Evaluate at least three trends or recent approaches in compensation that SEIIC should consider in its redesign effort, including the pros and cons of each.
The company recognizes that things are changing in its business environment, the needs of its people are changing, and business is more global than in the past. As part of the ongoing analysis of trends that should influence the redesign of HRM in the company, what are the relevant trends in compensation and benefits to which the company should pay the most attention to develop the kind of employees it needs and retain its most valuable performers? To answer this question, address the prompts:
- Evaluate at least three trends or recent approaches in compensation that SEIIC should consider in its redesign effort, including the pros and cons of each.
- Evaluate at least three trends or recent approaches in benefits that SEIIC should consider in its redesign effort, including the pros and cons of each.
- Assess other intrinsic and extrinsic motivators that SEIIC should consider in its redesign effort, including pros and cons of those motivators.
- Using your evaluation in the previous three sections (compensation, benefits, and intrinsic/extrinsic motivators), justify an action plan to develop and retain valuable performers in the organization.