Assignment: People - Focused Compensation Training
Competency
Evaluate compensation systems offered by organizations to attract and motivate employees.
Scenario
You are the Training and Development Supervisor for a private, mid-sized company that researches and produces products for the cosmetics industry. An international cosmetics brand, Marylion, has recently bought your company, and most of the employees of your company will now work for the international firm. All of the scientists in the research and development department of your old company are being retained by the acquiring firm.In your old company, scientists were compensated based on their job titles and years of experience in the company. However, in their new roles, they will be compensated differently. Marylion has a different pay system for scientists in R&D than for other employees. Scientists are compensated using a person-focused pay model. Specifically, a stair-step model of competency-based pay is used.As the scientists in your old firm are not familiar with this new model of compensation, it has been decided that you, as the new Training and Development Manager for Marylion, should provide an onboarding training session. The training session is to help the scientists understand how their new compensation system will work. You have been asked to create a training agenda and outline of the training session to be reviewed by the HR manager prior to hosting the training.
Instructions
The training agenda should include each topic with key points and an area provided for note taking. The training outline should be formatted with bulleted points for each topic, speaker's notes, and include the amount of time needed to cover each topic. Prepare a training agenda for participants and a training outline for the presenter that:
1. Explains the concept of a people-focused pay model.
2. Compares a competency-based pay model to a job-based pay model.
3. Explains a stair-step model of compensation.
4. Analyzes the advantages of a people-focused pay model for scientists at Marylion.
5. Discusses the impact of people-focused pay on employee motivation through promotions and career paths.
6. Provides attribution for credible sources used in the training agenda and outline.
Format your assignment according to the give formatting requirements:
1. The answer must be double spaced, typed, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the assignment, the course title, the student's name, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.