Ashford University Human Resource Management Approach Discussion

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crccre1213

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ashford university

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Martocchio, J.J. (2017). Strategic compensation: A human resource management approach (9th ed.). Retrieved from https://content.ashford.edu

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Required Source: Martocchio, J.J. (2017). Strategic compensation: A human resource management approach (9th ed.). Retrieved from https://content.ashford.edu Discussion 1: Define the concept of seniority and merit pay plans, including the strengths and limitations of such plans within an organization. Discuss the job, organizational and/or other factors that should be considered when deciding between the two. Discussion 2: Discuss how incentive pay plans – both individual and group – motivate employees to achieve high levels of performance. Identify potential weaknesses of these plans and suggest steps that can be taken to make these plans highly effective. Then, choose one industry that either an individual or group incentive pay plan would work best providing support for your reasoning (using personal examples to illustrate your point if possible). Explain your answer. Discussion 3: Discuss the basic building blocks of developing a market competitive pay system, including the relationship between internal and external equity. Discussion 4: Provide a brief overview of the job evaluation process, including the importance of compensable factors. Detail the compensable factors of a position you are familiar with and their impact on that position’s salary, and you may want to reference the job analysis and job description process, which form the foundation of job evaluation. Identify at least four pitfalls that exist for organizations that do not follow this process. Discussion 5: Read the article "Be Healthy and Get Rewarded--Incentives Driving Engagement in Health and Wellness (Links to an external site.)." Taking into consideration some of the significant changes to health insurance policies, please review the article and address the following two questions. Explain your answers in at least 200 words. • • As described in the article, what options do patients with preexisting health conditions have in regards to wellness initiative compliance? Are the new health plans truly helping consumers to live a better and healthier lifestyle or are they actually hindering consumers ability to freely pursue getting proper treatment, if needed, due to the fear of high deductible costs? Nosta, J. (2014, April 9). Be healthy and get rewarded--incentives driving engagement in health and wellness (Links to an external site.). Forbes. Retrieved from http://www.forbes.com/sites/johnnosta/2014/04/09/be-healthy-and-get-rewarded-incentivesdriving-engagement-in-health-and-wellness/ Discussion 6: Discuss the Family and Medical Leave Act of 1993 and the Patient Protection and Affordable Care Act of 2010. What are the most prominent elements to understanding these two acts? How do they impact the employee and the organization? Discussion 7: Contrast the principle difference between executive pay and non-executive pay, including a discussion on controversies associated with the growing disparity between executive and non-executive compensation packages. Discussion 8: Contingent workers are assuming a greater role in today's organization. With that as a background, discuss compensation and benefit issues associated with the following workers: part-time, temporary, independent workers, and flexible/telecommuting. What impact may these changes have on an organization’s compensation plan? Discussion 9: Evaluate the following methods for establishing base pay in international assignments: home country-based pay, headquarters-based pay, and host country-based pay. Include within your discussion the strengths and weaknesses of each method and factors that should be considered when determining the appropriate international pay strategy. How should organizations balance host-country income tax differentials? How do compensation plans affect employees’ willingness to accept foreign assignments? Discussion 10: Select one country whose pay and benefits practices are discussed in chapter 15 and compare them to pay and benefits practices used in the United States. Include in your discussion how these practices are similar and how they are different.
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Tags: compensation plan seniority and merit pay plans Eliminate favoritism employees incentive for innovation and hard work benefits to long serving employees

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Discussion 3
Competitive pays are systems developed by human resource departments of businesses to
attract and keep qualified talents within the institution. The company should use the four-stepped
building blocks of a competitive pay system to be able to put less pressure on the business and
maintain highly qualified employees (Chang & Zhang, 2018). These steps begin from conducting
strategic analysis, assessing pay prices of competitors, then integrating internal structures of jobs
with external payment systems, and then determine policies of compensation.
Companies first conduct strategic analysis to examine internal and external business
environments. Internal factors include the company's financial positions, practical capacities,
while external factors involve information gathered from competitors and long development
prospects. The second step consists of the assessment of competitors' pay prices to develop a
clear view of how the market operates. Competitors' pay prices are critical for the business to
avoid under and overpayment of employees at various positions. All data collected from the
competitor are crucial and will be used in line with the organizations' mission and objectives.
The business then integrates internal structures of job’s pay policies to manage the costs of
attracting and retaining highly talented employees. It is a factual strategy that reflects on both the
company’s internal and competitor’s external market employee valuations. Finally, the business
develops compensation policies. While formulating company policies, businesses use three
factors, including; market lead, lag, and market match. Market leads are scenarios that
companies compensate employees higher than the average market price, while lag is the
opposite. Alternatively, a business could use market-matched policies that emulate the external
market's employee compensation policies.

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External equity, also known as matching strategy, is payment strategies that an
organization uses and matches with foreign market rates. The relationship between external to
internal equity is visible in businesses whereby the internal effects of compensation data have
substantial external effects. Employers' payment systems balance their internal resources to
attract and motivate enough employees that other businesses cannot poach them.
Discussion 4
The process of job evaluation within institutions differ. Despite the disparity in the
processes, job evaluation primarily assesses the relative value of a job within an organization and
compares it with others within and outside the job market. It categorically compares positions to
assess its corresponding value to rationalize pay structure.
Job evaluation processes begin with an explanation of the purpose of the program to the
employees to secure their acceptance (Kahya, 2018). A group of experienced employees and
union representatives then forms a committee that decides on the job group to be evaluated. The
committee then analyses and prepares a job description and selects the most suitable method of
evaluation. Mainly, job evaluation classifies jobs based on monetary value. The process ends
with feedback collection from the employees.
Within an institution, compensable factors are defined based on the organizations' goals
and objectives. It is a criterion for evaluating jobs in the company based on which wages and
salaries are determined. Compensable factors are an essential inaccurate selection of employees.
Other significance of compensable factors includes boosting morale, encouraging employee's
goodwill and provides the management with a base of proper control.

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