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BUS 434 Week 5 Final Paper Holland Enterprises Compensation and Benefit System
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BUS 434 Week 5 Final Paper Holland Enterprises Compensation and Benefit System
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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.
In the final project, you are to 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.
Focus of the Final Paper
Specifically, in your role as a consultant for this organization, complete a 6-8 page Final Paper on the following:
Discuss how an effective compensation and benefit system contributes to organizational effectiveness.
Discuss the principle components of a typical compensation and benefit system for a large-scale organization. At a minimum, your compensation and benefit system would include a discussion on:
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.)
Finally, present your strategy to convince the already skeptical top managers of this organization to increase their compensation and benefit expenses.
Writing the Final Paper
The Final Paper:
Must be six to eight double-spaced pages in length and formatted according to APA style as outlined in the approved APA style guide.
Must include a cover page that includes:
Student’s name
Course Name and Number
Title of Paper
Instructor’s Name
Date submitted
Must include an introductory paragraph with a succinct thesis statement.
Must address the topic of the paper with critical thought.
Must conclude with a restatement of the thesis and a conclusion paragraph.
Must use APA style as outlined in the approved APA style guide to document all sources.
Must include, on the final page, a Reference Page that is completed according to APA style as outlined in the approved APA style guide.
Carefully review the Grading Rubric for the criteria that will be used to evaluate your assignment.
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BUS 434 Week 5 DQ 2 Benefit Packages
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BUS 434 Week 5 DQ 2 Benefit Packages
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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.
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BUS 434 Week 5 DQ 1 Executive Compensation
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BUS 434 Week 5 DQ 1 Executive Compensation
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The growing compensation inequity between executive management and the average employee threatens to destabilize organizational morale and societal justice.
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BUS 434 Week 4 Quiz
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BUS 434 Week 4 Quiz
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1. The National Association of Suggestion Systems claims that a dollar spent in rewarding suggestions will return ______ dollars in improved operations to the organization.
2. The size of a bonus received by an operating manager will quite often be determined by all but which one of the following criteria?
3. Which of the following statements is least descriptive of why many suggestion plans have failed?
4. Which one of the following is not a benefit to the employer when offering an ESOP?
5. In contrast to compensation systems in the private sector, those for government employees are less likely to include use of
6. Which one of the following statements is not true regarding a defined contribution plan?
7. Which of the following is not true about a well-designed incentive scheme?
8. All but which one of the following theories are included within content theories of motivation?
9. Employees of the federal government are eligible for
10. Which section of the Internal Revenue Code defines rights and opportunities for long-term compensation programs?
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BUS 434 Week 4 DQ 2 Performance Incentives
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BUS 434 Week 4 DQ 2 Performance Incentives
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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.
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BUS 434 Week 4 DQ 1 Performance Standards
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BUS 434 Week 4 DQ 1 Performance Standards
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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.
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BUS 434 Week 3 Quiz
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BUS 434 Week 3 Quiz
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1. The term “going rate” implies that there is
2. In the following array of data, which value is the 9th decile?
3. Many specialists who make extensive use of survey data believe that _______ values provide valuable information for establishing minimum and maximum pay values for a job or a grade.
4. The optimal number of pay grades to be included within a pay structure is
5. The term “sore thumbing” when applied to the job evaluation process relates to
6. The spread of a range within a pay grade will normally vary anywhere from _____ to _____ percent on either side of the midpoint of a pay scale.
7. A compensation scatter diagram plots the points or dots on a chart where each point represents a
8. Which one of the following statements best describes compensable factors?
9. Relatively new or different jobs in which demand far exceeds the supply of qualified applicants are known as
10. Which of the following job evaluation systems is the easiest to implement but potentially the most discriminating?
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BUS 434 Week 3 DQ 1 Job Evaluation Methods
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BUS 434 Week 3 DQ 1 Job Evaluation Methods
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There are two general types of job evaluation methods: those that investigate the job as a whole and those that investigate the job from a variety of components. Choosing one job evaluation method, examine how that method would be the preferable approach to attain comparable worth throughout the organization, and where it would not be the preferable approach. Respond to at least two of your classmates’ postings.
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BUS 434 Week 3 Assignment Employee Relations Manager Paper
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BUS 434 Week 3 Assignment Employee Relations Manager Paper
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The most effective compensation strategy is one that develops a clear link between:
Work that an employee is expected to perform (typically detailed in the job description);
Work that the employee performed (typically detailed in a performance evaluation);
and, finally, pay provided to each employee (typically determined through external survey and internal equity).
