Compensation Bonus Plan

Paper Summary:

This paper addresses the question of whether an organization can identify the compensation strategy that is most effective for it and how it can establish a methodology to ascertain what that compensation strategy might be. The paper includes a completed review of the relevant literature as well as a research design methodology. Finally, the importance of compensation strategies to contemporary organizations is noted and personal reflections of the author's relationship with God are revealed as central to the development of this project.

Outline:
Abstract
Problem Statement
Research Objectives
Literature Review
Importance of Study
Research Design
Budget
Measurement
Reflections

From the Paper:

"Compensation strategies typically fall within the functional control of human resources (HR) within most organizations. HR management has become one of the last remaining functional areas of an organization where differentiation can be achieved in the marketplace and where competitors might still be appreciably out performed. The reasons for this revolve around the ubiquitous and relative inexpensive character of technology and technological applications that have levelled the competitive field across all industries. Essentially, no matter where a company is located it can access and deploy the very same technological solutions as any other competitor; thus, organizations have determined, and correctly so, that human resources are a vital source of competitive edge if managed properly. "

Sample of Sources Used:

• Altman, A. (2001). A private sector view: How IBM has sought to stay competitive as most of the business world has become e-business. The Public Manager, 30(4), 10+.
• Baek, H. Young, and Jose A. Pagan. (2002). Executive Compensation and Corporate Production Efficiency: A Stochastic Frontier Approach. Quarterly Journal of Business and Economics, p. 27+.
• Buckingham, M., & Vosburgh, R. M. (2001). The 21st Century Human Resources Function: It's the Talent, Stupid! Identifying and Developing Talent, One Person at a Time, Becomes Our Defining Challenge. Human Resource Planning, 24(4), 17+.
• Dennis, A. (2004). What's next in corporate pay practices? An enhanced role for compensation committees and a hard look at stock options are in the offing. Journal of Accountancy, 198(1), 59+.
• Friedman, Thomas. (2005). Learning From Lance. The New York Times, July 27 (online). Viewed February 1, 2007 from: http:// www.nytimes.com/2005/07/27/opinion/ 27friedman.html?hp

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