Compensation
MISERICORDIA UNIVERSITY
BUSINESS DEPARTMENT
MBA PROGRAM
Assignment for Course: MBA 506 – Human Resource Management for Leaders
Submitted to: Dr. John L. Kachurick
Submitted by: Jennifer Rebarchick
Days of Course Meetings: Tuesdays 6:00-8:30 pm
Date of Submission: November 2, 2014
Title of Assignment: Critical Thinking Assignment 3
CERTIFICATION OF AUTHORSHIP: I certify that I am the author of this paper and that any assistance I received in its preparation is fully acknowledged and disclosed in the paper. I have also cited any sources from which I used data, ideas or words, either quoted directly or paraphrased. I also certify that this paper was prepared by me specifically for this course.
Student's Signature: Jennifer Rebarchick
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Instructor's grade on assignment: ____________
Instructor's comments:
Compensation-Bemis 1
Compensation-Bemis Corporation
Human Resource Management
MBA 506
Jennifer Rebarchick
Misericordia University
Fall 2014
Compensation-Bemis 2
ABSTRACT
The main purpose of a compensation strategy is to give the right rewards for the right employee behavior. Compensation is an important motivator when looking to achieve desired organizational results. Money is thought of as a powerful motivator, however that only holds for sometime until the next pay increase is due. Compensation strategies reinforce the organizational culture that you desire, this enables the culture where pay is linked to performance. To ensure this process works, it must be reflected in the strategic business objectives. The objectives must clearly be defined, must be communicated as soon as decision has been reached. By doing this proper, the organization can motivate employees and make them want to perform better.
CONTENT
An incentive plan is defined as a formal scheme used to promote or encourage specific
BUSINESS DEPARTMENT
MBA PROGRAM
Assignment for Course: MBA 506 – Human Resource Management for Leaders
Submitted to: Dr. John L. Kachurick
Submitted by: Jennifer Rebarchick
Days of Course Meetings: Tuesdays 6:00-8:30 pm
Date of Submission: November 2, 2014
Title of Assignment: Critical Thinking Assignment 3
CERTIFICATION OF AUTHORSHIP: I certify that I am the author of this paper and that any assistance I received in its preparation is fully acknowledged and disclosed in the paper. I have also cited any sources from which I used data, ideas or words, either quoted directly or paraphrased. I also certify that this paper was prepared by me specifically for this course.
Student's Signature: Jennifer Rebarchick
************************************************************************
Instructor's grade on assignment: ____________
Instructor's comments:
Compensation-Bemis 1
Compensation-Bemis Corporation
Human Resource Management
MBA 506
Jennifer Rebarchick
Misericordia University
Fall 2014
Compensation-Bemis 2
ABSTRACT
The main purpose of a compensation strategy is to give the right rewards for the right employee behavior. Compensation is an important motivator when looking to achieve desired organizational results. Money is thought of as a powerful motivator, however that only holds for sometime until the next pay increase is due. Compensation strategies reinforce the organizational culture that you desire, this enables the culture where pay is linked to performance. To ensure this process works, it must be reflected in the strategic business objectives. The objectives must clearly be defined, must be communicated as soon as decision has been reached. By doing this proper, the organization can motivate employees and make them want to perform better.
CONTENT
An incentive plan is defined as a formal scheme used to promote or encourage specific