In a 2-3 page paper, examine and elaborate on the interrelationship between these three links. In presenting your analysis, it would be beneficial to:
Select one position or classification that you are familiar with (Administrative Assistant, Human Resource Manager, Maintenance Worker, etc);
Detail how pay is determined for this position or classification based on the duties they are expected to perform (job description) and the manner in which they performed these duties (performance evaluation).
Here’s an example:
I selected the position of Purchasing Manager.
The job description indicated the primary function of a Purchasing Manager is to plan, direct, and coordinate the activities of buyers, purchasing officers, and related workers involved in purchasing materials, products and services. Our organization’s performance evaluation system states employee performance is segmented into one of four categories: outstanding, exceeds expectations, meets expectations, and does not meet expectations. Those in the outstanding category receive a 6% increase, those in the exceeds category typically receive a 4% increase, those in the meet category typically receive a 2% increase. There is no increase for those who do not meet expectations.
The external analysis (salary survey, which you can typically obtain online) indicated the monthly salary range at $4300 – $5200.
The internal analysis (the relationship of this position to similar positions in your organization) indicated this position is similar to Accounting Manager, and should be paid within the same monthly salary range of $4400 – $4900.
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BUS 434 Week 2 Quiz
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BUS 434 Week 2 Quiz
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1. An organization’s _____________ describes in broad or general value-laden terms what the organization wishes to accomplish in the long term—the kind of product it intends to provide and how it intends to provide it.
2. Which one of the following jobs is not exempt from the minimum wage and overtime requirements outlined by the FLSA?
3. The 1935 National Labor Relations Act
4. The most common type of sales compensation plan is
5. In which one of the following job analysis methods would it be the easiest for employees with poor writing skills to provide job content data?
6. The Age Discrimination in Employment Act of 1967, as amended, prohibits discrimination on account of age against employees in what complete age range?
7. Job specification questionnaires provide information on
8. Combining groups of jobs for a particular organization into a specific class is accomplished based upon all of the following except
9. ERISA is associated with which of the following deferred income plans?
10. Establishing whether an employee is exempt from minimum wage and overtime requirements of the FLSA depends on
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BUS 434 Week 2 DQ 2 Job Description
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BUS 434 Week 2 DQ 2 Job Description
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The job description is often referred to as the building block of human resources. Nearly every employment action – recruitment, compensation, discipline, etc. – is predicated on an effective job description.Today, there is considerable debate whether job descriptions should be broader and more generic, versus narrow and more specific. Distinguish between the advantages and disadvantages of each approach, and which you see as the more preferable approach. Respond to at least two of your classmates’ postings.
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BUS 434 Week 2 DQ 1 Compensation System
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BUS 434 Week 2 DQ 1 Compensation System
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A basic premise of a market-based economy is that each individual has the opportunity – through education, experience, hard, work, etc. – to improve his or her job earning potential. As a result, some employees may enjoy greater earnings than their colleagues. Assess how an organization can create a fair, market-competitive compensation system that provides greater rewards for those who earn it, yet is viewed as fair and equitable by the organization. Respond to at least two of your classmates’ postings.
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BUS 434 Week 1 Quiz
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BUS 434 Week 1 Quiz
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1. All but which one of the following conditions will influence jobs and job-related opportunities in the future?
2. Which of the following is a noncompensation benefit rather than a compensation benefit?
3. An organization designs and implements a reward system to
4. Claims on goods and services made available and paid for either totally or in some percentage by the employer are
5. A company car, a company credit card, and subsidized food services are all examples of which one of the following forms of payment?
6. The financial strength to own your own home normally begins with entry into the
7. All but which one of the following assumptions are included within the model of perfect competition?
8. Approximately what percentage of workers are unionized?
9. Which one of the following is not considered as part of a compensation program?
10. Which one of the following states has the highest level of personal income?
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BUS 434 Week 1 DQ 2 Global Wage Rates
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BUS 434 Week 1 DQ 2 Global Wage Rates
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Wage rates in the United States are higher than similarly skilled workers in other countries such as China, Mexico and India. Consequently, many U.S. businesses have outsourced their manufacturing and production needs to take advantage of these lower wage rates. Discuss how, working collaboratively, the federal government and U.S. businesses can modify employee compensation packages to become more globally competitive. Respond to at least two of your classmates’ postings.
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BUS 434 Week 1 DQ 1 Employee Satisfaction
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BUS 434 Week 1 DQ 1 Employee Satisfaction
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Employee satisfaction relates directly to income obtained from work performed and the lifestyle opportunities made available to the workers and their families from this work-related income.” Elaborate on the link between work-related income and employee satisfaction in today’s workplace. Respond to at least two of your classmates’ postings
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