Application: Total Rewards and Competitive Advantage
Mapping is a technique that is often used in the business world to track and measure various indicators. Product positioning maps, business process maps, and strategic roadmaps are all examples of mapping tools that visually represent key information for organizational leaders to analyze. Another type of map that is applicable for analyzing total rewards is the compensation strategy map.
A compensation strategy map provides a snapshot of an organization’s total rewards package and how it relates to different strategic objectives. An effective compensation strategy map can help determine the total rewards message conveyed to employees. In addition, the map can be used to determine how well a total rewards package aligns to an organization’s strategic objectives. If the map indicates that the total rewards do not align, the organization may need to reconsider its total rewards package.
In this Assignment, create and analyze a map of the compensation strategy for an organization of your choice. You may select the same organization that you chose for this week’s Discussion. Then, use Exhibit 2.8, “Contrasting Maps of Microsoft and SAS,” from the course text to map your selected organization’s compensation strategy.
To complete this Assignment, analyze the total compensation strategy for an organization of your choosing:
· Part 1: Using Exhibit 2.8 (Chapter 2), create a compensation strategy map for the organization you selected.
o Note: Exhibit 2.8 compares two organizations. For the purposes of this Assignment, you are required to map the compensation strategy of only one organization. But the template you create must include all of the objectives listed in Exhibit 2.8. Include this map as an appendix, following APA styles.
Part 2: Analyze an organization’s total compensation strategy in a 2- to 3-page paper:
o Briefly describe the rationale behind the placement of each of the points on your compensation map.
§ Cite references to your research where applicable.
o Summarize the key points of your organization’s strategy. To what extent, if any, does the organization’s compensation strategy align to its strategic goals?
§ Support your answer by providing examples of alignment or misalignment.
Milkovich, G. T., Newman, J. M., Gerhart, B., & Martocchio, J. J. (2011). Compensation and benefits(custom text). New York, NY: McGraw-Hill Irwin.