Determinant of a person satisfaction

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Reference no: EM133030438

Question 1

Based on the module compensation management what do you think is the role of money as a determinant of a person's satisfaction at work and with life in general? Should organizations worry about this issue? Discuss

Question 2

L.W. Skinner & Associates is a company well known for its SKIN-PRO fabric for fire retardant protective outerwear. One of SKIN-PRO's hallmarks is innovation. Rather than job titles, bosses, and organization charts, SKIN-PRO uses a team approach, with leaders, sponsors, and team members.

The goals of SKIN-PRO's compensation plan are internal fairness and external competitiveness. The company uses two approaches to achieve these goals. The first is straightforward and typically used by companies: comparing pay at their company with pay for comparable jobs at other companies. That takes care of the external competitiveness part. The company does not use Job descriptions. For the internal competitiveness the process works like this: Associates (co-workers) on the same team rank each other based on contributions to the company for the year. Team members can provide comments to support their rankings and identify strengths or areas for improvement of the associates they rank. This information is then used for determining raises.

Assess SKIN-PROs methodologies for achieving its goals of internal fairness and external competitiveness.

Reference no: EM133030438

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