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Hrm 598 Week 8 Final Exam Devry

986 words - 4 pages

HRM 598 Week 8 Final Exam Devry
 (TCO A) You are the compensation director for the New York Fruit Pies Company, which has 100 employees and is located in a small city of 50,000 in a rural agricultural part of New York State. You have just joined the company and have identified the need to create a revised compensation system.  

You are familiar with the four strategic pay policies that are typically found in pay models. Discuss each of the strategic policies as they would apply to your company. Are there any goals that your compensation system should incorporate? (Points : 30)
1.      (TCO B) As the new lead for the compensation services team, you have been given the responsibility ...view middle of the document...

Describe the difference between person-based plans and job-based plans. Explain which one you would use. What factors would you consider? What is one advantage and disadvantage of each? (Points : 30)
. (TCO D) The new HR VP is concerned about the performance appraisal process in the hand-held video game company where you are the compensation manager. You then review the results of the last performance appraisal cycle. It appears that supervisors and managers may be having difficulty in doing the appraisals. You are concerned about validity and reliability of the process. 

In preparation for a training program for supervisors and managers, identify at least three common errors in the performance appraisal process and describe them. In addition, describe steps to minimize these errors. (Points : 30)
(TCO H) You are the HR VP for the Carringten Auto Brake Lining Company. A recent economic downturn has seriously affected the auto industry and your company, as well. Your company has merged with two other brake component companies in an effort to gain production efficiencies and lower unit costs. You are the lead HR person for the new entity. Based on your analysis of the three previous executive compensation approaches, you have decided with board approval to redesign the executive compensation for the new combined organization.  

Describe the components of an executive compensation plan. Explain how these components can help support organizational strategies, attract candidates to the executive team vacancies, and retain the other current executives. (Points : 30)
(TCO G) As HR Director, you have arranged a management training program for managers and executives on the Fair Labor Standards Act (FLSA) because it is probably the most comprehensive and far-reaching legislation that affects compensation decisions in the organization
Describe the four key requirements and why they are important in compensation.
1.       (TCO D) As a compensation consultant, your newest client is a Southwest steel fabrication shop that specializes in producing...

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