- Description
HRM 324 Week 2 Compensation Evaluation
You were hired to work as a HR Consultant for a small local hospital, with the task of expanding the workforce of certified medical assistants. Looking at the current three employees, you find a discrepancy in compensation between Susi, a 2-year employee at $28,000, Tom, 5-year employee at $27,000, and Raul, a 10-year employee at $33,000. All are employed as certified medical assistants, yet they all make different amounts of money. According to survey data, all three employees are below the market rate for this job in the local job market. All three employees are also exemplary employees with near perfect scores in their most recent performance evaluation.
Write a no more than 3 page paper that includes the following:
- Explain the discrepancy in pay among the current employees.
- Describe the strategy you would take to correct the internal equity issue.
- Describe the strategy you would take to correct the external equity issue.
- Explain how you will ensure that new hires will be paid equitably both internally and externally.
- Explain how an organization’s Total Compensation strategy affects an organization’s financial operations and its ability to attract, motivate, and retain top talent.
Draw conclusions based upon Assigned Learning Activity Readings in eCampus,Martocchio, J. (2017). Strategic compensation: A human resource management approach (9th ed.). Upper Saddle River, NJ: Pearson, personal experience, and data collected from organizations.
Integrate and apply readings, Martocchio, J. (2017). Strategic compensation: A human resource management approach (9th ed.). Upper Saddle River, NJ: Pearson.throughout paper. Summarize and cite information using your own words. Direct quotations should be avoided.
Research should be summarized and synthesized using your own words; be certain to cite sources of knowledge.
Compare your paper with Guide for Written Assignments attached to assignment.
Format your paper consistent with APA 6th Edition guidelines. APA sample is attached to assignment.
Click the Assignment Files tab to submit your paper.