Performance-based compensation system

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You have recently been appointed as a compensation manager in your company. In line with the HR department's vision to move from a job-based to a more performance-based compensation structure, the HR Director asks you to develop a comprehensive plan where you will have to specify the followings:

1. To identify the benefits and the risks of a performance-based compensation system for the organization. Your HR Director asked you to read three scientific papers about this specific issue and come up with a good synthesis.

2. To explain the components of your new compensation system.

3. To draft an action plan for the implementation of your new system (for each stage you will identify the action, when and how it will implemented as well as the resources that you might need)

4. Prepare a short note (10 lines) to be submitted to the Board of Management where you explain how moving from a job-based to a performance-based compensation system will help your organization attract and retain key talent.

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Reference no: EM13705670

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