Ashford University – BUS 681 Compensation and Benefits – week 2 DBs plus assignment
Week Two Learning Outcomes
This week students will:
- Elaborate on the uses of incentive pay plans.
- Assess the pros and cons of various employee pay plans.
- Discuss the relationship between performance management and compensation.
Overview
Assignment Due Date Format Grading Percent Discussion 1: Seniority and Merit Pay Day 3
(1st post)Discussion 3 Discussion 2: Incentive Pay Plans Day 3
(1st post)Discussion 3 Assignment: Performance Management Issues Day 7 Written Assignment 7
Readings
- Read the following chapters in your text, Strategic Compensation:
- Chapter 3: Traditional Bases for Pay: Seniority and Merit
- Chapter 4: Incentive Pay
- Chapter 5: Person-Focused Pay
Recommended Readings
- Read the following journal articles for further insight into this week’s topics:
- Dinkin, E. (2009, May). 5 point plan: Five steps to developing a long- term total compensation plan. Employee Benefit News, 23(6), 32. Retrieved from the Proquest database.
- Gupta, N., & Jenkins, G.D., Jr. (1996, March). The politics of pay. Compensation and Benefits Review, 28(2), 23. Retrieved from the Proquest database.
- You will find a list of websites that you may find useful under Course Materials in your online classroom.
Discussions
To participate in the following discussions, go to this week’s Discussion link in the left navigation.
- Seniority and Merit Pay
Define the concept of seniority and merit pay plans, including the strengths and limitations of such plans within an organization. Discuss the job, organizational and/or other factors that should be considered when deciding between the two. Respond to at least two of your fellow students’ postings.
- Incentive Pay Plans
Discuss how incentive pay plans – both individual and group – motivate employees to achieve high levels of performance. Identify potential weaknesses of these plans and suggest steps that can be taken to make these plans highly effective. Then, choose one industry that either an individual or group incentive pay plan would work best providing support for your reasoning (using personal examples to illustrate your point if possible). Explain your answer. Respond to at least two of your fellow students’ postings.
Assignment
To complete the following assignment, go to this week’s Assignment link in the left navigation.
Performance Management Issues
You have been asked to return to your alma mater and speak to current students about performance management issues. To make the most of this experience for yourself and the students, write a 3-5 page paper that details the following: the concept of “performance management”; the most prominent types of performance management plans; its impact on the employee and the organization; the relationship between performance management and compensation; and factors that should be considered when successfully implementing performance management within an organization.
Carefully review the Grading Rubric for the criteria that will be used to evaluate your assignment.
