Reference no: EM133142801

The objective of this Assignment:

To demonstrate knowledge and understanding of tools used by human resources professionals to select and rationalize specific approaches to the adoption of an organizational compensation strategy. 

For this assignment, read the following scenario:

For more than 10 years you have been a human resources manager at a recently-unionized tool manufacturing company. Your company is home to more than 50 employees, ranging from machinists to metal fabricators, to accounting and inventory clerks.  Your firm has built a reputation of quality, and the relationships of your long-time employee team with customers are a key pillar of your client service strategy, as well as the willingness of most clients to pay above market norms for your products. Simply put, your products are high-quality, your team is solid and so is your reputation. Challenges the organization faces include the need to consider performance pay for unionized workers. Everyone at the company has the same benefits package and it seems to be "ok" however no one has ever checked how their benefits compare to other firms or how employees feel about their benefits. Many employees have been with the company for a long time and are aging. Workforce demographics must be considered now and for the future and this may affect your compensation strategy. 

Given the recent unionization of your workforce, you are formalizing processes and systems, and you recently conducted an inventory of the key considerations that your team will contemplate in determining the fit of a future compensation system. Remember from your readings the various components that may be found in a compensation system. It comprises much more than just base pay. Now you have to move forward with making your choice, and the process begins by justifying your preferred system to your management colleagues. 

For discussion:

Outline the specific type of compensation system that you have chosen to put forth in one or two paragraphs. Defend the position by linking it back to what you know about the company, labor dynamics, and the completed checklist that you have already undertaken. Suggest the top rationale for your approach to your colleagues in the discussion forum, and why you believe it will work well.