Strayer University Components of An Effective Compensation Plan Discussion

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JWI 520: People ManagementAcademic Submissions and Evaluations© Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University. This course guide is subject to change based on the needs of the class.JWMI 520 – Assignment 4 (1188)Page 1 of 5 Assignment 4: Talent Engagement ExerciseDue Week 6, Sunday, midnight of your time zone (Weight: 10%)IntroductionPart of the power of understanding your top employees as “Talent” is the ability to assess their potential in light of their performance and values. The use of a simple Talent matrix can make the assessment process very powerful. This process also helps you to analyze your team and to plan for management of each employee in the future. Jack Welch believes that effective talent management requires you to divide up your people into three levels: the top 20%, the middle 70%, and the bottom 10%. It is important to provide leadership development options to the top 20% of employees early in their careers, since they will be your future leaders. Type 1:High Performance, High ValuesType 4:High Performance, Low ValuesType 2:Low Performance, Low ValuesType 3:Low Performance, High ValuesJWI 520: People ManagementAcademic Submissions and Evaluations© Strayer University. All Rights Reserved. This document contains Strayer University confidential and proprietary information and may not be copied, further distributed, or otherwise disclosed, in whole or in part, without the expressed written permission of Strayer University. This course guide is subject to change based on the needs of the class.JWMI 520 – Assignment 4 (1188)Page 2 of 5 One tool used to support the Welch approach to talent management is a matrix based on four different combinations of performance and values. Look carefully at the Four Quadrants Matrix shown here and read the descriptions of the type of employee who fits in each quadrant, in terms of performance and values. InstructionsThis exercise is designed to give you practical experience in using the Four Quadrants Matrix to differentiate your employees and to make plans for managing your employees in the future.Use the Four Quadrants Matrix above as a framework to assess your direct reports in yourcurrent workplace. If you have no direct reports, use a group of individuals with whom you are familiar. Create a Talent Engagement Chart like the one below, with a row for each employee.•Include 4 to 6 employees in your chart•Define the values you will use to assess your employees•Use first names only and change the names if you wish•For each individual, create a row in the chart Your task is to select one Quadrant for each employee and to indicate the Type that you chose in the Positioning column. Then write a Rationale statement of 4 to 6 paragraphs for your team, explaining why you positioned them in the selected quadrants and indicating your plans for managing each of them in the future. Record your findings using the format shown in the example below, which is provided to guide you in this exercise