Reference no: EM131687216

Assignment 2: LASA 1-Designing Compensation Systems

When designing a compensation system for an organization, it is important to have a compensation philosophy which serves as a framework for making decisions about various components of the system.

Tasks:

One question to be addressed is how can your compensation program help the organization be successful (e.g., be able to attract and retain talented workers needed to be competitive in the marketplace)?

Some options for consideration include:

• Being an "employer of choice" in the industry
• Offering top salaries
• Putting more emphasis on benefits and less on salaries
• Establishing "pay for performance" systems
• Offering flexible in work hours, shifts, work rules, dress code, professional development/education policies
• Offering designer benefits
• ESPP (Employee Stock Purchase Plans)

Write an 8-10-page report discussing what factors you think should be considered when creating a compensation system for an organization and why. Include the organization you work for (past or present) and describe the organization's current compensation system. What would you change?

Make sure you write in a clear, concise, and organized manner; demonstrate ethical scholarship in accurate representation and attribution of sources; display accurate spelling, grammar, and punctuation.

Assignment 1: Discussion-The Role of Discretionary Benefits

Discretionary benefits fall into three broad categories: protection programs, paid time off, and services.

In this assignment, you will demonstrate your knowledge of discretionary benefits as part of the total compensation offered to an employee.

Tasks:

Your employees are asking for more discretionary benefits, and the organization has tasked you with researching potential options. Respond to the following:

• Construct a case either in favor of or against selected discretionary benefits. Use your experience, weekly readings, and other scholarly work to support your position.

Write your initial response in 300-500 words. Your response should be thorough and address all components of the discussion question in detail, include citations of all sources, where needed, according to the APA Style, and demonstrate accurate spelling, grammar, and punctuation

Do the following when responding to your peers:

• Read your peers' answers.
• Provide substantive comments by

o contributing new, relevant information from course readings, Web sites, or other sources;
o building on the remarks or questions of others; or
o sharing practical examples of key concepts from your professional or personal experiences

• Respond to feedback on your posting and provide feedback to other students on their ideas.
• Make sure your writing

o is clear, concise, and organized;
o demonstrates ethical scholarship in accurate representation and attribution of sources; and
o displays accurate spelling, grammar, and punctuation.