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Question;Question 1. 1. (TCO A);The new CEO of your company, who just came from a competitor, has just asked;you to discuss the organization?s compensation system. As the compensation;manager, you tell him about the organization?s nearly 500 employees in about 70;different job titles who are located in three locations in L.A. He asks you to;describe the strategy used to guide compensation system decisions. You explain;that ordinarily, pay models are guided by several strategic policies. Describe;what goals a compensation system should have and how four strategic pay;policies apply to the organization. (Points: 30);Question 2. 2. (TCO B);The VP for HR met with you, the compensation manager, to go over the new;strategies for attracting new employees for the offshore oil recovery division.;The division works with oil production companies to help prevent oil spills and;recover oil where leakages have occurred. The division employs many engineers;and scientists with expertise in hydraulics, oil production, chemistry, and so;forth. Employee assignments are often for 3 to 6 months in different countries;around the world. The VP for HR indicates that you should use a job-based point;method.;Question 3. 3. (TCO B);You are the compensation manager for Middle Financial Services. The;organization buys, repackages, and sells financial instruments. The;organization's five major units are sales and marketing, new products;development, legal services and compliance, IT services, and management.;You need to develop a;job evaluation plan for the organization. Describe the difference between;person-based plans and job-based plans. Explain which one you would use. What;factors would you consider? What is one advantage and disadvantage of each?;(Points: 30);Question 4. 4. (TCO C);You are the new compensation manger in an established plastic silverware;organization. As you become familiar with the organization, you find that there;is a significant problem in turnover in two of the three units in the company.;Exit interviews indicate that seasoned employees with good performance records;are leaving for other companies. The HR director asks you to prepare a plan for;dealing with the turnover problem.;In order to prepare;your plan, what additional information would you like about the company? Given;the information you have now, what competitive market pay policy would you;recommend for the company to use? Identify four competitive market pay;policies, describe them, and give an example of when each would be appropriate;to use by an organization. (Points: 30);Question 5. 5. (TCO D);You are a consultant who specializes in compensation. You are working with;Midwest Highway, Ltd, a road construction company housing five plants that;produce materials for road building. The CEO of the company wants to know what;type of performance measurement tool should be used in its production;facilities in the future. The main production job in the five plants (about 85;out of the total of 125) involves operation of machines that mix and form the;surfacing materials. The production lines are well established and product;lines are consistent. The job appears to you to be a low-level one with;prescribed routines.;The CEO asks you the;following question: Should we consider a straight ranking approach, a rating;system such as a behavioral anchored rating scale (BARS), a management by;objectives (MBO) format, or a 360-degree multirater approach? Describe the four;types of performance assessment approaches. Recommend one and justify why you;have chosen it. (Points: 30);Question 6. 6. (TCO D);The new HR VP is concerned about the performance appraisal process in the;hand-held video game company where you are the compensation manager. You then;review the results of the last performance appraisal cycle. It appears that;supervisors and managers may be having difficulty in doing the appraisals. You;are concerned about validity and reliability of the process.;In preparation for a;training program for supervisors and managers, identify at least three common;errors in the performance appraisal process and describe them. In addition;describe steps to minimize these errors. (Points: 30);Question 7. 7. (TCO H);You are a compensation consultant working with a Top 100 bank on the east coast;of the United States. The Board of Directors of the bank is in the process of;hiring a new CEO. They indicate that they are concerned about public;perception. You are invited to a compensation committee meeting to recommend an;executive compensation strategy.;Describe the;components of an executive compensation plan, and explain how these components;can help support the organizational strategy. (Points: 30);Question 8. 8. (TCO G);As HR Director, you have implemented a series of brown bag lunches for the HR;staff members on things that will help them understand the legal and regulatory;environment of human resources. You will be conducting the first one on the;Fair Labor Standards Act (FLSA) because it is probably the most comprehensive;and far-reaching legislation that affects compensation.;aDescribe the four key;requirements and why they are important in compensation. (Points: 30);Question 9. 9. (TCO E);As a compensation consultant, you have been asked by a client organization to;brief their management group on incentive plans like gain-sharing and;profit-sharing plans.;Briefly describe what;gain-sharing and profit-sharing plans involve. What conditions should exist;prior to implementation to make it easier to implement? What are the advantages;and disadvantages of group incentives like gain-sharing and profit-sharing;plans? (Points: 30)


Paper#45726 | Written in 18-Jul-2015

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