Explain how an organization’s Total Compensation strategy affects an organization’s financial operations and its ability to attract, motivate, and retain top talent.

Explain how an organization’s Total Compensation strategy affects an organization’s financial operations and its ability to attract, motivate, and retain top talent.

You were hired to work as a HR Consultant for a small local hospital, with the task of expanding the workforce of certified medical assistants. Looking at the current three employees, you find a discrepancy in compensation between Susi, a 2-year employee at $28,000, Tom, 5-year employee at $27,000, and Raul, a 10-year employee at $33,000. All are employed as certified medical assistants, yet they all make different amounts of money. According to survey data, all three employees are below the market rate for this job in the local job market. All three employees are also exemplary employees with near perfect scores in their most recent performance evaluation.
Write a no more than 3 page paper that includes the following:
Explain the discrepancy in pay among the current employees.
Describe the strategy you would take to correct the internal equity issue.
Describe the strategy you would take to correct the external equity issue.
Explain how you will ensure that new hires will be paid equitably both internally and externally.
Explain how an organization’s Total Compensation strategy affects an organization’s financial operations and its ability to attract, motivate, and retain top talent.
Draw conclusions based upon Assigned Learning Activity Readings in eCampus, Martocchio, J. (2017). Strategic compensation: A human resource management approach (9th ed.). Upper Saddle River, NJ: Pearson, personal experience, and data collected from organizations.
Integrate and apply readings, Martocchio, J. (2017). Strategic compensation: A human resource management approach (9th ed.). Upper Saddle River, NJ: Pearson.throughout paper. Summarize and cite information using your own words. Direct quotations should be avoided.
Research should be summarized and synthesized using your own words; be certain to cite sources of knowledge.
Compare your paper with Guide for Written Assignments attached to assignment.
Format your paper consistent with APA 6th Edition guidelines. APA sample is attached to assignment.

Individual Assignment: Compensation Evaluation

Purpose of Assignment

It is important to understand the different perspectives of compensation as an HR practitioner. This paper will describe the differences in pay and the importance of aligning internal equity while maintaining external competiveness and its effects on the organization’s compensation strategy and its ability to attract, motivate, and retain top talent.

Grading Guide
Content Met Partially Met Not Met Comments:
The student explains the discrepancy in pay among the current employees.
The student describes the strategy they would take to correct the internal equity issue.
The student describes the strategy they would take to correct the external equity issue.
The student explains how they will ensure that new hires will be paid equitably both internally and externally.
The student analyzes how an organization’s Total Compensation strategy affects an organization’s financial operations and its ability to attract, motivate, and retain top talent.
The student explains the differences between base pay, performance pay and variable pay, and which is the best option for an employee.

The paper is 700 to 1,050 words in length.
Total Available Total Earned
7 #/7
Writing Guidelines Met Partially Met Not Met Comments:
The paper—including tables and graphs, headings, title page, and reference page—is consistent with APA formatting guidelines and meets course-level requirements.
Intellectual property is recognized with in-text citations and a reference page.
Paragraph and sentence transitions are present, logical, and maintain the flow throughout the paper.
Sentences are complete, clear, and concise.
Rules of grammar and usage are followed including spelling and punctuation.
Total Available Total Earned

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