Assignment task: In this assignment, you will be assessed based on the following Outcomes:
- Contrast methods for developing a total compensation strategy.
- Understand competitiveness and collaboration in a global economy.
Choose an organization in which you are interested, and from which you can obtain the information required in this assignment below. You may want to choose a past or current employer, or you may choose any other organization that interests you. You may choose the same or a different organization from the previous unit. Research the organization through the company website as well as related articles available in the library, and answer the following questions in a 2-3-page paper
Checklist:
1. Describe your interest in this organization. Explain why you chose that particular organization.
2. Contrast at least two methods for developing a total compensation strategy, including objectives, internal alignment, external competitiveness, and management (see examples in Exhibit 2.1)
3. Choose one of the compensation strategies above and summarize the key points of your organization's strategy.
4. Explain how collaboration with other like-minded companies might benefit this organization in terms of developing a total compensation plan.
5. Explain the value that you believe this organization may gain from possible compensation plans.
6. Discuss how compensation could be a source of competitive advantage for this organization in the global context regarding (1) hiring, and (2) financial success.