ALGONQUIN mm for Continuing COLLEGE . a. Onllna Learning Assignm ent #3 - Create a m ulti-tiered performance-based compensation system This assignment relates to the following Course Learning Requirements: CLR12 Com pare em ployee com pensation and benefits Objective Of this Assignment I To compare and contrast, as well as apply a deliberate and clear approach to planning and adopting a competitive, transparent and effective perform ancebased com pensation system . Forthis assignment, read the following scenario mm a large international mining firm with operations located throughout the world.The senior leadership team wants to move away from providing a 100 '36 base salary plus benefits for managerlevel positions and towards a performancebased compensation system.They cite a number of factors in their thinking, including the varying value of the dollar within differentjurisdictions, the inability of some administrative staff to motivate themselves when on assignment at centres outside of Canada, and a disparity in what expatriates are paid relative to their h 0st co u ntry. Com plete the following tasks: Wed performancebased compensation systems which outlines three levels of administration (managers, vice presidents, CEO). From your research: a. review how management tiers interact with one another relative to performance measurement and pay. Note that the concept of perform ancebased com pensation systems {pay for performance) is a different concept than performance management systems. Perform ance- based pay may be used at tim es in performance management, but it has its own entity. b. review how performance should be established. including the formulation of goals and metrics on how performance will be monitored. c. explore how this structure is designed to motivate the team and im prove performance. d. begin to think an argument for or against managers in different countries being paid in local currency vs. Canadian dollars. The Assignment Outline your plan for the creation of a performance-based compensation system by including: I how the three management tiers (managers, vice presidents, CEO) interact with one another relative to performance measurement and pay. You will explain the relationship between the tiers, levels, and positions. Note this addresses managers. The employee level is not included in the discussion. As well, note that the concept of performancebased compensation systems (pay