Explaining new compensation strategy

Assignment Help Operation Management

Reference no: EM132782918

Write an essay explaining your new compensation strategy for the mid-level manager position you still need to fill. Your audience is the chief executive officer (CEO) and other supervisors in your organization. In this essay, include the items listed below.

After a brief introduction, explain how equal employment opportunity laws impact the organization's compensation strategy.

Compare and contrast the advantages and disadvantages of pay-for-performance and competency-based pay. What strategy would you recommend for your organization, and why?

Explain how various motivational theories can factor into your development of a multi-generational compensation package for your whole organization that includes indirect benefits. Be sure to give specific examples of how different generations of applicants or employees will be affected.

Explain your proposed compensation package, which should include direct and indirect benefits and how the package will affect hiring and retention. Be sure to specifically identify how much you will pay the mid-level managers, and indicate how it compares to your state and the federal minimum wage. You can search the Internet for sites that list comparable pay data. You should identify a low, medium, and high pay range for the mid-level manager.

Explain how you will assess the effectiveness of the compensation strategy a year from now.

Your essay will contain a one-page appendix in which you will create a chart of your compensation strategy. This chart should have three columns, which should address the areas listed below:

legally mandated benefits,

direct benefits (include how much you will pay the mid-level managers), and

indirect benefits.

Reference no: EM132782918

Questions Cloud

Contract resources procurement process : Explanation of how the contract resources procurement process that was described will assist Will in negotiating the best purchase.

Customer loyalty and digital relationship marketing : Discuss the different techniques that companies use to engage with their customers online. Discuss the possible benefits or drawbacks.

Minimizing waste is integral part of lean methods : Identify some sources of waste in construction and aggregate industry and define and describe how they may be eliminated.

Explaining to your staff significant of stocking : Create a executive summary explaining to your staff the significant of stocking, placing timely orders, and provide a step by step method

Explaining new compensation strategy : Write an essay explaining your new compensation strategy for the mid-level manager position you still need to fill.

Describe why artificial intelligent : Briefly describe why Artificial Intelligent (Ai) important? Also provide example to support your essay.

Discuss the trade-offs of quantity-quality : Discuss the trade-offs of quantity, quality, and cost in a small business such as a custom framing store, a restaurant, a garage,

Placement affect other pieces within the hype cycle : Where is robotics on the hype cycle? How does its placement affect other pieces within the hype cycle?

Research potential problem that technology : The purpose of this assignment is to identify and research a potential problem that technology could assist in solving.

User Account

All Pages