Strategic Compensation

Instructions

1.Document your answers on the space provided in this document (starting on page 3). Your answers can be in bullet form and each answer should be no more than 500 words.  Bullet form means complete sentences.

2.You are not required to include a title page, formal references, or use APA formatting. However, you are required to include the page numbers you used from the textbook to answer your questions and demonstrate application of course content.

3.Although you are not required to use APA formatting, you are still required to proofread your document for spelling and punctuation errors, and to demonstrate your ability to write at a university level. Please review the Marking Rubric on page 2 for more details of how your assignment will be assessed.

4.When the word “briefly” is used in the assignment questions, this means a minimum of 3 bullet points and/or sentences and a maximum of 5-6 bullet points and/or sentences.

5.To access the textbook – use the link and create a dummy account https://app.tophat.com/e/791964/lecture/

Use University of Lethbridge as the school- please reference page number on your answers.

Question 1 (related to Learning Outcome a). Your answer should be no more than 500 words and include specific page numbers you used from the course textbook to support your answer.

Briefly discuss the concept of fit, and the types of compensation and total rewards that work best for each of the three managerial strategies.

Question 2 (related to Learning Outcome b & c). Your answer should be no more than 500 words and include specific page numbers you used from the course textbook to support your answer.

Read two cases in Chapter 3: Compensation Today 3.1 – Rewards Support Strategy at Toyota and Compensation Today 3.2 – Violating the Psychological Contract at CAMI. Both companies attempted to adopt a high-involvement managerial strategy but only one company was successful in doing so.

Using the concepts of reward problems, job attitudes, and behaviors, briefly discuss and explain why one company was successful in adopting a high-involvement managerial strategy and why the other was not.

Question 3 (related to Learning Outcome c & d). Your answer should be no more than 500 words and include specific page numbers you used from the course textbook to support your answer.

During class, we discussed the case “Fun and Games at the Exhibition” in Chapter 5 of your textbook.  Using this case from your textbook, briefly discuss how performance pay (individual, group, and/or organization) could be used to solve the employee performance and behavior problems outlined in the case.

Question 4 (related to Learning Outcome b & d). Your answer should be no more than 500 words and include specific page numbers you used from the course textbook to support your answer.

Briefly discuss and explain the five steps in the compensation strategy formulation process (chapter 6). Also apply and briefly describe what each of the five steps would look like when applied to a classical managerial strategy.

Question 5 (related to Learning Outcome e & f & g). Your answer should be no more than 500 words and include specific page numbers you used from the course textbook to support your answer.

Briefly explain the point method of job evaluation and the main steps to conducting this form of evaluation. Also explain one method you can use to measure if your point method of job evaluation is compliant with pay equity.

Question 6 (related to Learning Outcome e). Your answer should be no more than 500 words and include specific page numbers you used from the course textbook to support your answer.

Briefly discuss and explain how organizations can use the market and individual performance to determine what employees should be paid.

Question 7 (related to Learning Outcome f). Your answer should be no more than 500 words and include specific page numbers you used from the course textbook to support your answer.