It is critical to know that a successful compensation strategy will gain more acceptance by senior management when HRM can demonstrate a link between the rewards strategy and the attainment of the organization’s strategic goals.
For your next HR Challenge, your manager, Megan, has asked you to design a pay structure for CapraTek that is commensurate with job classifications.
Instructions
The deliverable is a recommendation memo to upper management. In addition to the media presentation from this week’s studies, it may be helpful to review the first CapraTek interaction, CapraTek: Key Issues and Initial Analysis, which you viewed in Week 2.
To develop the recommendation memo to upper management, do the following:
Create a strategic pay structure for CapraTek using Martocchio’s five-step system, including the number of pay structures, market pay line, defined pay grades, and pay ranges (Martocchio, 2020, pp. 182–189).
Analyze merit pay systems and their applicability to CapraTek.
Analyze sales-incentive compensation plans and their applicability to CapraTek.
Analyze person-focused programs and their applicability to CapraTek.
Evaluate the alignment of job classifications to this pay structure.
Note: Your instructor may also use the Writing Feedback Tool to provide feedback on your writing. In the tool, click the linked resources for helpful writing information.
The deliverable for this assignment applies professional skills in HRM to workplace situations that you will likely encounter in your day-to-day work in HRM. As part of your learning, focus on the development of effective professional communication skills for the workplace.
Length: Your 3–4 page memo should be typed, double-spaced pages, including the resource page.
Organization: Make sure that your assignment writing is well organized, using headings and subheadings to organize content for the reader.
Font and font size: Times New Roman, 12-point.
Resources: Use two scholarly, peer-reviewed or academic sources.
Evidence: Support your assertions with data and/or in-text citations and create a reference list at the end of your document.
APA formatting: Resources and in-text citations are formatted according to current APA Style and Format.
Written communication:
Adhere to the rules of grammar, usage, and mechanics.
Use spell-check and other tools to ensure correct spelling and grammar.
Write for a specific audience, using the vernacular of the profession.
