Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask HR Management Expert

Part 1:

Discussion Questions

1. Tomax Corporation has 400 employees and wishes to develop a compensation policy to correspond to its dynamic business strategy. The company wishes to employ a high quality workforce capable of responding to a competitive business environment. Suggest different compensation objectives to match Tomax's business goals.

3. What is job evaluation? Explain the differences between the major job evaluation systems, noting the advantages and disadvantages of each.

4. Describe the basic steps in conducting a wage and salary survey. What are some factors to consider?

6. What is a compensation scorecard and how does it help align a company's strategy with its compensation system?

Case Study 2

1. Why is it important for pay to be externally fair?

2. Why is it important for pay to be internally fair?

3. What should Costa Vida's compensation strategy look like? Hint: what are the company objectives and how can employee pay help to achieve those objectives?

4. What should the pay structure look like? What pay mix would you recommend?

5. How should Nathan communicate a new compensation strategy to his franchisee owners and managers?

6. What effect will paying higher wages have on Costa Vida in the short term? What effect will it have in the long term? Explain.

Part 2

Discussion Questions

1. Working individually or in groups, identify the factors for a successful incentive plan.

2. Contrast the differences between straight piecework, differential piece rate, and standard hour plans. Explain where each plan might best be used.

3. A frequently heard complaint about merit raises is that they do little to increase employee effort. What are the causes of this belief? Suggest ways in which the motivating value of merit raises may be increased.

4. Because of competitive forces within your industry, you have decided to implement a profit sharing plan for your employees. Discuss the advantages of profit sharing and identify specific characteristics that will ensure success for your plan.

Case Study 1

1. Are CEOs and key corporate executives worth the large pay packages they receive? Explain.

2. Do you agree with Peter Drucker that corporate executives should receive compensation packages no larger than a certain percentage of the pay of hourly workers? Explain.

3. Will the Dodd-Frank Wall Street Reform and Consumer Protection Act giving shareholders the right to vote on executive pay influence the size of these packages in the future? Explain.

Case Study 2

1. Do results from the survey illustrate typical complaints about teams and specifically about team incentive rewards? Explain.

2. If appropriate, what changes would you recommend to improve the incentive reward program? Be specific.

3. Would management have benefited from employee involvement in the initial design and implementation of the program? Explain.

HR Management, Management Studies

  • Category:- HR Management
  • Reference No.:- M91949052
  • Price:- $40

Priced at Now at $40, Verified Solution

Have any Question?


Related Questions in HR Management

Demand for walnut fudge ice cream at the sweet cream dairy

Demand for walnut fudge ice cream at the Sweet Cream Dairy can be approximated by a normal distribution with a mean of 21 gallons per week and a standard deviation of 3.5 gallons per week. Lead time is two days, and the ...

A firm that has recently experienced an enormous growth

A firm that has recently experienced an enormous growth rate is seeking to lease a small plant in Memphis, TN; Biloxi, MS; or Birmingham, AL. Prepare an economic analysis of the three locations given the following inform ...

Quesiton the brisson-banks 2010 article in the required

Quesiton: The Brisson-Banks (2010) article in the required reading for this unit compares the five different change management models presented in this unit. It also describes various situational variables that could inf ...

An airline operates a commuter plane that holds 30

An airline operates a commuter plane that holds 30 passengers. For every seat that has a passenger on the flight, the airline makes a $230 profit. The airline takes 30 reservations for the flight but has an average of a ...

Discussion disadvantaged and vulnerable Discussion: Disadvantaged and Vulnerable

Discussion: Disadvantaged and Vulnerable Populations Throughout history, groups of people have received mistreatment that has little to do with who they are as people and more to do with their age, gender, socioeconomic ...

Case studybr investments is a reputed finance company

Case Study B.R Investments is a reputed finance company having 15 branches in different part of the country. In the home office there are more than 200 employees. This company has a performance rating under which the emp ...

Question powerpoint presentation based on four different

Question: PowerPoint Presentation based on four different conflicts you have encountered. These conflicts can be work related or personal conflicts. The presentation will consist of 5 slides excluding cover and reference ...

Assignment 1 cultureimagine you work for a company that has

Assignment 1: Culture Imagine you work for a company that has recently merged with a global company. Write a brief introduction to your company as well as the company that merged with the company . Then develop an eight ...

Question in a paper 1500-1750 words develop an hr strategy

Question: In a paper (1,500-1,750 words), develop an HR strategy for a current or prospective company. Detail the implementation plan for your specific HR strategy. Incorporate concepts learned throughout this course. Pr ...

1 inventory management is one of the most important

1. Inventory Management is one of the most important decisions in operations/supply chain. If a company has unlimited(almost) financial resources (meaning don't have to worry about costs), would that make it a less impor ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As