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- Describe your reaction to the following statement:
- Compensation has no bearing on a company’s performance.
- What are the elements of job satisfaction (Intrinsic Compensation) described by Martocchio (2015)?
- What elements constitute extrinsic compensation? While extrinsic compensation is important, does it provide job satisfaction?
- Pay and benefits is only part of the equation in running a good operation. Management and the work environment make a difference. What other factors create employee job satisfaction and motivates employees to perform?
- How does a company go about determining what constitutes competitive wage and benefits?
- How can job evaluation and job descriptions aid business in determining salary ranges and setting starting salaries?
- Can companies easily develop compensations that are both internally consistent and market competitive? What are some of the challenges to this goal?
- Distinguish policies on external competitiveness from policies on internal alignment. Why is external competitiveness so important?
