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HRM Compensaton/Benefits
Write a one-page (250–300 words) overview about the company and detail the compensation and/or benefit issue(s) you selected for your Course Project. This refers to items 2 and 3 items listed under Course Project Overview above. This short paper is worth 50 points.
The course project relates to the compensation and benefit strategy of an organization. Students will select an organization that is experiencing challenges with its compensation and/or benefit program. Some examples where challenges exist within the organization's compensation and benefit plan could include a high rate of employee turnover, an inability to recruit talented employees due to lack of proper compensation, an inability to fund an adequate benefit program, an incentive program where few employees reach their objectives, an inadequately funded retirement system, or a retirement plan that does not offer proper investment choices. Your paper will be graded according to how well you meet the tasks below.
- Follow proper APA style/citations, grammar and punctuation, and so on. An APA tutorial is located on the HUB for assistance.
- Identify an organization with compensation or benefits challenges. It could be an organization with which you are familiar personally or through the media.
- Provide a detailed review of the compensation and/or benefit challenge (problem) at the organization. It is recommended that you concentrate on the principle compensation and/or benefit challenge(s) within a single organization, rather than a number of less important issues. Be careful to avoid selecting a topic that is too broad. At the same time, the challenge facing the organization should be broad enough to provide multiple strategies to help resolve the problem.
- Discuss the compensation and/or benefits strategies other organizations have utilized related to your challenge, along with a review of their success and failure. As an example, if you are interested in an employee assistance program and why usage is less than expected, detail the strategies other organizations have followed to improve participation and see a return on their investment. Information regarding other organizations should be gathered through a research process and consist with academic-quality materials rather than word-of-mouth information.
- Recommend the strategy you propose the organization should follow to address its compensation and/or benefit challenge. Explain why you have selected this strategy. Include research (theory) to substantiate your selection.
- Discuss impediments to this strategy, including any contingency plans that should be considered.
- Finally, detail how the strategy you propose would address the organization's challenge (as detailed in step 2 above) and its impact on both the organization and the employee. Include specific items that should be included in the action plan.
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