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Week 5 – Assignment
Evaluate the current compensation philosophy for your organization or an organization of your choosing (from a third-person perspective). Write a three-to-five page paper (not including the title and reference pages). Your paper should be written in a scholarly third-person tone; it should be in APA format. In addition to the introduction and conclusion, your paper should address the following:
- Evaluate the organizationâ€™s current compensation philosophy and propose ways to enhance or revamp the current compensation philosophy to meet the changing needs of the organization and its employees.
- Examine key factors within the internal and external environment including the mission and strategic focus of the organization, as well as the financial and cultural aspects of your organization (i.e., they cannot have a compensation philosophy where they â€œleadâ€ the market if the organization does not have the financial resources) that should influence this philosophy. The proposed philosophy itself should be no more than a short paragraph.
- Identify the key factors that should contribute to the organizationâ€™s development based on your proposed organizational philosophy.
Remember to write from a third-person perspective. Do not include wording like â€œmy companyâ€™s philosophy is â€¦â€ Instead include wording like â€œXYZ Company Nameâ€™s philosophy is â€¦â€ Remember to write about the company and the companyâ€™s philosophy; do not refer to you or your connection to the company.
In addition to the text, cite at least two scholarly references to support your discussion.