1) Requires the integration of several components into your response:
a. Identify, define and discuss the two main competitive strategies a company can pursue.
b. For each competitive strategy, discuss how a company's compensation strategy can promote that strategy.
c. Be sure to explain how a compensation strategy may vary based upon the strategy chosen.
d. Also, be sure to include in your discussion all elements of total compensation.
e. Finally, assume you are a CEO, pick a competitive strategy and describe the elements that your compensation strategy would include.
2) Federal and state laws govern several HR and compensation practices and are essential to maintain a balance of power between employers and employees. These laws are grouped into four key themes.
a. Identify the four key themes and discuss the laws that have been developed to support these areas.
b. Discuss the FLSA's exemption criteria and why it is crucial to appropriately categorize employees.
c. In terms of pay discrimination laws, distinguish between disparate treatment and disparate impact in a compensation context.
d. Discuss the rationale behind the FMLA, what its key provisions are and how it impacts a company's compensation practices.
e. Discuss the theory behind prevailing wage laws
Compensation and Benefits -question