compensation and Benefits

Anonymous
timer Asked: Feb 9th, 2019
account_balance_wallet $80

Question Description

Final Project

A Final Project is due the last class session. The Final Project will contribute 30% to the course grade.

Select an organization that either has or is experiencing challenges with its compensation and benefit system. The student will provide a brief historical view of the organization. The student should assess the company’s current challenge, review other organizations that had a similar situation (and the strategy they devised to address the issue), explore theories and strategies that should be contemplated to address the situation, and finally, include a recommendation to management regarding how to address/resolve the situation. Importantly, the student should ensure any recommendations are based on solid research and analysis and reflect a comprehensive solution to the problem.

The Final Paper must include a . minimum of 8 credible sources in addition to the textbook. Research topics must be reviewed in advance with the instructor.

Writing the Compensation and Benefits Paper
This essay must reflect what is considered the current "state of the art" systems, reflecting both academic and professional (practical) orientations. The Final Paper must be 8-10 double-spaced pages (not including the title and reference pages) and be formatted according to APA style guidelines. This paper may be written in first person. This Final Paper should review the available research, discuss the implications of that research for the topic area, and provide conclusions. The paper should be organized into the following areas (use section headings to organize your key points):

  • Introduction: The area of research should be described and the purpose of the research. That is, describe the topic area in terms of (a) its relationship to the topic and (b) what you want to be able to contribute to the training literature by writing this paper. Your introduction must include a succinct thesis statement.
  • Review of the literature: Students must provide a brief historical view of the organization and assess the company’s current challenges. This review will include an examination of other organizations with similar situations, including the strategies used to address their issues. Students need to explore theories and strategies that could address the situation. Identify any areas that may have not been addressed in the literature used for review.
  • Implications: Assess any implications. Organize the implications of the literature in a manner that logically builds the case for your recommendations. For each of your implications be sure to reference the literature related to that implication. Be sure to indicate whether the implication is one that has already been made in the literature or if this is one that is original to you through your own analysis.
  • Recommendations: Based on the research, students must make recommendations for a comprehensive solution to the problem. This is where you tie all the pieces together. Make sure your recommendations are organized in a logical order that synthesizes your major points relative to the purpose of your paper. Be sure that your recommendations are justified and have credible support. Inspire your audience to think about the practical application of your topic. Remember, this is the last thing you are leaving with your reader so make the context of your message clear, communicate the impact of your topic, and leave a lasting impression.
  • Conclusion: Be sure your conclusion summarizes your paper and explains how you have addressed the thesis statement.

  • · Must include a title page according to APA style. · Must include an introductory paragraph with a succinct thesis statement. · Must address the topic of the paper with critical thought and analysis. · Must include section headings to organize your key points clearly. · Must include citations to references that support the assertions made and facts presented in the paper. · Must conclude a conclusion paragraph that ties directly back to your thesis statement. · Must use APA style as outlined in the approved APA style guide to document all sources. · Must include, on the final page, a reference list that is completed according to APA style as outlined in the approved APA style guide.

