netrashetty
Netra Shetty
Fluor Corporation is a publicly owned engineering, procurement, construction, and maintenance services organization. Fluor is headquartered in the Las Colinas area of Irving, Texas. The company employs more than 41,000 international employees and maintains offices in over 25 countries. Fluor is a Fortune 500 and a S&P 500 company
Once an individual is hired, he or she should receive a comprehensive orientation on the general
policies of the company and on the specific nature of the job. Rules should be explained in detail, job
expectations agreed upon and any questions answered before the new employee begins work. New
employees should be introduced to other employees and made to feel welcome.
Compensation Issues
Compensation takes two forms: (1) direct compensation (wages and salaries) and (2) indirect
compensation (fringe benefits).
Direct Compensation
Wages and salaries are the compensation people receive on a regular basis (monthly, biweekly or
weekly). Workers are paid on the basis of time (by the hour, day, week or month) or on the basis of
output (an incentive plan).
Some of the legal issues regarding wage and salary compensation include
!
!
Wages and hours -- The Fair Labor Standards Act of 1938 introduced the minimum
wage and the 40-hour work week. As of April 1, 1991, the minimum wage is $4.25
an hour. The law also specifies that workers must receive time-and-a-half pay for
time spent on the job in excess of 40 hours. (Not all employees are covered by this
act; managers, professionals and sales personnel may be excluded.)
Eligibility to work -- The Immigration Reform Control Act of 1986 was intended to
reduce the number of illegal immigrants seeking jobs in the United States. Under the
law, employees hired after November 6, 1986, must show proof of their identity and
eligibility to work. There are sanctions against employers who do not comply with
!
!
!
this act.
Child labor -- The minimum age for children in most jobs is 16 years old. Fourteen-
and 15-year-olds are restricted to a few jobs, such as filing and sales. Persons under
14 years of age may work only under certain conditions.
Social Security -- The Social Security Act passed in 1935 provides a minimum
guaranteed income to retired and disabled persons. This system is funded by a tax on
both employees and employers. In 1990 employees were required to pay the system
an amount equal to 7.65 percent of the first $51,300 earned. Employers are required
to match that amount.
Unemployment benefits -- Each state has a program for providing protection for those
who lose their jobs (usually through no fault of their own). While programs vary
from state to state, each program must comply with certain federal guidelines.
Employers pay a tax to the state, which maintains these funds for use by the
unemployed.
Indirect Compensation
Fringe benefits are an important part of the overall compensation package in most small businesses.
Employee benefits now account for about 40 percent of payroll costs. The profitability of the small
firm is one of the primary determinants of what benefits are offered by the firm.
HR Objectives
• To develop and sustain core values.
• To develop business leaders for tomorrow.
• To provide job contentment through empowerment, accountability and
responsibility.
• To build and upgrade competencies through virtual learning, opportunities for
growth and providing challenges in the job.
• To foster a climate of creativity, innovation and enthusiasm.
• To enhance the quality of life of employees and their family.
• To inculcate higher understanding of ‘Service’ to a greater cause.
HR Strategy
• To meet challenging demands of the business environment ,focus of the HR strategy is on change of the employees ‘ mind set’.
• Building quality culture and resources.
• Re-engineering and redeployment for maximizing utilization of HR potential .
• To build and upgrade competencies through virtual learning, opportunities for growth and providing challenges in the job.
• Re-strengthening mutual faith, trust and respect.
• Inculcating a spirit of learning & enjoying challenges.
Once an individual is hired, he or she should receive a comprehensive orientation on the general
policies of the company and on the specific nature of the job. Rules should be explained in detail, job
expectations agreed upon and any questions answered before the new employee begins work. New
employees should be introduced to other employees and made to feel welcome.
Compensation Issues
Compensation takes two forms: (1) direct compensation (wages and salaries) and (2) indirect
compensation (fringe benefits).
Direct Compensation
Wages and salaries are the compensation people receive on a regular basis (monthly, biweekly or
weekly). Workers are paid on the basis of time (by the hour, day, week or month) or on the basis of
output (an incentive plan).
Some of the legal issues regarding wage and salary compensation include
!
!
Wages and hours -- The Fair Labor Standards Act of 1938 introduced the minimum
wage and the 40-hour work week. As of April 1, 1991, the minimum wage is $4.25
an hour. The law also specifies that workers must receive time-and-a-half pay for
time spent on the job in excess of 40 hours. (Not all employees are covered by this
act; managers, professionals and sales personnel may be excluded.)
Eligibility to work -- The Immigration Reform Control Act of 1986 was intended to
reduce the number of illegal immigrants seeking jobs in the United States. Under the
law, employees hired after November 6, 1986, must show proof of their identity and
eligibility to work. There are sanctions against employers who do not comply with
!
!
!
this act.
Child labor -- The minimum age for children in most jobs is 16 years old. Fourteen-
and 15-year-olds are restricted to a few jobs, such as filing and sales. Persons under
14 years of age may work only under certain conditions.
Social Security -- The Social Security Act passed in 1935 provides a minimum
guaranteed income to retired and disabled persons. This system is funded by a tax on
both employees and employers. In 1990 employees were required to pay the system
an amount equal to 7.65 percent of the first $51,300 earned. Employers are required
to match that amount.
Unemployment benefits -- Each state has a program for providing protection for those
who lose their jobs (usually through no fault of their own). While programs vary
from state to state, each program must comply with certain federal guidelines.
Employers pay a tax to the state, which maintains these funds for use by the
unemployed.
Indirect Compensation
Fringe benefits are an important part of the overall compensation package in most small businesses.
Employee benefits now account for about 40 percent of payroll costs. The profitability of the small
firm is one of the primary determinants of what benefits are offered by the firm.
HR Objectives
• To develop and sustain core values.
• To develop business leaders for tomorrow.
• To provide job contentment through empowerment, accountability and
responsibility.
• To build and upgrade competencies through virtual learning, opportunities for
growth and providing challenges in the job.
• To foster a climate of creativity, innovation and enthusiasm.
• To enhance the quality of life of employees and their family.
• To inculcate higher understanding of ‘Service’ to a greater cause.
HR Strategy
• To meet challenging demands of the business environment ,focus of the HR strategy is on change of the employees ‘ mind set’.
• Building quality culture and resources.
• Re-engineering and redeployment for maximizing utilization of HR potential .
• To build and upgrade competencies through virtual learning, opportunities for growth and providing challenges in the job.
• Re-strengthening mutual faith, trust and respect.
• Inculcating a spirit of learning & enjoying challenges.
Last edited: