Strategic compensation is thought of by HR and Compensation professionals as a way to increase the organizations goal of attracting and hiring the best employees. A successful compensation plan has three main functions, which are: to attract employees to an organization, reduce employee turnover and create high levels of efficacies in the organization.
Read the case study (attached) and in a 2-3 page paper, answer the following questions:
- Do you feel the strategic compensation procedures discussed in this case study are a competitive advantage for the organization? Why or why not?
- What do you think could enhance the tactical compensation decisions discussed in this case study?
- What recommendations would you make to the VP, Twyla Thompson in regards to their benefit plan and the All-Star Team plan?