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Design an executive compensation package that motivates executives to make decisions that are in the firm’s best interests.
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- Which component of compensation is most essential to motivate executives to lead companies toward competitive advantage? Discuss your rationale. Discuss your position on executive compensation. Is executive compensation excessive or appropriate?Have a conversation on the role that human behavior plays in the success of an organization. Should the rules and procedures of a company's pay system be designed to encourage employees to perform in a manner that moves the business closer to achieving its purpose and goals?Which component of compensation is most essential to motivate executives to lead companies toward competitive advantage?
- Which component of compensation is most essential to motivate executives to lead companies toward competitive advantage? Discuss your rational Discuss your position on executive compensation. Is executive compensation excessive or appropriate?How does managing employee compensation relate to overall business goals? Provide examples from a managerial perspective.Compensation is one of the most important costs in organizations. Employees exchange their contributions for a set of outcomes, of which compensation is one of the most significant one. On one hand money is considered to be one of the key mechanisms that can be used to attract, retain and motivate competent employees to perform in ways that support organizational objectives. More often than not, a person’s earnings also serve as an indicator of power and prestige and are tied to feelings of self-worth. In other words, compensation affects a person economically, sociologically, and physiologically. On the other hand a telling fact is that money never satisfies and even large sums of it may fail to confer wellbeing. The failure is less due to a glitch in the program than due to the inadequacy of psychological assumptions that ground all such plans. As people move up the economic ladder, most almost immediately stop feeling grateful for their elevated circumstances and focus on what they…
- The venture capital firm is looking to finalize the compensation for the CEO. What factors should they consider in determining the CEO’s compensationSelect an organization of your choice and determine how management motivates its employees to perform. What do you think is the most relevant means of maximizing employee performance in this organization?define compensation, compensation philosophy, and critical components of a compensation strategy. Provide one solid example of an effective compensation practice/policy. Definition of compensation Overview of compensation philosophy Critical components of a compensation strategy Example of an effective compensation practice/policy
- Is executive compensation excessive or appropriate?We've discussed Total Rewards approach to attracting and retaining employees. Assume that you are an External Consultant and were hired to evaluate a small business start-up (or business of interest to you) on how they should structure their Total Rewards program. Based on what you have learned about legally required vs. strategic (voluntary) rewards and provide an initial proposal for what this organization needs to do to be compliant with the law and reasonably attract workers.You must identify the jobs/nature of the work for which you are hiring and seeking to base compensation decisions upon. You must state whether they would be low vs. highly skilled workers and define the work to be performed in preparing your proposal . In your response, you should be able to provide an overall plan with recommendations (e.g., You don't have to state what the wages would be but you should be able to recommend to an employer how they could determine it - minimum wage, premium above minimum wage,…Are employees more likely to favor defined contribution plans over defined benefit plans? What about employers? Explain your answer.