Compensation and Benefits

Answer each question. Make sure the questions are numbered and the question is written out in your final copy. Questions 7-1. You are a compensation analyst for a pharmaceuticals company, which is located in Los Angeles, California. Define the scope of the relevant labor markets for chemists and for data entry clerks. Describe the rationale for your definitions 7-2 Can Companies easily develop compensation that is both internally consistent and market competitive? What are some challenges to this goal? 7-3 Which do you believe is most important for a company’s competitive advantage: internal consistency or market competitiveness? Explain you answer. 7-4. Refer to the regression equation presented earlier in this chapter. When b = 0, the market pay line is parallel to the x-axis (i.e., job evaluation point scale). Provide your interpretation. 7-5. Refer to Table 7-3. Cross out salaries for Company F and Company G. Calculate the mean and median for the set of Companies A through E. 8-1. Respond to the following statement: “Pay grades limit a company’s ability to achieve competitive advantage.” Do you agree? Provide a rationale for your position. 8-2. Two employees peform the same job, and each received exemplary performance ratings. Is it fair to give one employee a smaller percentage merit increase because his pay falls within the 3rd Quartile but give a larger percentage merit increase to the other because his pay falls within the 1st quartile? Please explain your answer. 8-3. Describe some ethical dilemmas sales professionals may encounter. How can sales compensation programs be modified to minimize ethical dilemmas? 8-4. React to the statement: “Merit pay grids have the potential to undermine employee motivation.” Please discuss your views. 8-5. Compression represents a serious dysfunction of pay structures. Discuss some of the major ramifications of compression. Also, discuss how companies can minimize or avoid these ramifications. 9-1.Many compensation professionals are faced with making choices about which discretionary benefits to drop because funds are limited and the costs of these benefits continually increase. Which benefits would you most likely eliminate? Which would you least likely eliminate? Explain your rationale. 9-2.What are your beliefs about whether discretionary employee benefits should be an entitlement or something earned based on job performance? Explain. 9-3.Assume that you are an HRM professional whose responsibility is to develop a brochure for conveying the value of your company’s benefits program to potential employees. Your company has asked you to showcase the benefits program in a manner that will encourage recruits to join the company. Which features would you showcase to prospective and current employees? Explain. 9-4.Conduct some research to identify examples of innovative benefit practices. A useful starting point is an Internet search using phrases such as “best companies to work for.” What are some of the more innovative benefits practices that you found? Explain. 9-5.Are employees more likely to favor defined contribution plans over defined benefit plans? How about employers? Explain your answers.

My Homework Nest
Calculate your paper price
Pages (550 words)
Approximate price: -

Why Work with Us

Top Quality and Well-Researched Papers

We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.

Professional and Experienced Academic Writers

We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.

Free Unlimited Revisions

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.

Prompt Delivery and 100% Money-Back-Guarantee

All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.

Original & Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.

24/7 Customer Support

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Try it now!

Calculate the price of your order

Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.

Essays

Essay Writing Service

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.

Admissions

Admission Essays & Business Writing Help

An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.

Reviews

Editing Support

Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.

Reviews

Revision Support

If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.