2-3 pages typed, single-spaced paper about compensation and rewards package

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. This assignment should be about 2-3 pages typed, single-spaced, using complete sentences and paragraphs (can be a little more or less pages, as needed – the length isn’t as important to me as is the content and thoroughness/thoughtfulness of your responses and your demonstration of learning). Bullet points or incomplete thoughts will not be accepted.

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Assignment Details

  1. Identify and interview a working professional (can be a relative, a friend, a mentor, professor, or colleague). Tell me who this person is (it’s okay if you do not share their full name), how you know him/her, what their role/title is at their current employer, the name and type of employer, and for how long they have been employed there
  2. Describe the compensation and rewards package this person has at their current employer (you do not need to identify their actual base salary in terms of dollars). What forms and mix of pay are they eligible to receive (remember to review your notes related to pay mix and forms to be sure you’re identifying all forms)? What forms of relational returns does this person receive? Are there additional rewards or recognition (monetary or non-monetary) this person has received or is eligible to receive?
  3. Describe how your interviewee’s total compensation package is linked to the strategic plan and/or objectives of the company. (Hint: you may have to research the company’s strategic plan on your own if your interviewee does not have line of sight to this and then hypothesize on how the comp package links to the org’s strategy)
  4. Does your interviewee know the pay position relative to the market his/her employer has taken? Based on your interviewee’s input, can you make an assumption here about the organization’s market position relative to the market?
  5. How does the total compensation and rewards program at your interviewee’s employer motivate them to perform? Was there something about the compensation package that initially attracted him/her to join this employer? What is it about the compensation package that keeps him/her working there? What are the pros and cons of their compensation package?
  6. Does your interviewee perceive their compensation/rewards package to be fair, equitable, and well-communicated? Does the employer have a means for compensation-related appeals?
  7. Provide a conclusion that a) identifies what you have learned by completing this exercise (hint: this needs to be relevant to the concepts learned in class) and b) includes at least one improvement your interviewee’s current employer can make to it’s compensation plan. This should be your opinion, supported by evidence from the textbook or learned in class

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