Strategic compensation is a component of the human resource system. Organizations must determine the importance of many factors when choosing compensation and benefits. Write a 2 Full- page essay (not including the title and reference pages) that summarizes the impact and effect of compensation within an organization. Your paper should be written in a scholarly third-person tone; it should be in APA format. In addition to the introduction and conclusion, your paper should address the following:
Examine how organizations determine the relative importance of compensable factors.
Evaluate how compensation strategies tie into underlying corporate values.
Analyze an example which demonstrates how an organization’s compensation and benefits programs have been utilized to obtain corporate strategic goals.
In addition to the text, cite at least three scholarly references to support your discussion.
Text Source Required:
Read the following chapters in your text, Strategic compensation:
Chapter 1: Strategic Compensation: A Component of Human Resource Systems
Chapter 2: Contextual Influences on Compensation Practice
Weinberger, T.E. (1995, April). Determining the relative importance of compensable factors. Compensation & Benefits Management, 11(2), 17. Retrieved from the Proquest database.