Ref:
Martocchio, J. J. (2013). Strategic compensation: A human resource management approach (7th ed.). Upper Saddle River, NJ: Prentice Hall.
Discuss the below:
Question 1
Discuss the differences between traditional pay systems and incentive pay systems. Which system would you prefer to be used at your company? Explain your choice.
Your answer should be 200 words in length. You should use your textbook to complete this assignment. All sources used, including the textbook, should be referenced; paraphrased and quoted material should have accompanying citations. All references and citations used should be in APA style.
Question 2
Identify and explain the five key factors employers should consider when designing an incentive pay plan. Why are they an important consideration of the process? Do you need all five to be successful?
Your answer should be 200 words in length. You should use your textbook to complete this assignment. All sources used, including the textbook, should be referenced; paraphrased and quoted material should have accompanying citations. All references and citations used should be in APA style.
Question 3
Why do companies adopt person-focused pay programs? What are the four models of person-focused pay programs?
Your answer should be 200 words in length. You should use your textbook to complete this assignment. All sources used, including the textbook, should be referenced; paraphrased and quoted material should have accompanying citations. All references and citations used should be in APA style.
Question 4
Explain what constitutes person-focused pay and the advantages and disadvantages for employees of these types of programs. How do these programs vary from merit based programs?
Your answer should be 300 words in length. You should use your textbook to complete this assignment.All sources used, including the textbook, should be referenced; paraphrased and quoted material should have accompanying citations. All references and citations used should be in APA style.