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

1. Discuss the components and the importance of a total compensation system. Give an example.

A total compensation system entails various components in rewarding an employee. These components may include, firstly, a work-life balance where the work environment and conditions support a balanced work and personal time balance. In this case, employees are able to schedule their own issues and responsibilities as well as have enough rest. Secondly, timely performance recognition is another significant component in rewarding and employee efforts. Thirdly, compensation in terms of salary, incentives and other benefits. These are rewards and appreciation for the work done. All these vital components go…