The aim of this diploma work is the evaluation and proposal of the remuneration system at one department in the company ISOTHERM s.r.o.. Another point at issue is the change of the employee benefit program, which will be replaced by a new system, aimed more at employee's needs and wishes.

This diploma thesis analyzes the system of remuneration in a chosen company. It focused on the incentives for desired performance, the merit pay and employee benefits. The theoretical part is mainly focused on the forms of reward and motivation. The practical part, based on the theoretical knowledge, analyzes the current state of pay in a chosen company. Finally, it analyzed the pay system compared with the theoretical findings and results of the survey. Following such recommendations are proposed, which should help to improve the current system of remuneration.

The objective of the thesis is the comparative analysis of a system of corporate officers remuneration. The present state of the corporate officers remuneration in the Czech Republic and abroad will be analyzed. For the analysis data from selected companies will be used.

In view of the rapid decrease in the number of students opting to train as teachers and the increasing numbers of teachers leaving the profession; the teaching profession in South Africa is indeed what Duke (1984) termed “imperilled”. While quantitative research identifies remuneration to be the foremost factor attributed to the dissatisfaction of teachers in South Africa as elsewhere; the main purpose of this study was to explore teachers’ perceptions of remuneration. Nine qualified women teachers aged between 25 and 35 years of age, who had been teaching for at least two years and less than ten, volunteered to take part in this study. The sample was drawn from government schools in a suburban part of Johannesburg. This research was based on the information gathered from a short biographical questionnaire followed by in-depth, semi-structured interviews. A process of language sensitive thematic content analysis was employed in order to analyse the data from the interviews. The research indicates that in the decision to enter the teaching profession, notions of the perception that teaching is a vocation predominate. An emphasis on the related intrinsic rewards to be gained from teaching was found to receive greater focus than monetary concerns on entering the profession. The participants expressed that women are more likely to enter the teaching profession while even though men may share the passion to teach, they are seriously deterred by the poor levels of remuneration. The participants explained that as the contexts of their lives changed, so too did their perceptions of remuneration, often resulting in an increasing emphasis on the importance of better remuneration to meet their and their families’ financial needs. Related to this, it was found that as South African teachers were exposed to an almost overwhelming number of challenges, the participants began to experience fewer intrinsic rewards which seemed to impact negatively on their perceptions of remuneration. Thus of the nine participants, only two indicated their long-term commitment to the teaching profession whereas the remaining seven all had plans to leave the profession in search of better remuneration.

