Human Resources Management – Compensation and Benefits

Human Resources Management – Compensation and Benefits

Explain with examples the “total returns” people receive from work.
Compensation for many people is an inherently personal and emotional issue. Express your opinion and give an example of how “taking compensation personally,” can play-out on the job.
Explain the key elements of The Pay Model and how it can be used to develop an organization’s pay strategy.
Can pay systems be effectively tailored to support differing business strategies? Explain your answer and give an example.

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Solution Preview

1. There are various total returns that employees may receive from their employer or work apart from the basic salary which they get after working. One of these benefits is recognition. This means recognizing or acknowledging a person before their peers for a particular accomplishment, action taken or an attitude exemplified through their behavior. For example, an employee may be recognized for being the best merchandisers. Another total return employees get is being in challenging positions. This makes them work add, increase their skills, exposure and attain higher rankings.

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