Note on Compensation Strategy

Once we understand requirements for the position, then next step is to define ways of meeting those needs. It includes the amount of resources and authority the position provides to fulfill the business need. A job description can be as simple as a list of tasks required by the individual holding the position. Formal job descriptions will include level of responsibility, expected outcome, including reporting line and other interactions. Once expectations, and means of attaining expectations are documented, then sketching ideal candidate will become easier.

3. Total Rewards Strategy – This structure is very complex, yet comes with a lot of flexibility to allow for growth and internal satisfaction. The pitfalls with this structure come with the implementation, which could be treacherous and difficult to convey to our employees.

For the most part, a company’s compensation policy aims to ensure that employees are compensated in a fair and competitive manner. However, the compensation objectives employed by different companies can vary widely. This is especially true when taking into account wages vs. skills, competitor salaries, pay-for-performance, and other elements of compensation, like overtime, incentives, etc. (Snell, Morris, & Bohlander, 2015).

First, I should have explain better during the performance appraisals and interviews the the merit increase was base on the percent of the employee base pay. However, sent that did not happen I would explain that the company merit increase was base on a percentage of the employee pay. An example is employee 1 made $40,000 a year and employee 2 made $50,000 a year they both get the same overall performance rating of 4.15. The company decides that for overall performance rating of 4.15, employees with that rating will get a five percent merit increase to their base salary. As a result, employee 1 merit increase would be $2,000 and employee 2 would be $2,500. Both employees receive the same five percent merit increase however, the merit increase was a percent that applied to the base salary causing the money increase to be different.

You are the HR manager for an upscale retail store which sells clothing, shoes, handbags, and other accessories. Due to the economic downturn, the company has experienced a significant reduction in earnings, resulting in the layoff of a number of retail sales associates. Business seems to be rebounding, but you are concerned about the performance of the retail sales staff. The CEO has requested that you recommend ways to increase sales and customer service. You believe that implementing a performance management system may help modify employee behavior and improve results.

This job description meets our needs but could do with some minor changes. If I had the responsibility of updating it I would:

To start with, we must first understand what a managerial strategy means and how we can apply the appropriately.

How positions are filled: Although there is no perfect formula for hiring, the best advice is to start well in advance of a hiring need. The HR professional needs to assess the role/need in terms of knowledge, skills, abilities (KSAs) before writing a job description and posting a vacancy. They are also critically involved in writing interview questions and establishing valid and reliable rating criteria for selection. When interviewing and selecting candidates, the HR practitioner must also ensure that all involved employees are knowledgeable of legal and ethical standards.

SALARY: Employees are eligible for merit increases from 1 to 4 salary steps after the first 6 months of employment, and thereafter annually based on their work performance and until they reach the top of their 12 step salary range.

All selections must be made in line with this plan in order to ensure that the best candidate is chosen. All job vacancies are to be advertised internally and externally. Management must provide consent to this plan and approve finances required in the recruitment process. A successful candidate must provide three referees and request for documentary evidence of qualifications and job offers will be made once all the conditions provided in the plan are satisfied.

She take care of many agencies employees within the state of Tennessee compensation as afar as paychecks, equity increases and job title changes.

The new job description is better than the old job description because it is more detailed. The skills needed are listed,

W.C. Benton, J. (2010). Purchasing and Supply Chain Management (2nd ed.). New York: McGraw-Hill Irwin.

* Frontline PR is a public relations firm with 150 full time employees, consists mainly of their staff plus some administrative and operations people. Frontline is currently struggling with the cost of health care insurance

Write a 1200-1500 word paper that describes a strategic compensation plan for machine operators at Plastec Company. Refer to the description from the week 3 assignment. Include at least 3 referenced articles and cite them as appropriate. This paper should at a minimum address the following: