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.)
Guidelines for
Writing the Final Paper
·
Paper must be six to eight
double-spaced pages in length, exclusive of Title Page, References Page,
Appendix, References, Exhibits, etc.
·
Formatted according to APA
style as outlined in the approved APA style guide (including title page and
reference list).
·
Must address the topic of the
paper with critical thought.
·
Must include an introductory
paragraph with a succinct thesis statement.
·
Must conclude with a
restatement of the thesis and a conclusion paragraph.
·
Must utilize a minimum of four
scholarly references.
