Philosophy of Compensation Paper
Address the following compensation concepts and strategies by answering 6 questions and conclude with a 1-page CWV (Q7) to earn full credit for this assignment:
How should a compensation plan reflect an organization’s mission statement and core values? Cite an example using a real company.
How should an organization’s compensation approach align with organizational strategy?
How should pay and benefits be distributed throughout the organization?
How should individual performance be recognized via compensation?
How should the compensation approach impact employee recruitment and retention?
To what extent might a compensation plan be impacted current world economic, governmental, and legal conditions?
Do you see any overlap between Biblical principles of compensation concepts and strategies presented in this course? If so, describe them clearly and support your answer with a scripture. If not, defend your position.
Society for Human Resources Management shrm.org (Links to an external site.)
S. Department of Labor, Bureau of Labor Statistics http://www.bls.gov/home.htm (Links to an external site.)
WorldatWork, the Professional Association for Compensation, Benefits, and Total Rewards http://www.worldatwork.org (Links to an external site.)
Workers Compensation Research Institute http://www.wcrinet.org (Links to an external site.)
