1. Discuss the components and the importance of a total compensation system. Give an example.
2. What other benefits might not cost the company a lot, but really make you glad you work there?
3. Discuss pay for performance systems and some potential challenges and problems that may arise from these systems. What are some ways of addressing these?
4. Design a comprehensive compensation and benefits plan linked to key organizational objectives.
5. Structure a reward and recognition plan.
6. Evaluate emerging trends and issues in total compensation.
Answer preview
These systems in which an employee is paid on merit. This is usually done through some set work targets per employee skills that need to be met to merit the pay. In this setup, there is a possibility for increased performance and efficiency since employees focus mainly on personal performance to meet targets. In such a system, there is the possibility of scaling the labor force depending on the work available. However, there are challenges and problems that face these systems. For instance, if some jobs have characteristics that may limit the extent to which an employee can improve. This is mostly the case where a job process must follow a particular sequence that the employee cannot do anything about other than to wait for the process to complete. Lack of appropriate systems of feedback and employment discrimination are other challenges faced by these systems (Glassman, Aaron, Champagne, & Zugelder, 2010).
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