Compensation Plan Outline Assignment Example | Topics and Well Written Essays - 1500 words

Compensation Plan Outline - Assignment Example Equity awards are more preferred in the bank and are given after several years of deferring compensation. In determining appropriate levels of compensation, the bank management considers several factors including the performance of an individual, the business unit in which they work, and the bank as a whole in a given period; and short term and long term financial and non financial related factors. Before any compensation can be given, the company contracts evaluators who present reports to the management. These evaluation report â€Å"Compensation Plan Outline† helps the company to assess the performance at individual levels especially on issues of compliance to banking standards and in making decisions which do not put the company into avoidable risks. Those employees and shareholder who make critical decisions that save the company from taking unnecessary risks and ensure that the bank does not face penalties due to non compliance to laws, are highly compensated. This there fore encourages bank associates and shareholders to be well informed on appropriate legal banking procedures at bank level and nationally. The bank has put in place various measures to ensure that all compensation is fair and just based on its banking principles. The bank’s management has a separate unit of compensation and benefits committee, and there are also various control points at business level like risk, audit, and compliance checks to ensure any decision made on behalf of the bank is well noted and reported in the context of its compliance. to risk and performance standards accepted nationally and locally at the bank. The presence of these various units in the bank management ensures that there is independence in the functions of each section or committee. This is especially important in determining which compensation consultant is engaged to carry out auditing and evaluation exercises on bank functions and performance. The corporate nature of the bank as it is in major corporations nationally and globally makes evaluation of compensation more diverse in order to incorporate interests of all stakeholders including legislators. In as much as compensation in the bank of America should be in line with what the financial industry has agreed upon, the bank has its own internal measures with which any compensation amount must be adjusted in order to reflect the value the company attaches to performance standards. The bank conducts audit and evaluations at most yearly so as to give stakeholders an opportunity to give ideas on how they expect the bank to compensate its associates, workers and shareholders. These audit and evaluations are based on general set standards at national level by authorities who regulate the financial industry. The bank’s pay for performance philosophy is indeed appropriate and it is in good spirit so that workers who deserve compensation are motivated as their efforts are r ecognized. This makes the bank employees to be disciplined and work under their own supervision taking measures which are appropriate and can earn rewards for themselves and profits for

Civilian Contractors on the Battlefield Essay Example | Topics and Well Written Essays - 750 words

Civilian Contractors on the Battlefield - Essay Example The following discussion is going to explore the ethical problems, whilst defining the actual position of a civilian contractor on the battlefield. Also it will consider the security problems in depending on civilian personnel, because there interest is in the monetary value of their service rather than the loyalty and security of a nation4. Therefore this may jeopardize the security of battle planning, because if civilian contractors are working on a business level then if the opposition offered a better business deal then these civilian contractors become a breach in the US military strategy5. In the first place the role of the civilian contractor can be seen as military personal as the Hague Convention of 1907 allows that other persons can be combatant in a time of war than just military personnel. Therefore under the Geneva Convention these individuals will be afforded the protections as prisoners of war. This means that on the ethical grounds of using contractors on the battlefield, governments such as the USA can legitimately affirm their use. In essence under the Hague Convention and the Geneva Convention these individuals are in fact quasi-military, i.e. ... ercenaries.7 British Human Rights lawyer Helen Kennedy has illustrated that there is vast problems with the USA naming freedom fighters, armed guerrillas who are not part of a state army as terrorists in order to punish them through vengeance ethically and a breach of humanitarian law. We [the UK] should not be tempted to take the American route There should never be a direct role for victims in punishment. If victims have a direct say in sentencing decisions, how will consistency be achieved between the victim bent on vengeance and the person willing to forgive8 The actions of the US authorities in Guantanamo Bay are an example of a nation of victims having a say in the punishment of possibly innocent people and these victims have no objectivity and mass cruelty and torture is happening. This is happening of civilians that have taken up arms to protect themselves and named terrorists. How does the US government legitimize civilian contractors who are getting paid for there services on one hand, but not freedom fighters on the other The distinction does not make legal or ethical sense, because morally a freedom fighter has a better argument for their actions and to become a war prisoner protected under the Geneva Convention than does the civilian contractor.9 Finally, the security issues that the uses of civilian contractors raise are vast. In the first instance is a contractor is being highly paid there are business reasons for their use on the battlefield.10 Therefore is it not conceivably possible that if the contractor is offered a higher price on the opposition, the needs of the business and money outweigh loyalty Secondly, there is the possibility that there will be infiltration by the opposition through the use of civilian contractors; especially in the case