Developing a Compensation and Benefits Plan for Effective and Strategic Human Resources
MAJOR ASSIGNMENT: You will write a 750 – 1,500-word Human Resources (HR) Compensation and Benefits plan and reflection paper that describes how an employee and organizational experience is influenced by different compensation and benefit types and processes as well as reflect on your own behavior and learning to enhance your value within the HR industry and department. You will be assessed based on thoughtful, convincing, insightful, and exploratory writing and reflection, a strong connection between the experience and the learning or insights gained, and the use of specific detail and narrative accounts that convey an understanding of the experience supported by course material and Connect chapter assessment results. This paper gives you the opportunity to demonstrate your ability to apply concepts from the course to analyze real organizational problems and develop appropriate solutions using what you have learned. Utilizing case studies in this way provides real-world practice without the risk, and the deliberate application of skills and knowledge to determine what, how, when, and why it works in the case scenario. This reflection will also allow you to apply your learnings to other teams and individual developmental settings.
Other questions to answer in paper:
What is compensation?
What are employee compensation components and provide examples? Describe the employee compensation types?
Importance of employee competence
How do you determine employee compensation?
What are the employee compensation policy regulations? Greatest lesson learned
Potential Outline:
I. Introduction
II. Preplan Activities
Prior to preparation of your plan, it is important to engage in a certain amount of self- examination and reflection. Preplanning should also involve a review of key concepts presented throughout the text. Are you ready to take the steps needed? Do you understand how your personal values were formed and how they influence your ethical choices?
III. Preparing the Plan
The plan should include the following sections:
a. Defining success. Describe the model of success
b. Determining the role of nonfinancial and financial resources.
d. Planning for changes in your organization.
e. Developing a strategic value to plan proposed compared to business mission/vision.
IV. Stakeholders Buy-in
V. Steps for execution
VI. Evaluation
VII. Professional and Personal Reflection- Lessons learned
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