w08a1 – Effective Compensation Plans
Summary
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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:
1. Research the components of an effective compensation plan. 2. Determine the most beneficial ratio of internally consistent and market consistent compensation systems.
Be sure your narrative is in your own words.
3. Research the methods companies use to assess employee satisfaction with their pay structure. 4. Outline how companies determine whether their employer-sponsored retirement plans and health insurance programs are competitive. 5. 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.
6. 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.
7. 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.
The specific course learning outcome associated with this assignment is:
Determine the components of an effective compensation plan, including discretionary benefits.
Scoring Guide
Research the components of an effective compensation plan. 15 %
Unacceptable
Did not submit or incompletely researched the components of an effective compensation plan.
Needs Improvement
Insufficiently researched the components of an effective compensation plan.
Satisfactory
Partially researched the components of an effective compensation plan.
Competent
Satisfactorily researched the components of an effective compensation plan.
Exemplary
Thoroughly researched the components of an effective compensation plan.
Determine the most beneficial ratio of internally consistent and market consistent compensation systems. 15 %
Unacceptable
Did not submit or incompletely determined the most beneficial ratio of internally consistent and market consistent compensation systems.
Needs Improvement
Insufficiently determined the most beneficial ratio of internally consistent and market consistent compensation systems.
Satisfactory
Partially determined the most beneficial ratio of internally consistent and market consistent compensation systems.
Competent
Satisfactorily determined the most beneficial ratio of internally consistent and market consistent compensation systems.
Exemplary
Thoroughly determined the most beneficial ratio of internally consistent and market consistent compensation systems.
Research the methods companies use to assess employee satisfaction with their pay structure. 20 %
Unacceptable Needs Improvement Satisfactory Competent Exemplary
Did not submit or incompletely researched the methods companies use to assess employee satisfaction with their pay structure.
Insufficiently researched the methods companies use to assess employee satisfaction with their pay structure.
Partially researched the methods companies use to assess employee satisfaction with their pay structure.
Satisfactorily researched the methods companies use to assess employee satisfaction with their pay structure.
Thoroughly researched 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. 20 %
Unacceptable
Did not submit or incompletely outlined how companies determine whether their employer- sponsored retirement plans and health insurance programs are competitive.
Needs Improvement
Insufficiently outlined how companies determine whether their employer- sponsored retirement plans and health insurance programs are competitive.
Satisfactory
.Partially outlined how companies determine whether their employer- sponsored retirement plans and health insurance programs are competitive.
Competent
Satisfactorily outlined how companies determine whether their employer- sponsored retirement plans and health insurance programs are competitive.
Exemplary
Thoroughly outlined how companies determine whether their employer- sponsored retirement plans and health insurance programs are competitive.
Recommend two high value discretionary benefits to employees. 15 %
Unacceptable
Did not submit or incompletely recommended two high value discretionary benefits to employees.
Needs Improvement
Insufficiently recommended two high value discretionary benefits to employees.
Satisfactory
Partially recommended two high value discretionary benefits to employees.
Competent
Satisfactorily recommended two high value discretionary benefits to employees.
Exemplary
Thoroughly recommended two high value discretionary benefits to employees.
Integrate 3 quality references. 5 %
Unacceptable
No references provided.
Needs Improvement
Does not meet the required number of references; all references poor quality choices.
Satisfactory
Does not meet the required number of references; some references poor quality choices.
Competent
Meets number of required references; all references high quality choices.
Exemplary
Exceeds number of required references; all references high quality choices.
Clarity, writing mechanics, and formatting requirements. 10 %
Unacceptable
More than 8 errors present.
Needs Improvement
7–8 errors present.
Satisfactory
5–6 errors present.
Competent
3–4 errors present.
Exemplary
0–2 errors present.
w04a1 – Compensation Strategies, Best Practices, and Challenges Presentation
Summary
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For this assignment, assume you are a compensation analyst in a large financial services company. You have been in your role for almost a year. At your weekly one-on-one with your boss, she tells you that the human resources representatives at the company are fielding a number of questions from employees and applicants about compensation. The human resource representatives’ knowledge of compensation is not deep.
She asks that you prepare and deliver a 10- to 15-minute PowerPoint presentation (10–15 slides) at an upcoming departmental meeting that provides basic information about what is going on in the compensation field today. Specifically she wants you to address compensation strategies that companies employ, note three of their best compensation practices, and examine three compensation challenges today’s companies are facing.
Develop and deliver a 10–15 minute audio PowerPoint presentation (10 to 15 slides) in which you:
1. Analyze the compensation strategies companies use to attract and retain talent. 2. Determine three best compensation practices used by companies.
Be sure to provide your rationale for selecting these best practices as opposed to others.
3. Examine three compensation-related challenges companies face.
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