Assume you are leading a team of consultants hired by MPBS to
help develop their total compensation plan. MPBS wants to implement
a compensation plan to support their business strategy. Your team
has completed the preliminary review of the organization, including
discussions with management, and compiled initial information about
MPBS. That information is detailed in the team report. MPBS views
their mission statement as the driver behind the alignment of
policies, purposes and objectives of all operating units in the
entire organization. Your first task is to help the human resources department create
a compensation mission statement as the first step in designing
their compensation plan. You are to consider the various factors
affecting mission statements and objectives and then: Recommend a specific compensation mission statement and the
specific objectives of the MPBS compensation system that aligns the
compensation plan to the companys mission and strategy. Provide a
rationale to support your mission statement and objectives. Your second task is to overcome the past reluctance of top
management at MPBS to have anyone put much effort into
administrative detail. They have generally opted for a quick and
easy approach to policy and practice. You should plan to educate
the top management group regarding the need for more sophisticated
and detailed approaches to compensation. To do so, you must include
answers to the following questions that were posed by the new HR
manager. Justify your responses using scholarly sources. What are the relevant markets that each of MPBSs major
occupational groups should be compared to? Should MPBS lead, match, or follow competitors? Why? How will decisions on external competitiveness help MPBS align
compensation policies with mission and strategy? Why is it important and is it worth the effort and cost for
MPBS to bother with specifying pay grades and pay ranges? If pay grades are used, is it better to have few or more
grades? How should the ranges vary by job type and level? How much
overlap should be built into the grade ranges? In what ways might the plan MPBS develops and the related
compensation policies impact job performance? To complete this assignment, write a 6 page report in Word
format and provide rationale and scholarly support. Apply APA
standards for writing style to your work. Purchase the answer to view it
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