Suggested Materials to use in completing your assignment:
Managing Human Resources, Sections 9.1: What is Compensation? and 9.2a: Linking Compensation to Organizational Objectives (pp. 344–348); Section 9.3: Compensation Design–The Pay Mix through Section 9.3b: External Factors (pp. 354–360); Section 9.5a: Wage and Salary Surveys (pp. 363–364); and Section 11.3: Work-Life Discretionary Benefits (pp. 437–449).
Instructions: Compose a 2-3 page (recommended-but you can go over) written document (following the Writing Mechanics per APA- located at the end of this document) that will include the three sections identified below:
Describe the compensation philosophy of Maersk and how the market influences this philosophy.
How does Maersk compete in the Global industry overall and what their philosophy?
Does Maersk have a compensation strategy? Is the compensation strategy aligned with their organizational strategy? How do you know? Give an example of this if possible. Compare the industry performance and how Maersk measures up to the industry.
How does Maersk maintain talent? What initiatives are in place? Financial? Benefits? What can they do to improve? What are their shortcomings? How has the market influenced their philosophy overall, if at all? Give an example of this; be sure that you are detailed.
*Consider the information from a global perspective. The case study talked about Maersk and their Global standpoint. It also mentioned how they recruited internally and externally. What were some factors considered? Where benefits considered or used here? Why or why not? How could or should they be implemented? Based on the course information, what would be the best recommendations to fit in to the case study? Use detailed examples.
(This information is located within and throughout the case study. You did not need to write on every point above, however this information is listed to give you some direction).
Determine (decide) the value of salary surveys has on an organization.
Why are salary surveys important to Organizations?
How is a salary survey done? What system(s)/tool are used?
Why would salary surveys be important to Maersk?
(Chap. 9, pgs. 363 – 364)
Describe the advantages of discretionary benefits that Maersk may benefit from.
Define discretionary benefits
Why would this be important to Maersk?
How would Maersk use these to assist in retaining top talent?
(Chap. 11, pgs. 437 – 448)
Make sure the descriptions are clear and detailed by providing scholarly examples. Your assignment must show you have keen insight into the needs of adult learners. Use scholarly research (references) to contextualize (related) to your claims (descriptions and statements).