Compensation Questions

timer Asked: Feb 23rd, 2015

Question description

1. What are the differences between merit pay and incentives? Why might an organization choose one or the other?

2. Describe the process of formulating a compensation strategy.  What role does compensation strategy play in the effective management of a compensation program? 

3. Identify and briefly describe how external factors can influence the design of internal pay structures

4. Identify and describe the different perspectives of job evaluation.

5. Describe the role of job evaluation in establishing an internally aligned pay structure.

6. Based on the research discussed in the textbook, in what circumstances would you recommend a skill-based approach? A competency-based approach?

7. When designing a pay-for-performance plan, what three things should it depend on?  Why?  Please explain and discuss your answer. 

8. How does a pay structure combine external competitiveness and internal alignment?

9. Identify the two types of discrimination that have been legally defined. Discuss the key issues related to these legal definitions of discrimination.

10. Compare and contrast the arguments associated with the “best fit” and “best practices” concepts as they relate to compensation.

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