Interest groups (stakeholders) in compensation systems . Define the term stakeholders. . Mention and define each
Question:
Interest groups (stakeholders) in compensation systems
. Define the term stakeholders.
. Mention and define each of the interest groups in your writing.
. Compare how the different stakeholders that exist in organizations are positively or negatively affected by the practices of compensation systems and identify what type of organization you are referring to when making comparisons.
. Check out this illustrative example:
o Compensation practices for overtime pay vary. Some organizations can pay on time and a half, as stipulated by law. Other organizations may pay for overtime double-time work. However, overtime pay is not applicable for supervisors or executives. The new Labor Transformation and Flexibility Law, in order to establish norms applicable to the employment contract, stipulates that employees hired prior to the entry into force of this law will continue to enjoy the same rights and benefits that they had.
. The above example is just an idea. In your written work, you must cite the applicable law, if any, and elaborate more on the subject.
. Next, you will need to develop two (2) compensation goals for an individual or group of professionals.
o Consider the following: what is essential to achieve this goal?
o As a compensation professional, you will need to promote effective compensation systems. However, it cannot be lost in perspective that such systems have to comply with important areas such as:
Market competitiveness
Recognition of the contributions of each employee to the company.
Measurement Theory In Action
ISBN: 9780367192181
3rd Edition
Authors: Kenneth S Shultz, David Whitney, Michael J Zickar