The Different Types of Compensation

The Different Types of Compensation

  • Submitted By: ddgrogg
  • Date Submitted: 12/22/2010 3:29 PM
  • Category: Business
  • Words: 2326
  • Page: 10
  • Views: 2


Group D Case Study: Wal-Mart Stores, Inc.

Group D

HRMG 4201-1 Strategic Human Resource Management

Instructor: Rita Williams-Bogar

Walden University

December 26, 2010

This essay is the collaborative effort of the following Walden University students assigned to ‘Group D’ for the Strategic Human Resource Management (HRMG-4201-1/MGMT-4120-1) course:
Claudine Baggett (Compiler), John Foy, Donald Grogg, Carol Latimer (Editor), Michael Moses (Organizer) and Latisha Schofield (Poster). All group members were responsible for the research efforts.
The purpose of this paper is to identify and discuss the different types of compensation that are currently being provided by Wal-Mart. Initially the strategic fit of the existing compensation program is discussed as well as recommended changes to the existing program. Along with the types of compensation that are provided, how the company compares itself to it industries competitors are also discussed. Direct and indirect compensation is discussed as well as the types of compensation programs that Wal-Mart needs. Finally, health care coverage and the cost of such coverage are addressed.

Group D Case Study: Wal-Mart Stores, Inc.

Wal-Mart Stores, Inc was the brainchild of Samuel Walton. He opened the first Wal-Mart in 1962 with his brother (Anthony et al, 2010). It has certainly been a successful venture for Mr. Walton as Wal-Mart was named America’s largest retailer by 1990 (Anthony et al, 2010). He was able to do this because of the partnership culture he has created between Wal-Mart and its associates. Part of this culture includes a comprehensive benefits package, which will be discussed now.
Existing Compensation Systems
At Wal-Mart, the compensation system, a pay for performance system, is designed to attract associates who are motivated to stay with the company for long periods and strive for advancement....

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