Question 1: The Nature of Compensation (Everyone responds)
For our first question, take a moment to think about compensation. What does compensation mean to you as an employee? Talk to your colleagues at your workplace. What do they think about compensation - and how well they are believe they are compensated. Are there issues? Is it really all about money? Is there a psychic component to compensation for you or for them? Conduct brief research and see what experts say is the effect of satisfied employees on a company's bottom-line.
Question 2: Pay Systems
Define each concept below. Include in your discussion, thoughts about the nuances or issues surrounding each concept and then demonstrate how they relate to one another.
Pay Philosophy
Pay Grades
Pay Systems
Job Classifications
Types of Pay
References
https://learn.umuc.edu/d2l/common/dialogs/quickLink/quickLink.d2l?ou=196465&type=coursefile&fileId=HRMN+300+Text+Chapter+6.docx
https://learn.umuc.edu/d2l/common/dialogs/quickLink/quickLink.d2l?ou=196465&type=coursefile&fileId=HRMN+300+Text+Chapter+7.docx
https://www.slideshare.net/tantia90/compensation-benefit-presentation-final
https://www.advocacy.shrm.org/overtime
https://www.entrepreneur.com/article/75340