The Pay model and pay strategy

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Due Date: 11:59 pm EST, Sunday of Unit 1 Points: 100 Overview: The Pay Model and Pay Strategy is key to understanding how to design a compensation system that can help an organization achieve success and sustain competitive advantage. How people are paid affects their behaviors at work. Critical in compensation design is thoughtful strategic alignment. Instructions: Using the first two chapters of the Compensation textbook, videos, and additional resources, answer the questions completely.

• Describe the objectives of the pay model. Give an example of each.

• How do the objectives set the standards to judge success?

• Explain why one company can have different pay objectives for different business units.

• Define the four (4) policy choices in the pay model. How do the policies create guidelines to manage pay? Give examples of each.

Requirements:

• Submit a Word document in APA format (double spaced with references and APA in text citations).

• Maximum 6 pages in length, excluding the Title and Reference pages. • At least two resources.

Be sure to read the criteria below by which your work will be evaluated before you write and again after you write.

HRM307 – Compensation & Benefits The Pay Model and Pay Strategy

Copyright Post University 2022, All Rights Reserved

Evaluation Rubric for The Pay Model and Pay Strategy

CRITERIA Deficient Needs Improvement

Proficient Exemplary

0 – 17 points 18 – 23 points 24 – 29 points

30 points

Relevance Does not understand each question nor its relevance to the learning material

Generally, understands each question and its relevance to the learning material

Mostly understands each question and its relevance to the learning material

Completely understands each question and its relevance to the learning material

Complete and Concise

Fails to answer each question thoroughly and concisely

Somewhat answers each question thoroughly and concisely

Mostly answers each question thoroughly and concisely

Thoroughly answers each question completely and concisely

Support Fails to provide relevant examples and/or sources supporting each answer

Generally, it provides relevant examples and/or sources supporting each answer

Mostly provides relevant examples and/or sources supporting each answer

Completely provides relevant examples and/or sources supporting each answer

0 – 5 points 6 – 7 points 8 – 9 points 10 points Clear and Professional Writing and APA Format

Errors impede professional presentation; guidelines not followed.

Significant errors that do not impede professional presentation.

Few errors that do not impede professional presentation.

Writing and format are clear, professional, APA compliant, and error-free.