Strategic compensation is thought of by HR and Compensation professionals as a way to increase the organizations goal of attracting and hiring the best employees. A successful compensation plan has three main functions, which are: to attract employees to an organization, reduce employee turnover and create high levels of efficacies in the organization.
Read the case study and in a 2-3-page paper and answer the following questions:
- Do you feel the strategic compensation procedures discussed in this case study are a competitive advantage for the organization? Why or why not?
- What do you think could enhance the continuous improvement pay plan (CIPP) decisions discussed in this case study?
- What do you perceive the strategic benefits associated with using team-based, rather than an individual based, incentive plan at John Deere?
- Include a citation of the case study and any other references you may have used for this assignment.