PLO CT (Critical Thinking) Creates innovative approaches and solutions to existing or emerging challenges in human resources by developing processes and procedures that cover functional areas for managing human capital
The objective of this assignment is to ensure you are clearly and accurately defining and explaining the concepts and theories, plus identifying relationships which enable your business solution’s acceptance and implementation. You will accurately demonstrate this through understanding of context; using compelling content and skillful use of language; and based on high- quality, credible, relevant sources to skillfully communicate meaning with clarity and fluency. Remember, be sure the team’s work utilizes directions or instructions or guidelines that are clear, and makes the content cohesive.
Your company’s compensation targets meeting the market, and you also provide a full range of traditional benefits, medical, dental, vision, etc. You are hearing increasing complaints from your employees that the benefits and compensation are not addressing the growing problem of reduced motivational incentive for the changing workforce and market. At the same time, costs are rapidly increasing.
As the HR Vice President you have been tasked with ensuring the current benefits and compensation plans are comparable to an organization that is similar to your current organization or a competitor. The issue seems to be really one of total compensation. How will you ensure the workforce is receiving the appropriate benefits and compensation?
The HR VP has tasked you, the Benefits Manager, and your peer the Compensation Manager, to ensure the plans are internally and externally equitable; organizationally appropriate, and sufficiently detailed.
Draft a benefits and compensation plan for your organization. Ensure you have captured your types of employees and the packages that correspond with the employee needs, expectations and market. Keep in mind that benefits can be intangible, such as work life balance policies, which you may want to include. (Reminder that you are expecting major changes in the organization which will probably substantially change your organization’s demographics and requirements.)
Provide a 3-4 page (APA Format) written paper that outlines your Benefits and Compensation plan and its communication. In conclusion, describe how you developed your solution and why it is the most appropriate of your choices.