1. If you were advising a CEO on steps he or she could take to ensure confidence and trust in the compensation and benefit program what would you say?
As emphasized, “although paying for performance requires attention to an extensive list of serious issues, considering them in advance of implementation enables organizations to lay the groundwork for a successful performance-based compensation system” . As identified, inclusion of employees and members of the union during the development of the compensation and benefits program would ensure that all concerns, inputs, suggestions, and proposals pertinent to the subject matter are duly communicated and appropriately addressed. In addition, leeway and allowances should always be provided for updates which could be regularly provided through continuous evaluation and review of the program. Finally, the appeals process had been noted to be important. As revealed, “the credibility of a pay for performance system may be greatly enhanced by establishing an appeals process to provide employees a means to challenge rating or pay decisions that they believe to be unfair” . Communicating all the essential elements to the CEO would assist in affirming commitment to the integrity of the compensation and benefits program.
2. Share any experiences you may have had in seeking employment or asking for a raise.
One could see oneself in the position of asking for a raise in salary in current or future organizational settings. If and when it happens, one honestly believes that the best courses of action would be to assess one’s skills and competencies and research on the compensation given within the industry. According to the article written by Zupek (2008), it is pertinent to do one’s homework. Moreover, doing one’s homework entails undertaking the needed research to determine whether the compensation one is currently receiving matches the qualifications and competencies, as well as the requirements needed of the position. There are authoritative sources of information from the Occupational Outlook Handbook and other authoritative sources that would provide an average compensation rate based on the position (even including lowest and highest paid rates depending on skills, experience, and length of service in the profession).
In addition, to prepare oneself in seeking a raise in pay, one should be able to appropriately justify that the work load being undertaken justifies the amount of pay being asked for. After doing the research, the appropriate compensation rate would be ascertained and the exact amount of pay which is deemed commensurate with the work being done could be effectively supported. One also believes that timing and the appropriate approach and method for asking the raise in salary should be taken into consideration. One should be able to determine whether the organization has the resources to support the proposed increase in salary. In addition, the manner of asking should be planned and executed well. A formal letter to one’s supervisor in an appropriate tone is deemed to be the most viable option.
US Merit Systems Protection Board. (n.d.). Desiging an Effective Pay for Performance Compensation System. Retrieved from mspb.gov: www.mspb.gov/netsearch/viewdocs.aspx?docnumber=224104
Zupek, R. (2008, July 16). 8 salary-talk traps to avoid. Retrieved from CNN: http://edition.cnn.com/2008/LIVING/worklife/07/16/cb.salary.talk.traps/