Despite current economic stability and low unemployment rates, U.S. businesses are constrained from raising employee salary and benefits due to low-wage foreign competition. This week’s readings showcase a case study on pay compression at Envelop City and on how McDonalds uses praise (intrinsic factor) and individual incentive pay (extrinsic factor) to ensure satisfied and happy employees.
Discuss how an organization can motivate its employees to maintain/increase their productivity and performance without significantly increasing employees’ compensation. Additionally, as a compensation consultant, how would you develop market value for positions within your organization? Propose a compensation plan to ensure that rewards (i.e., wages, benefits, and other compensation) match job duties, tasks, and responsibilities.
Answer the above using the question and answer (Q&A) format. The Q&A format should include the original question along with your response. Within your post, support your responses with information from at least one peer-reviewed/scholarly source (not older than 3-5 years)
Your initial posting is due by midnight Mountain Standard Time, (MST) on Thursday and two peer responses to your classmates are required before midnight on Sunday. Late discussion responses will not receive credit.
The two reply posts to your fellow students must be similarly substantive in a manner and address two of the following bullets:
- Answer a question (in detail) posted by another student or the instructor.
- Provide extensive additional information on the topic.
- Explain, define, or analyze the topic in detail.
- Share an applicable personal experience.
- Provide an outside source (for example, a website) that applies to the topic, along with additional information about the topic or the source (please cite properly in APA format).
- Make an argument concerning the topic.