Compensation Design Research Paper

To demonstrate a deeper understanding of issues related to compensation design through preparation and completion of a research paper. 

Option 1: 

1. To review a small to medium size company's compensation plan. Examine the company's compensation philosophy and measure the compensation plan against the company's life cycle, product life cycle and business strategies.

2. To analyze the effectiveness of the current compensation program in terms of meeting the compensation philosophy and organizational objectives including:

· Attracting and retaining employees with the required skills, knowledge and abilities 

· Maintaining employee morale and motivating them to higher performance 

· Determining compliance with legal requirements relative to compensation 

3. To identify and describe the weakness and problem areas in the existing compensation programs that currently or may affect future organizational performance.

4. Make recommendations to improve the overall compensation program to assist the company in achieving it's goals. Each recommendation must be defended in terms of the benefits it will provide the organization should the organization choose to implement. 

5. Review one position in terms of job design, content and job context within the current compensation framework and determine the effectiveness of the current compensation program in meeting job position and organizational objectives. Make recommendations to improve and/or modify the compensation program specific to the position to improve it.

Option 2: 

1. Take a specific compensation issue related to your company or another company. (You may be able to use one of the companies reviewed from assignment 1). Include all relevant research that describes various methods to address the issue. Discuss all contemporary issues as they apply to the issue. 

2. Make recommendations on how to address the issue; include the benefits the company would achieve as a result of your recommendation.