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Instructions
Congratulations! You are the principal partner of your very own Human Resources Consulting Firm. You have been assigned the contract to work with Peter Hillen of Minuteman Impressions to improve the Compensation Strategy. (background story attached to Assignment 3 in iLearn) One of the first actions by Peter Hillen is creating a five-year business plan that will turn the company around (from financially troubled to profitable), and part of his plan involves creating a strategic framework for compensation (your consulting work assignment.) Review the background information on Minuteman Impressions which is provided in the pdf file attachment. Answer the subjects/questions contained in the following four subjects/question areas (these are all part of the Five Steps on the Roadmap to Effective Compensation.) Be sure to label each answer (Subject 1 through 4) and provide references/citations from the text or Lessons for each answer. Subject 1 State which type of organization is Minuteman Impressions (Classic, Human Relations or High-Involvement) and briefly state why based on the facts in the scenario (refer to Compensation Notebook 2.2 Contextual Variables) Subject 2 State your recommendation to Peter Hillen whether the pay policy should Lag, Lead, or Match the market (one-word answer.) Then, state your most important reason for choosing this pay policy (based on the information in the attached scenario Minuteman Impressions.) Subject 3 Review Paragraph 6 (starts with Kate tries to be.) Using your compensation knowledge of indirect pay what can Peter change or implement in order to contain costs and without negatively impacting desired behaviours? Subject 4 Review paragraph 7 (starts with Minuteman has no formal.) Select any two sentences from the paragraph (each sentence suggests an area for improvement.) For each of the two sentences you select: state the sentence, state the issue (what needs to improve), state the area of compensation theory you will apply to improve the situation, and then the desired outcome or indicators.