Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

help lila respond with a positive feedback and a questionCompensation scorecards are a tool used by organizations to align business strategy with compensation. It can

help lila respond with a positive feedback and a questionCompensation scorecards are a tool used by organizations to align business strategy with compensation. It can be more clearly defined as a tool that "collects and displays the results for all the measures that a company uses to monitor and compare compensation among internal departments or units" (Snell 363). This demonstrates how the scorecard is used to be a comparative feature to reinforce the desired outcomes of an organization. Not only this, the compensation scorecard can also help to align a company's strategy with its compensation system. Companies who do not utilize a compensation scorecard "often struggle to know if the promotions, raises, bonuses, and pay adjustments they make are in line with the rest of the organization and its strategy" (Snell 363). This demonstrates how without the use of a scorecard, the goals of a business may get lost in alignment with compensation. However, in using a scorecard, transparency in how people are rewarded, in terms of the company's money, are clear. All in all, measuring incentives along with company objectives is a simpler task when compensation scorecards are put into play

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Exploring Strategy Text And Cases

Authors: Gerry Johnson, Richard Whittington, Patrick RegnÈr, Kevan Scholes, Duncan Angwin

12th Edition

1292282517, 978-1292282510

More Books

Students also viewed these General Management questions

Question

What information is shown on a W-4 statement? On a W-2 statement?

Answered: 1 week ago

Question

Discuss essential concepts of family therapy.

Answered: 1 week ago