Reference no: EM13865111
You are the Vice President of Compensation & Benefits for a global Fortune 100 company. You have recently hired anew Compensation & Benefits Managers from outside the company. (Refer to the position description to learn aboutthe position's duties and responsibilities.)
Write a paper that addresses the following questions:
- What kind of goals would you create for the incumbent of this position? Using the complete goal settingframework (we used this approach in Week 6 of the course, i.e., goal statement, strategies, tactics, etc.)described in Mone& London, Chapter 4:6
- Develop two (2) performance goals and one (1) development goal. (You have to be creative heresince you do not have any performance data for this new hire).
For each of these 3 goals:
- Write 3 strategies for how you will achieve each of the goals
- Select one of the strategies for each goal and:
o Write 4-5 tactics for that strategy
o One measure of success
o One measurement.
Determine:
o How frequently you would have informal and formal feedback sessions?
o Describe the focus of these feedback sessions; discuss specifically what you would focus on andwhy.
- If you wanted to provide some information recognize during one of these informal feedback sessions foroutstanding performance, say after the first two months:
o What behavior or performance would you want to recognize?
o What form of recognition would you use, and why would you use it?
• At the end of the performance year, you will have to evaluate the Compensation & Benefits Manager'seffectiveness and performance. Following the format of the example in Mone& London on pp. 20-21:
o Create four (4) effectiveness areas with a minimum of four (4) behaviors for each area. (Do notcopy or use the information that is displayed on pp. 20-21. Be creative. Explain why you chose
each effectiveness area.)
• At the end of the performance year, you are told by management that your discretionary bonus pool hasbeen approved. You, therefore, have the budget to award a bonus to the Compensation & BenefitsManager.
o In your view, what would the Compensation & Benefits Manager have to have accomplished tobe eligible to receive a discretionary bonus? Given that accomplishment and going back to thebonus range for this position that you identified earlier in the paper, how much of a bonuswould you award. Please explain your rationale.