Compensation Evaluation

Anonymous

Question Description

You were hired to work as a HR Consultant for a small local hospital, with the task of expanding the workforce of certified medical assistants. Looking at the current three employees, you find a discrepancy in compensation between Susi, a 2-year employee at $28,000, Tom, 5-year employee at $27,000, and Raul, a 10-year employee at $33,000. All are employed as certified medical assistants, yet they all make different amounts of money. According to survey data, all three employees are below the market rate for this job in the local job market. All three employees are also exemplary employees with near perfect scores in their most recent performance evaluation.

Write a 700- to 1,050-word paper that includes the following:

  • Explain the discrepancy in pay among the current employees.
  • Describe the strategy you would take to correct the internal equity issue.
  • Describe the strategy you would take to correct the external equity issue.
  • Explain how you will ensure that new hires will be paid equitably both internally and externally.
  • Explain how an organization's Total Compensation strategy affects an organization's financial operations and its ability to attract, motivate, and retain top talent.

Cite all sources according to APA formatting guidelines.

Tutor Answer

SIMPLIFIED
School: UC Berkeley

Attached.

OUTLINE

1. INTRODUCTION
2. BODY
3. CONCLUSION
4. REFERENCE


RUNNING HEAD: BUSINESS MANAGEMENT

1

COMPENSATION EVALUATION
NAME
INSTRUCTOR
COURSE TITLE
DATE

BUSINESS MANAGEMENT

2

Compensation Evaluation
Introduction
Remunerating employees appropriately is very significant in enhancing quality, retention,
and motivation. Company loyalty is driven by issues concerning pay; if it is appealing and
satisfactory, then the level of commitment on the side of employees will be of standard.
Retention of potential employees that steer the company right is easy through providing wage
pay that is commensurate to their level professionalism. Employers take with grave concern
complaints that revolve around employee pay, more especially if the party in question is
performing well. The compensation evaluation process is essential in making sure that pay
grievances are settled amicably, employers who assume such issues run the risk of losing their
best participants in the game (Daryanto, 2016).
The discrepancies in the pay
The current employees’ discrepancy could be as a result of many issues that stem from
either the staffs' inadequacy or the employers' incompetence. Negotiation is a major indicator in
determining what an employee will...

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