BM1986: Strategic compensation management Assignment, NYP, Singapore: Identify and explain the top three (3) factors that shape the organization’s external competitiveness
| University | Nanyang Polytechnic (NYP) |
Attach ICA1 Part I – Introduction as an appendix to this report for the assessor’s convenient reference.
The report should cover all 3 parts in order:
Part I – External Competitiveness
b) For the chosen job family, research and recommend three (3) most relevant competitors to benchmark against. Provide a brief analysis of the selected competitors and explain your rationale for the selection.
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c) Recommend the ideal market percentile level that the chosen job family should be benchmarked against the chosen competitors in part b. Explain your rationale using concepts of pay level strategy (lead, lag or match).
d) Design the pay structure for the selected job family with reference
e) Identify an individual profile on LinkedIn that would be a good fit for any role in the job family. Suggest with reason, the recommended compa-ratio for the identified profile.
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a) Select any one (1) of the job role within the job family and develop a set of key performance indicators (KPI) for the role, including the associated performance rating scale.
b) Design a pay-for-performance bonus and increment plan, stating the corresponding bonus and increment that will be awarded based on the employee’s KPI performance. Evaluate your pay-for-performance program with reference to research and market data.
a) Recommend the ideal type of benefit program for the chosen organization that will best attract and retain the right talents. Support your recommendations with research and market data.
b) Select a similar organization operating in another country apart from Singapore. State your research and detail the differences in compensation policies and practices adopted by the foreign organization.
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