Value-Based Management System
Analyze your current organizations Value Base Management system. In what stage is the organization - Embryonic, Learning, or Mature? Respond to all questions asked in your assignment, providing answers and supporting articles to support or refute findings. It is the best system for the organization? Provide a defense or means of support for your findings.
There are FIVE Essay questions. Answer each in a minimum of 200 words-
Essay Question 1: Instructions - This is a "fictitious case study." Please thoroughly answer parts, 1 and 2.
Starcorp Incorporated is known as one of The Best Places to Work in 2015. Specializing in customer service support for various companies globally. StarCorp Inc. has an average employee age of 45, with low turnover rates for the past few years.
Highlights of employee benefits include a 100% 401k match, which was recently adopted this year. Employees enjoy flexible scheduling and free tuition for undergraduate coursework.
1. Looking at rewards holistically to retain these employees, determine which aspects of the rewards strategy has been the strongest focus and explain how at least four of its elements may be addressed to further enhance this area?
2. Explore another aspect to their reward strategy that could use further development and explain why,
Essay Question 2
When companies take a very simplistic approach to sales compensation, it results in the following situations--Lack of pay for performance and too much pay for the wrong performance. Also top performers enjoy the fruits of the labor in receiving plum territories as a result of past performance or inherited performance.
What should be kept in mind when it comes to designing a sales compensation plan?
Essay Question 3
To make Value Based Management (VBM) Successful, a company must first evaluate its readiness of VBM. Companies fall into one of the following three stages: List and describe all three of them.
Essay Question 4
The not-for profit organizations need to assess pay for performance as they compete for talent from the for-profit organizations. They operate under what different set of circumstances and environment?
Essay Question 5
The issue of compensation and non-profits entails the notion of establishing reasonableness. What are the elements that need to be considered for establishing reasonableness?