Compensation and Benefit Systems Research Paper

Compensation and Benefit Systems - Research Paper Example Moreover, harsh working conditions that are undergone by Chinese employees who put together Apple products at Foxconn worsen the already deprived compensation system. A survey by FLA (Fair Labour Association) in early 2012 discovered that 64.3% of Apple employees at Foxconn were not content with their compensation because they did not cover their basic needs. Moreover, the same proportion of Apple workers experience difficult work conditions for about 56 hours weekly (Denning 2012). The same FLA investigation discovered that the average monthly salary for unsupervised Apple employees at Foxconn was around $385, which is equal to $4,622 per annum. This compensation system includes salaries from the high rate of overtime hours these employees engage in. It is worth noting that the calculation of this analysis of the yearly salaries of Apple employees at Foxconn presumes that wages over the previous financial quarter represent those received all through the year. As a result, the strate gy might exaggerate incomes for 2013 because they might have increased since and play down incomes for the financial year 2014 because incomes might increase (McRitchie 2015). The compensation system for Apple’s executive or leadership team demonstrates the significant income discrepancy between the Apple C-suite and staffers compensation systems. The table below offers a detailed illustration of the sum of $441 million required in compensation by the team of nine executives comprising Apple’s leadership team in 2011.