Use the Internet to research a publicly traded company for which you would like to work.
Write a six to eight (6-8) page paper in which you:
1. Briefly describe the company you researched, its compensation strategy, best practices they are applying, and compensation-related challenges they are facing.
2. Analyze how your company applies compensation practice to determine the positive or negative impact to the company and its stakeholders.
3. Examine the ways in which laws, labor unions, and market factors impact the company’s compensation practices. Provide specific examples to support your response.
4. Evaluate the effectiveness of traditional bases for pay at the company you researched.
5. Use at least three (3) quality references. Note: Wikipedia and other Websites do not qualify as academic resources.
Your assignment must follow these formatting requirements:
• Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
• Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.
The specific course learning outcomes associated with this assignment are:
• Analyze how compensation practice can be applied to positively impact an organization and its stakeholders.
• Examine the ways in which laws, labor unions, and market factors impact companies’ compensation practices.
• Evaluate the effectiveness of traditional bases for pay (seniority and merit) against incentive-based and person-focused compensation approaches.
• Use technology and information resources to research issues in compensation management.
• Write clearly and concisely about compensation management using proper writing mechanics.
Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills. Please ensure all questions are fully addressed and the paper flows.
Compensation Practice Student: Professor: Institution: Course title: Date: Introduction Companies face difficult economic climates and increases in the cost of benefits, therefore, making them cautious of their compensation policies and strategies. Companies offer the best compensation strategies in order to motivate, attract and retain the best employees they have. This essay will explore Ford Motor Company and analyse its compensation practice, compensation approaches, and compensation challenges in the company`s compensation management. Ford Motor Company This automotive company is the second largest multinational automotive company after General Motors Company in the U.S. Henry Ford started the company in 1903 and in 1956, it became a publicly traded company, but with the Ford family having 40% of the voting rights in the Special Class B shares (Baker, 2015). Its headquarters are in the Dearborn town of Michigan, Detroit in the U.S. The company manufactures and distributes commercial vehicles, automobiles and luxury cars under its brand Ford and Lincoln (Yang, 2014). Ford Motor Company has a sound governance policy that enables it to have a flexible compensation method. Determination of the compensation considers taxes, compensation policies and strategies, guiding principles, performance-based incentive plans, pay equity and management recommendation (Ford Magazine Press, 2014). Ford Motor Company Compensation Strategies and Practic...