O objetivo desta tese é investigar a relação entre a remuneração dos executivos e o desempenho financeiro das empresas, no contexto do mercado brasileiro. A premissa é que o sistema de remuneração pode ajudar a direcionar os esforços dos executivos para os objetivos estratégicos do negócio, contribuindo para que a companhia alcance níveis superiores de desempenho financeiro. A amostra não-probabilística é formada por 44 empresas industriais. Elas foram selecionadas dentre as eleitas como As 150 Melhores Empresas para Você Trabalhar no Brasil, em 2007. Os dados da pesquisa são secundários e foram extraídos de dois bancos de dados: a) Programa de Estudos em Gestão de Pessoas (Progep), vinculado à Fundação Instituto de Administração (FIA); b) Fundação Instituto de Pesquisas Contábeis, Atuariais e Financeiras (FIPECAFI). Para operacionalizar a variável independente remuneração, são utilizados, além do salário mensal e do salário variável, três índices criados especialmente para este trabalho: benefícios, carreira e desenvolvimento. Esses índices medem o acesso a benefícios; a mecanismos de estímulo e suporte à carreira; a mecanismos de estímulo à educação e ao desenvolvimento profissional. Trata-se de itens oferecidos pelas empresas a seus diretores, vice-presidentes e presidentes, os quais são denominados, neste trabalho, de executivos. Esses dados de remuneração referem-se ao exercício de 2006. Para operacionalizar a variável desempenho financeiro, são utilizados três indicadores contábeis crescimento das vendas, retorno sobre patrimônio líquido e margem líquida sobre as vendas dos exercícios sociais de 2006 e de 2007. O porte das companhias é utilizado como variável de controle e é medido pelo logaritmo natural do número de funcionários. A hipótese da pesquisa de que existe uma relação positiva e significante entre a remuneração dos executivos e o desempenho financeiro das empresas, no contexto do mercado brasileiro, é verificada por meio de um conjunto de testes estatísticos: de igualdade de médias, análise de correlação e análise de regressão. Os resultados do teste de Mann-Whitney não apresentam evidências de que existe relação entre as variáveis. A análise de correlação de Pearson mostra associações fracas e negativas entre as seguintes variáveis: a) índice de carreira e crescimento das vendas de 2006; b) índice de carreira e retorno sobre patrimônio líquido de 2006; c) índice de desenvolvimento e retorno sobre patrimônio líquido de 2006. Já a análise de correlação de Spearman aponta: a) associação fraca e positiva entre índice de benefícios e margem líquida sobre as vendas de 2006; b) associação fraca e negativa entre índice de desenvolvimento e retorno sobre patrimônio líquido de 2006. Os resultados da análise de regressão linear múltipla não permitem comprovar a existência de relação positiva e significante entre a remuneração dos executivos e o desempenho financeiro das empresas. As contribuições deste trabalho estão em produzir conceitos mais amplos para operacionalizar as variáveis, estudar a relação no contexto do mercado brasileiro e abrir perspectivas para a realização de novos trabalhos acadêmicos. / This thesis is intended to investigate the relation between remuneration of executives and the financial performance of the companies in the context of the Brazilian marketplace. The underlying assumption is that the remuneration system may help to direct the efforts of executives towards the business strategic purposes. Hence, it will contribute for the company to attain higher levels of financial performance. The non-probabilistic sample is comprised of 44 industrial organizations. They have been selected out from the 150 Best Companies to Work For in Brazil in 2007. The research data are secondary and have been taken from two databases: a) Programa de Estudos em Gestão de Pessoas (Progep) linked to Fundação Instituto de Administração (FIA); b) Fundação Instituto de Pesquisas Contábeis, Atuariais e Financeiras (FIPECAFI). In order to operationalize the independent remuneration variable, in addition to using the monthly salary and the variable salary, three indexes that have been especially created for this paper were used: benefits, career and development. These indexes measure the access to benefits, the fostering mechanisms and the support to career, and also the mechanisms fostering the education and the professional development. These are items the companies offer their officers, vice presidents and CEOs, which are referred to in this paper as executives. These remuneration data refer to the fiscal year of 2006. In order to operationalize the financial performance variable, three accounting indicators are used growth of sales, return on equity and net margin for the fiscal years of 2006 and 2007. The companies size is used as a control variable and is measured by the natural logarithm of the number of employees. The research hypothesis that there is a positive and significant relation between the remuneration of executives and the financial performance of companies in the context of the Brazilian marketplace is verified by means of a set of statistical tests of: the Mann-Whitney test, correlation analysis and regression analysis. The results of the Mann-Whitney test do not present any evidences that there actually is a relation between variables. The Pearson correlation analysis shows weak and negative associations between the following variables: a) index of career and growth of sales in 2006; b) index of career and return on equity in 2006; c) index of development and return on equity in 2006. While Spearman correlation analysis points out: a) weak and positive association between the index of benefits and the net margin in 2006; b) weak and negative association between the development index and return on equity in 2006. The results of the multiple regression analysis do not allow to evidence the existence of a positive and significant relation between the remuneration of executives and the financial performance of companies. The contributions of this thesis are in producing broader concepts in order to operationalize the variables, study the relation in the context of the Brazilian marketplace and open up perspectives for the development of new academic studies.

