How total compensation strategy affects financial operations

Assignment Help Finance Basics

Reference no: EM133202722 , Length: Word count: 800 words

Assignment Task: You were hired to work as a HR consultant for a small local hospital, with the task of expanding the workforce of certified medical assistants. Looking at the current three employees, you find a discrepancy in compensation between Susi, a 2-year employee at $28,000; Tom, 5-year employee at $27,000; and Raul, a 10-year employee at $33,000. All are employed as certified medical assistants, yet they all earn different salaries. (All three have similar performance reviews - Exemplary). According to survey data, all three employees are below the market rate for this job in the local job market. All three employees are also exemplary employees with near perfect scores in their most recent performance evaluation.

Write an 800 to 1,100-word APA Research format paper that includes the following:

Question 1: Explain the discrepancy in pay among the current employees.

Question 2: Describe the strategy you would take to correct the internal equity issue.

Question 3: Describe the strategy you would take to correct the external equity issue.

Question 4: Explain how you will ensure new hires will be paid equitably, both internally and externally.

Question 5: Explain how an organization's Total Compensation strategy affects its financial operations and its ability to attract, motivate, and retain top talent.

Reference no: EM133202722

Questions Cloud

What kind of coffee brewing system do you use right now : What kind of coffee brewing system do you use right now? How often do you get coffee delivered to your location?

Describe what the empirical rule is : When you have set of data, how you determine if the distribution is skewed? Describe what the "Empirical Rule" is. Why do you think that this is so important

Evaluate leading edge project management theory and practice : MN7008 International Project Management Practice - London Metropolitan University - Demonstrate a critical understanding of risk within a project management

Research governmental policies of colonies : Research the governmental policies of the colonies that helped shape our Constitutional Republic today.

How total compensation strategy affects financial operations : Explain how an organization's Total Compensation strategy affects its financial operations and its ability to attract, motivate, and retain top talent.

Prologue in heaven essay : SUNY at Buffalo-Summarize the action and dialogue between Faust and Mephistopheles in Faust 6 ("Faust's Study I").

What is price discrimination : Question 1: Explain why the prices of agricultural products tend to fluctuate more than the prices of manufactured goods.

Structure of federal bureaucracy : PS 1010-Columbia Southern University-What is the structure of the federal bureaucracy? What is the structure and role of the judiciary system?

Advantage of the lower current interest rates : John Smith is planning to refinance his home mortgage to take advantage of the lower current interest rates. As part of the refinancing application, the bank ne

User Account

All Pages