Professional Documents
Culture Documents
By:
Andres, Noemi B.
Atendido, Rocelle A.
Gruta, Melanie G.
Perez, Ma. Angelou C.
Rosimo, Justine Mei Veneece P.
CHAPTER 1
The Problem and Its Background
Introduction
Compensation is the equivalent in any form that is given to the
individual for his work. This recompense is also called job reward. (Human Resource
Management Principles and Practices, Concepcion Rodil Martires, 2007 p. 217) The most
common compensation are wages, salaries and tips. Organizations usually associates
compensation/pay ranges with job descriptions in the organizations. The ranges include
the minimum and the maximum amount of money that can be earned per year in that role.
Benefits serve functions similar to pay, as it is a part of the total
compensation paid to employees by their employers. It contributes to attracting,
motivating, and retaining employees. Different employees look for different types of
benefits and they have come to expect that benefits will help them maintain economic
security. Benefits such as Social Security contributions, pensions, and retirement savings
plans help employees prepare for their retirement while insurance plans help to protect
employees from unexpected costs such as hospital bills. These different important roles
of benefits are one reason that benefits are subject to government regulation. Some
benefits, such as Social Security, are mandated by law and there other important
regulations affecting employee benefits. (Noe et.al Hollenbeck, Gerhart, Wright, 2004 p.
403)
As to Republic Act No. 8282, otherwise known as the Social Security Act of
1997, refers to the social security system in the Philippines that is initiated, developed
and promoted by its Government. The social security system is aimed at providing
protection for the SSS member against socially recognized hazard conditions, such as
sickness, disability, maternity, old age and death, or other such contingencies not stated
but resulted in loss of income or results to a financial burden.
As a citizen of the Philippines, every Filipino has a right and this right has a
counterpart of responsibility. Being an employer he must give what is due to his
employees. In the part of the employee, it is his responsibility to perform his job
accordingly and accurately.
The Researchers aim to determine the Compensation and Benefits Administration
in Selected Small Construction Firms in Marikina City. Those who did not receive the
exact compensation and benefits remain to experience poverty since minimum wage is
not enough to support the necessities of the family of every employee. The benefits of
employee can be a positive thing for both employees and managers. It can make a happier
workplace and even improve office relationships. These benefits can be used to attract
employees and keep them interested in their jobs in order to increase employee tenure.
Motivators
Hygiene Factors
Achievement
Recognition
Micromanagement
Advancement
The work itself
Responsibility
Potential for promotion
Potential for personal growth
Relationships
Job security
Personal life
Work Condition
Status
Salary
some of the properties of a motivator, with dynamics similar to those of recognition for
achievement.
1. Profile of
respondents in
term s of :
Age
Civil Status
Education
Position
Length of
Service
Work experience
2. Policies in
giving
compensation and
benefits to
construction
workers
Skills
Perform ance
Project
accomplishment
3.m anagem ent
im plement the
policies in giving
compensation and
benefits to
construction
workers
* Salary
* Working hour
4. extent of the
policies in giving
compensation and
benefits to
workers as to:
* Capital
* Project Accomplish
5. difference on
the extent of
policies against
nature of
business.
* Interview
COM PENSATION
AND BENEFITS
ADMINISTRATION
IN SELECTED
SMALL
CONSTRUCTION
FIRM S IN
MARIKINA CITY:
AN ASSESSM ENT
* Survey
Questionaire
TO LET THE
W ORKERS KNOW
THE
COM PENSATION
AND BENEFITS
THAT IS FITS TO
THEIR
PERFORMANCE
Definition of Terms
For a better and clearer understanding of the study, the researcher has defined
some of the terms used.
Benefits- is somethingthat will provide advantage for others, something you may
receive as compensation from an insurance company or event to raise money for a
worthwhile cause.
Compensation- means all payments made under this
Compensation Administration-Is the maintenance function of the most sensitive
to conceptualize and operationalize is compensation administration
Retirement-as seclusion or privacy or withdrawal from work due to age
Employee-includes any person in the employ of an employer (Art. 212(f), Labor
Code of the Philippines)
Employer-means any person natural or judicial, employing the services of the
employee. It includes any person acting in the interest of an employer, directly or
indirectly (Art 212(e), Labor Code of the Philippines)
Wages-Payment for labor or services to a worker, especially remuneration on an
hourly, daily, or weekly basis or by the piece.
Salary regular wages received by an employee from an employer on a weekly,
biweekly, or monthly basis.