Essay about Hrm 430 Course Project
Jane Q. Student
June 23, 2013
The aim of this paper is to examine the compensation challenges within Owens & Minor and create a compensation strategy that will benefit not only the company, but the employee.
With the constant change in today’s business world, to have a competitive advantage makes it difficult for employers to attract and retain the most talented employees. Identifying the company’s compensation strategy ensures the organization offers the right pay and manages the pay increases to retain top talents. When we hear the word compensation we think about compensating an employee for their work performed, but there …show more content…
Furthermore, this paper will draw on research, which has been compiled to review strategies other organizations have utilized related to the challenge of creating an incentive program where teammates reach their objectives and discuss possible solutions to this problem. Recommend strategy proposals the organization should follow to address its compensation and benefit challenge, and impediments to this strategy, including any contingency plans that should be considered.
The Compensation Challenge and the Review of its Success:
Challenges faced within the organization are compensating teammates with the adequate amount to provide incentive to retain qualified talents and to provide employee morale within the