Ashford University - BUS 681 Compensation and Benefits - week 3 DBs plus assignment

Week Three Learning Outcomes

This week students will:

• Discuss the components of developing a market competitive pay system.
• Outline the job evaluation process.

Overview

Assignment	Due Date	Format	Grading Percent
Discussion 1: Building Blocks	Day 3 (1st post)	Discussion	3
Discussion 2: Job Analysis	Day 3 (1st post)	Discussion	3
Assignment: Market Competitiveness	Day 7	Written Assignment	7

Readings

1. Read the following chapters in your text, Strategic Compensation:
   • Chapter 6: Building Internally Consistent Compensation Systems
   • Chapter 7: Building Market-Competitive Compensations Systems
   • Chapter 8: Building Pay Structures That Recognize Employee Contributions

Recommended Readings

1. Read the following journal article for further insight into this week’s topics:
   • Earle, J. (2010). The emerging role of Clawback policies for managing risk in compensation programs. Benefits Law Journal, 23(1), 72-79.  Retrieved from the Proquest database.
2. You will find a list of websites that you may find useful under Course Materials in your online classroom.

Discussions
To participate in the following discussions, go to this week's Discussion link in the left navigation.

1. Building Blocks
    
   Discuss the basic building blocks of developing a market competitive pay system, including the relationship between internal and external equity. Respond to at least two of your fellow students’ postings. 
    
2. Job Analysis
    
   Provide a brief overview of the job evaluation process, including the importance of compensable factors.  Detail the compensable factors of a position you are familiar with and their impact on that position’s salary, and you may want to reference the job analysis and job description process, which form the foundation of job evaluation. Identify at least four pitfalls that exist for organizations that do not follow this process.  Respond to at least two of your fellow students’ postings. 

Assignment
To complete the following assignment, go to this week's Assignment link in the left navigation. 

Market Competitiveness

Compose a 3-5 page paper that assesses the concept of market competitiveness in relation to an organization’s pay system, particularly when it is unable to offer its employees market competitive salaries because of a lack of financial resources. Propose alternative approaches for organizations which have limited financial resources and outline at least three specific steps that could be taken to minimize the impact this could have on the firm’s success.

Carefully review the Grading Rubric for the criteria that will be used to evaluate your assignment.