Human Resources Management Home Work

Human Resources Management Home Work

The goal of this Learning Exercise is to introduce you to the concepts related to Employee Compensation. You will need to read Chapters 10, 11, & 12 in your textbook.

A. READ CHAPTER 10 IN the TEXT BOOK

Chapter Overview. The way a firm handles compensation-related issues has a direct impact on employees and the business. Compensation affects the firm’s ability to attract, retain, and motivate employees. It also has a direct bearing on the extent to which labor costs detract from or contribute to business objectives and profitability. Thus, managers need to understand the important issues related to the design and management of a compensation system. This chapter addresses this matter. It defines the components of compensation and presents the nine criteria used in developing a compensation plan. It also describes the process of designing a compensation plan and concludes with a discussion of the legal and regulatory influences surrounding employee compensation.

After reading this chapter, you should be able to deal more effectively with the following challenges:

Learn about the components of total compensation.
Learn how to design a compensation system.
Understand the difference between job and individual pay options.
Develop familiarity with compensation tools.
Become familiar with the legal environment affecting compensation and pay system governance.
IMPORTANT: Make sure you understand the key terms on page 316. Your exam will cover this

Answer the following questions from your text book (50 – 500 words for each question)

Question 10-1, 10-2, & 10-3 on page 316

B. READ CHAPTER 11 IN the TEXT BOOK

Chapter Overview. This chapter focuses on the effective design and implementation of pay for-performance systems. First, it addresses the major challenges and pitfalls facing managers in their attempts to link pay and performance. Second, the chapter offers a set of general recommendations to deal with pay for-performance challenges. Third, it describes and analyzes specific types of pay for-performance programs. Finally, it discusses unique pay for performance plans for executives and sales personnel.

After reading this chapter, you should be able to deal more effectively with the following challenges:

Grasp the major challenges in pay-for-performance systems.
Develop competence in dealing with potential problems with pay-for-performance systems.
Have familiarity with various types of pay-for-performance plans and their advantages/disadvantages.
Develop competence in designing pay-for-performance plans for executives and salespeople.
Learn about how to reward excellence in customer service.
Become aware of special concerns with pay-for-performance programs in small firms.
IMPORTANT: Make sure you understand the key terms on page 354. Your exam will cover this

Answer the following questions from your text book (50 – 500 words for each question)

Question 11-2, 11-6, & 11-8 on page 354

C. READ CHAPTER 12 IN the TEXT BOOK

Chapter Overview. The chapter begins with a broad view of the importance of employee benefits and how they are associated with the total compensation package. The two categories of employee benefits programs (i.e., legally required benefits and voluntary benefits) are described in detail. Last, this chapter presents some key issues in benefits administration.

After reading this chapter, you should be able to deal more effectively with the following challenges:

Grasp an overview of benefits.
Develop the benefits strategy.
Know the legally required benefits.
Have familiarity with the voluntary benefits.
Learn practices for administering benefits
IMPORTANT: Make sure you understand the key terms on page 392. Your exam will cover this

Answer the following questions from your text book (50 – 500 words for each question)

Question 12-2, 12-3, & 12-4 on page 392-393