compensation scorecard

 

Discussion Questions

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.

3.    What is job evaluation? Explain the differences between the major job evaluation systems, noting the advantages and disadvantages of each.

4.    Describe the basic steps in conducting a wage and salary survey.  What are some factors to consider?

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

 

Case Study 2

1.    Why is it important for pay to be externally fair?

 

2.    Why is it important for pay to be internally fair?

 

3.    What should Costa Vida’s compensation strategy look like?  Hint: what are the company objectives and how can employee pay help to achieve those objectives?

 

4.    What should the pay structure look like?  What pay mix would you recommend?

5.    How should Nathan communicate a new compensation strategy to his franchisee owners and managers?

6.    What effect will paying higher wages have on Costa Vida in the short term?  What effect will it have in the long term? Explain.