LW AND MW MANAGEMENT
LW 1COMPLETE DISCUSSION
Explain how HRISs are changing how companies manage their compensation and benefit plans.
LW 2 REPLY TO DISCUSSION
Human Resource Information Systems (HRISs) have significantly impacted how companies manage their compensation and benefit plans by introducing efficiency, accuracy, and strategic decision-making. HRISs automate compensation and benefits processes, reducing manual errors and ensuring accuracy in data management. Automated calculations and systems ensure that employees receive accurate compensation, including salary, bonuses, and benefits. HRISs centralize employee data, including compensation and benefits information, in a single, accessible platform. Centralization facilitates easy retrieval of data, enabling HR professionals to make informed decisions based on real-time information. HRISs streamline the administration of compensation and benefits by providing a unified platform for managing various elements such as salary structures, incentives, and healthcare plans. This streamlining reduces administrative burden, allowing HR teams to focus on more strategic aspects of compensation planning. HRISs offer customization features, allowing companies to tailor compensation and benefit plans to meet the diverse needs of their workforce. Integration between HRISs and payroll systems ensures seamless processing of compensation, benefits, and tax-related information. HRISs revolutionize compensation and benefits management by introducing automation, centralization, customization, and data-driven decision-making, ultimately contributing to more efficient, strategic, and employee-centric HR practices. Thoughts?
LW 3 REPLY TO DISCUSSION
Professor,
- Employee Identification: Employee name, employee ID, department, job title, hire date, and location.
- Base Salary: The fixed amount of compensation paid to employees for their work.
- Variable Pay: Additional compensation that varies based on performance, such as bonuses, commissions, or profit-sharing.
- Overtime Pay: Compensation for hours worked beyond standard working hours.
- Allowances: Additional payments made to employees for specific purposes, such as travel allowances, housing allowances, or meal allowances.
- Incentives: Monetary rewards given to employees for achieving specific goals or targets.
- Benefits Enrollment: Data related to employee enrollment in benefits programs, such as health insurance, retirement plans, and stock options.
- Salary Structures: Information on salary ranges, pay grades, salary bands, and any other structures used to determine employee compensation.
- Salary Surveys: External market data on salary benchmarks, compensation trends, and industry standards.
- Performance Ratings: Evaluation data on employee performance, ratings, and merit increases.
- Payroll Information: Data related to payroll processing, including pay periods, tax withholdings, and deductions.
- Compensation Policies: Documentation of the organization’s compensation policies, guidelines, and procedures.
- Historical Compensation Data: Data on past compensation decisions, changes, and trends.
- Legal Compliance Data: Information on legal and regulatory requirements related to compensation, such as minimum wage laws and pay equity regulations.
- Employee Demographics: Data on employee demographics such as age, gender, education level, and years of experience.
- Cost of Living Data: Information on the cost of living in different geographic areas to adjust compensation accordingly.
- Market Competition Data: Analysis of compensation practices of competitors and peers in the industry.
- Employee Feedback: Feedback from employees on compensation satisfaction, preferences, and concerns.
- Compensation Budget: Financial data related to compensation expenses and budget allocations.
- Equity Analysis: Analysis of compensation disparities and fairness across different employee groups.
- Salary Forecasts: Projections of future compensation trends and costs.
- Job Descriptions: Detailed descriptions of job roles and responsibilities to determine appropriate compensation levels.
- Performance Metrics: Key performance indicators (KPIs) used to evaluate employee performance and tie it to compensation decisions.
- Compensation Committee Decisions: Records of decisions made by the compensation committee regarding compensation policies and practices.
- Employee Turnover Data: Data on employee turnover rates and reasons for leaving, may impact compensation strategies.
- Compensation Communication: Documentation of how compensation decisions are communicated to employees to ensure transparency and understanding.
MW 4 COMPLETE DISCUSSION
Consider the Twenty-First Century Vision Statements. After reading all 12 vision statements, answer the following questions to begin this week’s discussion.
- Which of the vision statements are, in your judgment, effective and which are not?
- Based on their vision statements, for which of these companies would you work for?
- Whose vision would turn you away? Why?
- How would you explain your preferences and dislikes with regard to these visions?
MW 5 REPLY TO DISCUSSION
Of the reasons discussed in this chapter concerning why visions fail, which are applicable to Mentor Graphics?
Vision concerns the future state of the organization, an aspiration that can mobilize the energy and passion of the organization’s members. Visions answer the question, “What do we want to achieve?” Visions describe an ultimate goal (Kolowich, 2019)
Below are the visions of Mentor Graphics.
“Build Something That People Will Buy.”
“Beat Daisy”
“Six Boxes”
“Five Boxes”
“10X Imperative”
“Changing the Way the World Designs Together.”
“Our current short-, medium-, and long-term vision is to build things people will buy.”
Looking at the visions, I can’t see what this company is making or what it wants to achieve. These visions are too complex, abstract, and difficult for customers to understand. Thus, I think they have failed to convey the company’s vision. Kotter (1996) perfectly shows that conveying the vision is an important factor in success or failure that affects organizational change. Palmer, et al., (2009) also argue that vision fails when there is little or no participation from other employees because consensus formation involving activities to develop and spread the vision is needed.
MW 6 REPLY TO DISCUSSION
After reading the case study, I understand that Mentor Graphics made many strategic mistakes that became costly for the company. This just reminds me of the Blockbuster situation, where they had a great vision statement but did not follow through or adjust and ended up bankrupt.
Mentor Graphics first had several visions through the years. Started with ” Build Something That People Will Buy,” then moved to ” Beat Daisy” to go to ” Six Boxes” and ” 10X Imperative” to finish with ” Changing the Way the World Designs Together.” The visions, to begin with, needed to be more specific and appealing. The employees or customers didn’t understand their visions or see themselves in that. You are not saying much when you put ” Six Boxes” as the vision statement. A vision is what you want to see after assessing the current situation. However, their visions needed to reflect their current situation. To say ” Beat Daisy” is insufficient as a statement and one that everyone will be energized by.
Their visions do not strengthen the company. The end proves this to be true. ” Beat Daisy”: what was the assessment that brought them to that statement? Was it just that they were falling behind the competition, and that became the company statement? To come up with a statement to win a contest will only drive the company into a ditch. Mentor Graphics had the same situation, they won the competition and did not have anything else to fall on to move forward.
Mentor Graphics did not feel the need to readjust as they realized that one unit was dragging the company. Just like Blockbuster strayed away from its vision, which was ” To be the global leader in rentable home entertainment by providing outstanding service, selection, convenience, and value.” Had they actually followed their vision, they should have bought Netflix when they had a chance to continue that outstanding service and convenience to the customers. But they did not, and the rest is history.
My point in this case is that it seemed to me that they should have assessed the current situation before looking at the future state. Had they done an assessment, ” Beat Daisy” might not have been their statement. The data provided some information that suggested taking another route for that change
MW 7
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