Discuss the below:
1 Compensation System
Discuss the general goals of an organization's compensation system, including how a compensation strategy works to support the organization's business strategy.
2 Incentive Plans
Discuss how incentive pay plans, both individual and group, motivate employees to achieve high levels of performance. Offer one individual and group incentive pay strategy that would work best in your organization.
3 Job Evaluation
Provide a brief overview of the job evaluation process, including the importance of compensable factors. Detail the compensable factors of a position you are familiar with and their impact on that position's salary.
4 Legally Required Benefits
Provide a general overview of legally required benefits, including their purpose in society.
5 Retirement Programs
In the United States, we have seen a trend towards defined compensation programs from defined benefit programs. Many employers have moved in this direction to help them be more competitive. What are some reasons that these benefit programs are offered? How are they designed? What are some trends that you see with the design of the programs