How can an organization design a compensation system

Reference no: EM133715745

Assignment

Purpose

The purpose of the assignment questions is to provide a clear and specific topic for discussion, to encourage meaningful and productive conversation, and to facilitate the exchange of ideas and perspectives among participants.

Objectives

A. Explain current research regarding human resource development and management.

B. Identify emerging strategic human resource issues and challenges such as social accountability, artificial intelligence (AI), crisis management, and the gig economy.

C. Evaluate an organization's compliance with human resources laws and regulations.

Task

Answer the following questions:

A. How can an organization design a compensation system that aligns with its performance management system, and what are some benefits of doing so?

B. Discuss the role of executive pay in today's society. What are some common criticisms of executive compensation, and how can organizations balance the need to attract top talent with concerns about fairness and equity?

C. What are some of the key legal considerations organizations need to consider when designing their compensation systems? How can an organization ensure its compensation practices are legally compliant while being competitive and fair?

D. Share examples of compensation and benefits packages that have successfully retained top talent within your industry or organization. What made these packages effective, and how can other organizations learn from them?

E. Discuss the impact of compensation on employee motivation and engagement. What are some of the factors that can influence the relationship between compensation and employee performance, and how can organizations use compensation as a tool to drive employee engagement and productivity?

Reference no: EM133715745

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