1) Compensation definitions: What is your definition of compensatio

1) Compensation definitions:

• What is your definition of compensation?
• Which meaning of compensation seems most appropriate from an employee's views; return, reward, or entitlement?
• Compare your ideas with someone with more experience in the workplace.
• Compare your ideas with someone from another country. 
• Compare your ideas with someone from another field of study.

2) Forms of pay:

• List all the forms of pay you receive from work.
• Compare your list to someone else's list outside of the class.
• What similarities and differences do you identify when comparing these two lists, and why?

3) Select a familiar organization:

• Infer its compensation strategy using the five dimensions (objectives, alignment, competitiveness, employee considerations, and management).
• Compare and contrast the differences between Microsoft, Merrill Lynch (discussed in the text), and the organization you selected, with respect to the five issues.
• Identify which business strategies they seem to “fit” (i.e., cost cutter, customer centered, innovator, or something else).