What is The difference between strategic planning and tactical planning in compensation management? ?
Q: Who should be involved in developing Pay-For-Performance Plans and why?
A: The pay for performance plans means the plans which are made by the managers to reimburse its…
Q: What are the parts of a compensation system, and what component(s) does Costco’s compensation system…
A: Ans// The compensation parts include: 401k benefits Insurance Healthcare Education Retirement…
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 are the different types of Compensation?
A: Compensation is described as the total of the non-cash payments and the cash payments that will be…
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: What are some of the Contextual Influence on the Compensation System?
A: Compensation Compensation refers to the amount of money that is considered to be a fair value for…
Q: What are the internal factors to be considered in compensation strategic planning?
A: An orgnaization's compensation strategic planning is concerned with making nd managing compensation…
Q: What are some potential risks or limitations of performance- based pay systems?
A: In the past, there was large-scale standardized production to gain economies of scale. But now the…
Q: What are the processes of human resource planning in large organizations?
A: The human resource planning process refers to the approach of forecasting the firm’s demand for and…
Q: In the traditional psychological contract , the HR function should do in order to address these…
A: A psychological contract can be explained as the unwritten or informal set of expectations that are…
Q: What are four important issues that will shape compensation professionals’ work for years to come.…
A: Compensation is the amount which the company pays to its employees for doing a certain task.…
Q: What is compensation? How is compensation used? What is the purpose and importance of compens
A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…
Q: Is it true that Person-focused pay plans are least preferable compared with individual incentive pay…
A: with the rising competition and increasing uncertain circumstances of business environment,…
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: What is the important of compensation management? Please explain, give an example and 1 theory.
A: Compensation Management : Compensation management is the type of management practice which deals…
Q: The difference between strategic planning and tactical planning in compensation management.
A: Compensation management is a branch of human resource management that manages the compensation plans…
Q: Explain what are the key pros and cons of time based pay plans?
A: A time-based compensation plan is one in which an employee is primarily compensated on an hourly…
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 unemployment compensation? Who does the unemployment compensation apply to
A: Unemployment compensation is paid by the state to jobless workers who have lost their positions as a…
Q: importance of human resource planning?
A: The human resource planning process starts with analyzing the overall plan of the firm into…
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: Performance Management Important?
A: Performance management is defined as the process of continous communication and feedback between a…
Q: The benefit plan that offers employees the opportunity to tailor a benefit package to their needs is…
A: Employee benefits can be defined as benefits and services which is offered by an employer to the…
Q: Are there any positive motivational consequences of tying compensation pay closely to firm…
A: Motivation is the mechanism used to initiate, drive, and sustain goal-oriented behaviors. If you…
Q: Is performance appraisal similar to performance management? Why or why not?
A: Performance administration is about assisting an worker to develop & increase his presentation…
Q: What are the components of an effective training needs analysis? What would the basic parts for a…
A: Needs Analysis is a structured, structured method of describing and assessing the training to be…
Q: To what extent is an organisation’s legal department involved in compensation planning, design,…
A: Let us understand the term used in this question- Organization's legal department- when ever we…
Q: Is strategic human resource planning the same as human resource planning?
A: Human resource management (HRM): It consists of activities, which required human resources (people)…
Q: How are "Person-focused pay plans"different from "Individual incentive pay program"? "Person-focused…
A: PERSON FOCUSED PAY PLAN : MEANING- ITS A PLAN WHICH INCLUDES EMPLOYEES BENIFITS POLICY SUCH AS IT…
Q: What is performance management ? Explain the cycle of performance management .
A: Performance management helps employees to meet organizational goals. This method follows both formal…
Q: To what extent is an organisation’s legal department involved in compensation planning, design,…
A: There is a vast array of things that influences the compensation of employees in an organization.…
Q: What are the points that you have to consider when you are designing a Benefits Plan? Who should be…
A: It is important for an organization to design a benefit plan because it helps an organization for…
Q: What are some ways that pay-for-performance schemes could backfire if acompany doesn’t set them up…
A: Pay for performance is a compensation model in which employees are paid according to their…
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: How and why compensation is seen as a strategic business partner?
A: Compensation is a precise way to approach offering monetary benefit to workers in return for work…
Q: Is human resource planning only relevant to large companies or should small businesses do human…
A: Human resource planning is all about identifying the present and future human resource requirements…
Q: What are some potential risks or limitations of performancebased pay systems?
A: As the name means, performance-based pay is payment linked to workers' contributions to a business.…
Q: How would you go about deciding whether to use a job-based, skills-based, or pay-for-performance…
A: Compensation plan states about the employees' wages, incentives, bonus and perks, which an…
Q: Identify and explain the 3 objectives of management compensation?
A: To achieve a goal, management entails teamwork and task management. Setting the company's agenda and…
Q: What are the 3 main types of delays in term of compensation and time adjustments. Explain each types…
A: The reasons for delays in large-scale development projects are various and varied; they include…
Q: Why companies use executive compensation?
A: Executive compensation is a combination of both financial and non-financial rewards that are granted…
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- What is compensation? How is compensation used? What is the purpose and importance of compensation?x. critically analyze and discuss the myriad factors that frequently shape an organization's compensation decisions, considering both internal and external influences."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?
- In one or two pages, describe the concept of total compensation. Why is this important?What could be the best cash compensation plan that would be fair to both management and employees, granting periodic raise in the salary or by granting them bonuses? Why?What is the difference between Human Resource Planning and Manpower Planning?
- what are the benefits of effective employee compensation strategy in the workplace ?Please, analyze and discuss the myriad factors that frequently shape an organization's compensation decisions, considering both internal and external influences."What are the considerations when determining the appropriate compensation and benefits packages for employees?