HR Presentation on Talent Management in a Changing Organization: Part 3
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corectedpart2.pptxWeek 4 Assignment Template: HR Presentation on Talent Management in a Changing Organization: Part 2
Part 2: Compensation Strategies
Keep in mind a compensation strategy puts in place point of view on how an organization will be able to determine pay out and benefits for employees. Strategies bring into line a better way to approach for compensation resources for the Thoreau Enterprise, helps you decide where you want to compete to keep good employees, how to plan out a great competitive the company need as a reward to attract qualify candidates.
Traditional Methods: 1 of Thoreau Enterprise
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Traditional Methods: 2 of Thoreau enterprise What is this title?
Hourly Wage plus incentive
ex: someone getting an offer to work forty hours a week with x amount per Hour anything over forty hours will count as overtime plus performance incentive pay.
Salary plus incentive
Ex: someone getting pay a flat salary for the year not eligible for overtime, but still eligible to get pay on performance.
According to Amy Stewart, traditional compensation embraces money funded to employees as cash, such as hourly wages, salaries, bonuses and commission.
Traditional Methods: 3 of Thoreau enterprise
More energetic content would be helpful here
Amy Stewart also mentioned that Wages and salary classify under the type of base pay while bonuses and commission fall under the category of variable pay.
She mean base on performance it may varies. Those traditional method lead to extras imcome income and motivation to get more.
Nontraditional Methods: 1 of the Thoreau Enterprise
Benefit Retirement
Ex: some company may offer a generous matching to the employee contribution up 10% so they can help them meet financial goal retirement time.
A good retirement plan sometime can help employer keep employees for a long time.
The reason why ,it’s because most people always worried about of what going to be there financial life priority doing retirement period, they want to be ready at the time of retirement.
Nontraditional Methods: 2 of Thoreau Enterprise
Education Benefit
Ex : a Company
May offer tuition
Reimbursement for
Employees that are eligible
Condition may apply
In-slide citations are needed to improve credibility
Education benefit give hope to employees that are ambitious to continuous there career and there education at the same time for a better tomorrow.
Components and Risks: 1 of the Thoreau Enterprise
Outline Thoreau compensation values.
Connect compensation to Thoreau general business strategy.
Modification the principles and reinforce it with compensation.
Reward the behaviors that drive the results.
Think through a total compensation - these are really not risks.
According to Jen Dewar, Employee compensation plays an important role in the ability to show Talent. And she said that a proper strategy can help you recruit and retain the best talent on the market, although ensuring reasonable compensation nevertheless of demographic characteristics.
Components and Risks: 2 of the Thoreau Enterprise
Risk they need to alleviates are:
cheating
shortcuts
unethical behavior.
become addictive.
foster short-term discerning
More energetic content would be helpful here
Those are the risk the company may face .
References
References
dewar Dewar, J. (2016, Jun 16). Reasons to pay more attention to your employee compensation strategy. Retrieved from www.lever.com: https://www.lever.co/blog/3-reasons-to-pay-more-attention-to-your-employee-compensation-strategy/
Stewart, A. (2020, January 13). What are the different types of compensation? Retrieved from www.payscale.com: https://www.payscale.com/compensation-today/2020/01/what-are-the-different-types-of-compensation
Great compensation help toward company success as well can put the company into the risk where employee performance can be unethical.
Hi Nedje
I appreciate the experimentation with PowerPoint. The deck is still sloppy, working with graphics can be challenging. Remember do not sacrifice the quality of the content for visual appeal, those two must go hand in hand. Think about adding a in-text citation on every slide.
Thanks
Rob
