HRM 598 Final Exam new
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1-(TCO A) You are a
consultant hired by the Herrington Specialty Metal Sheeting Corporation of
Detroit, Michigan to assist the HR Director in redesigning the compensation
system. The organization has just gone through an acquisition of a smaller
metal sheet company with similar products. Herrington has grown from 80 to 100
employees as a result. You are scheduled to meet with the HR Director and begin
to discuss what will have to be considered. You plan to tell her about the
strategic pay policies and pay models. Describe four strategic policy decisions
that will have to be made in designing her compensation system. What are these
strategic pay policies and how will they be relevant to the organization? In
addition, indicate what goals a compensation system should have.
The four strategic
policy decisions that one must make when creating a compensation system are
intemal alignment, external competitiveness, employee contributions, and
management. A compensation system should include efficiency, fairness, and
compliance. (Points : 30)
2. (TCO B) Green
Screen Technology, Inc. a leader in the motion picture graphics industry, is an
8-year-old southern California company. The Green Screen Technology is
generally regarded as the most creative and initiative companies on the West
Coast. It has been able to develop the forward-looking technology and attract
some of the best employees available. As the compensation director, you have
been asked to develop a job-based point evaluation plan for the organization.
Briefly describe a
job-based point evaluation plan. Discuss four compensable factors that you
would include in the job-based point evaluation plan. Be sure to define each
factor, justify why you selected it, and provide the weights or scales that you
would assign to it. (Points : 30)
3. (TCO B) You are
the compensation manager for Middle Financial Services. The organization buys,
repackages, and sells financial instruments. The organization's five major
units are sales and marketing, new products development, legal services and
compliance, IT services, and management.
You need to develop a
job evaluation plan for the organization. Describe the difference between
person-based plans and job-based plans. Explain which one you would use. What
factors would you consider? What is one advantage and disadvantage of each?
(Points : 30)
4. (TCO C) You are the compensation manager in
an established video game company that is having difficulty in hiring staff
members in the game development division. Until recently, this division has
been able to attract some of the best new graduates of computer science
colleges but has seen candidates accept positions with other companies.
What competitive
market pay policy would you recommend for the company to use? In order to make
your recommendation, what additional information would you need about the
company? Describe four competitive market pay policies, and give an example of
when an organization might want to use each policy. (Points : 30)
5. (TCO D) You are a
consultant who specializes in compensation. You are working with Midwest
Highway, Ltd, a road construction company housing five plants that produce
materials for road building. The CEO of the company wants to know what type of
performance measurement tool should be used in its production facilities in the
future. The main production job in the five plants (about 85 out of the total
of 125) involves operation of machines that mix and form the surfacing
materials. The production lines are well established and product lines are
consistent. The job appears to you to be a low-level one with prescribed
routines.
The CEO asks you the
following question: Should we consider a straight ranking approach, a rating
system such as a behavioral anchored rating scale (BARS), a management by
objectives (MBO) format, or a 360-degree multirater approach? Describe the four
types of performance assessment approaches. Recommend one and justify why you
have chosen it. (Points : 30) Spellchecker
6. (TCO D) The new HR
VP is concerned about the performance appraisal process in the hand-held video
game company where you are the compensation manager. You then review the
results of the last performance appraisal cycle. It appears that supervisors
and managers may be having difficulty in doing the appraisals. You are
concerned about validity and reliability of the process.
In preparation for a
training program for supervisors and managers, identify at least three common
errors in the performance appraisal process and describe them. In addition,
describe steps to minimize these errors. (Points : 30) Spellchecker I
7. (TCO H) You are
the HR VP for the Carringten Auto Brake Lining Company. A recent economic
downturn has seriously affected the auto industry and your company, as well.
Your company has merged with two other brake component companies in an effort
to gain production efficiencies and lower unit costs. You are the lead HR
person for the new entity. Based on your analysis of the three previous
executive compensation approaches, you have decided with board approval to
redesign the executive compensation for the new combined organization.
Describe the
components of an executive compensation plan. Explain how these components can
help support organizational strategies, attract candidates to the executive
team vacancies, and retain the other current executives. (Points : 30)
Spellchecker
8. (TCO G) As HR
Director, you have arranged a management training program for managers and
executives on the Fair Labor Standards Act (FLSA) because it is probably the
most comprehensive and far-reaching legislation that affects compensation
decisions in the organization. Describe the four key requirements and why they
are important in compensation. (Points : 30) Spellchecker
9. (TCO E) As a
compensation consultant, you have been asked by a client organization to brief
their management group on incentive plans like gain-sharing and profit-sharing
plans.
Briefly describe what
gain-sharing and profit-sharing plans involve. What conditions should exist
prior to implementation to make it easier to implement? What are the advantages
and disadvantages of group incentives like gain-sharing and profit-sharing
plans? (Points : 30) Spellchecker
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