Explain your view and understanding of compensation in the modern workplace. What exactly is it? Describe its various forms.

Select, research, and answer ONE of the following questions for this week’s discussion forum. Do provide complete references in the APA format for all of your sources. DQ responses are due to be posted on the discussion forum before Wednesday evenings; quality answers for each question is expected to have a length of approximately 250 words or more.

  1. Explain your view and understanding of compensation in the modern workplace. What exactly is it? Describe its various forms.
  2. Think about your current job (or a recent job). Are you satisfied with your current level of pay? Do you feel equitably paid within your company? Do you feel equitably paid within your profession across companies?   (Note: These answers may be very different one from the other) Also note that if you have never held a full time job, interview someone in your family and discuss their answers to this question.
  3. Is there a pay inequity in today’s workplace regarding compensation between men vs. women employees or Whites vs. Non-White workers? If so, how can such inequities be eliminated from your department if you are a manager? Discuss your thoughts and use examples or data to support your perspective.
  4. What are some best practices in compensation for senior level managers? Does high salary produce high performance? Discuss an example.
  5. From all of the available “Programs for Recognizing Employee Contributions”, which two programs for recognizing employee contributions do you feel are most worthwhile from an employee motivation standpoint and why?
  6. Under what circumstances do the benefits of higher pay outweigh the higher costs? According to efficiency wage theory, one circumstance is when organizations have technologies or structures that depend on highly skilled employees. Do you agree with this theory? Why or why not?
  7. Discuss a valuable topic, concept or theory that you reflected upon in the week’s assigned readings that is not mentioned above. Tell us the interesting topic from the assigned reading, what is it all about, what is the valuable element or learning point, and/or how we can make good use of it.