Reference no: EM131206854

Assignment: Recognizing Employee Contributions

Scenario:

You are the HR manager of a relatively new retail company that has both retail stores and Internet sales.  Your company is steadily growing in revenue and profitability. The company realizes that in order to retain the solid, highly productive workforce it currently has in place, it is important to enhance the base compensation and benefits package offered to the employees. The company currently offers a basic compensation program and only federally mandated benefits. Employee surveys suggest the compensation and benefits program may be out of date. Employees are beginning to consider leaving the organization.

Write a six to eight (6-8) page paper in which you:

1. Propose two (2) methods an HR professional could use to determine incentive pay. Specify the principal manner in which the proposed methods take into consideration individual, group, and company performance. Justify your response.(Dr. Vic's Tips: recall that Ch. 12 discussed a great deal of information on incentive pay, please visit this chapter again and use information from within it for this question).
2. Examine the core legal requirements affecting employee benefits in today's competitive environment. Determine the legally mandated benefits that the company must currently offer to its employees.  (Dr. Vic's Tips: recall that Ch. 13 discussed benefits, please visit p.p. 401-406 for more on legally mandated benefits).
3. Recommend at least four (4) additional benefits that the organization should consider providing to its employees. Suggest at least three (3) important concepts that a company must consider when designing benefit plans. Provide a rationale for your response. (Dr. Vic's Tips: here make sure you do two things, first, select two benefits that company should offer, see Ch. 13 for more on Optional Benefits,  p.407-420, and second, please two concepts that must be considered when selecting benefits - concentrate on organizational/company objectives, values and cost, p.p. 420-423).
4. Assess the efficiency of common techniques for effectively communicating compensation and benefit plans to employees. Support your answer. (Dr. Vic's Tips: Please assess using your learned knowledge and insights, there is short section on p.p. 425-426 of Ch. 13 that address this topic).
5. Suggest two (2) ethical risks of making incentive pay a large portion of employees' total compensation. Propose two (2) recommendations for ways the company might mitigate or reduce these risks.  (Dr. Vic's Tips:Here too, please assess ethical risks using your learned knowledge and insights, there is short section on p.p. 390-391 of Ch. 12 that address this topic).

Use at least four (4) quality academic resources in this assignment.

Note: Wikipedia and other Websites do not qualify as academic resources.