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MGT 2388 Create a Checklist to Inventory Compensation Fit Study Notes

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MGT2388 Compensation Management
Assignment 1
Create a Checklist to Inventory Compensation Fit
By Hillary Nelson
February 4
th
, 2019

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Table of Contents
Rationale ...........................................................................................................................................3
Compensation Inventory Checklist ......................................................................................................5
Summary ...........................................................................................................................................5
Works Cited .......................................................................................................................................7

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MGT2388 – Compensation Management Assignment 1 Create a Checklist to Inventory Compensation Fit By Hillary Nelson February 4th, 2019 Table of Contents Rationale ...........................................................................................................................................3 Compensation Inventory Checklist ......................................................................................................5 Summary ...........................................................................................................................................5 Works Cited .......................................................................................................................................7 Rationale The company must change their compensation system with the nature of their workforce in mind. (Algonquin College , 2019) In this case, there are many employees who have been working for the company for many years and will soon be aging out into retirement. It would be ideal that the company focuses on retirement packages and benefits for aging employees as well as considers providing incentives in the form of compensation for employees who have worked so long at the company that their health or well-being are affected. (Kalra, 2017) For example, working at a tool manufacturing company such as the one in the case scenario may take its toll on the physical bodies of some workers from hard labour. (Kalra, 2017) It would be ideal to change ...
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