BHR3352 Columbia Southern Compensation Purpose and Strategy Document

BHR3352 Human Resource Management

Columbia Southern University

Question Description

Strike Force is a Company that gives baseball and softball lessons. Hitting, pitching, and as well as conditioning for both sports.

Compensation Purpose and Strategy Document The purpose of this assignment is to choose a compensation philosophy that is appropriate for your chosen firm and articulate a rationale for this selection. There are two aspects to this assignment. First, describe the risks and benefits with leading, meeting, and lagging the market in overall compensation and benefits. Next, choose the appropriate strategy (lead, meet, or lag) for your firm, and provide rationale about why this is appropriate. There is a minimum requirement of 500 words for the compensation purpose and strategy document. Consider some of the following factors in your assignment: 1. Payroll expenses are usually the highest expense at most firms. If you lead the market, this expense can be taxing. 2. If you are pursuing top talent in human capital rich industries (e.g., software engineering), lagging the market may keep you from competing for market share against your competitors. 3. If you meet the market, paying average will generally not attract top talent, and in addition, you will not have the labor-cost savings of a lag-the-market strategy. Any sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations in APA format.

Final Answer



Compensation Philosophy
Institutional Affiliation




The compensation and rewards program is a technique utilized to attract, retain, and
inspire the workforce effectively. Typically, the program leads to justifiable payments for the
performance of a service, in exchange for the task of an employee. Companies must consider
several elements when creating a compensation and rewards program. These elements are equity,
compensation philosophy, and compensation components. An organization’s compensation
philosophy guides the development and complexity of the compensation programs by defining
the objectives of the company as well as the competitiveness of the strategy is attracting and
retaining top talents. This paper will address the compensation philosophy that is appropriate for
Strike Force (Bratton, Gold, 2017).
Risks and Benefits of a Lead, Match, or Lag in Compensation and Benefits
When creating...

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