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 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).
