UNIT 1 Deadline as Apr 6
Question 1 Son, Ha, MA
__________ compensation is the psychological mindset of performing a job. Son
Answer
| | Extrinsic | | | Intrinsic | | | Base pay | | | Discretionary |
Question 2
Which of the following stakeholders requires that companies comply with all employment legislation? Son
Answer
| | Employees | | | Line managers | | | Executives | | | U. S. Government |
Question 3
COLA (Cost of Living adjustments): Ha
Answer
| | are tied to changes in the price of consumer goods. | | | are part of seniority pay systems. | | | reward employees based upon the achievement of individual goals. | | | are offered as a type of merit pay. |
Question 4
__________ is the term used to describe both the monetary and nonmonetary rewards an employee receives. Ha
Answer
| | Extrinsic compensation | | | Salary | | | Discretionary benefits | | | Strategic compensation | | | |
Question 5
__________ focuses on gaining competitive advantage by being the lowest-cost producer of a good or service within the market place. MA
Answer
| | Differentiation strategy | | | Cost leadership strategy | | | Competitive strategy | | | Core compensation |
Question 6

List and explain the five different stakeholders of a company’s compensation system. Son
There are five different stakeholders of a company compensation system and the human resource department provides them within and outside the companies. They are as follow: Employees, line managers, executives, unions, and US government.
Stakeholders is performance-based compensation that focuses everyone in an organization on long-term while providing unlimited compensation opportunities for those who make it happen. This will create a strategic planning and compensation in an organization.
Employees, are an important part of any organization or company. The company has the capability to change and implement a systematic training program. Compensation professionals must instruct employees about their training choices and how successful training will lead them to increase their pay and development for promotion and more opportunities to do so.
Line managers, compensation professionals use their expert knowledge of the laws that influence pay and benefits practices to help line managers make sound compensation judg ment. They will ensure that there won’t be any discrimination of gender and that both gender will be entitle to similar pay, it will depend the position they are in.
Executives, are professionals when it comes to the employee compensation by evolving and handling complete compensation systems. The executives look at these requirements that these entitlement are met with all compliances are appropriate within the legislation. If not done appropriately and they dishonored the fines are very substantial to the employers.
Unions, is a collective bargaining on terms of employment and reached between employer and employee and it will be managed by the union. Compensation professional are the ones responsible for their pay and benefit and it will be clearly stated in the agreement contract.
U.S. Government requires that companies comply with all employment legislation. Compensation professionals apply their expertise regarding pertinent legislation to design legally sound pay and benefits practices.
Question 7 Son, Ha
Why is strategic compensation important for the long-term success of a company? Provide detailed steps that company should take to create a long-term strategic compensation plan. Son * Lowest-cost strategy * Efficient-scale, cost minimization * Southwest Airlines, Wal-Mart * Employee roles: repetitive, predictable behaviors, short-term focus, individual activity, concern for quantity, primary concern for results. * Differentiation Strategy * Unique products: design image, technology, etc * Build brand loyalty, price premium, invest in R&D * Iams company, Saks Fifth Avenue * Employee roles: creative behavior, long-term focus, cooperative and interdependent behavior, risk taking, openness to novel work.

Question 8 List and explain the differences between discretionary and legally required (mandated) benefits. Why do companies need to provide both to employees? Ha

Question 9

List and describe the seven types of monetary compensation. MA

UNIT 2 Apr 13
Question 1
Son, MA
Choose one Executive Order from Chapter 2, and create a realistic scenario that explains the protections it provides. Make sure you include specifically who is covered by the order and what action is prohibited. Son Question 2
Son, Ha
You are the Total Rewards Director for your organization. Over the past few years employees have been leaving to work for competitors. The CEO has expressed that she wants to conduct an organization wide review of the company’s current compensation strategy. The company now uses a seniority pay rewards system. The CEO wants to know if they should change to a merit pay strategy in order to make the company more competitive.

