Compensation Strategy

Select an organization with which you are familiar and describe the type of compensation strategy it uses. 

Guided Response:

Be sure your response is between 200-300 words and includes at least two scholarly references, one of which should be our course text.  Respond to at least two classmates’ posts.

 I need to respond to these two student’s discussion

Reply to Katise Aiken

An organization I am familiar with is Peoplease. This company has been around forever twenty years. We are a small company with about 60 employees. I am a Payroll Specialist and I have been with this company for over 11 years. The company provides services such as payroll, HR, benefits, and tax for mainly trucking companies all over the United States. The strategy that fits this company is the “total rewards strategy, including compensation, benefits, work-life effectiveness, recognition, performance management, and talent development” (Weathington, 2016. Ch. 1.2). When I first started at this company, the perks are what drew me to this company. The starting pay was decent, especially with no experience. We got a fairly good raise each year in addition to a nice size bonus. The benefits are exceptional. All Single medical coverage is paid 100% by the company. The coverage includes dental, medical, vision, and life. They offer tuition reimbursement for courses taken that is related to your job.

Our company, as well as our clients, recognize employees for doing a good job. With being recognized there is also a reward given whether it’s money or a letter recognition. The 401K plan is great, it consists of a match up to 4%. If a company keep the focus on compensation strategy that can and will build morale and with keep the employees motivated to do their job. “Compensation represents by far the most important element in the employment relationship and is of equal interest to the employer, employee and government” (Bhatia, 2010. pg. 2). Keep in mind compensation strategies will help motivate, but will also attract new good and qualified candidates to the company.

Bhatia, K. (2010). Compensation management. [electronic resource]. Mumbai; Himalaya Pub. House, 2010. Retrieved from: http://eds.b.ebscohost.com.proxy-library.ashford.edu (Links to an external site.)Links to an external site.

Weathington, B. L. & Weathington, J. G. (2016).  Compensation and benefits: Aligning rewards with strategy  [Electronic version]. Retrieved from https://ashford.content.edu (Links to an external site.)Links to an external site.

Compensation Strategy–Select an organization with which you are familiar and describe the type of compensation strategy it uses.  appeared first on Precision Essays.