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Describe legally required benefits and the various kinds

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Reference no: EM132640394

Assignment: Part 1: Direct Financial Compensation (Monetary Compensation)

Learning Objectives: • Summarize the usual components of a total compensation plan and the environment of compensation practice.

• Explain the direct financial compensation practices.

• Discuss job structures and how they are established.

• Summarize competitive pay policies: pay level and pay mix.

• Explain what pay structures are and how they are created.

• Review exceptions to the rules: compensation for sales representatives, contingent workers, and executives.

Part 2: Indirect Financial Compensation (Employee Benefits)

Learning Objectives:

• Define indirect financial compensation (employee benefits).

• Describe legally required benefits and the various kinds.

• Define discretionary benefits and explain the various types.

• Explain workplace flexibility (work/life balance).

• Describe customized benefit plans.

• Summarize the issues of communicating information about benefit plans.

1. Describe in a brief essay what say-on-pay policies and claw back policies are. Why do corporations implement these policies?

2. In a brief essay, discuss some of the reasons why companies chose to offer employee benefits. Also, discuss the reasons the U.S. government established particular legally required benefits.

Expectation: - essay form (narrative form) no Bullet points should not to be used

- at least 1.5 - 2 pages in length, Times New Roman 12-pt font, double-spaced, 1 inch margins and utilizing

- 2 outside scholarly or professional source related to human resource management.

- APA formatting and citation should be used.

- Textbook : Title: Human Resource Management , ISBN: 9780134739724 Authors: Martocchio Publisher: Pearson Edition: 15TH 19

Reference no: EM132640394

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