Formulating the Compensation Strategy

HRPD 705 – Strategic Compensation – Singh

Team Project- Formulating the Compensation Strategy

Purpose: 1) To apply the Compensation knowledge in real-world situation.

The Task: Formulating a Compensation Strategy for an organization. use the simulation case posted on eCentennial. Formulate the compensation strategy for Zenith Medical System Incorporation, and submit a report for grading.

Breakdown of the Task:

A. Identify the existing problems at Zenith Medical System and analyze the underlying organizational factors that are causing those problems.

B. Develop a Pay-­for-Knowledge Plan for the company.

Report Headings:

Section A: Identification of Current Organizational Problems and Analysis on their root causes. In this section, you should identify the current problems that Zenith Medical System is facing (try to look at the problems in operation, product and service quality, productivity, cost, employee morale and behaviour, relationship between departments, and customer satisfaction, etc.), and analyze the reward and compensation related factors that are causing those problems.

Section E: Pay-for-Knowledge Plan. This section should describe and explain your pay-for-knowledge plan, including the skill blocks you have chosen, in the form of a skill grid.

Your report should also include:

Works Cited List: (not contributing to page count). Follow the APA Format for providing at least five references (including journals, the Internet, books, lecture materials, etc.).