What is compensation? How is compensation used? What is the purpose and importance of compens
Q: What could be the best cash compensation plan that would be fair to both management and employees,…
A: Monetary compensation is cash paid to a worker in return for the representative's work. Regular…
Q: true or false 1. To be fair, the pay differential between succeeding positions should be the same…
A: "Since you have posted a question with multiple parts, we will solve the first three sub-parts for…
Q: Suppose you work in the HR department of a manufacturing company that is planning to enrich jobs by…
A: HR section has made a strategy to the improve the jobs of the manufacture employees by having them…
Q: What are the two types of bonus pools for bonus incentive plans? How do they differ, and how…
A: A company decides to give an unexpected or unplanned bonus: Is a great recognition tool and does…
Q: What does the CPM time-cost compensation approach offer?
A: The management of projects is the technology for leading a team's work to achieve goals and…
Q: State your Agreement/Disagreement and discuss the reason for The various elements of HR Planning are…
A: The entrepreneur will carry on the business activities to increase the profitability of the…
Q: How would you define an effective reward system? What role do benefits serve in a reward system?
A: An inspired workforce can be a critical factor in authoritative achievement. At the point when…
Q: Choose two (2) objectives of compensation management and recommend strategies on how to achieve them
A: [Hi! Thanks for the question. As per our Bartleby guideline, we are supposed to answer only ONE…
Q: State your Agreement/Disagreement and discuss the reasons for The Supply and Demand elements of HR…
A: Human resource planning (HRP) is a continuous, methodical method of planning ahead to guarantee that…
Q: Please describe some Pros and cons of executive bonuses. It was recently reported in the news that…
A: Companies may use an executive bonus plan to offer extra supplementary incentives to key employees…
Q: What are the factors affecting employee compensation? How to develop a strategic compensation…
A: Compensation is a critical topic in Human Resource Management (HRM) since it influences the…
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A: The term job analysis refers to a scenario whereby a systematic approach is followed in order to…
Q: What are expectancies and valences? How do they affect performance?
A: Motivation Motivation is the process through which goal and target-oriented patterns of behaviour…
Q: What is The difference between strategic planning and tactical planning in compensation management?…
A: Planning in Compensation Management : Planning in compensation management refer to process in which…
Q: What are the main factors that motivate organisation's such as Eskom to have a talent management…
A: In an organization, the gathered group of people work for a definite task to accomplish it within a…
Q: 3. give an example of how job evaluation occurs in the compensation system. 4. give a sample…
A: Compensation is consists of pay or rewards which go to the employees for productivity in the…
Q: What combination of quantitative factors and qualitative factors would you like your potential…
A: Qualitative evaluations are based on the manager's observations. This involves communication skills,…
Q: What are the disadvantages in terms of costs that a company could expect when changing the merit pay…
A: Merit pay is a type of remuneration in which a corporation regularly pays more money to…
Q: differences of salary and insurance from the perspective of compensation. Plz do fast asap
A: In return for the work they do, companies will pay their workers a salary or some other kind of…
Q: What are the key advantages and disadvantages of time-based pay plans?
