You will use your textbook and the independent research you conduct to determine the components of an effective compensation plan
EFFECTIVE COMPENSATION PLANS
In this assignment, you will use your textbook and the independent research you conduct to determine the components of an effective compensation plan, one that includes more than just base salary. Specifically, you will write a 4–6 page paper in which you:
-Research the components of an effective compensation plan from your employer or a previous employer.
-Research the components of a competitor or similar business that you are currently employed with.
-Research the methods that both companies use to measure employee satisfaction with their pay structure.
-Outline how your company determine whether their employer-sponsored retirement plans and health insurance programs are competitive.
-Recommend two high value discretionary benefits to employees.
Be sure to include your rationale for selecting these high value discretionary benefits as opposed to others.
Example: Payment for time not worked, Surrogacy leave, adoption leave, menstrual leave, marriage leave
Employee services (credit union banking discount, baby sitting services, gym discounts, and etc.)
Funeral expenses
Festival or annual gifts
Premium pay
-Explain your rationale for which compensation plan would be the most effective post Covid – 19 and why.
(Integrate at least three quality resources using in-text citations and a reference page in your assignment.)
*Note: Wikipedia and similar websites do not qualify as quality resources.
Format your assignment according to the following formatting requirements:
This course requires the use of Strayer Writing Standards (SWS). For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course.
The preferred method is for your paper to be typed, double-spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
Include a cover page containing the assignment title, your name, your professor’s name, the course title, and the date. The cover page is not included in the required page length.
Include a source list page. Citations and references must follow SWS format. The source list page is not included in the required page length.
Answer preview to you will use your textbook and the independent research you conduct to determine the components of an effective compensation plan
APA
1270 words