Describe the compensation philosophy

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Reference no: EM131235441

Overview

Many businesses and organizations large enough to require human resource management (HRM) will need someone that not only understands core human resource (HR) responsibilities, but also understands the vision and mission of the organization.

To align the core HR requirements of an organization with its strategic plan, you will conduct an HRM review of an organization in a case study. Be creative in assembling each of the individual components or HR tools to the HRM review so that they would be consistent with and add value to the organization. Complete the HRM review that illustrates how each of the HR tools plays a role in an organization's overall strategic plan.

The project is divided into four milestones, which will be submitted at various points throughout the course to scaffold learning and ensure quality final submissions. These milestones will be submitted in Modules Two, Three, Four, and Five. Your comprehensive proposal will be submitted in Module Seven.

This assessment addresses the following course outcomes:

- Explain core concepts of human resource management common in today's global workplace for promoting shared values throughout an organization

- Describe human resource management practices and theories that align to and promote the organization's vision, mission, and business

- Illustrate the functions of a human resource manager for ensuring alignment with the organization's strategic plan

- Explain modern human resource concepts and principles that are essential in a changing work environment

Prompt

In this assessment, you will review the human resource management (HRM) in an organization through a case study. This case study will give you the opportunity to explore various roles and processes within the human resources profession. A key skill for any professional working in human resources is the ability to develop and implement processes that align with a company's strategic plan and mission.

I. HRM Functions and Practices

A. Explain why the human resource (HR) function should be aligned with an organization's strategic plan.

B. Explain how current global conditions in this industry impact human resource management (HRM) practices within organizations.

II. Staffing

A. Describe a process to recruit and select new employees who are aligned with the organization's vision and goals from the case study.

B. Compare and contrast recruitment and selection of internal versus external candidates using best practices from the Society for Human
Resource Management (SHRM) website. Refer to the Research and Metrics page for helpful resources. You may want to consider which method of recruitment would be most beneficial to this organization.

III. Training

A. Describe the components of a needs assessment used to determine the training requirements of the organization.

B. Explain the importance of developing learning activities. Be sure to incorporate adult learning principles and methods of experiential learning from this course.

C. Illustrate the value of a training needs assessment in an organization. Support your response.

D. Describe the importance of creating SMART objectives for a training plan.

IV. Compensation

A. Describe the compensation philosophy. How does the market influence this philosophy?

B. Determine the value of salary surveys and describe the advantages of discretionary benefits.

V. Evaluation

A. Determine the HRM's role in the performance management process. How can you ensure the process aligns with the organization's strategic plan?

B. Differentiate between various performance appraisal systems. Provide an example where one would be more applicable.

C. How do you identify best-suited appraisals for employee job duties? Support your response with an example.

D. Identify a variety of performance rating scales that can be used in organizations that includes graphical scales, letter scales, and numeric scales. Describe each scale.

Reference no: EM131235441

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