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An egalitarian compensation structure would be best for APH Manufacturing according to the document. An egalitarian structure has fewer levels, smaller pay differentials, and uses either person or job criteria. It supports team-based work, equal treatment, cooperation between employees, and the free sharing of knowledge. These attributes reinforce behaviors that are important for APH Manufacturing's strategy and goals.
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Chapter 1 Topics
The Next Generation HR
Corey Wicks
Sara Elnour
MGMT 3010
Summer 2014
Virg
HR Fundamentals (Corey)
• HR (Human Resource) function- Window through which to observe a
business.
Approach: “Tell us about your business”
• Translate external issues into internal actions.
• HR is not the business, HR supports the business (creates value).
• HR professionals need to understand the business.
HR Stage 1-
Administrative duties (Employee Compensation, Attendance,
Pension/Retirement, Employee Recruitment)
HR Stage 2-
Sourcing, Rewards, Training, Communication
HR Stage 3-
Integration (Simultaneously work with different functions
such as Finance, Marketing, Operations).
Heightened Individual Attention (Work Place Environment,
Personality Screening-Myers Briggs)
HR Stage 4-
Realize External Business Conditions “HR from the outside
in”
HR working from the outside, in (Corey)
• Employee Placement/ Promotion- Based on customer expectations
“employees our customers want to work with”
• Training from the outside- customers, suppliers, investors, regulators help
design training programs
• Rewards from the outside- customers (determine best performing
employees) & investors
• Performance Review- customers & investors asses performance standards
• Communication from the outside- Employee messages shared with
customers & investors
• Culture from the outside- identity of business from customer’s perspective
Macro-environment that affects HR (Corey)
• Society (changing LGBT policies)
• Technology (Electric Vehicles, Solar power)
• Economies (U.S. Housing Bubble)
• Politics (Arab Spring 2011)
• Environment (Hurricane Katrina-Damage businesses, affect business
suppliers)
• Demographics (China’s one Child Policy-population control)
Business Stakeholders (Corey)
• Definition: Those that have an interest or concern in a business.
• HR Function: Create and deliver expectations to each stakeholder
http://www.bing.com/images/search?q=business+stakeholders&FORM=HDRSC2#view=detail&id=5C7DAB2DDB20BC5F3666B8959CBB75DF47EF7AE6&selectedIndex=3
Business Strategies (Sara)
• managing risk-operational, strategic and financial
• global positioning- conducting business worldwide
• managing a globally diverse workforce- increase culture, increase
the ideas
• adapting or change
• collaborating across boundaries- increase product ideas and
innovation
HR Transformation (Sara)
• HR is now focusing more on customers, suppliers, managers,
owners and the community
• HR is now more integrated in many business support functions
• HR is focusing more in delivering value to the company
Concl.
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Hr online research presentation
- 1. Choosing a Strategic Compensation Structure: Egalitarian vs. Hierarchical May 4, 2010 APH Manufacturing Executive Board Meeting for 2011
- 2. What is a compensation structure? • An internal pay structure can be defined by – Number of levels of work – Pay differentials between the levels – Criteria or basis used to determine those levels and differentials in pay
- 3. What a strategic compensation structure needs? • Needs to supports organization strategy • Needs to supports work flow – Work flow – process by which goods and services are delivered to the customer • Needs to reinforce desired behaviors – Ex: Intuit Indians
- 5. 5 Considerations in Developing Strategy • Objectives • Internal alignment • External alignment • Employee contributions • Management
- 6. Microsoft Bristol Myers Squibb • Support the business objectives • Support recruiting, motivation, and retention of MS-caliber talent • Preserve MS core values • Support business mission and goals • Develop global leaders at every level • Reinforce team-based culture • Reduce costs, increase productivity • Integral part of MS culture • Support MS performance driven culture • Business/technology-based organization design structure • Flexibility for development and growth • Reflect responsibilities, required competencies, and business impact • Lead in total comp • Lag in base pay • Lead in bonuses, stock • Bonuses and options based on individual performance • Open, transparent communications • Centralized administration • Software supported • Compare favorably to high-performing competitor • Cash between the 50th and 75th percentile • Support high performance, leadership culture • Team-based increases • Options align employee and shareholder interest • Tailor to business and team results • Performance and leadership feedback – everyone is a leader • Administrative ease
- 7. Importance of Compensation Strategy Mission, Vision, Core Beliefs, & Business Strategy Compensation Performance
- 8. Hierarchical vs. Egalitarian Hierarchical Egalitarian Level Many Fewer Pay Differential Large Small Criteria Person or Job Person or Job Supports: Work Organization Fairness Behaviors Close Fit (Banding) Individual Performers Performance Opportunities for Promotion Individual Contributors Recognition of Differences Loose Fit (Banding) Teams Equal Treatment Cooperation Share Knowledge Freely Cross Training in Jobs
- 9. Best Compensation Structure For APH Manufacturing the Egalitarian compensation structure would be best!
- 10. 1) Gomez-Mejia, L.R., & Balkin, D.B. (1992b). The determinants of faculty pay: An agency theory perspective. Academy of Management Journal, 35 (5), 921-955. 2) Gomez-Mejia, L.R., Welbourne, T.M., & Wiseman, R.M. (2000). The role of risk sharing and risk taking under Gainsharing. The Academy of Management Review, 25 (3), 492-507. 3) Lawler, E.E. (2000). Rewarding excellence: Pay strategies for the new-economy. San Francisco: Jossey-Bass. 4) Milkovich, G.T., & Newman, J.M. (2008). Compensation. Boston: Irwin McGraw Hill. 5) Olson, C.A., Schwab, D.P., and Rau, B.L. (2000). The effects of local market conditions on two pay-setting systems in the federal sector. Industrial and Labor Relations Review, 53 (2), 272- 294. Resources