compensation strategy

For this assignment, write an essay 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 essay, include the items listed below.

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  • 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 essay 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 essay 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 essay. Adhere to APA Style when constructing this assignment, and   make certain to include in-text citations and references for all sources that   are used. Please note that no abstract is needed.

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