To explain and challenge the growing level of income inequality in organisations, this thesis collected and analysed corpora of texts about pay in UK universities from the press, remuneration committees and trade unions. Deploying the methodology of critical discourse analysis, it describes the contents of arguments as discourse types, interprets the reasoning behind arguments as genres of organisation theories and explains the common-sense assumptions ordering arguments as ideological values. Seeking answers, the analysis groups 30,038 data fragments into 74 first-order discourse types, 7 aggregate genres of organisation theories and 9 ideological values across three corpora of texts. Finding from the press suggested that actors drew upon the same set of organisation theories regardless of whether they were discursively challenging or defending the legitimacy of income inequality. This made it unfeasible to halt the level of income inequality because the underlying ideological values of competition, quantification and economic rationality only required the organisations to conform to unclear methodological processes. Thus, it is only possible to challenge the legitimacy of income inequality by proposing new members' resources, which objectified the exact contingencies for when it was appropriate. This insight lead to the creation of a new genre of organisation theory, which proposed paying employees relative to their comparative sacrifices. Findings from remuneration committees suggested that their members drew upon organisation theories to legitimise income inequality, which related to the ideological values of economic science, individualism and capitalistic hierarchy. However, how these ideological values constructed the legitimacy of their decisions lacked a substantiate rationality because the neoliberal model of capitalism was a source of legitimacy within itself. As such, the foundations of legitimacy were critiqued and a 2x2 matrix consisting of a process-outcome axis and pragmatic-moral axis was introduced. Applying this matrix to this corpus of text meant that none of these genres of organisation theories reasoned based on outcomes. Therefore, a new genre of organisation was proposed which focused on the income distribution shape for organisations. Findings from trade unions suggested that their representatives drew upon the same set of organisation theories to reinforce their own legitimacy in addition to interrogating the legitimacy of universities. These organisational theories were then related to the ideological values of performativity, exchange relations and freedom that hegemonically legitimised income inequality. Meanwhile, it was interpreted that trade unions relied on the neoliberal model of capitalism for their existence and were encouraging employees to participate in markets that only served the interests of employers. Therefore, a new members' resource was proposed, which conceptualised why sacrifice was a moral and pragmatic process for distributing pay to employees in comparison with other macro-economic frameworks. The findings from these three corpora of texts explained and challenged the social practices that were creating income inequality growth. Essentially, the ideological values of neoliberalism ordered discourse so that there was no reason to reduce the level of income inequality according to the dominate members' resources. Therefore, to change these social practices three new discourses were proposed which challenged the level of income inequality by illustrating the false consciousness embodied within their reasoning.

This study examines the role of three institutional factors (regulative; normative and cultural-cognitive pillars of institutions) in addressing agency problems of Australia. In the wake of the series of corporate collapses of current decade, director and executive remuneration was identified as one of the major causes behind these scandals. The Australian government and other related organisations made both regulative and non-regulative institutional reforms to manage this agency conflict. These reforms, encapsulated in Corporate Law Economic Reform Program (CLERP) Act 2004 demanded an increased level of disclosure of director and executive remuneration particularly, the disclosure of performance based salary. Subsequently, these amendments provided an opportunity through a non-binding vote to shareholders to participate in executive remuneration decisions. This study proposes a new synthesis of institutional and agency theories by examining how institutional interventions addresses agency conflicts in the Australian context. A conceptual model is developed to measure both the conjoined and distinctive institutional impact on the disclosure level of director and executive remuneration in Australia. To measure and quantify the aforementioned impact a mixed method research strategy was used. First, content analysis as an investigative tool was used to develop a disclosure index which determined the level of disclosure of director and executive remuneration from top 100 Australian listed entities. Second, a conceptual model, positing the relationships between independent and dependent variables was verified through an econometric analysis of collected data, performed through the Statistical Package for the Social Sciences version 15. The findings of this research reveal that there exists a significant difference between the levels of disclosure in the pre and post stages of the introduction of the CLERP Act 2004. This result highlights the significance of regulatory intervention in addressing agency conflicts. The study also indicates that regulative and normative pillars have a higher impact than the culture-cognitive pillar on disclosure practices of Australian firms. In light of these results, the new blend between agency and institutional theories highlight the role of different institutions, particularly the government, in stabilising the organisational practices for good governance and creating national competitive advantages.

Background: In health care services, equity is the delivery of similar care for similar needs (horizontal equity), and the delivery of more care for higher needs (vertical equity). This study assessed the extent to which primary care provision is equitable across gender, age and socioeconomic groups, and whether any observed disparity is associated with the type of primary care remuneration model to which a family practice belongs. Remuneration models include Fee For Service in which the physician is paid for each encounter, Salary where payment is fixed for the number of hours worked, and Capitation where payment is tied to the number of patients under the care of the provider, and very little or no additional compensation is provided for each patient encounter. // Methods: This thesis used data from a cross sectional study of 5,361 patients receiving care from practices (n) in which primary care providers were remunerated by Fee For Service (35), Salary (35), or Capitation (68). Multi-level linear or logistic regressions were used to assess the impact of gender, age and socioeconomic strata on quality of care. The quality of health service delivery and health promotion were assessed through surveys based on the Primary Care Assessment Tool (n=5,111). The quality of preventive care (n=4,108) and chronic disease management (n-514) were evaluated through chart abstraction using the Canadian recommendations for care as the standard. The analyses were conducted stratified by remuneration model to allow the impact of the model on the extent of disparity in quality of care between social strata to be assessed. // Results: Men and women reported similar quality of health service delivery. Women were significantly more likely to be up to date on their preventive care, but adherence to recommended guidelines for chronic disease management was better for men in the Fee For Service practices. Older individuals reported better health service delivery than younger ones. The quality of chronic disease management was also age dependent with better care delivered to individuals ages 60-69. Individuals of low income and education had better accessibility than those not disadvantaged in the Salaried model and Fee For Service, but not Capitation model. Despite their higher health risks, these individuals were not more likely to receive healthy lifestyle counseling. // Conclusions: Significant inequalities in the care of patients were found across social strata. In some cases, these inequalities are deemed appropriate; a justifiable response to differing health care needs. In other cases, they are deemed inappropriate and representing inequities in the delivery of care. Some of the observed disparities were present in one remuneration model but not others, suggesting that the payment approach may be contributing to these differences. The results raise the concern that the capitation remuneration structure may compromise accessibility.

