Week 9

Week 9

Assigned Readings:

Chapter 9. Direct Financial Compensation (Monetary Compensation) 

Overview:

With the idea that organizations have planned, recruited, and selected appropriate individuals to help meet the organizational objectives, compensation now becomes the HR function to help retain employees and keep them motivated in the work environment. Therefore, structuring compensation plans and alternative financial compensation practices are provided in this chapter. Compensation is also related to legal considerations and market contextual influences on the process. Methods of pay structuring and employee compensation exceptions are reviewed for their application to alternative organizational systems.

Learning Objectives:

1. Summarize the usual components of a total compensation plan and the environment of compensation practice.

2. Explain the direct financial compensation practices.

3. Discuss job structures and how they are established.

4. Summarize competitive pay policies: pay level and pay mix.

5. Explain what pay structures are and how they are created.

6. Review exceptions to the rules: compensation for sales representatives, contingent workers, and executives.

Reflect on the assigned readings for the week. Identify what you thought was the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding.

Also, provide a graduate-level response to each of the following questions:

1. There are many contextual influences that must be taken into account when designing and implementing direct financial compensation plans, and one of them is interindustry wage or compensation differentials. Briefly, state the implications of these differentials for establishing competitive compensation programs. Then, explain the factors that contribute to the existence of interindustry wage differentials.

 . [Your initial post should be based upon the assigned reading for the week, so the textbook should be a source listed in your reference section and cited within the body of the text. Other sources are not required but feel free to use them if they aid in your discussion].

 [Your initial post should be at least 450+ words and in APA format (including Times New Roman with font size 12 and double spaced). Post the actual body of your paper in the discussion thread then attach a Word version of the paper for APA review]

Short Essay 9

Describe in a brief essay what say-on-pay policies and claw back policies are. Why do corporations implement these policies?

The assignment is to answer the question provided above in essay form. This is to be in narrative form and should be as thorough as possible. Bullet points should not be used. The paper should be at least 1.5 - 2 pages in length, Times New Roman 12-pt font, double-spaced, 1-inch margins and utilizing at least one outside scholarly or professional source related to human resource management. The textbook should also be utilized. Do not insert excess line spacing. APA formatting and citation should be used.