HRM 595 Week 4 DQ 2
In this work of HRM 595 Week 4 Discussion Question 2 you will find the next information:
Complete the attached compensation planning form for your organization for the position of Director - Human Resources.
Under the compensation philosophy the first column in red shows the totals the competition pays for that position on a monthly and yearly bases.
Step one - identify your compensation philosophy of less than, equal to or greater than the competition and circle your selected philosophy.
Step Two - determine the salary ranges and levels based on your compensation philosophy and then enter the information in the form.
Step three - identify what benefits you will include in your compensation package. You will see costs for each benefit. Enter the monthly and yearly costs in the space provided.
Step four - Add your total salary costs and total benefit costs to get the total compensation costs.
Explain your rational for your decisions. How do your decisions meet your compensation philosophy. How will your compensation plan help you attract and retain employees?