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Evaluate the current pay structure used by your company

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Reference no: EM132241151

Assignment: Compensation Plan Outline

Using the same company you researched in Assignment, evaluate the company's compensation plan to determine how it could be improved.

Write a six to eight (6-8) page paper in which you:

1. Evaluate the existing compensation plan to determine if it is the most appropriate for your company. Explain your rationale.

2. Determine the most beneficial ratio of internally consistent and market consistent compensation systems for the company you selected.

3. Evaluate the current pay structure used by your company and assess the recognition of employee contributions.

4. Make two (2) recommendations for improving the effectiveness of the discretionary benefits provided by the company you selected.

5. Evaluate the types of employer-sponsored retirement plans and health insurance programs provided by the company you selected and compare them to that company's major competitors.

6. Use at least three (3) quality references.

Your assignment must follow these formatting requirements:

- This course requires use of new Strayer Writing Standards (SWS). The format is different than other Strayer University courses. Please take a moment to review the SWS documentation for details.
- Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; references must follow SWS or school-specific format. Check with your professor for any additional instructions.
- Include a cover page containing the title of the assignment, the student's name, the professor's name, the course title, and the date. The cover page and the reference page are not included in the required page length.

The specific course learning outcomes associated with this assignment are:
- Evaluate the effectiveness of traditional bases for pay (seniority and merit) against incentive-based and person-focused compensation approaches.
- Compare and contrast internally consistent and market-competitive compensation systems.
- Evaluate the role of benefits in strategic compensation.
- Use technology and information resources to research issues in compensation management.
- Write clearly and concisely about compensation management using proper writing mechanics.

Verified Expert

Some complicated issues relating to compensation system of a company has been addressed. These issues were in the areas of effectiveness of compensation system;internally consistent compensation system vs market consistent compensation systems, health insurance benefits, employer retirement benefits etc.Recommendations have been made. Detailed analysis has been done.

Reference no: EM132241151

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Reviews

len2241151

2/23/2019 4:44:57 AM

6. 3 references Weight: 5% No references provided Does not meet the required number of references; all references poor quality choices. Does not meet the required number of references; some references poor quality choices. Meets number of required references; all references high quality choices. Exceeds number of required references; all references high quality choices. 7. Clarity, writing mechanics, and formatting requirements Weight: 10%

len2241151

2/23/2019 4:44:50 AM

5. Evaluate the types of employer-sponsored retirement plans and health insurance programs provided by the company you selected and compare them to that company’s major competitors. Weight: 15% Did not submit or incompletely evaluated the types of employer-sponsored retirement plans and health insurance programs provided by the company you selected. Did not submit or incompletely compared them to that company’s major competitors. Insufficiently evaluated the types of employer-sponsored retirement plans and health insurance programs provided by the company you selected and insufficiently compared them to that company’s major competitors. Partially evaluated the types of employer-sponsored retirement plans and health insurance programs provided by the company you selected and partially compared them to that company’s major competitors.

len2241151

2/23/2019 4:44:42 AM

4. Make two (2) recommendations for improving the effectiveness of the discretionary benefits provided by the company you selected. Weight: 20% Did not submit or incompletely made two (2) recommendations for improving the effectiveness of the discretionary benefits provided by the company you selected. Insufficiently made two (2) recommendations for improving the effectiveness of the discretionary benefits provided by the company you selected. Partially made two (2) recommendations for improving the effectiveness of the discretionary benefits provided by the company you selected. Satisfactorily made two (2) recommendations for improving the effectiveness of the discretionary benefits provided by the company you selected. Thoroughly made two (2) recommendations for improving the effectiveness of the discretionary benefits provided by the company you selected.

len2241151

2/23/2019 4:44:36 AM

3. Evaluate the current pay structure used by your company and assess the recognition of employee contributions. Weight: 20% Did not submit or incompletely evaluated the current pay structure used by your company and did not submit or incompletely assessed the recognition of employee contributions. Insufficiently evaluated the current pay structure used by your company and insufficiently assessed the recognition of employee contributions. Partially evaluated the current pay structure used by your company and partially assessed the recognition of employee contributions. Satisfactorily evaluated the current pay structure used by your company and satisfactorily assessed the recognition of employee contributions. Thoroughly evaluated the current pay structure used by your company and thoroughly assessed the recognition of employee contributions.

len2241151

2/23/2019 4:44:32 AM

2. Determine the most beneficial ratio of internally consistent and market consistent compensation systems for the company you selected. Weight: 15% Did not submit or incompletely determined the most beneficial ratio of internally consistent and market consistent compensation systems for the company you selected. Insufficiently determined the most beneficial ratio of internally consistent and market consistent compensation systems for the company you selected. Partially determined the most beneficial ratio of internally consistent and market consistent compensation systems for the company you selected. Satisfactorily determined the most beneficial ratio of internally consistent and market consistent compensation systems for the company you selected. Thoroughly determined the most beneficial ratio of internally consistent and market consistent compensation systems for the company you selected.

len2241151

2/23/2019 4:44:25 AM

Proficient 80-89% B Exemplary 90-100% A Satisfactorily evaluated the existing compensation plan to determine if it is the most appropriate for your company. Satisfactorily explained your rationale. Thoroughly evaluated the existing compensation plan to determine if it is the most appropriate for your company. Thoroughly explained your rationale.

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