薪酬管理样题1.doc

ANSWER 5 OUT OF 7 QUESTIONS ( 20 MARKS EACH ) 1. a. Identify the four steps in developing a total compensation strategy. ( 4 marks ) Step 1: Assess Total Compensation Implications； Step 2: Map a Total Compensation Strategy； Steps 3 and 4: Implement and Reassess b. Explain the five compensation policies in the pay model that helps the organization to develop its compensation strategy. ( 10 marks ) 1. Efficiency - Focuses on (1) improving performance, increasing quality, delighting customers and stockholders and (2) controlling labor costs. 2. Fairness - It is the fundamental objective of pay systems. It attempts to ensure fair treatment for all the employees, by recognizing both employee contributions, and employee needs. 3. Procedural fairness – Refers to process used to make pay decisions; suggests way a pay decision is made may be as important to employees as the results of the decision. 4. Compliance - Involves conforming to various federal and state compensation laws and regulations. 5. Ethics - Means the organization cares about how its results are achieved. a. Managing pay sometimes creates ethical dilemmas because of its importance. b. Some compensation professionals and consultants remain silent during ethical misconduct and outright malfeasance. c. Objectives serve as standards for judging the success of the pay system. c. Describe the three tests that can be used to determine if a compensation strategy is a source of competitive advantage. ( 6 marks ) Is it aligned?； Does it differentiate； Does it add value 2. a. Justify with two reasons why job analysis is necessary in establishing internal alignment. ( 4 marks ) a. It establishes similarities and differences in the work contents of the jobs, and b. It helps establish an internally fair and aligned job structure. b. What are the five major decisions involved in job analysis? ( 10 marks ) What Information Should Be Collected? How Can the Information Be Collected? Job Descriptions Summ