HRM Questions& Answers (Compensations and Form of Pay )

Please answer all parts of each question below. Please review the material
attached in order to do this assignment
1) Compensation definitions:
What is your definition of compensation?
Which meaning of compensation seems most appropriate from an employee’s
views; return, reward, or entitlement?
Compare your ideas with someone with more experience in the workplace.
Compare your ideas with someone from another country

Compare your ideas with someone with more experience in the workplace.

Compare your ideas with someone from another country. Compare your ideas with someone from another field of study.

2) Forms of pay: List all the forms of pay you receive from work.

Compare your list to someone else’s list outside of the class.

What similarities and differences do you identify when comparing these two lists, and why?

3) Select a familiar organization: Infer its compensation strategy using the five dimensions (objectives, alignment, competitiveness, employee considerations, and management). Compare and contrast the differences between Microsoft, Merrill Lynch (discussed in the text), and the organization you selected, with respect to the five issues. Identify which business strategies they seem to “fit” (i.e., cost cutter, customer centered, innovator, or something else).