Total compensation analysis essay sample

The spread sheet showing the compensation of Marine Corp E-4 Corporal contains the base salary, time off pay, disability pay, pension, social security and health care. In total there are six salary and benefit components. The compensation scheme does not include many benefits that are available in other job categories. The base pay stands at $ 25, 923, time off allowance is $3150, disability allowance is $233, pension is $1930 and health care is $6592. The total as displayed in the spread sheet stands at $ 48, 936(International Business Machines Corporation. 2014).
The compensation scheme is not satisfactory because it limits compensation of E-4 military corporals. The disability compensation which stands at $233 is low due to risks that the employee in the category discussed is likely to encounter. The kind of job of a marine does requires high disability compensation. This means that the amount of money payable with respect to disability should be reviewed upwards. However, these figures are understandable due to the low rank of the officers (Andrew Sylvia, 2014). The officers fall between the lance corporals and the sergeants.
There are other benefits that are lacking from the compensation scheme. This makes the job unattractive. Sick leave is an important ingredient in any compensation scheme because an employee must get sick at least once in their employment life. Failure to include paid sick leave in the compensation scheme is a disadvantage to the employee. There is no provision for maternity leave for military corporal of rank E-4. This should be a basic requirement within any compensation scheme. Maternity leave should be provided to marine military corporals since they should also raise families just like other employees in other sectors. It is true that the nature of the job of a marine Corp makes it different from other jobs, but these basic standards should be met to provide incentives to the employees.
Other allowances such as vacation allowance lacking from the compensation scheme. The employee in this category should at least have a yearly paid vacation. There should be no huge distinction between a Marine Corp E-4 corporal and other employees.
However, there are other good aspects of the compensation scheme that could act as motivators to persons in this job group. A paid time off of $ 3190 is good enough. It might provide the necessary incentives and, therefore, improving the performance of an employee. The health care benefit provided at $ 6592 is impressive. The amount of money dedicated to health care is capable of catering for the well being of the employee. It works towards improving the morale of the employee and, therefore leading to improved performance.
The pension payable is also impressive. The yearly payment may not be huge but since it is a deferred income, it would be useful to the employees at a future date. The money paid as pension is good enough to cater for the future well being of the employee.
The base pay for the rank is not badly off. The pay of $ 25, 923 is not bad compensation for the rank. The Marine Corps should be entitled to career sea pay of about $ 800 just like the sailors within the same job group.
The pay for the E-4 Marine Corps varies with places in which they work. It may not, therefore, be accurate to give exact figures of the salary payable to an employee. Since employees earn differently based on the geographical location, it is not easy to pinpoint with accuracy the exact figures and allowances payable to individuals.
I would like to see the addition of insurance for unemployment. This acts as a buffer to the employee against uncertain future events. It improves on morale and, therefore, increased performance. It can help if anything happens to my career due to the risky nature of the job. The insurance is, therefore, an incentive to work hard without worrying about my not being able to work in the future.
Paid sick and vacation leaves should also be added in the compensation scheme. An employee can fall sick at any time in the course off employment. If sick leave is provided in the compensation scheme, it provides the employee with the comfort that is required in improving the performance of an organization. Knowing that you will be catered for in health and in sickness is a motivator at the work place. It improves commitment to the job.
Paid vacation leave shows that the employee is valued by the employee. The feeling of being valued and needed at the work place motivates the employee and improves on the performance of an individual. The vacations provide an opportunity for the employee to relieve stress and come to work as a more re-energized person. The vacations should, therefore, be included in the compensation scheme for employees. The work of an individual improves both in quality and quantity id the employee feels valued by a company.
There should also be added a paid annual leave. Every employee needs time to rest and focus on other things such as family matters. The annual leave should be of at least one month. Annual leave gives employees the opportunity to re-energize.
The compensation scheme for Marine Corp E-4 is fairly lean and has no superfluous benefits. Almost all the benefits provided are necessary and removal of any of them can discourage employees. The time off, health care, pension, social security and disability pay are all important to an employee. There are basic and not superfluous.
There are other non-compensation benefits which promote the performance of the employee. Socialization with core workers and having the environment to realize personal needs is important in enhancing the performance of an employee (HRK blog (2012). The employee must feel that the work is dignified. If the work lacks dignity the employee will not be able to perform even if the base pay is increased. These are the non- compensation factors that contribute to good or poor performance of employees. The productivity of an individual may not be influenced by the direct contributions payable that person. Other non-monetary benefits may be useful in motivating the employee.
The compensation for Marine corps E-4 in the United States are paid a base pay $ 26751. This is different from the base pay of 25, 923. The information is difficult to obtain due to the unreliability of the sources of information. The figures are also difficult to come by due to difference in earning by the various Marine Corps within the E-4 Job group. The exact figures earned by individuals cannot be said with certainty.

References

Andrew Sylvia (2014) “ The Average Salary of an E4 Marine” Retrieved from http://www. ehow. com/about_5549474_average-salary-marine. html
HRK blog (2012) “ Financial and non financial factors affecting employee morale” Retrieved from http://www. hrknowledge. com/financial-and-non-financial-factors-influencing-employee-morale/
International Business Machines Corporation. (2014). E4 – Specialist/Corporal (Army) Salaries Retrieved from http://www1. salary. com/E4-Specialist-Corporal-Army-Salary. html