Write a research paper in which you address the compensation and benefits of a selected organization, based on information you have gathered and analyzed about the organization.
Structuring and communicating a total compensation package that meets regulatory requirements and the needs of the workforce requires a delicate balancing act between what is required and what will contribute to an effective relationship between employer, employee, and the community in which the company operates. Communicating benefits programs to employees can be as important as the benefits themselves. Knowing how to leverage all available compensation options is a necessary skill for any HR professional.
By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:
Apply human resource strategies to business needs. Analyze the costs of employee benefits to a company. Explain how benefits are communicated to employees. Analyze issues related to compensation and benefits packages organizations face. Examine core functions of Human Resource Management. Describe types of employee compensation. Explain the differences between benefits that are legally mandated and those that are voluntary. Appreciate the strategic value of HRM within a competitive global business environment. Explain the role of benchmarking activities in developing a competitive compensation structure. Describe environmental factors that can influence the compensation and benefits offered by an organization.
Choose an organization to use for this assessment. It can be where you are currently employed or a company with which you are familiar. It must be an organization that is researchable, as you will need to gather and analyze information in order to complete the assessment. You may use the same organization for the other assessments in this course. If you choose the organization where you are currently employed, please keep in mind that the analyses you make must be based on facts that can be documented rather than your personal opinion as an employee. Research the compensation and benefits of your selected organization. These topics are fluid and ever-changing, Please search for sources published within the last 1–2 years for your assessment as you describe the compensation and benefits programs your chosen organization offers. Deliverable Based on your research into the compensation and benefits of the organization you selected, write a research paper in which you complete the following:
Describe the formal pay structure within the organization. Describe any benchmarking activities the organization undertakes, including information on whether the organization offers a competitive compensation structure or incentives. Describe any profit sharing or stock ownership programs that are available. Explain which benefits offered by the organization are legally mandated and which are voluntary. Analyze the cost of the benefits to the organization. Explain how benefits are communicated to employees. Analyze the environmental factors that have influenced the compensation and benefits of the organization. Describe any problems associated with the compensation policies of the organization. Analyze any current issues related to compensation and benefits faced by the organization. Please note: You must address all the required elements of this assessment. If details for any of the bulleted points are unavailable, research the topic and present recommendations you believe would be best for the organization, along with your supporting rationale.