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Explain what is meant by employee benefits

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You and your learning team members are HR consultants for Systems and Solutions HR Firm. You have been contracted by Premium Protect Plus Inc., an existing security system company. Due to the high volume of business, Premium Protect Plus Inc. is planning a massive expansion. This expansion will include new locations, the development of new departments, and more human capital. Premium Protect Plus Inc. is aware that this massive and rapid expansion will require the organization to conduct a strong evaluation of their current compensation and benefits system. Premium Protect Plus Inc. will need to develop a compensation and benefits plan, which will support their desire to attract, retain, and develop human capital that can support the vision and values of the organization.

Your consulting firm has been asked to develop a compensation and benefits plan for the entire organization, with specific attention to the new departments and positions. Your team must develop a human resource business plan addressing compensation and benefits. You will present this plan to the CEO, CFO, public relations & marketing director, human resource manager, corporate recruiters, and some senior vice-presidents.

Question 1: Define compensation and outline different types of compensation.

Question 2: Determine what type of compensation systems best fit with these types of positions.

Question 3: Explain what is meant by employee benefits.

Question 4: Outline how compensation and benefits fit together.

Question 5: Describe how compensation and benefits can impact employee morale and performance.

Reference no: EM132652717

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