Unformatted Attachment Preview

Description: Total Possible Score: 30.00 Introduces the Area of Research and Describes the Purpose of the Research in Terms of Its Relationship to the Topic and What It Contributes to the Training Literature and Includes a Succinct Thesis Statement Total: 6.00 Distinguished - Accurately and comprehensively introduces the area of research and describes the purpose of the research in terms of its relationship to the topic and what it contributes to the training literature. Your introduction must include a succinct thesis statement. Proficient - Accurately introduces the area of research and describes the purpose of the research in terms of its relationship to the topic and what it contributes to the training literature. Minor details are missing. Basic - Somewhat introduces the area of research and describes the purpose of the research in terms of its relationship to the topic and what it contributes to the training literature. Relevant details are missing or inaccurate. Below Expectations - Attempts to introduce the area of research and describes the purpose of the research in terms of its relationship to the topic and what it contributes to the training literature; however, significant details are missing and/or inaccurate. Non-Performance - The introduction to the area of research and description of the purpose of the research in terms of its relationship to the topic and what it contributes to the training literature are either nonexistent or lack the components described in the assignment instructions. Provides a Brief Historical View of the Organization,Assesses the Company’s Current Challenges That Includes an Examination of Other Organizations With Similar Situations, Explores Theories and Strategies That Could Address the Situation, and Identifies Any Areas that May Have Not Been Addressed In the Literature Used For Review Total: 6.00 Distinguished - Accurately provides a brief historical view of the organization, comprehensively assesses the company’s current challenges that includes an examination of other organizations with similar situations, including the strategies used to address their issues, thoroughly explores theories and strategies that could address the situation, and identifies any areas that may have not been addressed in the literature used for review. Proficient - Accurately provides a brief historical view of the organization, assesses the company’s current challenges that includes an examination of other organizations with similar situations, including the strategies used to address their issues, explores theories and strategies that could address the situation, and identifies any areas that may have not been addressed in the literature used for review. Minor details are missing. Basic - Provides a brief historical view of the organization, partially assesses the company’s current challenges that includes an examination of other organizations with similar situations, including the strategies used to address their issues, somewhat explores theories and strategies that could address the situation, and identifies any areas that may have not been addressed in the literature used for review. Relevant details are missing or inaccurate. Below Expectations - Attempts to provide a brief historical view of the organization, assesses the company’s current challenges that includes an examination of other organizations with similar situations, including the strategies used to address their issues, explore theories and strategies that could address the situation, and identify any areas that may have not been addressed in the literature used for review; however, significant details are missing and/or inaccurate. Non-Performance - The brief historical view of the organization, a the company’s current challenges that includes an examination of other organizations with similar situations, exploration of theories and strategies that could address the situation, and identification of any areas that may have not been addressed in the literature used for review are either nonexistent or lack the components described in the assignment instructions. Assesses and Organizes the Implications of the Literature In a Manner That Logically Builds the Case For the Recommendations, References the Literature for Each Implication, and Indicates Whether the Implication Has Already Been Made Or its Original Total: 6.00 Distinguished - Accurately and comprehensively assesses and organizesthe implications of the literature in a manner that logically builds the case for the recommendations,references the literature for each implication, and indicates whether the implication is one that has already been made or if this is one that is original. Proficient - Accurately assesses and organizes the implications of the literature in a manner that logically builds the case for the recommendations, references the literature for each implication, and indicates whether the implication is one that has already been made or if this is one that is original. Minor details are missing. Basic - Partially assesses and organizes the implications of the literature in a manner that logically builds the case for the recommendations, references the literature for each implication, and somewhat indicates whether the implication is one that has already been made or if this is one that is original. Relevant details are missing or inaccurate. Below Expectations - Attempts to assess and organize the implications of the literature in a manner that logically builds the case for the recommendation, references the literature for each implication, and indicate whether the implication is one that has already been made or if this is one that is original; however, significant details are missing and/or inaccurate. Non-Performance - The assessment of the implications of the literature in a manner that logically builds the case for the recommendations, references of the literature, and indication of whether the implication is one that has already been made or if this is one that is original are either nonexistent or lack the components described in the assignment instructions. Recommends a Comprehensive Solution to the Problem That Ties All Pieces Together and Are Organized In a Logical Order That Synthesizes the Major Points Relative to the Purpose of the Paper to Ensure Recommendations are Justified and Have Credible Support While Inspiring the Audience to Think About the Practical Application of the Topic Total: 6.00 Distinguished - Accurately recommends a comprehensive solution to the problem that effectively ties all the pieces together and are organized in a logical order that synthesizes the major points relative to the purpose of the paper to ensure that the recommendations are justified and have credible support, while inspiring the audience to think about the practical application of the topic. Proficient - Accurately recommends a comprehensive solution to the problem that ties all the pieces together and are organized in a logical order that synthesizes the major points relative to the purpose of the paper to ensure that the recommendations are justified and have credible support, while inspiring the audience to think about the practical application of the topic. Minor details are missing. Basic - Partially recommends a comprehensive solution to the problem that somewhat ties all the pieces together and are organized in a logical order that synthesizes the major points relative to the purpose of the paper to ensure that the recommendations are justified and have credible support, while inspiring the audience to think about the practical application of the topic. Relevant details are missing or inaccurate. Below Expectations - Attempts to recommend a comprehensive solution to the problem that ties all the pieces together and are organized in a logical order that synthesizes the major points relative to the purpose of the paper to ensure that the recommendations are justified and have credible support, while inspiring the audience to think about the practical application of the topic; however, significant details are missing and/or inaccurate. Non-Performance - The recommendation of a comprehensive solution to the problem that ties all the pieces together and are organized in a logical order that synthesizes the major points relative to the purpose of the paper to ensure that the recommendations are justified and have credible support, while inspiring the audience to think about the practical application of the topic is either nonexistent or lacks the components described in the assignment instructions. Summarizes the Paper and Explains How the Thesis Statement Was Addressed Total: 3.00 Distinguished - Accurately and comprehensively summarizes the paper and effectively explains how the the thesis statement was addressed. Proficient - Accurately summarizes the paper and explains how the thesis statement was addressed. Minor details are missing. Basic - Partially summarizes the paper and somewhat explains the thesis statement was addressed. Relevant details are missing or inaccurate. Below Expectations - Attempts to summarize thepaper and explain how the thesis statement was addressed; however, significant details are missing and/or inaccurate. Non-Performance - The conclusion of the paper and explanation of how how the thesis statement was addressed are either nonexistent or lack the components described in the assignment instructions. Written Communication: Control of Syntax and Mechanics Total: 0.75 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: 0.75 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: 0.75 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: 0.75 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. Powered by ...
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Tutor Answer

