Hi, I guess you completed the wrong assignment last week- that was my fault for not verifying. Please read the instructions and answer the following questions. The attachment has the reading, answer ONLY the questions pasted on this page. Instructions: Compose a 2 page paper that addresses the exercise posed in
“Still Your Turn – Managing Compensation Costs, Headcount, and
Participation/Communication Issue” beginning on page 669 of the Mikovich
text. APA formatting standards must be followed. A minimum of 3
scholarly resources from outside of class need to be used. Please don’t
plagiarized, also please refer to the below attachments for further
assistance. Thanks
1. What is the difference between these two sets of
companies? Is it simply that one set of companies care more about its
employees than the other set of companies? Or, is it also the case that
Southwest, Nucor, and Lincoln Electric have set up their compensation
strategies in a way that makes them more able (than Cisco, HP, American,
and GM) to cut labor costs when times are tough? (For more background,
go to google.com or another search engine and conduct a separate search
for each company using its name and the term “layoff.”) What about
protecting investment in employees and employee relations?
Here are some links for research:
http://www.star-telegram.com/2012/10/18/4347085/southwest-airlines-plans-to-cut.html (Links to an external site.)
http://www.jsonline.com/business/93960929.html (Links to an external site.)
http://www.cbsnews.com/8301-505123_162-57440354/hp-laying-off-27000-workers-in-restructuring/ (Links to an external site.)
http://www.foxbusiness.com/industries/2012/03/02/gm-to-temporarily-lay-off-1300/ (Links to an external site.)
2. What can an employer do to make labor costs flexible so
that profits do not take as much of a beating during difficult economic
times and so that fewer employees need to be laid off?
Here you want to think about how much of the pay design is base pay,
and how much is variable. Think of other ways labor costs are flexible…
3. If you were in charge of designing a compensation system
for a company that is fairly new, but is now reaching a stage and size
where it needs a formal compensation system, how would you design the
compensation system to have labor cost flexibility? To what degree would
you have others at the company participate in the design of the new
compensation system? Who would participate? Would you follow a policy of
pay openness in communicating your compensation system? Provide a
rationale for your decisions.
Keep in mind there are four questions within this one question…
Again, what type of variability in labor costs would you build into the pay structure?
To what degree would you have others at the company
participate in the design of the new compensation system? Who would
participate?
Here, think about whether the organization has more than one
location. Is there a centralized office that will handle the
compensation? OR will HR handle the compensation at each of their
offices…
Would you follow a policy of pay openness in communicating your compensation system? Provide a rationale for your decisions.
There is no one answer for this question. My general rule of thumb is
if there is not a degree of transparency, then the HR system may not
have enough structure, and may create feeling of distrust amongst
employees. Remember to support your rationale.
All papers you get at Proficientwriter.com are meant for research purposes only. The papers are not supposed to be submitted for academic credit.
