Title :
Competency-based compensation and equitable profit sharing
Author :
Manalo, R.G. ; Valenzuela-Manalo, M.D.
Author_Institution :
Manila Electr. Co., Pasig City, Philippines
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.
Keywords :
corporate social responsibility; incentive schemes; productivity; profitability; competency-based compensation; corporate social responsibility; cost; equitable profit sharing; industrial peace; productivity; profit maximization; stakeholder interest; wealth distribution; Companies; Government; Incentive schemes; Productivity; Standards organizations; Competency-Based Compensation; Corporate Social Responsibility; Equitable Profit Sharing;
Conference_Titel :
Industrial Engineering and Engineering Management (IEEM), 2010 IEEE International Conference on
Conference_Location :
Macao
Print_ISBN :
978-1-4244-8501-7
Electronic_ISBN :
2157-3611
DOI :
10.1109/IEEM.2010.5674311