Mandated Governmental Benefits and the Regulations Essay

Benefit Programs and Compensation Administration Lisa Hodges HRM401-Assignment 5-1 Francine Warhman, Professor July 25, 2014 Mandated Governmental Benefits and the Regulations: Employers provide a percentage or portion of wages that are mandated by the government in what they may pay as far as minimal wage is concerned. A lot of employers also decided to offer other benefits to their employees. Employers aren’t mandated to provide the majority of the benefits they do offer but once they have decided to add additional benefits to their compensation package there are multiple laws that have to be followed that are governed by state and federal laws. As stated some of the more common benefits are wages and†¦show more content†¦As difficult times tend to loosen these binds, many employers find that reminding employees of the dollars and cents value of that relationship can provide a little fresh glue (HRO Today - Human Resource Outsourcing Today).† Employees have to consider not looking at just the base salary if there are non-monetary benefits, perks and extras to consider as well. Unions have a significant effect on those who are in unions and those who aren’t in unions in relation to total compensation plans and benefits. Unions in their bargaining for the employees can potentially increase the salaries, increase the benefits as well as encourage or help an organization offer up additional perks. Unions allow for equality within the lower and middle class sector, those who work in more labor intensive careers and those who are limited in the degree they hold by fighting for those workers to ensure some amount of fairness. Unions can impact the salaries of an industry that doesn’t have a union in a particular building because the unions are in the industry the worker would be paid a more because of that even though the union may not be physically in the building. The biggest impact that a union has on a total compensation package is the perks or additional benefits of employees by bargaining for leave with pay, which ends upShow MoreRelatedEconomics And Competitive Strategies And Government P olicies1527 Words   |  7 Pagesprofits. We will explore mergers and merger activity within the industry as well as current and expected government policies and regulations in place to address issues related to externalities. We will also take a look at the effects of global competition on the decisions made by management with regards to change in labor demand, supply, relations, unions, and rules and regulations in the auto industry. 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