Details of this Paper

Devry HRM598 final exam 2014

Description

solution


Question

Question;Final ExamQuestion 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.In creating a job-based point evaluation plan for the organization, identify and discuss four compensable factors that you would incorporate in the job-based point evaluation plan. Please describe a job-based point evaluation plan. In addition, define each factor, justify why you selected it, and provide the weights or scales that you would assign to it. (Points: 30) 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.Describe 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#45787 | Written in 18-Jul-2015

Price : $47
SiteLock