Reference no: EM133611858

Homework: Compensation and Benefits

Description

Presents the dynamics involved in compensating employees for services rendered in a modern organization. This course focuses on the critical tools and techniques of job analysis, job descriptions, job evaluation, pay surveys, pay administration, and required benefits.

Textbook: Milkovich, G. T., Newman, J. M., & Gerhart, B. (2020). Compensation (13th ed.). McGraw-Hill Education.

Learning Outcomes

Upon completion of this course, students should be able to:

I. Prepare a corporate total compensation philosophy and strategy.
II. Perform a job analysis.
III. Investigate employee compensation strategies.
IV. Compare and contrast merit-based and pay-for-performance programs.
V. Evaluate performance appraisal programs.
VI. Analyze the impact of compensation on employee behavior.
VII. Explain the influences of government regulations on compensation practices.
VIII. Research the various options to pay plans.

Academic Integrity

Honesty and integrity are taken very seriously at Waldorf University. All students should be familiar with the Waldorf University Academic Integrity Policy (found in the current Student Handbook) and the consequences that will result from breaches of this policy.

Part A: PowerPoint Presentation

Compensation: Direct and Indirect = Total Compensation (Research)

Per the textbook, compensation can come in the form of financial returns, tangible services, and benefits. The two types of compensation are direct and indirect. Direct consists of pay for work performed. Indirect consists of the perks and benefits associated with the position/employment.

Imagine that you are a human resources (HR) manager, and it is your responsibility to identify data to help strategize, benchmark, and develop proper pay compensation for all positions within the organization. There are tons of software, vendors, and/or other services available to help with developing the pay grades, levels, and/or categories. Some sites you may consider using include the BLS website, where you can search via the Occupational Outlook Handbook.

The O Net Online website where you can select career choice, scroll down to Wages & Employment Trends, click Local Salary Info, then select State.

For this homework, you will create an eight- to ten-slide PowerPoint presentation. You will first choose a job title and a location to present the www.salary.com findings/results. Imagine that you are presenting to your company leaders, and ensure that you identify the following components:

1. Core compensation (direct compensation),
2. Benefits (indirect compensation), and
3. Benchmark benefits with the industry average.

As you create the content slides for your presentation, be sure to use the speaker notes function to explain the content in detail for each of the slides.

Note: Keep the 6x6 PowerPoint rule in mind (i.e., slides should only include six to seven lines of content with no more than six to seven words per line). Any illustrations should relate to the content being discussed. Be creative!

Include a title slide and a references slide in your presentation; however, please note that these slides do not count toward meeting the total slide count requirement.

Part B: Essay

According to various scholars, it has been identified that compensation plays a role in affecting the behaviors of employees. The impact can be either positive or negative. Contributing factors can range from the employer, the employee, the goals/objectives, perceptions, attributions, and behaviors. Each plays a role in determining the outcome.

For this homework, you will identify and address the pros and cons of compensation and its effect on employee behaviors, and you will then address the questions below.

1. What motivates employees?
2. Does compensation motivate behavior?
3. What are some elements of motivation?
4. Can compensation attract and retain employees? What behaviors should compensation reinforce?
5. What behaviors should compensation reinforce?

Part C: PowerPoint Presentation

Job Analysis Research

In conducting a job analysis, there are two areas: (1) job-based and (2) person-based structure. For this homework, identify the needed knowledge, skills, and abilities (KSAs); the tasks, duties, and responsibilities (TDRs); and any other specifics for a registered nurse's position.

We will be using research efforts to complete the homework. Refer to the BLS website to identify and collect needed data/basic information about a registered nurse's position. Utilize to the A-Z Index to access information on registered nurses.

Then, Create your own structure-based analysis: Follow the steps listed below for the onetonline org website to access the needed information.

I. Search onetonline org website

II. Go to the Occupation Search section.

III. Enter the keyword (registered nurse) or the O*NET-SOC code.

IV. Click the arrow.

V. Identify/record code for registered nurses.

VI. Click Registered Nurses.

VII. View the report.

VIII. Click the Custom tab in the middle of the page. (Note: You will customize/select your own job analysis specifics based on the job and person-based specifics.) The following information should be identified in the PowerPoint presentation:

1. credentials,
2. KSAs,
3. tasks,
4. work activities and detailed work activities,
5. technology skills,
6. tools used,
7. wages, and
8. an explanation of what a job analysis is and its purpose.

IX. Check the appropriate boxes (see below for required information).

X. Click GO.

Part D: Article Critique

Use the following link to access the article you will use to conduct an article critique.

Article: Beller, M. D. (2014, November 22). Mandated benefits, good or bad? At N.Y. hearing, reviews are mixed. Insurance Advocate, 125(19), 42-43.

After reading the article, compose your critique by addressing the items listed below.

1. Explain the main topic/question of the article.

2. Explain and identify mandatory indirect benefits addressed in the article.

3. Discuss factors to consider in determining how to offer and select benefits according to the article.

4. Take what you have learned from the unit and article and apply the concepts to your life by explaining whether you support mandatory indirect benefits and describing how they can affect you.

Part E: Scholarly Activity

Job Description and Job Evaluation

For this homework, you will create a job description and a performance evaluation document that can be used in identifying a position within an organization and assessing the performance of an employee. The two items should be based on research for a specific job position in a career field you choose.

Be sure to identify the compensation (direct and indirect) factors, the pay plan, and the performance appraisal as they apply. You can refer to the previous units to obtain additional assistance in completing the homework.