A: A time-based pay plan is a plan in which an employee gets paid on an hourly basis mostly. This is…
Q: What is MBO? What advantages does it have over traditional performance evaluation methods? What are…
A: Management is an action that is carried out with a certain goal in mind. It is something that…
Q: Compensation systems. Go to the websites listed belowand review the material on compensation…
A: Compensation: Compensation means the total rewards given to the employees for services they are…
Q: The purpose of performance rating is important ? what is the success of a performance management…
A: In an organization, there are employees. All the employees are responsible for their roles and…
Q: individualized rewards
A: Incentives are variable incentives offered to workers due to the differences in their results. An…
Q: Critically evaluate the importance of Compensation to the achievement of selectedorganisational…
A: Compensation plays an important role in adjusting representative conduct to a business destination.…
Q: Explain the pros and cons of 3 performance appraisal methods. Evaluate the
A: Performance appraisal:- The phrase "performance appraisal" describes the routine evaluation of a…
Q: What benefits are mandated by law ? What are the most common benefits not mandated by law? What are…
A: There are several benefits which are required by law to be provided by the employers to their…
Q: How can a compensation professional integrate, internal job structures with external market pay…
A: Competitive Pay Systems of the company refers to the policy of the company about thecompensation of…
Q: In terms of compensation, how do employees view fairness? Cite 3 ways and give concrete, specific…
A: Compensation is one of the key organizational strategies which can have profound impact on…
Q: Describe how organizations can build an equitable compensation system, using both internal…
A: Organizations can build an equitable compensation system using Internal consistency (job…
Q: Do you believe that an employee’s behavior is always influenced by the rewards expected? Discuss…
A: In every organization, there are a number of departments according to the activities that are being…
Q: how the role of the HR professional has changed/expanded during the pandemic
A: The pandemic flung firms & employees into uncertainty & chaos, with no certain ending in…
Q: t is the meaning of 'intrinsic' compensation and 'extrinsic' compensation. Explain how both types of…
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Q: HR department right in deciding to recruit people from within the organization? Will they not miss…
A: Internal recruitment is the process of a company's current employees filling vacancies. This differs…
Q: What are the differences between straight piecework compensation plans and guaranteed piecework…
A: Straight piecework compensation plans are those type of compensation under which a fixed rate is…
Q: What are the pluses and minuses of variable-pay programs from an employee's viewpoint? From…
A: Human Resource Management The fundamental method to manage the convincing and capable organization…
Q: 1. Choose two (2) objectives of compensation management and recommend strategies on how to achieve…
A: Hi! Thank you for the question As per the honor code, We’ll answer the first question since the…
Q: 1. Decsribe nonfinancial performances and explain how they are similar to and different from…
A: Note: As per the guidelines, only the first question needs to be answered in case of multiple…
Q: Answer the following questions: 1. What are the benefits of a salary survey can offer? Discuss. 2.…
A: A salary survey is a tool used by management to define a fair and competitive salary for the…
Q: 1. Why organizations conduct performance appraisals? 2. Discuss the different methods for appraising…
A: Disclaimer "Since you have asked multiple questions, we will solve the first question for you. If…
- What is compensation? How is compensation used? What is the purpose and importance of compensation?
- What are the different types of compensation? Explain each type.
- What are the factors affecting employee compensation? How to develop a strategic compensation strategy?
- What is incentives and benefits administration? Discuss the advantage of incentive programs.
- What are the categories of employees benefits? What are the legal considerations in offering administering benefits?
- What are the organizational challenges associated with a benefit package?
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- How does real-time performance management compare to the traditional annual performance process? How can a real-time process help an employee be more effective? What are some potential drawbacks?Pay-for-performance compensation models improve employee engagement and retention by clearly tying employee or company achievement of performance goals to tangible financial rewards. 1. What are the advantages and disadvantages if pay-for-performance compensation model will be adopted by the government? 2. Which government agency will benefit from this compensation model?What are the two types of bonus pools for bonus incentive plans? How do they differ, and how doeseach achieve (or not achieve) the three objectives of management compensation?
- 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.What are the factors affecting employee compensation? How to develop a strategic compensation strategy?A 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…
- 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.)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…true or false 1. To be fair, the pay differential between succeeding positions should be the same as you go up the pay structure. 2. Cost-of-living allowances are based on performance 3. Cash compensation is transactional while relational is psychological. 4. As long as a compensation plan is ethical, legally compliant and fair, it does not need to be efficient. 5. An incentive pay received in Year 2020 of P25,000 is expected to be received in Year 2021 also. 6. When you create more levels for a position, it will provide an employee a psychological feeling of promotion and mobility within an organization.
- 1. Examine how changing compensation environment is significant to the company for long run survival. Briefly explain your ideas 2. Select any two companies and try to compare the different types of compensation offered by the both the organizations 3. Identify and analyze the factors that influence companies’ compensation practices 4. As a compensation Manager Explain what types of incentives will motivate the employees to enhance the employee’s productivity 5. Discuss contemporary trends in compensation and benefits management.Internal equity is an important factor for compensation system success. Explain what is meant by internal equity? Why it is important? How it can be achieved? Should the job evaluation depend on an appraisal of the jobholder's performance? Why? Or Why not? Prepare a scale for evaluating jobs of your organization?What are some innovative approaches to performance management that move beyond traditional annual reviews, focusing on continuous feedback, skill development, and goal alignment to enhance employee growth and motivation?
