Reference no: EM132360453
Question: Compensation Purpose and Strategy Document
The purpose of this assignment is to choose a compensation philosophy that is appropriate for your chosen firm and articulate a rationale for this selection.
There are two aspects to this assignment. First, describe the risks and benefits with leading, meeting, and lagging the market in overall compensation and benefits. Next, choose the appropriate strategy (lead, meet, or lag) for your firm, and provide rationale about why this is appropriate.
There is a minimum requirement of 500 words for the compensation purpose and strategy document.
Consider some of the following factors in your assignment:
1. Payroll expenses are usually the highest expense at most firms. If you lead the market, this expense can be taxing.
2. If you are pursuing top talent in human capital rich industries (e.g., software engineering), lagging the market may keep you from competing for market share against your competitors.
3. If you meet the market, paying average will generally not attract top talent, and in addition, you will not have the labor-cost savings of a lag-the-market strategy.
Any sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations in APA format.
|
What are some hr responses to the changes
: Discuss how globalization has changed jobs in an organization where you have worked. What are some HR responses to those changes?
|
|
Evaluate the current pay structure used by your company
: Evaluate the current pay structure used by your company and assess the recognition of employee contributions. Make two (2) recommendations for improving.
|
|
Value chain is comprised of both support activities
: As discussed by Rothaermel (2017), a value chain is comprised of both support activities to include Research & Development, Information Systems,
|
|
Favorite companies is landscape supply business
: One of my favorite companies is a landscape supply business that I use regularly. The value chain is relatively simple.
|
|
Describe the risks and benefits with lagging the market
: There are two aspects to this assignment. First, describe the risks and benefits with leading, meeting, and lagging the market in overall compensation.
|
|
Value chain is the process that companies add value
: Value chain is the process that companies add value to their services or product and market, or it is the internal activities a firm engages
|
|
Define what are the competitive strengths and weaknesses
: In this unit's assignment, you will consider and discuss a specific theory of competitive advantage held by some of America's leading health systems.
|
|
Discuss the specific interest of lobbyist in each example
: Discuss the specific interest of the lobbyist in each example. Discuss in detail some of the ethical issues and moral disputes for each example.
|
|
Develop mission statements for a healthcare facility
: Develop mission, vision, and value statements for a healthcare facility, incorporating the key characteristics and components of these statements.
|