BUS681 Ashford Compensation Philosophy of Maersk

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Question Description


Evaluate the current compensation philosophy of an organization of your choosing (from a third-person perspective). Write a three-to-five page paper (not including the title and reference pages). Your paper should be written in a scholarly third-person tone; it should be in APA format. In addition to the introduction and conclusion, your paper should address the following:

  1. Evaluate the organization’s current compensation philosophy and propose ways to enhance or revamp the current compensation philosophy to meet the changing needs of the organization and its employees.
  2. Examine key factors within the internal and external environment including the mission and strategic focus of the organization, as well as the financial and cultural aspects of your organization (i.e., they cannot have a compensation philosophy where they “lead” the market if the organization does not have the financial resources) that should influence this philosophy. The proposed philosophy itself should be no more than a short paragraph.
  3. Identify the key factors that should contribute to the organization’s development based on your proposed organizational philosophy.

Remember to write from a third-person perspective. Do not include wording like “my company’s philosophy is …” Instead include wording like “XYZ Company Name’s philosophy is …” Remember to write about the company and the company’s philosophy; do not refer to you or your connection to the company.

In addition to the text, cite at least two scholarly references to support your discussion.

Unformatted Attachment Preview

S681.W5A1.12.2014 Description: Total Possible Score: 7.00 Evaluates the Organization’s Current Compensation Philosophy and Proposes Ways to Enhance or Revamp the Current Compensation Philosophy Organization and Its Employees Total: 2.00 Distinguished - Accurately and thoroughly evaluates the organization’s current compensation philosophy and propose ways to enhance or revamp the current compensation philosophy to meet the changing needs of the organization and its employees. Proficient - Accurately evaluates the organization’s current compensation philosophy and propose ways to enhance or revamp the current compensation philosophy to meet the changing needs of the organization and its employees. Minor details are missing. Basic - Evaluates the organization’s current compensation philosophy and propose ways to enhance or revamp the current compensation philosophy to meet the changing needs of the organization and its employees. Relevant details are missing and/or inaccurate. Below Expectations - Attempts to evaluate the organization’s current compensation philosophy and propose ways to enhance or revamp the current compensation philosophy to meet the changing needs of the organization and its employees; however, significant details are missing and/or inaccurate. Non-Performance - The evaluation of the organization’s current compensation philosophy and propose ways to enhance or revamp the current compensation philosophy to meet the changing needs of the organization and its employees is either nonexistent or lacks the components described in the assignment instructions. Examines Key Factors Within the Internal and External Environment, Including the Mission and Strategic Focus of the Organization, as well as the Financial and Cultural Aspects of the Organization Total: 2.00 Distinguished - Accurately and thoroughly examines key factors within the internal and external environment including the mission and strategic focus of the organization, as well as the financial and cultural aspects of your organization that should influence this philosophy. Proficient - Accurately examines key factors within the internal and external environment including the mission and strategic focus of the organization, as well as the financial and cultural aspects of your organization that should influence this philosophy. Minor details are missing. Basic - Examines key factors within the internal and external environment including the mission and strategic focus of the organization, as well as the financial and cultural aspects of your organization that should influence this philosophy. Relevant details are missing and/or inaccurate. Below Expectations - Attempts to examine key factors within the internal and external environment including the mission and strategic focus of the organization, as well as the financial and cultural aspects of your organization that should influence this philosophy; however, significant details are missing and/or inaccurate. Non-Performance - The examination of key factors within the internal and external environment including the mission and strategic focus of the organization, as well as the financial and cultural aspects of your organization that should influence this philosophy is either nonexistent or lacks the components described in the assignment instructions. Identifies the Key Factors That Should Contribute to the Organization’s Development Based On the Proposed Organizational Philosophy Total: 2.00 Distinguished - Accurately identifies relevant key factors that should contribute to the organization’s development based on your proposed organizational philosophy. Proficient - Identifies the key factors that should contribute to the organization’s development based on your proposed organizational philosophy. Some key factors are missing or some are not relevant. Basic - Identifies the key factors that should contribute to the organization’s development based on your proposed organizational philosophy. Several key factors are missing and/or are not relevant. Below Expectations - Attempts to identify the key factors that should contribute to the organization’s development based on your proposed organizational philosophy; however, many of the key factors are missing and/or are not relevant. Non-Performance - The identification of the key factors that should contribute to the organization’s development based on your proposed organizational philosophy is either nonexistent or lacks the components described in the assignment instructions. Written Communication: Control of Syntax and Mechanics Total: 0.25 Distinguished - Displays meticulous comprehension and organization of syntax and mechanics, such as spelling and grammar. Written work contains no errors and is very easy to understand. Proficient - Displays comprehension and organization of syntax and mechanics, such as spelling and grammar. Written work contains only a few minor errors and is mostly easy to understand. Basic - Displays basic comprehension of syntax and mechanics, such as spelling and grammar. Written work contains a few errors which may slightly distract the reader. Below Expectations - Fails to display basic comprehension of syntax or mechanics, such as spelling and grammar. Written work contains major errors which distract the reader. Non-Performance - The assignment is either nonexistent or lacks the components described in the instructions. Written Communication: APA Formatting Total: 0.25 Distinguished - Accurately uses APA formatting consistently throughout the paper, title page, and reference page. Proficient - Exhibits APA formatting throughout the paper. However, layout contains a few minor errors. Basic - Exhibits limited knowledge of APA formatting throughout the paper. However, layout does not meet all APA requirements. Below Expectations - Fails to exhibit basic knowledge of APA formatting. There are frequent errors, making the layout difficult to distinguish as APA. Non-Performance - The assignment is either nonexistent or lacks the components described in the instructions. Written Communication: Page Requirement Total: 0.25 Distinguished - The length of the paper is equivalent to the required number of correctly formatted pages. Proficient - The length of the paper is nearly equivalent to the required number of correctly formatted pages. Basic - The length of the paper is equivalent to at least three quarters of the required number of correctly formatted pages. Below Expectations - The length of the paper is equivalent to at least one half of the required number of correctly formatted pages. Non-Performance - The assignment is either nonexistent or lacks the components described in the instructions. Written Communication: Resource Requirement Total: 0.25 Distinguished - Uses more than the required number of scholarly sources, providing compelling evidence to support ideas. All sources on the reference page are used and cited correctly within the body of the assignment. Proficient - Uses the required number of scholarly sources to support ideas. All sources on the reference page are used and cited correctly within the body of the assignment. Basic - Uses less than the required number of sources to support ideas. Some sources may not be scholarly. Most sources on the reference page are used within the body of the assignment. Citations may not be formatted correctly. Below Expectations - Uses an inadequate number of sources that provide little or no support for ideas. Sources used may not be scholarly. Most sources on the reference page are not used within the body of the assignment. Citations are not formatted correctly. Non-Performance - The assignment is either nonexistent or lacks the components described in the instructions ...
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Tutor Answer

