Business Finance Homework Help

Overview:

The Pay Model and Pay Strategy is key to understanding how to design a compensation system that can help an organization achieve success and sustain competitive advantage. How people are paid affects their behaviors at work. Critical in compensation design is thoughtful strategic alignment. 

Instructions: 

Using the first two chapters of the Compensation textbook, videos, and additional resources, answer the questions completely. 

• Describe the objectives of the pay model. Give an example of each. • How do the objectives set the standards to judge success? 

Gerhart, B., & Newman, J. (2020). Compensation (13th ed.). McGraw-Hill.

Chapters 1 and 2 are key to understanding the basic elements of compensation design, why and how strategic business decisions must align with total compensation strategy to influence organizational success.

• Chapter 1: The Pay Model
• Chapter 2: Strategy: The Totality of Decisions