Competency-based compensation and equitable profit sharing

College

Ramon V. Del Rosario College of Business

Department/Unit

Economics

Document Type

Conference Proceeding

Source Title

IEEM2010 - IEEE International Conference on Industrial Engineering and Engineering Management

First Page

2513

Last Page

2517

Publication Date

12-1-2010

Abstract

This paper is about the promotion of industrial peace where labor and management work hand in hand to succeed in their business. The frameworks on competency-based compensation and equitable profit sharing are meant to distribute the wealth generated by businesses equitably and to efficiently manage the business in terms of cost and productivity. In this manner, prosperity will be achieved even in developing countries where gap between the very rich and the very poor is beyond imagination. Profit maximization is given a special meaning in this study. It is no longer just about shareholders' wealth but that of all stakeholders' interests. ©2010 IEEE.

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Digitial Object Identifier (DOI)

10.1109/IEEM.2010.5674311

Disciplines

Labor Economics

Keywords

Wage payment systems; Profit-sharing

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