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Research how you would design an organization’s compensation system by utilizing “The Pay Model”. Follow the directions provided in Dr. Pool's syllabus. It explains the requirements for the paper. The directions follows the Pay Model and its components 1. Alignment, 2. Competitiveness, 3. Contributors, and 4. Administration in “The Pay Model”. Paper should be 5 pages in length. You will not be penalize if longer. Remember, You must email all students in class your compensation strategy regarding your suggestions for "The Pay Model" . Place your file in the dropbox.Just a reminder regarding the research paper (Pay Model) assignment. Grad students have reviewed numerous material for each chapter regarding the Pay model. Week 1 (Lecture notes & PPT notes highlight the 5 categories necessary in developing an effective Pay Model.  Describe how you would  create and implement each stage of the pay model. Suggestion: Develop a flow chart illustrating your pay model;. First, 5 page paper is required. Second, all five stages must be explained in the paper. Third, data is fictional, but you may be as detailed as you wish in describing your Pay Model. Hope this helps.INDIVIDUAL RESEARCH PAPER REQUIREMENTSPurpose: Each student will choose a company and study its compensation system in depth. The purpose of this paper is to describe and evaluate the pay system and benefits package of your company. This research can be done in a variety of ways such as looking on the company’s web page for information; interviewing HR managers, managers, or employees; reading the company’s mission, vision, and value statement; reading articles about the company; and touring the company. The goal of this paper is for you to compare a compensation system in the “real world” with what you have learned in class in order to identify similarities, differences, and provide your analysis and critique of the system based on what you have learned. You may create your own compensation plan for a “fictional” company, but you must complete each of the five sections as listed below. The Paper: There are five sections you need to include in your paper. The first section should look at internal consistency. How does your company determine the relative worth of jobs? Does it use a job or person based system? Describe the system it uses. If it is a job based, what type of job evaluation is used? If it is a person based, does it pay based on skills or knowledge? The second section of the paper should describe how your company achieves external competitiveness. How does it assess what its competitors are paying? Does it conduct its own wage surveys or use ones done by others? What is its pay policy? Does it lag, match, or lead its competitors? How is this external information combined with the internal worth of jobs to determine pay? Please do not ask individuals within your company what they are being paid. This is often a sensitive, private, and confidential issue. Focus on the procedures used to determine pay, not specific amounts actually paid.Individual employee contributions are addressed in the third section. Does your company base pay on individual contributions? If so, how does it evaluate performance? What things does it pay and reward for? What type of a pay for performance plan does it have? Does its reward individuals, teams, or organization wide? Does pay increase based solely on merit or does seniority make a difference?The fourth section should examine the benefits your organization offers. Focus only on the discretionary benefits, not the legally required ones like social security, workers’ compensation, and unemployment insurance. Discretionary benefits may include vacation time, health care, dependent care, wellness programs, retirement plans, life insurance, and so forth. Describe the discretionary benefits offered and any requirements to receive them. How long do you have to work there to qualify for benefits? Do you have to be full-time or are there also benefits for part-time employees?The final section is your evaluation of the company’s compensation system. Is the compensation system helping your company meet its mission and strategy? What did you like or dislike about this organization’s pay system and benefits? Why did you like or dislike those parts of the system? What would you do differently? That is, what changes would you recommend? Requirements: Papers must be double spaced with 1-inch margins, use 12-point font, and a length of 5 pages (you may exceed this page limit if necessary). Listed below are periodicals which you may utilize for your research paper. PeriodicalsAcademy of Management JournalAcademy of Management ReviewAmerican Journal of PsychologyAmerican Compensation Association JournalAmerican PsychologistBehavioral ScienceCalifornia Management ReviewCompensation and Benefits ReviewGroup and Organizational StudiesHarvard Business ReviewHuman Resource Development QuarterlyHuman Resources ManagementIndustrial RelationsJournal of Abnormal PsychologyJournal of Applied Behavioral ScienceJournal of Applied PsychologyJournal of Experimental PsychologyJournal of General PsychologyJournal of Health and Human Resources AdministrationJournal of Human Resources
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  1. muchina
    Tutorial # 00127026 Posted By: muchina Posted on: 11/10/2015 09:32 AM
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