Get a Custom Essay Paper that meets your expectations by clicking ORDER
Employee Compensation and Benefits
This assignment consists of two (2) sections: a narrative and a PowerPoint presentation.
You must submit two (2) sections for the completion of this assignment. Label each file name according to the section of the assignment it is written for.
Imagine that you have just been hired by a new company as the director of the HR department. You have been tasked to hire a new secretary for the department and to develop an employee compensation and benefits package that will be used for that position upon hire.
Develop a PowerPoint presentation to present this information to your Vice President. Go to the Bureau of Labor Statistics’ (BLS) Website, located at www.bls.gov, for information regarding organizations and pay in your geographical area.
Section 1: Narrative
Write a two to three (2-3) page paper in which you:
- Choose the type of organization for which you are designing the package.
- Develop an employee compensation and benefits package for this new position. Support your ideas for the compensation/benefits package.
- Use at least three (3) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources.
Section 1 of your assignment must follow these formatting requirements:
- Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA 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 assignment page length.
Section 2: Presentation
Create a twenty (15) slide PowerPoint presentation in which you:
4. Provide an overview of the employee compensation and benefits package that you developed in the narrative portion of this assignment.
5. Determine if the employee will be exempt or nonexempt and discuss how overtime will be handled.
6. Suggest other benefits that might be considered within the next few months to enhance employee performance and provide job motivation.
7. Provide information on how government regulations will influence the compensation.
8. Examine data from two (2) organizations listed in the BLS Website with packages similar to yours, focusing on salary, compensation, and benefits in order to convince upper management that your package should be accepted and implemented.
9. Describe how the competitive compensation and benefits package will align with the HRM strategy,
Below is a partial answer to the above homework questions by one of our writers. If you are interested in a custom non plagiarized top quality answer, click order now to place your order.
Employee Compensation and Benefits
Employee Compensation and Benefits – Section 1: Narrative
This paper looks into a case scenario where the Director of the Human Resources Department has to hire a new secretary. The organization is a new enterprise, as is the Director. The Director faces a task of developing a suitable employee compensation and benefits package for the new position of secretary. The Director has to provide a comparative analysis of the proposed compensation and benefits package alongside those offered by other similar firms in the same geographical region. The focus of the assignment is on the design of a compensation and benefits package for employees, with regard to its competitiveness and alignment to the organization’s HRM strategy.
Type of organization
The organization within this case scenario is one that engages in manufacturing. The core business of the firm is in the production of goods for sale in the state and the entire country. The firm needs a new employee despite the reduction in employment rates within the manufacturing sector (Bureau of Labor Statistics, 2017). Therefore, there is a need to design a compensation and benefits package for the new position as addressed below.
New position
The organization seeks to hire a new secretary in the Human Resources department. Since the organization is new, there is a need to create a compensation and benefits package for the new position. Research on the importance of competitive compensation and benefits packages states that the alignment of HRM strategies and employee benefits produces better firm results and increases overall performance (L’Écuyer & Raymond, 2017). As such, there is a need to develop competitive packages aligned with the HRM strategies as a measure to improve the overall performance of the organization.
Developing an employee compensation and benefits package for this new position
The HRM Strategy
As observed earlier, in order to design an appropriate compensation and benefits package for the new position at the organization, the firm needs to align their HRM strategy to the compensation and benefits offered. This alignment should lead to increased performance of the individuals as well as the organization. The HRM strategy, with regard to employment compensation and benefits, is one where the firm targets to create competitive remuneration and benefits packages that are in tandem with regulations and industry standards.
In addition, the compensation and benefits offered need to be strategic, such that they are within the cost limitations of the organization, while being more inviting than those offered by other firms within the same geographical region.
Get a Custom Essay Paper that meets your expectations by clicking ORDER