Professor_Rey
School: Duke University

Attached.

Running head: COMPENSATION PHILOSOPHY OF MAERSK

Compensation Philosophy of Maersk
Student’s Name
Institutional Affiliation

1

COMPENSATION PHILOSOPHY OF MAERSK

2

Compensation Philosophy of Maersk
Introduction
Employees act as an essential asset within an organization since they play a crucial role
in ensuring the continuation of the production process and distribution of goods or services from
one point to the next. As a result of workers’ determination to offer their services, the firm
provides them compensation, which implies paying them for completing various tasks as per the
agreement with the employer. Due to the presence of various job categories within the
institution, it becomes necessary to develop a compensation philosophy that fits the skills and
qualifications of all employees. As such, a compensation philosophy refers to a firm’s written
statement that indicates its position concerning a worker’s compensation structure and provides
reasons for the pay, which also offers a detailed framework of consistency among all employees
(Mullins & Schoar, 2016). Although all firms pay their employees based on their skills and
qualifications, developing a compensation philosophy creates awareness among workers to
understand the expectations of a specific position.
Maersk’s Current Compensation Philosophy
Maersk’s compensation philosophy involves paying all its employees based on the formal
agreement between the firm (employer) and its workers. Employees agree to work for the
company as a result of the benchmarking, which indicates the salary range for every position
(Disanferdinand, 2018). After completing a specified period at the workplace, the worker may
receive a salary raise. The firm’s comp...

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awesome work thanks

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