Hrmt415 unit 3 ip | HRMT415 Compensation and Benefits | Colorado Technical University

write 750 words:

A strategic purpose for a well-blended compensation program, one that includes various types of direct compensation, is gaining employee commitment and productivity. One of the most effective tactics for this strategy is designing a process for linking individual achievement to organizational goals. 

Prepare a report to senior leaders addressing the following:

  • Explain the concept of tying performance to organizational goals. 
  • Describe the different types of individual and group-level performance measurements. 
  • What are the advantages and disadvantages of individual versus group-level performance recognition? 
  • Discuss the options an organization has to link individual or group monetary rewards to organizational success. 
  • Develop recommendations for how to implement, monitor, and evaluate such a program.

Assignment objective: Conduct structured interviews for the selection of human resources.

Develop a compensation plan for an organization that promotes both internal and external pay equity.

Discuss the elements of job analysis and job evaluation.

Identify the components of direct and indirect compensation.

Implement a system of selecting human resources that is both valid and reliable.