Discussion 1 and Discussion 2

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zyjevtug88

Business Finance

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Discussion 1

According to our text, “A compensation survey is a tool used to determine the typical incentives that are provided to employees across a specific job, industry, geographic regions, etc. Data is collected from multiple employers and is analyzed to develop an understanding of the overall amount of compensation paid.” (Weathington, 2016, section 5.3, para. 1).

Guided Response: Create a compensation survey for the job description you created in week 2. What did you learn about the salary range, competitive market, skills, experience, and occupational field?

Job Description was Health Care Administration

Discussion 2

Reflect on what you have learned about the different generations in the workplace (Chapter 6). How is the modern workforce different from that of the past? What should employers consider about compensation and benefits for successful recruitment of talented Gen Xers and millennials? What do millennials need to consider to get the compensation and benefits package they want?

Guided Response: Use at least two sources in addition to the course text.

Here is the book:

Weathington, B. L. & Weathington, J. G. (2016).Compensation and benefits: Aligning rewards with strategy

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Explanation & Answer

Attached.

Running head: DISCUSSIONS 1 &2

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DISCUSSIONS 1 &2
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DISCUSSIONS 1 &2

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Discussion 1-A Compensation Survey for Health Care Administration
Compensation surveys are tools which are used in determining the average compensation
that is paid to employees within a certain job position (Weathington & Weathington, 2016). The
data is usually obtained from various employers, after which it is analyzed with the objective of
developing an understanding about the total amount of compensation offered. Some of the
compensation survey questions include:


Does your organization make use of a predetermined salary grade system?



How often does the organization review the salary structure?



Does the organization offer a general increase?



Does the firm offer a salary raise as per the increasing cost of living?



How frequent are employees reviewed?



Is sal...


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