Corporate as normal as an opponent with america

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corporate as normal as an opponent with America energy businesses expanding. Pulling out and cultivating practices in America are very pricey than in a lot of other nations, counting Saudi Arabia, which jeopardize the competitive advantage of the America based corporations removing and lubricant refining conducts in America (Martocchio, 2017). References Martocchio, J.J. (2017). Strategic compensation: A human resource management approach (9th ed.). Retrieved from Classmate 2 post: There are a few different strategies that can be used when implementing a compensation plan. Two strategies that are mentioned in the text are lowest-cost and differentiation (Martocchio, 2017). A lowest-cost strategy is used for a company who may have a lot of competition and needs to be able to produce items or services at a low cost. This would likely be used for a company that makes low-tech items that do not require a high level of skill or experience. For example, a company like McDonalds, who needs to keep prices low to due to the
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extreme amount of competition, would was to use low-cost talent. A differentiation strategy is used by companies with less competition. A company like Apple, who needs highly skilled employees to make high tech products. These candidates will need a large compensation package, which could offer large amounts of salary, vacation, 401k, stock, etc to entice candidates to not consider other companies. These candidates are harder to find and will need more convincing that low-tech employees. A company may even have a need to use both strategies - one for high level development, and one for low level assembly. By knowing what is needed, a company can better create a strategy(s) to best attract and retain appropriate talent. Martocchio, J.J. (2017). Strategic compensation: A human resource management approach (9th ed.). Retrieved from Weekly Lecture: Welcome to BUS 681 – Compensation & Benefits. Throughout this course, you will gain an in-depth knowledge into compensation theories, policies, systems and practices
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with emphasis directed towards designing effective compensation programs. Overall, this course will provide knowledge of the art of compensation practice and its role in promoting companies competitive advantage. Additionally, this course will examine the context of compensation, the criteria used to compensate employees, compensation design systems, employee benefits, and the contemporary challenges organizations will face in the future. In Week 1, this course will provide an overview of compensation systems as well as assess compensation strategies and their impact on an organization. Strategic compensation is a human resource management approach employers use to attract, retain, motivate and grow talented employees as organization's goals and objectives are maintained. The importance of a strategic compensation approach is to meet the organizations goals but to also obtain a competitive advantage. Since the early “1980s, there has been increased recognition in the business field that human resources contribute to the competitive advantage of an organization” (Martocchio, 2017). A competitive advantage results from having the right employee working in the organization. Therefore, to have the best employees, they
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