Your Week 2 Assignment is a 300-400 word essay on a topic covered in your readin

Question

Your Week 2 Assignment is a 300-400 word essay on a topic covered in your reading this week. Your essay should:

Have an introduction, body, and conclusion

Have a minimum of 2 sources (your text and at least 1 additional internet source)

Sources should be cited and referenced in APA style

Essay Topic:

Compensation data for numerous jobs are more available due to the existence of various websites. The website of www.salary.com provides pay data for numerous jobs in different companies in different industries in different cities throughout the U. S. This case challenges students to apply their understanding of the key concepts of internal alignment and external competitiveness to actual pay rates for specific jobs.

After examining the website, answer the following questions in your response:

1. Which jobs are paid more or less? Is this what you would have expected? Why or why not? What factors could explain the differences in the salaries?

2. Do the jobs have different bonuses as a percentage of their base salaries? What could explain these differences?

3. How could you use this information while negotiating your salary in your job after graduation? What data would you provide to support your "asking price?" What factors will influence whether or not you get what you ask for?

Explanation / Answer

Hi,

Thanks for the question.

There are three drives or factors for the better performance and the satisfaction.

The following motivation techniques can be achieved:

Answer 1)

There are two types of jobs - one that belongs to the people who have more physical work to do and another one is where the people are more managing the people. The management people generally paid higher.

Yes, I expected that only because management is the onewho is guiding the other employees as well and make a direction for the future growth of the company.

The nature of the work that is being done by the employess along with the industry is the defining factor of the varying salaries of the employees.

Answer 2)

Yes, the sales and marketing people get the more benefits and the bonus percentages. These differences can be explained by the fact that they are the people who will be bringing the revenue to the company and more people interation.

Answer 3)

Compensation plan is most important aspect of the human resource team in the organization. That basically decides how the company budget will be allocated. This also means how well employees will be paid and what will be the employee’s motivation after the compensation plan.

Key considerations:

Process to devise a compensation plan includes:

Companies follow different compensation strategies. That sometimes depend upon the nature of the job. If you are working on a high position job then the compensation plan is different and if you are in the company as an unskilled labor, your compensation plan will be different. You certainly won't be getting the same benefits as the other employee.

There are two types of strategies company follow. They are:

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