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BUS 150 Stanford Managing Fund of Human Resource Management Discussion

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Discussion Question:

1. Tomax Corporation has 400 employees and wishes to develop a compensation policy to correspond to its dynamic business strategy. The company wishes to employ a high-quality workforce capable of responding to a competitive business environment. Suggest different compensation objectives to match Tomax’s business goals.

2.Since employees may differ in terms of their job performance, would it not be more feasible to determine the wage rate for each employee on the basis of his or her relative worth to the organization? Explain.

3. Describe the basic steps in conducting a wage and salary survey. What are some factors to consider? One of the objections to granting wage increases on a percentage basis is that the lowest-paid employees, who are having the most trouble making ends meet, get the smallest increase, while the highest-paid employees get the largest increase. Is this objection a valid one? Explain.

4. What is a compensation scorecard and how does it help align a company’s strategy with its compensation system?

 
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