solved Greetings, Dr. Anderson and Classmates, Identify the type of Industry
Greetings, Dr. Anderson and Classmates,
Identify the type of Industry or sector in which you are interested in choosing a company for your Capstone Project. For example, tech, healthcare, manufacturing, hospitality, etc. Explain your choice.
I have been in the HR field for a long time now, and I want to take this as my opportunity to develop a project that I can apply to my profession. I want to improve the operation process in our organization, get recognition for it and move up in my career. In that regard, I choose the human resources service industry for my Capstone Project.Â
Identify a focus area you would like to develop in your Capstone Project. This can be a new product or service, an operational change that would result in significant cost reductions and/or quality or margin improvements, or a major branding or marketing initiative. Why did you select this focus area? What are some of the biggest challenges or opportunities organizations in this sector are facing right now?
I will focus on Compensation. I want to research and develop a solid salary structure that is essential for my organization to be internally equitable and externally competitive.
A robust salary structure is essential for the organization to retain and attract highly skilled employees. Also, reward the employees and motivate them for their hard work and dedication to help the organization develop, grow and be financially stable.
An organization with a weak salary structure loses its valuable employees to its competitor and cannot attract the required talent to the organization. As a result, they are never able to meet their business goals to survive the competitive market.Â
As you learn more about the CEO Mindset, what specific issues are you most excited about exploring in your Capstone Project?
As I learn more about the CEO mindset, the specific issue I am most excited about exploring in my Capstone Project is not to be afraid to be different and try out new techniques and technology to enhance the compensation structure. I want to be able to take risks regardless of their consequences.Â
References:
Duarte, Nancy (2019). Data Story: Explain Data and Inspire Action Through Story, USA: Idea Press Publishing.
JWI599 Week 1 EOP videos and Lecture Notes Â
Building a Market Based Pay Structure from Scratch https://www.shrm.org/resourcesandtools/tools-and-samples/toolkits/pages/buildingamarket-basedpaystructurefromscratch.aspx