BUS 434 Entire Course

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BUS 434 Entire Course

Employee Satisfaction. “Employee satisfaction relates directly to income obtained from work performed and the lifestyle opportunities made available to the workers and their families from this work-related income.” Elaborate on the link between work-related income and employee satisfaction in today’s workplace. Respond to at least two of your classmates’ postings

Global Wage Rates. Wage rates in the United States are higher than similarly skilled workers in other countries such as China, Mexico and India. Consequently, many U.S. businesses have outsourced their manufacturing and production needs to take advantage of these lower wage rates. Discuss how, working collaboratively, the federal government and U.S. businesses can modify employee compensation packages to become more globally competitive. Respond to at least two of your classmates’ postings

Compensation System. A basic premise of a market-based economy is that each individual has the opportunity – through education, experience, hard, work, etc. – to improve his or her job earning potential. As a result, some employees may enjoy greater earnings than their colleagues. Assess how an organization can create a fair, market-competitive compensation system that provides greater rewards for those who earn it, yet is viewed as fair and equitable by the organization. Respond to at least two of your classmates’ postings.

Job Descriptions. The job description is often referred to as the building block of human resources. Nearly every employment action – recruitment, compensation, discipline, etc. – is predicated on an effective job description.

Today, there is considerable debate whether job descriptions should be broader and more generic, versus narrow and more specific. Distinguish between the advantages and disadvantages of each approach, and which you see as the more preferable approach. Respond to at least two of your classmates’ postings.

Job Evaluation Methods. There are two general types of job evaluation methods: those that investigate the job as a whole and those that investigate the job from a variety of components. Choosing one job evaluation method, examine how that method would be the preferable approach to attain comparable worth throughout the organization, and where it would not be the preferable approach. Respond to at least two of your classmates’ postings.

Survey Preparation. Surveys are an important tool to assess the competitive forces in the marketplace regarding pay practices. The most critical step in the survey process is obtaining the proper job match. For an organization you are familiar with, identify a position that would be the match to utilize in your survey, including a brief discussion on the limitations of using this position to determine your organization’s overall salary competitiveness in the market. Respond to at least two of your classmates’ postings

Foundations of a Compensation Strategy. The most effective compensation strategy is one that develops a clear link between the following components:

Job Description (i.e., work that an employee is expected to perform).

Performance Evaluation (i.e., work that the employee has performed).

External Salary Survey and Internal Salary Comparison (i.e., pay provided to each employee).

Examine the interrelationship between these three components by describing the purpose of each component and how it affects the others. Then explain how all three components would be used to determine the compensation for an employee. Your examination should include a salary evaluation for a position you are familiar with (Administrative Assistant, Human Resource Manager, Maintenance Worker, etc). The salary evaluation should

give results for each of the three components and detail how pay is finally determined for this position based on the three components. Example of the salary evaluation portion of your analysis:

Purchasing Manager.

Primary functions from the Job Description: To plan, direct, and coordinate the activities of buyers, purchasing officers, and related workers involved in purchasing materials, products and services.

Organizational performance evaluation system:

Outstanding – 6% Increase

Exceeds expectations – 4% Increase

Meets expectations – 2% Increase

Does not meet expectations – No Increase

External Salary Survey: (salary survey, which you can typically obtain online) Monthly salary range at $4,300 – $5,200.

Internal Salary Comparison: (the relationship of this position to similar positions in your organization) Position is similar to Accounting Manager, and should be paid within the same monthly salary range of $4,400 – $4,900.

Submit your analysis in a two- to three-page paper formatted to proper APA 6th Edition specifications. Include a minimum of two scholarly references to support your analysis.

Performance Standards. Describe the relevance of performance standards for today’s knowledge-directed workers, and how their use will result in a more competitive compensation and benefit strategy. Respond to at least two of your classmates’ postings

Performance Incentives. Compare and contrast when it would be preferable to motivate employee performance through short-term incentives versus long-term incentives, and vice-versa. Respond to at least two of your classmates’ postings.

Executive Compensation. Choose one of two statements below and

construct an argument supporting your position:

a. The market trend towards escalating executive compensation reflects the critical importance of an

executive to an organization’s long-term viability.

b. The growing compensation inequity between executive management and the average employee

threatens to destabilize organizational morale and societal justice.

Respond to at least two of your classmates’ postings.

Benefit Packages. Today’s globally competitive business environment has caused many U.S. businesses to reduce the value of their employee benefit packages. Examine how an organization can maintain its costly benefit structure while remaining competitive against countries whose companies do not offer such benefits. Respond to at least two of your classmates’ postings.

Final Paper

Attracting and retaining the most talented employees is essential for long-term organizational success. An important component to attracting and retaining such employees is the design and implementation of an effective compensation and benefit system.

Assume the role of a highly regarded human resource consultant hired to review, analyze, and revise the compensation and benefit system utilized by your city’s largest employer, Holland Enterprises. The firm employs 3,500 employees, but since 2007 has lost 25% of its staff. Exit interviews indicate the primary reason a majority of these employees have resigned is because of a compensation and benefit system that is perceived to be unfair and uncompetitive in the marketplace.

Present to the management a revised compensation and benefit strategy. Your proposal should include a discussion of:

How an effective compensation and benefit system contributes to organizational effectiveness.

The principle components of your revised compensation and benefit system for a large-scale organization as well as a recommendation for each component.

A convincing argument to the already skeptical top managers of this organization to increase their compensation and benefit expenses.

At a minimum, your compensation and benefit system would include the following components:

Compensation and benefit philosophy

Pay structure architecture (pay grades, pay ranges, and pay width)

Ratio of base pay to incentive (bonus) pay

Emphases on external equity or internal equity

Principle type of benefits to include (example: deferred compensation match, health insurance, vacation and sick leave, etc.)