The
Samsung Electronic division was founded in 1969 as a publicly trading company being headed by
Lee Kun Hee. Samsung has assembly plants in over 79 countries, and as per 2017, it has 308, 745
employees. It’s headed by Lee Kun-hee as the chairman, Lee Jae-yong as the vice-chairman and
Kwon Oh-hyun who doubles up as the CEO and the vice-chairman. The majority of the consumers
are familiar with the Samsung products, particularly Samsung electronic products like cell phones,
fridges, and television sets. With a huge international presence, the company has an extremely
diverse workforce of employees with different cultures, values, and backgrounds. The high level
of innovation in the manufacture of products such as mobile phones is attributed to the diversity
of the Samsung workforce and its success since inception. Samsung Electronics is the company
that I would like to work for, and therefore, this paper aims to analyze the compensation practice
in the company.
Compensation Strategy
The compensation strategy at Samsung is diversified with the main form being
remunerations that are based on positions and responsibility of the employees in the company.
Other forms of compensation entail non-financial incentives such as the flexible benefits scheme
that was launched in 2012 to retain talented employees. Since the company’s focus on innovation
runs through the organization and culture, engagement is the company’s primary objective aimed
at hiring and retaining employees in this highly competitive consumer electronics industry. The

COMPENSATION PRACTICE

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introduction of flexible benefits plans integrated an online benefits portal that enables the company
to receive feedback from the employees about compensation. In 2014, Samsung introduced new
benefits that were intended to improve the employee healthcare and wellbeing. This includes
personal accidents insurance, season ticket loans, and discount dining card that aimed to provide
a widespread employee value proposition, an essential component of Samsung’s benefits
phil...

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Anonymous
Outstanding Job!!!!

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