Analyze the reasons that HCOs strive for compensation that treatsFair CompensationIntroduction and AlignmentIn excellent HCOs, Human Resources Management (HRM) emphasizes training for virtually all associates, supports the transformational culture by training all managers and supporting their development, and advises on all human resource issues.
Analyze the reasons that HCOs strive for compensation that treatsFair CompensationIntroduction and AlignmentIn excellent HCOs, Human Resources Management (HRM) emphasizes training for virtually all associates, supports the transformational culture by training all managers and supporting their development, and advises on all human resource issues. Traditional HRM functions of recruitment, compensation, benefits management, and collective bargaining continue. In fulfilling its purposes, HRM becomes a central force that shapes and sustains the culture of empowerment and transformation, a major contributor to improvement goals and a critical component of strategy development.Upon completion of this assignment, you should be able to:Analyze the reasons that HCOs strive for compensation that treats similar positions equitably and that is competitive with similar employment elsewhere.ResourcesTextbook: The Well-Managed Healthcare OrganizationWebsite: Online Student Resources and Book Companion: http://www.ache.org/pubs/hap_companion/book.cfm?pc=2156Background InformationCompensation constitutes more than half the expenditures of most HCOs. From the organization’s perspective, such a large sum of money must be protected against both fraud and waste. From the employee’s perspective, accuracy regarding amount, timing, and benefit coverage should be perfect. Fair compensation is based upon perceptions and must be properly managed to find the win-win for the HCO and the employee.InstructionsReview Chapter 11 in The Well-Managed Healthcare Organization.Navigate to the threaded discussion and respond to the following topic adapted from The Well-Managed Healthcare Organization