Professor_Rey
School: Carnegie Mellon 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 compensation strategy focuses on each job where grades
determine the salary that every individual gets after every month. The set salary band for each
position guides the employer and employee while signing agreement papers concerning the
monthly compensation package. The company’s HR department performs performance appraisal

COMPENSATION PHILOSOPHY OF MAERSK

3

every year, which it uses to determine whether workers deserve yearly increments (Maersk,
2019). Indeed, the firm’s compensation package also includes individual rewards based on their
performance levels throughout the year.
Firms adopt different ways regarding compensation philosophy due to issues, such as
financial situation, organizational culture, and industrial activities. However, Maersk boasts of a
long period of success and currently does not experience economic challenges (Maersk, 2019).
The firm’s organizational culture regards employees as its most crucial asset since they play a
vital role in ensuring that the organization meets the needs of its customers. Although Maersk
compensates its workers based on job grades, the management should improve the compensation
packages as a way of encouraging and motivating them. The company boasts of international
success since it serves more than a hundred countries, which necessitates changes to the
employee compensation packages to meet the current organizational and workers’ needs (). The
management team should adopt an improved compensation philosophy that reflects changes in
the corporate sector.
Factors within the Internal and External Environment
Maersk boasts of an international market base where it offers its services on a global
scale. Internal factors determine the compensation philosophy that firms adopt, which include
productivity of the employees, financial capability, and individual perception of wages
(Disanferdinand, 2018). While recruiting, firms such as Maersk consider the person’s ability to
deliver based on the mission and vision statements of the organization. Additionally, the
individuals should possess prerequisite skills that reflect the firm’s determination to offer highquality services to its customers. Individual perception of workers concerning the level of pay
determines the compensation philosophy that an organization can adopt (Maersk, 2019). As a

COMPENSATION PHILOSOPHY OF MAERSK

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result, due to the size of Maersk as a company, employees expect higher compensation packages
as compared to other firms in the industry.
Maersk’s mission and vision statements focus on connecting global trade through
shipping expertise that links customers to a range of critical markets around the world. Based on
the company’s set objectives and its size as a global brand, employees expect a desirable
compensation package (Disanferdinand, 2018). Maersk’s culture involves ensuring that workers
receive competitive wages that reflect their input and market requirements. In addition, the
firm’s financial muscle provides room for the development of a desirable compensation
philosophy that can spark stiff competition among potential employees. External factors,
including supply and demand aspects, government legislation, the influence of labor unions, and
cost of living affect decisions concerning the compensation philosophy that a firm wishes to
adopt (Mullins & Schoar, 2016). The final decision concerning the compensation issue should
ensure that the company can pay its employees based on its financi...

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Anonymous
Tutor went the extra mile to help me with this essay. Citations were a bit shaky but I appreciated how well he handled APA styles and how ok he was to change them even though I didnt specify. Got a B+ which is believable and acceptable.

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