Compensation

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Write an APA paper explaining your new compensation strategy for the mid-level manager position you still need to fill. Your audience is the chief executive officer (CEO) and other supervisors in your organization. In this work, include the items listed below.

  • After a brief introduction,      explain how equal employment opportunity laws impact the organization’s      compensation strategy.
  • Compare and contrast the      advantages and disadvantages of pay-for-performance and competency-based      pay. What strategy would you recommend for your organization, and why?
  • Explain how various      motivational theories can factor into your development of a      multi-generational compensation package for your whole organization that      includes indirect benefits. Be sure to give specific examples of how      different generations of applicants or employees will be affected.
  • Explain your proposed      compensation package, which should include direct and indirect benefits      and how the package will affect hiring and retention. Be sure to      specifically identify how much you will pay the mid-level managers, and      indicate how it compares to your state and the federal minimum wage. You      can search the Internet for sites that list comparable pay data. You      should identify a low, medium, and high pay range for the mid-level      manager.
  • Explain how you will assess      the effectiveness of the compensation strategy a year from now.

Your work will contain a one-page appendix in which you will create a chart of your compensation strategy. This chart should have three columns, which should address the areas listed below:

  • legally mandated benefits,
  • direct benefits (include how      much you will pay the mid-level managers), and
  • indirect benefits.

Your work will be a minimum of three pages in length, not counting the appendix, title page, or references page. You must use at least two sources to support your work . Adhere to APA Style when constructing this assignment, and make certain to include in-text citations and references for all sources that are used.

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