Reference no: EM131383372
Pay and Benefits
A company's compensation strategy is most effective when it remains in line with the organization's overall business strategy. While human resources departments must strive to attract and retain the best workers for each position, the incentives needed to engage those workers must be balanced with the costs to the company.
Using the Argosy University online library resources and the Internet, research best practices regarding compensation strategies.
For this assignment, you are to research compensation strategies and consider general compensation programs for the following two scenarios:
1. Scenario 1: A midsized company with a proven product. Executives are looking to keep labor costs at a minimum.
2. Scenario 2: A small company that is still trying to prove itself in the industry while striving for product leadership and innovation.
For each scenario, describe the base pay and major incentives that are included in your benefits package and respond to the following:
- Does your program include stock options, profit sharing, an employee stock ownership plan (ESOP), healthcare, etc.?
- Are your specified options provided for employees of all levels or just for certain positions?
- What are the costs to the company for each added incentive?
- How do these incentives shape/determine the type of employee you attract?
- How is employee performance rewarded? Include a strategy for raises and bonuses. How do your strategies differ by job level and function?
- Why do your packages differ between the two scenarios? What changes do you recommend if each firm moves from a large city to a minimally populated rural area?
For base pay, be sure to provide percentile ranges in lieu of hard numbers. For example a firm may target being competitive with the market at the fortieth percentile, the seventy-fifth percentile, or some chosen range (e.g., between the twenty-fifth and fiftieth percentile).
Write your initial response in 300-500 words. Your response should be thorough and address all components of the discussion question in detail, include citations of all sources, where needed, according to the APA Style, and demonstrate accurate spelling, grammar, and punctuation
Do the following when responding to your peers:
Read your peers' answers.
Provide substantive comments by
- contributing new, relevant information from course readings, Web sites, or other sources;
- building on the remarks or questions of others; or
- sharing practical examples of key concepts from your professional or personal experiences
Respond to feedback on your posting and provide feedback to other students on their ideas.
Make sure your writing
- is clear, concise, and organized;
- demonstrates ethical scholarship in accurate representation and attribution of sources; and
- displays accurate spelling, grammar, and punctuation.
Where the concept of force does not exist
: This result has a counterpart in the theory of general relativity, where the concept of force does not exist and particles move along the geodesics of a curved space-time.
|
Is presence at a crime scene alone probable cause
: Based on the interview with the couple in the story above, do you believe probable existed for their arrest?Can a person be arrested just for being a member of a criminal gang? Is membership in a criminal gang alone probable cause for an arrest?Is ..
|
Do customers always know what they value in a product
: Do customers always know what they value in a product? How does an organization sell its products or services to customers who are not aware of their buying preference?
|
Emergent encounter or on an ongoing basis
: If a Medicare beneficiary lives in or travels to a foreign country, does or should Medicare cover medical services rendered in that country - for either an emergent encounter or on an ongoing basis?
|
What are the costs to the company for each added incentive
: Are your specified options provided for employees of all levels or just for certain positions? What are the costs to the company for each added incentive? How do these incentives shape/determine the type of employee you attract
|
Design the circuit such that an alarm is sounded
: Design the circuit such that an alarm is sounded when certain combinations of conditions occur between the variables.
|
What type of information sharing
: What type of information sharing should be communicated or even techniques used that should happen regularly between Supply, Logistics, Engineering and other groups like marketing, operations, material control, quality, and even along with supply ..
|
Do you have a favorite broadway show
: Do you have a favorite Broadway show, either new or old? (Maybe it has been made into a film) why do you like it?
|
What are service automation solutions
: What are Service Automation solutions? Critically appraise any evidence that suggest that SA solutions have beneficial impacts on service outcomes.
|