BUS 681- Week 1 Discussion 2

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Ashford University - California *

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681

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Business

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Nov 24, 2024

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docx

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Uploaded by aestrada1209

BUS 681- Week 1 Discussion 2 According Martocchio, “Consistent, innovative, and fair compensation practices are central to ensuring the success of both human resource strategies and overall company competitive strategies. While it is HR’s role to decide what kind of people are critical to fill roles that will lead to successful execution of competitive strategies, compensation professionals must align practices that will enable attraction, appropriate job placement, and development of these individuals” (2019, p. 23). Compensation needs to be consistent, creative, and fair if you want your human resource strategies to be successful and your company to be competitive. HR is responsible for deciding who the right people are to fill the roles that will help you succeed, but compensation professionals need to make sure the right practices are in place to attract the right people, get them the right job, and help them grow. Using fair compensation practices can help to attract and retain top talent. Ensuring that the right individuals are chosen for positions with compensation that aligns with the job is essential. If a senior level associate position has a similar salary range as an entry level associate, it will have a negative impact on recruitment and retention. It is also important that employees are trained to perform job tasks effectively to improve retention and employee engagement. Reference Martocchio, J. J. (2019). Strategic compensation (10th ed.). Pearson Education.

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