5 discussion human resource strategies

 

Connect with a professional writer in 5 simple steps

Please provide as many details about your writing struggle as possible

Academic level of your paper

Type of Paper

When is it due?

How many pages is this assigment?

 

W5 Lecture 1 “Compensation and Rewards”

Human Resource Strategies

Compensation and Rewards

It wasn’t too long ago when the workforce was reeling in turmoil due to the financial crisis. Many of my colleagues lost their jobs due to the financial crisis of 2007-2010.  After the crisis, I was also looking for work after working for an organization that I enjoyed working at.  I was getting bonuses for reaching individual as well as organizational goals.

However, my bonuses were not a fraction of the taxpayer bailouts given to Wall Street companies.  Many of my colleagues were making announcements on their LinkedIn accounts through their groups. I can recall lengthy paragraphs of individuals with experience and drive in their fields. They were just in the right place at the wrong time.

Here are some remedies for issues and elements dealing with compensation:

  • Be more strategic about your compensation decisions. You can’t do this if you are unaware of the strategic objective of the organization. As HR practitioners, you can’t expect to be able to make the right compensation decisions if you do not understand the strategic objectives.
  • Move away from paying for a specific position or job title to rewarding based on individual competencies contributions to the organizational objectives.

There are three compensation components that make up overall compensation:

  1. Indirect – The indirect measure is what is comprised or benefits, like medical and dental.
  2. Direct – The direct measure include wages/salary, incentives, bonuses, and commissions.
  3. Nonfinancial – The nonfinancial component is also important in the workplace and in many cases, reasons why employees remain in organizations.

 Recognition programs are good ways for companies to feature employees who do a good job and serves as incentive for others to do the same.When work is rewarded, employees feel that they matter and make a difference.

Organizational support builds a stronger sense of belonging and connection through collaboration and teamwork.

A positive and safe work environment also keeps the mainstay for productivity and ease of mind.

Who doesn’t like a workplace with some flexibility which can be work hours and variety of tasks and projects to reduce boredom and enhance professional development?

So what is strategic compensation? It is the compensation of employees in ways that enhance motivation and growth. It also aligns their efforts with the objectives of the organization.

Strategic compensation begins with analyzing what the organizational objectives are. Once there is an understanding of the organizational objectives, then this is the time when you need to consider what is best for the company in terms of what skills and behaviors will be rewarded. Sounds interesting. This is why there must really be clear picture of what the organizational objectives are. 

 

Compensation and Pay for Performance

Question A

  • Tomas Corporation had 400 employees and wishes to develop a compensation policy to correspond to its dynamics business strategy. The company wishes to employ a high- quality workforce capable of responding to a competitive business environment. Suggest different compensation objectives to match Tomax’s business goals.

Question B

  • A frequently heard complaint about merit raises is that the do little to increase employee effort. What are the causes of this belief? Suggest ways in which the motivating value of merit raises may be increased. 

Order a unique copy of this paper
(550 words)

Approximate price: $22

Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our Guarantees

At 111papers.com, we value all our customers, and for that, always strive to ensure that we deliver the best top-quality content that we can. All the processes, from writing, formatting, editing, and submission is 100% original and detail-oriented. With us, you are, therefore, always guaranteed quality work by certified and experienced writing professionals. We take pride in the university homework help services that we provide our customers.

Money-Back Guarantee

As the best homework help service in the world, 111 Papers ensures that all customers are completely satisfied with the finished product before disbursing payment. You are not obligated to pay for the final product if you aren’t 100% satisfied with the paper. We also provide a money-back guarantee if you don’t feel that your paper was written to your satisfaction. This guarantee is totally transparent and follows all the terms and conditions set by the company.

Read more

Zero-Plagiarism Guarantee

All products that we deliver are guaranteed to be 100% original. We check for unoriginality on all orders delivered by our writers using the most advanced anti-plagiarism programs in the market. We, therefore, guarantee that all products that we submit to you are 100% original. We have a zero-tolerance policy for copied content. Thanks to our strict no plagiarized work rule, you can submit your homework to your professor without worrying.

Read more

Free-Revision Policy

TThis is one of the most cherished courtesy services that we provide to help ensure that our customers are completely satisfied with our finished products. Delivering the best final product to our customers takes multiple inputs. 111papers.com prides itself on delivering the best university homework help services in the writing industry. And, in part, our free revision policy is how we do it. What’s more, all our revisions are 100% free without any strings attached.

Read more

Privacy Policy

Client privacy is important to use. We know and understand just how important customers value their privacy and always want to safeguard their personal information. Thus, all the information that you share with us will always remain in safe custody. We will never disclose your personal information to any third party or sell your details to anyone. 111 Papers uses the most sophisticated, top-of-the-line security programs to ensure that our customers’ information is safe and secured.

Read more

Fair-Cooperation Guarantee

Placing your order with us means that you agree with the homework help service we provide. We, in turn, will endear to ensure that we do everything we can to deliver the most comprehensive finished product as per your requirements. We will also count on your cooperation to help us deliver on this mandate. Yes, we also need you to ensure that you have the highest-quality paper.

Read more

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency