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.
Determine the most beneficial internal and market-consistent compensation systems.
Be sure your narrative is in your own words.
Research the methods companies use to assess employee satisfaction with their pay structure.
Outline how companies 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.
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.
The previous week’s assignment preparation activity provides some suggested resources to help you begin your research. It also provides resources on avoiding plagiarism, appropriately integrating sources into your assignment, and using the Strayer Writing Standards.
Format your assignment according to the following formatting requirements:
This course requires the use of Strayer Writing Standards (SWS). The library is your home for SWS assistance, including citations and formatting. Please refer to the Library site for all support. Check with your professor for any additional instructions.
The specific course learning outcome associated with this assignment is:
Determine the components of an effective compensation plan, including discretionary benefits.
Optional Resources
LinkedIn Learning video: HR Foundations: Core Human Resources Course | Total Rewards to Attract, Retain, and Motivate EmployeesLinks to an external site. (4m2s) https://www.linkedin.com/checkpoint/enterprise/log…
Sage Business Case: Calculating Incentive Payments at Alpine Valley Skis: https://sk-sagepub-com.libdatab.strayer.edu/cases/…
Empowering people with data (a suggested database for compensation plan data: Statista): https://www-statista-com.libdatab.strayer.edu/
Statista Database (a resource guide for using the Statista database): https://library.strayer.edu/statista