Background: In health care services, equity is the delivery of similar care for similar needs (horizontal equity), and the delivery of more care for higher needs (vertical equity). This study assessed the extent to which primary care provision is equitable across gender, age and socioeconomic groups, and whether any observed disparity is associated with the type of primary care remuneration model to which a family practice belongs. Remuneration models include Fee For Service in which the physician is paid for each encounter, Salary where payment is fixed for the number of hours worked, and Capitation where payment is tied to the number of patients under the care of the provider, and very little or no additional compensation is provided for each patient encounter. // Methods: This thesis used data from a cross sectional study of 5,361 patients receiving care from practices (n) in which primary care providers were remunerated by Fee For Service (35), Salary (35), or Capitation (68). Multi-level linear or logistic regressions were used to assess the impact of gender, age and socioeconomic strata on quality of care. The quality of health service delivery and health promotion were assessed through surveys based on the Primary Care Assessment Tool (n=5,111). The quality of preventive care (n=4,108) and chronic disease management (n-514) were evaluated through chart abstraction using the Canadian recommendations for care as the standard. The analyses were conducted stratified by remuneration model to allow the impact of the model on the extent of disparity in quality of care between social strata to be assessed. // Results: Men and women reported similar quality of health service delivery. Women were significantly more likely to be up to date on their preventive care, but adherence to recommended guidelines for chronic disease management was better for men in the Fee For Service practices. Older individuals reported better health service delivery than younger ones. The quality of chronic disease management was also age dependent with better care delivered to individuals ages 60-69. Individuals of low income and education had better accessibility than those not disadvantaged in the Salaried model and Fee For Service, but not Capitation model. Despite their higher health risks, these individuals were not more likely to receive healthy lifestyle counseling. // Conclusions: Significant inequalities in the care of patients were found across social strata. In some cases, these inequalities are deemed appropriate; a justifiable response to differing health care needs. In other cases, they are deemed inappropriate and representing inequities in the delivery of care. Some of the observed disparities were present in one remuneration model but not others, suggesting that the payment approach may be contributing to these differences. The results raise the concern that the capitation remuneration structure may compromise accessibility.

Several recent corporate governance scandals relate to non-disclosure or high amounts of pension benefits given to executive directors. The lack of disclosure and transparency has gained pensions benefits greater attention as a significant part of the total remuneration received by executive directors. Due to the associated problems there is a greater need for better disclosure and in turn heightened transparency towards shareholders.   This qualitative case study focuses on general retailers in Sweden and the United Kingdom. Due to the lack of research five general retailers from respective country were chosen to be examined and compared during 2006-2010. The aim is to examine the disclosure of individual pension benefits of executive directors and the development in levels of pension benefits in the following general retailers Bilia, Clas Ohlson, Debenhams, Dunelm Mill, Fenix Outdoor, Halfords, JD Sports Fashion,  Kappahl, Mekonomen and N Brown Group. The findings show that the majority of general retailers have complied with their respective corporate governance code during 2006-2010. The level of disclosure has differentiated, where UK general retailers have a higher level of individual disclosure. The development in levels of pension benefits has shown that there are higher amounts of pension benefits in Swedish general retailers. A negative trend in the development of the Chief Executive Officers amounts of pension benefits has mainly been present in 2007-2009. Reversal of the negative trend came in the last year of the case study. No distinctive trends were found in the development of pension benefits for all other executive directors.