Should mpbs lead or match or follow competitors

Assignment Help HR Management

Reference no: EM131555028 , Length: 7

Assume you are leading a team of consultants hired by MPBS to help develop their total compensation plan. MPBS wants to implement a compensation plan to support their business strategy. Your team has completed the preliminary review of the organization, including discussions with management, and compiled initial information about MPBS. That information is detailed in the team report.

MPBS views their mission statement as the driver behind the alignment of policies, purposes and objectives of all operating units in the entire organization. Your first task is to help the human resources department create a compensation mission statement as the first step in designing their compensation plan. You are to consider the various factors affecting mission statements and objectives and then:

Recommend a specific compensation mission statement and the specific objectives of the MPBS compensation system that aligns the compensation plan to the company's mission and strategy. Provide a rationale to support your mission statement and objectives.
Your second task is to overcome the past reluctance of top management at MPBS to have anyone put much effort into administrative detail.

They have generally opted for a quick and easy approach to policy and practice. You should plan to educate the top management group regarding the need for more sophisticated and detailed approaches to compensation. To do so, you must include answers to the following questions that were posed by the new HR manager. Justify your responses using scholarly sources.

What are the relevant markets that each of MPBS's major occupational groups should be compared to?

Should MPBS lead, match, or follow competitors? Why?

How will decisions on external competitiveness help MPBS align compensation policies with mission and strategy?

Why is it important and is it worth the effort and cost for MPBS to bother with specifying pay grades and pay ranges?

If pay grades are used, is it better to have few or more grades?

How should the ranges vary by job type and level?

How much overlap should be built into the grade ranges?

In what ways might the plan MPBS develops and the related compensation policies impact job performance?

To complete this assignment, write a 5-7 page report in Word format and provide rationale and scholarly support.

Reference no: EM131555028

Questions Cloud

A list of compensable factors for a point-based method : Describe your recommended approach and the expected impact of that approach on job performance.

How many tons of coal the steam plant must have burned : A steam plant burns two types of coal: anthracite (A) and bituminous (B). For each ton of A burned, the plant produces 27.6 million Btu of heat, 3100 grams.

Discuss which activities related to the purchase and sale : Discuss which activities related to the purchase and sale of merchandise transact in both (how they differ and are the same).

Personal automobile policy liability limits : how much would he have to pay out of pocket if his personal automobile policy liability limits were $100,000/$300,000/$50,000?

Should mpbs lead or match or follow competitors : What are the relevant markets that each of MPBS's major occupational groups should be compared to?

Identify strengths and weaknesses of the book order process : Identify strengths and weaknesses of the book order process, and provide suggestions for any weaknesses you have identified.

Description of company and industry and incentive plan : Distinguish why you think this particular plan is highly motivating and explain how it stimulates employee productivity.

Discuss about the short-term and long-term incentive : Compare any differences that should be made for employees living and working in Germany and in Japan.

Explain why the system has a unique solution : Suppose the coefficient matrix of a linear system of four equations in four variables has a pivot in each column. Explain why the system has a unique solution.

User Account

All Pages