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- Which component of compensation is most essential to motivate executives to lead companies toward competitive advantage? Discuss your rationale. Discuss your position on executive compensation. Is executive compensation excessive or appropriate?Which component of compensation is most essential to motivate executives to lead companies toward competitive advantage?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…
- How you would justify a large compensation package for a new CEO?Your company has recently implemented a pay-for-performance model for compensation. This worries you because you know that your employees will be even more upset with their performance ratings if they know that they are tied to compensation. What actions can you take to start to prepare for this change? How do you think your boss at the company where you work now, or where you have worked would handle the situation? If there are differences, whyIn a meeting with members of Strategic Management committee in your company, you ask middle managers about the recent performance in the marketing department and their thoughts about the reasons behind it. They state that their performance goals are set too high, with the vast majority of their employees missing their individual targets across the board. In your education and training to be an organizational behavior consultant, you studied various needs-based motivational theories such as: · Maslow’s hierarchy · McGregor’s Theory X and Theory Y · The Two-Factor theory Your Task Which of the motivational theory do you think is best for describing human behavior in the workplace? Based on that, elaborate how the chosen theory can help in creating a work environment using reward strategies, work-life balance considerations, and other approaches to motivate employees to achieve the performance goals?
- 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 would an ideal employee for your coffee shop be like? What knowledge, skills, abilities, and other characteristics would the person have? Write a job description with the job title, key responsibilities, and qualifications for the position. Make sure to include both technical skills and so-called soft skills (like communication, teamwork, etc.) in your qualifications list.Evaluate the argument that “High-powered incentives is superior to low-poweredincentives in CEO compensation design”.
- Design an executive compensation package that motivates executives to make decisions that are in the firm’s best interests.How can a manager create a culture of transparency and trust around compensation, so that employees feel valued and motivated to perform at their best?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?