Total Compensation Strategy Map for Walmart Stores
Topic: Total Compensation Strategy Map for Walmart Stores
Map Walmart’s compensation strategy. these are five strategic compensation choices: 1. objectives: how does compensation support the business strategy and be adaptive to the cultural and regulatory pressures in a global enviroment? 2.internal alignment: how differently are the different types and levels of skills and work be paid within the organization? 3. external competitiveness: how is total compensation positioned against competitors? what forms of compensation are used? 4. employee contribution: is pay increases based on individual and/or team performance, on experience and/or continuous learning, on improved skills, on changes in cost of living, on personal needs (housing, transportation, health service), and/or on each business unit’s performance? 5. management: how open and transparent are Walmart’s pay decisions to all employees? who is involved in designing and managing the system?