Reference no: EM133181788

1. List five goals of the organization's reward and compensation system.

2. Your organization uses the Human Relations Strategy. What extrinsic and intrinsic rewards would you put in place to support this strategy (list two examples of each)?

3. What is the difference between a merit raise and a merit bonus? When would it be appropriate to use each one?

4. Briefly describe the three main categories of performance pay and list two examples for each category.

5. List four advantages and four disadvantages of flexible benefits plans (relative to fixed benefit plans).

6. Identify and describe the four main reasons for conducting performance appraisals.

7. Explain two reasons why communication is so important for employees and two reasons why communication is so important for managers, when preparing to implement a compensation system.

8. "Defined Contribution pension plans are nothing more than an attempt by employers to shift risk from themselves to employees, who are much less able to bear the risk". Describe defined contribution pension plans and briefly explain whether you agree or disagree with the above statement (and why you (dis)agree).

9. When you are formulating a compensation strategy for your client organization, describe the four key constraints that set the parameters for the compensation strategy.