BUS 434 Week 5 Final Paper

BUS 434 Week 5 Final Paper

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Final Paper

Attracting and retaining the most talented employees is essential for long-term organizational success. An important component to attracting and retaining such employees is the design and implementation of an effective compensation and benefit system.

Assume the role of a highly regarded human resource consultant hired to review, analyze, and revise the compensation and benefit system utilized by your city’s largest employer, Holland Enterprises. The firm employs 3,500 employees, but since 2007 has lost 25% of its staff. Exit interviews indicate the primary reason a majority of these employees have resigned is because of a compensation and benefit system that is perceived to be unfair and uncompetitive in the marketplace.

Present to the management a revised compensation and benefit strategy. Your proposal should include a discussion of:

How an effective compensation and benefit system contributes to organizational effectiveness.

The principle components of your revised compensation and benefit system for a large-scale organization as well as a recommendation for each component.

A convincing argument to the already skeptical top managers of this organization to increase their compensation and benefit expenses.

At a minimum, your compensation and benefit system would include the following components:

Compensation and benefit philosophy

Pay structure architecture (pay grades, pay ranges, and pay width)

Ratio of base pay to incentive (bonus) pay

Emphases on external equity or internal equity

Principle type of benefits to include (example: deferred compensation match, health insurance, vacation and sick leave, etc.)

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BUS 434 Week 5 DQ 2 Benefit Packages

BUS 434 Week 5 DQ 2 Benefit Packages

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Benefit Packages. Today’s globally competitive business environment has caused many U.S. businesses to reduce the value of their employee benefit packages. Examine how an organization can maintain its costly benefit structure while remaining competitive against countries whose companies do not offer such benefits. Respond to at least two of your classmates’ postings.

BUS 434 Week 5 DQ 1 Executive Compensation

BUS 434 Week 5 DQ 1 Executive Compensation

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Executive Compensation. Choose one of two statements below and

construct an argument supporting your position:

  1. The market trend towards escalating executive compensation reflects the critical importance of an

executive to an organization’s long-term viability.

  1. The growing compensation inequity between executive management and the average employee

threatens to destabilize organizational morale and societal justice.

Respond to at least two of your classmates’ postings.

BUS 434 Week 4 DQ 2 Performance Incentives

BUS 434 Week 4 DQ 2 Performance Incentives

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Performance Incentives. Compare and contrast when it would be preferable to motivate employee performance through short-term incentives versus long-term incentives, and vice-versa. Respond to at least two of your classmates’ postings.

BUS 434 Week 4 DQ 1 Performance Standards

BUS 434 Week 4 DQ 1 Performance Standards

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Performance Standards. Describe the relevance of performance standards for today’s knowledge-directed workers, and how their use will result in a more competitive compensation and benefit strategy. Respond to at least two of your classmates’ postings