Compensation Strategy: Technology Institute Coordinator Patrice A. Powell BUS 434 professor Suzanne Pantoja May 21, 2012 Compensation Strategy Organizations take different measures to view that they argon hawkish in the stock market and this competition non only goods and services but it also includes being competitive in salary as it relates to staffing the organization. Just like the business strategies and competitiveness of the organization are imperative to the success of the organization, so is the compensation strategy. According to Henderson, R. (2006) for the benignant resources/compensation specialist, the assignment to ensure accomplishment of organizational strategy beings with determining (1) the work that mustiness be performed by some work unit or individual, (2) the kinds and levels of knowledge and skill required, (3) the quality of people needed to win organizational success, and (4) the rewards the organization can offer to its members that promote a work culture that ensures accomplishment of the organizational strategy, (p. 5).
A human resources/compensation strategy that fulfills the preceding four requirements will provide a competitive advantage to the organization. Of equal importance, these efforts assist in developing an organizational structure that promotes effective use of entirely available resources, (Henderson, R. 2006, p.5). The human resources/compensation specialists have determined that the compensation strategy for the position of the Technology Institute Coordinator is based on several different factors. Those factors include the duties the coordinators are expected to perform, the look in which the duties are expected to be performed, past experience, and proficient background/experience. The job description of the Technology Institute Coordinator specifies that the chief(a) functions include assisting with the... If you want to get a full essay, modulate it on our website:
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