Discuss the following:
Overview of Compensation and Strategic Perspectives of Compenstation
1. Compensation Definitions and Systems
What is your definition of compensation? How do perspectives on compensation differ? What forms of pay are used in your organization?
(Graded)
2. Look at the compensation strategies of Google, Medtronic, and Merrill Lynch
a. Discuss the companies’ compensation strategies and see whether there is a fit between organization and strategy
b. Are the business conditions, customers served, and employee skills the same for each? If not, how are they different?
c. What are the compensation strategies used by your organization?