In this Assignmenti in HR435 HR Compensation, you return to the subject of how compensation programs can be aligned to help an organization gain and maintain a competitive advantage in the marketplace. Utilizing your Final’s organization, answer the following questions in a 2-3 page paper:
1. Describe your selected organization’s business strategy including mission, values, and goals. Identify its strengths, weaknesses, opportunities, threats, and competitors. What is your selected organization’s current position in their marketplace?
2. From what you have researched thus far about your selected organization, does it use compensation as a means to increase and sustain a competitive advantage? If so, how? If not, how could they?
3. Evaluate how your organization’s pay strategy meets (or fails to meet) the three tests for sustained competitive advantage that are introduced in Chapter 2 of your text.
4. Define internal alignment, and discuss why it is an important policy in compensation. (Examine the components of internal alignment, analyze how internal alignment is an important policy in compensation, discuss the usefulness of internal alignment in compensation plans)
5. If your organization was expanding to a foreign country, how would you determine competitive pay rates for the new location? Conduct research on the cost of living in one major international city. How do the rates compare to the local rates? To successfully complete the paper, the following are the minimum requirements:
Complete a 2-3 page paper in APA format – 12 point font, double-spaced, indented paragraphs, citations, reference list, etc.
Include introductory and summary paragraphs.
Limit the use of direct quotations – instead, paraphrase and cite the author’s work. Reinforce your personal opinions with at least two credible or scholarly research articles (not to exceed 20% of content).
Demonstrate your understanding of the weekly objective(s) through your response.
Directions for Submitting Your Assignment
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HR435 HR Compensation Assignment Requirements
1. Described the organization’s business strategy, SWOT, and current marketplace position.
2. Described the extent to which the organization used compensation as a competitive advantage.
3. Evaluated the organization’s pay strategy against the three tests for sustained competitive advantage.
4. Examine the components of internal alignment.
5. Analyze how internal alignment is an important policy in compensation.
6. Discuss the usefulness of internal alignment in compensation plans.
7. Presented a comparison of pay rates from a local city and a global city