Introduction
Salary surveys are mediums used to determine the median or average compensation paid to employees in one or more jobs. Surveys may focus on one or more job titles, geographic regions, employer size, and or industries. Salary surveys may be conducted by employer associations, survey vendors, or by individual employers. In addition, the advantage of a Human Resource Information System (HRIS) in payroll is it automates the entire payroll process by gathering and updating employee payroll data on a regular basis (2004). It also gathers information such as employee attendance, calculating various deductions and taxes on salaries, generating automatic periodic paychecks and handling employee tax reports. With updated information, this system makes the job of the human resource department very easy and simple because everything is available on a twenty-four hours a day 7 times a week basis, and all the information is just a click away.
IBM and Hewlett-Packard
Hewlett-Packard (HP) is one of the tech world’s supplier of the most comprehensive portfolios in hardware and software services. They provide infrastructure and business offerings that span from handheld devices to some of the world’s most powerful supercomputer installations. Its products include personal computers, servers, storage devices, printers, and networking equipment. The company’s service unit provides IT and business process outsourcing, application development and management, consulting, systems integration, and other technology services. HP’s software products includes enterprise IT management, information management, business intelligence, and carrier-grade communications applications. The company markets to consumers, businesses, government agencies, and schools in more than 170 countries (2009). On the other hand, International Business Machines Corporation (IBM) builds and manufactures information technologies, including computer systems, software, networking systems, storage devices, and microelectronics worldwide. Its Global Technology Services offers IT infrastructure and business process services, such as strategic outsourcing, business transformation outsourcing, integrated technology, and maintenance. Its Systems and Technology offers computing and storage solutions, including servers, disk and tape storage systems and software, semiconductor technology and products, packaging solutions, engineering and technology services, and retail store solutions. IBM serves banking, insurance, education, government, healthcare, life sciences, aerospace and defense, automotive, chemical and petroleum, electronics, distribution, and communication markets.
Compensation Systems of IBM and HP
Compensation and benefits differ from country to country but all of them have staple advantages. In HP, the pay and benefits has a philosophy, known as the Total Rewards program. The philosophy states that the company’s success depends on rewarding the talented employees who can achieve exceptional results. HP uses variable pay programs to reward strong and consistent company and individual performance (, 2007). They also provide opportunities for employees to become shareowners through stock purchase programs. The managers are expected to differentiate rewards based on individual efforts. Total rewards program are competitive within relevant markets and can be differentiated by business, function, and job classification. In addition to base and performance-related pay, compensation also provides health plans, income protection and retirement and savings packages. Bonuses are given individually and they vary by business unit results and individual performance rather than overall company performance. On the reverse company, the compensation and business approach of IBM provides cash compensation opportunity that includes competitive base pay, growth driven profit sharing bonus, commissions, rewards and other forms of earnings that will attract, retain and motivate high performing employees. The pay will be strongly influenced by the results vacation and spring bonus, consolidate allowance, IBM recognition program and shift/standby allowance (2009). Benefits cover the protection, security, and opportunity issues of each employee. Government social insurance, government insurance fund, group life insurance and supplemental medical insurance, and saving plan are some of the remunerations employees will enjoy at IBM.
Conclusion
Both companies more or less have the same compensation and benefits
packages. But they are different in many ways. One is they differ in management and styles on how they will further strengthen their marks as the exceptional computer technology and consulting corporation. Both IBM and HP focuses on the systems used every day by companies around the world, the software, and the growing services business. IBM and HP have devoted huge resources to building their services capabilities and it is their not so secret recipe in becoming known as the world’s two giant companies in the information technology world.
References
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