Assignment: Compensation Trends

Assignment: Compensation Trends

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To reward seniority rather than performance, and because of the job evaluation system, compensation is tightly compressed. Benefits are thought to be generous in that the company pays for most of the cost. However, the structure of the benefits is rigid and only includes such traditional benefits as health insurance, life insurance, and a 401(k) plan. The company recognizes that things are changing in its business environment, the needs of its people are changing, and business is more global than in the past. As part of the ongoing analysis of trends that should influence the redesign of HRM in the company, what are the relevant trends in compensation and benefits to which the company should pay the most attention to develop the kind of employees it needs and retain its most valuable performers? To answer this question, address the prompts:

Write a report including the following:

Week 4 Project

​Write your introduction here. It should be 1 to 2 good paragraphs that introduce the reader to your topic and it should explain in detail what your paper will be discussing. Much of your introduction may be taken from the assignment itself (in your own words). Read the scenario to get a feel for what the paper is about and explain what your paper will be discussing. Remember, this document is just a template. You will want to review the assignment AND rubric for full details. Finally, please ask me any questions about this assignment.

Compensation Trends

Evaluate at least three trends or recent approaches in compensation that SEIIC should consider in its redesign effort, including the pros and cons of each.

Benefits Trends

Evaluate at least three trends or recent approaches in benefits that SEIIC should consider in its redesign effort, including the pros and cons of each.

Motivators

​Assess other intrinsic and extrinsic motivators that SEIIC should consider in its redesign effort, including pros and cons of those motivators.

Action Plan

​Using your evaluation in the previous three sections (compensation, benefits, and intrinsic/extrinsic motivators), justify an action plan to develop and retain valuable performers in the organization.

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