Hrm 598 Week 8 Final Exam Essay
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)
2. (TCO B) …show more content…
4. (TCO C) A high-tech start-up company has retained your services to assist them in determining a competitive market pay policy for the company to use as they staff up. In order to help them, what information would you need about the company? Describe four competitive market pay policies, and give an example of when an organization might want to use each policy. (Points : 30)
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 like a behavioral anchored rating scale (BARS), a management by objectives (MBO) format,