Prepare a memo to the CEO outlining your recommendation as to whether or not the company should continue to use the seniority pay system or change to a merit pay system. Be specific as to what model would be the best option for your company, and why. Include pros and cons of your options and conclude with your recommendation. The company is not unionized and is privately held. You do not have to factor in a collective bargaining agreement. Ha
Question 3
Choose three external compensation forces and explain their influence on the design and execution of an organization’s compensation strategy. Your answer should be at least 200 words, and include APA formatted references. MA
Question 4

What actions can an organization take to link employee performance measurement to identified business goals? Describe specific steps, and how they connect pay for performance. MA

Unit III Apr 20

Question 1

Identify and explain the five key factors employers should consider when designing an incentive pay plan. Why are they an important consideration of the process? Do you need all five to be successful? Son

Question 2
Son, MA
Employers can use a variety of individual incentive programs to contribute to their compensation strategy. Which of the four types of individual incentive plans would you prefer? Explain your choice. What are the advantages and disadvantages of the individual incentive programs? Do you prefer an individual incentive program or a group incentive program? Explain your choice. MA
Question 3

Explain what constitutes person-focused pay and the advantages and disadvantages for employees of these types of programs. How do these programs vary from merit based programs?
Question 4

Why do companies adopt person-focused pay programs? What are the four models of person-focused pay programs? Ha
UNIT IV Apr 27
Question 1

Why is it important to design internally consistent compensation systems? Explain how the job analysis process is used to create a compensation system. Ha

Question 2

You are the compensation manager for a startup internet company. The CEO wants to know what the best pay level policy is for this organization. Prepare a memo to the CEO explaining the three options the company can choose from and what your recommendation is, and why. MA

Question 3

What is job evaluation, and how is it used by compensation professionals? Discuss the various techniques used in job evaluation.

Question 4 Son, Ha

You are the compensation manager for a local Internet training company. Your CEO would like you to determine how well the salaries he pays his instructional designers measure up to other companies in the same field. Outline the steps you would take to determine this and compose a memo to your CEO showing your results. Also, make recommendations to your CEO concerning the pay rates based on the information you gathered from your research. Son

UNIT V May 4
Question 1
Son, Ha
Outline the differences that exist among the various types of retirement programs available. Which retirement program, in your opinion, provides the most benefit to employees? Explain your choice. Ha
Question 2
You are the compensation manager for a manufacturing company of about 200 employees. You are responsible for the company’s healthcare budget. The company has been spending an increasing amount of money on health insurance every year with no relief in sight. Currently, the company offers one plan, a traditional HMO that employees contribute to every pay day. The CEO wants to know what options are available to decrease the rising costs without sacrificing employee coverage. She does not want to offer less coverage, just pay less for the same thing or better. In a memo to the CEO, briefly summarize some of the options that the company should explore to contain its costs. You will need to clearly explain each option; however, you do not have to provide any calculations as this is just a starting point to examine all potential plans and options to lower and contain costs. MA
Question 3

Briefly summarize the different types of Medicare insurance programs. What coverage is available? Who is eligible? What, if any, is mandatory coverage? Son

Question 4

Briefly summarize the different types of income protection programs an employer can offer. Indicate which are mandated (if any) and which are voluntary. Ha

UNIT VI May 11
Question 1
Identify and explain the two types of executive in a company and how they differ from regular employees. Son
Question 2
What types of bonuses and short-term incentives are common in executive compensation? Provide a detailed explanation for each. Son

Question 3
What are the particular forms of deferred compensation? Provide a detailed explanation of each. Ha
Question 4
Identify and explain the disclosure requirements for executive compensation as established by the Securities and Exchange Commission (SEC). Using an Internet search engine, look up an executive compensation disclosure report for a company of your choice and provide a link to that information into the response box. Indicate the specific dollar amount for each SEC required category. Make sure you identify and explain any descriptions under other compensation. MA

UNIT VII May 18
Question 1

What similarities and differences exist regarding how a contingent worker is compensated? Discuss how the economic reality test and the right to control tests are used to determine whether a person is an employee or an independent worker. Ha
Question 2
Son, Ha
Why do unions typically disagree with companies using contingent workers? Although companies rely on contingent workers, is it always cheaper to employ contingent workers instead of regular employees? Why, or why not? Son
Question 3
Son, MA
Describe the various types of flexible work schedules. Would you prefer working one of these schedules or would you prefer a regular schedule? Explain your answer. MA
Question 4

Identify and explain the different types of contingent workers. Why might a company choose a contingent worker over a regular full time employee? MA