Human Resource Management
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Case study:
You are an HR leader or director for an organization that employees 500 individuals and expect growth within the next five years.
What steps/methods/analysis would you incorporate or introduce to upper-management to effectively manage salaries?
What challenges would you predict to administer the salary program during this growth period?
Include any practical working knowledge, sources, and/or statistics when possible to support or illustrate your decisions.
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Solution Summary
The response addresses the queries posted in 770 words with references.
Solution Preview
The response addresses the queries posted in 770 words with references.
//As per the directions, the paper deals with the explanation of methods or strategies which should be incorporated by the upper-management regarding the management of salaries of the employees during the growth phase of an organization. Examples and statistics are provided to illustrate the equity-based compensation strategy. The paper further discusses the challenges in implementing this strategy.//
Compensation Strategy during Growth Phase:
The organization is expected to grow in the next five years, which means the organization will acquire new technology, raise capital and expand its operations in new markets. The organization thus, needs more employees with expertise in different areas to propel growth. Keeping in view the expansion plans, the company will issue an IPO to raise capital. The whole organizational structure will undergo a significant change and accordingly, a new compensation policy will be developed (Tansky & Heneman, 2006).
The salary program will be based on experiential compensation strategy. This strategy involves a strong emphasis on salary incentives, rather than on the base salary. The salary will be relatively lower, but would be compensated through attractive incentives. This strategy lays stress on equality, participation of ...
Education
- MBA (IP), International Center for Internationa Business
- BBA, University of Rajasthan
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