There is a common concern today that executive compensation in the L Multiple Choice O O O O Not adequately linked to strategic performance measures. Ineffective as a performance incentive. Not properly disclosed to the IRS. Too diverse among industries. Too low for the value added.
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- x. critically analyze and discuss the myriad factors that frequently shape an organization's compensation decisions, considering both internal and external influences."Traditionally organizations have taken a one size fits all approach toward providing benefits. However, considering the diversity of today’s workforce, more organizations are modifying their compensation packages to include a variety of packages. Some of the rewards organizations can provide include: increased base pay, bonuses, shortened workweeks, extended vacations, paid sabbaticals, flexible work hours, part-time employment, guaranteed job security, increased pension contributions, college tuition reimbursement, personal days off, help in purchasing a home, recognition awards, paid club memberships, and work-from-home options. What are the positive aspects of having individualized rewards? (Think in terms of employees and managers.) What are the negative aspects of having individualized rewards? (Again think in terms of employees and managers.)Compensation systems. Go to the websites listed belowand review the material on compensation systems. Prepare areport outlining the major issues associated with designing asales compensation system.www.inc.com/guides/sales-compensation-plan.htmlwww.davekahle.com/compfeature.htmlhttp://tecmidwest.com/2014/04/effective-sales-compensation-plan/
- Which performance method would you say you like the most and the one that you like the least? Please share why you chose these two. For the most effective, how it is effective in doing the following: providing fair and reliable ways of differentiating employees; targeting and rewarding those who most deserve it; setting forth a fair and cost-effective plan for compensation; and motivating and ensuring the performance of employees. For the least effective, how it interferes with the above four items.Answer the following questions: 1. What are the benefits of a salary survey can offer? Discuss. 2. How executive compensation is different from others? Explain. 3. Design / write a small case study of any topic as given in the delivery plan with 2 questions and answers.Review the SHRM case: “Designing a Pay Structure” You will prepare the SHRM case analysis on “Designing a Pay Structure,” which consists of your completion of Tasks A–J that simulate the creation of a compensation system for an organization in meeting its goals and supporting its mission. In your analysis, respond to the following tasks found in the case study by using Excel. Your case analysis should consist of: Task A: Create a complete job description for the benefits manager position using O*NET. Task B: Calculate the job evaluation points for the administrative assistant, payroll assistant, operational analyst, and benefits manager jobs. Provide a rationale for assigning specific degrees to the various jobs. Task C: If there were any outliers (i.e., extreme data points) in the data, what would you recommend doing with them? From this point forward, assume no extreme data points exist in the dataset. Task D: Conduct a simple regression in Excel to create a market pay line by…
- What are suggestions to improve the problems of forcing employees to sign salary reduction contracts ? the recommendations must be related on concepts of compensation managementA company’s compensation and rewards strategy is most effective when it remains in line with the organization’s overall business strategy and maximizes talent management. 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. For this assignment, research compensation strategies, and consider general compensation programs for the position you identified in previous module assignments. Describe the base pay range and major incentives that are included in your benefits package and respond to the following: What types of rewards, both tangible and intangible, can be used to recognize and incentivize an employee in this position? 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? How…Merit pay – a system of linking pay increases to rating on performance appraisals True or False
- Which competitive pay policy would you recommend to an employer? Why? Does it depend on circumstances faced by the employer? Which ones?Major school districts, to the best of my knowledge, employ an open book policy when it comes to wages. Every employee gets paid based on a standardized formula that usually includes experience, education level, and how many years the employee worked for the system. The Clark County School District in Nevada found itself in an unpleasant situation a few years ago when it became obvious that the formula no longer helped it attract the necessary teachers due to the noncompetitive pay restrictions. The board voted to make a change that eliminated a pay benefit to having a graduate degree in education while increasing pay to those who teach certain topics such as mathematics and science. This caused a revolt by the school district's teachers. Many who spend thousands of dollars getting their master's degrees lost the salary perks of their extra education. At the same time, the teachers who were not paid an extra bonus felt that there subject matter expertise was considered less valuable…Give real examples in any business company for the following functions:1- Training course claryfying the course name, method of training, and the course evaluation.2- Performance appraising form showing the job, the content of the form, and how to evaluate the employee.3- Companstion System for any job clarifying the benefits and servieces that the employee recieve.