Assignment 2: Compensation Plan Outline Due Week 8 and worth 300 pointsUsing the same company you researched in Assignment 1, evaluate the company’s compensation plan to determine how it could be im

Assignment 2: Compensation Plan OutlineDue Week 8 and worth 300 points

Using the same company you researched in Assignment 1, evaluate the company’s compensation plan to determine how it could be improved.

Write a six to eight (6-8) page paper in which you:

1. Evaluate the existing compensation plan to determine if it is the most appropriate for your company. Explain your rationale.
2. Determine the most beneficial ratio of internally consistent and market consistent compensation systems for the company you selected.
3. Evaluate the current pay structure used by your company and assess the recognition of employee contributions.
4. Make two (2) recommendations for improving the effectiveness of the discretionary benefits provided by the company you selected.
5. Evaluate the types of employer-sponsored retirement plans and health insurance programs provided by the company you selected and compare them to that company’s major competitors.
6. Use at least three (3) quality references. Note: Wikipedia and other websites do not qualify as academic resources.