What is the role and benefit to an organization of a compensation plan?

Posted: July 4th, 2022

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Assignment Details
Your organization recently merged with another organization. The HR manager of compensation and benefits, the new leadership team resulting from the merger, has come to you with concerns pertaining to the current compensation policies. The senior leadership team has specifically expressed concern over the ability of the organization to hire and retain a competitive workforce due to outdated policies. Your task is to research and develop an updated compensation philosophy that aligns with the new core values of the organization, which focus on customer service, quality production, employee recruitment, and retention. You have been given 3 months to complete your analysis and present your recommendations to the leadership team.
Your presentation should include the following considerations:
What is the role and benefit to an organization of a compensation plan?
Provide a minimum of 3 factors to consider in identifying the needs of a compensation package.
What type of pay system do you recommend and why? Review the pay theories in Chapter 6 of your course textbook, and identify the 1 that bests support your pay system recommendation.
In addition to your pay recommendation, provide 2 additional policy recommendations. Include in your recommendation the legal implications that you have considered in making your recommendations.
Prepare a presentation that will be shared with the senior leadership team. The presentation should focus on practices that the organization can implement (a minimum of 15 slides with notes).
Submitting your assignment in APA format means, at a minimum, you will need the following:
Title slide: Remember the running head. The title should be in all capitals.
Length: 15 slides minimum
Body slides: This begins on the slide following the title slide and must be double-spaced (be careful not to triple- or quadruple-space between paragraphs). The typeface should be 12-pt. Times Roman or 12-pt. Courier in regular black type. Do not use color, bold type, or italics, except as required for APA-level headings and references. The deliverable length of the body of your presentation for this assignment is 15 slides. In-body academic citations to support your decisions and analysis are required. A variety of academic sources is encouraged.
Reference slide: References that align with your in-body academic sources are listed on the final slide of your presentation. The references must be in APA format using appropriate spacing, hanging indent, italics, and uppercase and lowercase usage as appropriate for the type of resource used. Remember, the Reference slide is not a bibliography but a further listing of the abbreviated in-body citations used in the paper. Every referenced item must have a corresponding in-body citation.

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