Assume you are leading a team of consultants hired by MPBS to help develop their total compensation plan. MPBS wants to implement a compensation plan to support their business strategy. Your team has completed the preliminary review of the organization, including discussions with management, and compiled initial information about MPBS. That information is detailed in the team report.
MPBS views their mission statement as the driver behind the alignment of policies, purposes and objectives of all operating units in the entire organization. Your first task is to help the human resources department create compensation mission statement as the first step in designing their compensation plan. You are to consider the various factors affecting mission statements and objectives and then:
- Recommend a specific compensation mission statement and the specific objectives of the MPBS compensation system that aligns the compensation plan to the company's mission and strategy. Provide a rationale to support your mission statement and objectives.