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Research components of effective compensation plan

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Reference no: EM133155881

Research the components of an effective compensation plan from your employer or a previous employer.

Research the components of a competitor or similar business that you are currently employed with.

Research the methods that both companies use to measure employee satisfaction with their pay structure.

Outline how your company determine whether their employer-sponsored retirement plans and health insurance programs are competitive.

Recommend two high value discretionary benefits to employees.

Be sure to include your rationale for selecting these high value discretionary benefits as opposed to others.

Example: Payment for time not worked, Surrogacy leave, adoption leave, menstrual leave, marriage leave

Employee services (credit union banking discount, baby sitting services, gym discounts, and etc.)

Funeral expenses

Festival or annual gifts

Premioum pay

Explain your rationale for which compensation plan would be the most effective post Covid - 19 and why.

Reference no: EM133155881

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