Reference no: EM131314318 , Length: 4
Your company provides a full range of traditional benefits, medical, dental, vision, etc. You are hearing increasing complaints from your employees that these are not addressing the growing problem of reduced motivational incentive for the changing workforce.
As the HR Vice President you have been tasked with ensuring the current benefits plan is comparable to an organization that is similar to your current organization or a competitor. Alongside of benefits the compensation plan for the employees should be comparable, since the issue is really one of total compensation. How will you ensure the workforce is receiving the appropriate benefits and compensation?
The HR VP has tasked you the Benefits Manager and your peer the Compensation Manager to ensure the plans are internally and externally equitable; organizationally appropriate, and sufficiently detailed.
Draft a benefits and compensation plan for your organization. Ensure you have captured your types of employees and the packages that correspond with the employee needs, expectations and market. (Reminder per your final project instructions, that in 2018 you are expecting a mass exit of the Baby Boomer generation due to the change in Retirement benefits.)
Provide a 3-4 page (APA Format) written paper that outlines your Benefits plan and Compensation package and its communication. Make sure you include your employee groups and use key terms from Part 4 in your textbook. In conclusion, describe how you developed your solution and why it is the most appropriate of your choices.