Case Study: HRM 533: Total Rewards

Belton, R. (2004). Employment discrimination law: cases and materials on equality in the workplace. Thomson/West

Ulrich, D. (1998). A New Mandate for Human Resources. Harvard Business Review, 76(1), pp. 124-135.

While gathering the research for this paper I came across numerous compensation strategies. As with anything in life, we find a lot of possibilities, however there were three main structures that jumped to the forefront.

The reading course material required for this class, and the information reviewed throughout the course are the foundation for the content of this Guide. Each of the five key compensation processes will be reviewed in the context of:

A well-articulated compensation philosophy drives organizational success by aligning pay and other rewards with business strategy. It provides the foundation for plan design and administration and anchors current and future plans to the company's culture and values (Kaplan, 2006, p.32). Recognizing and rewarding achievement is the cornerstone of the company A’s compensation philosophy. The mission of the company is to attract, select, place and promote all individuals based on their qualifications. The company believes that performance-based compensation helps attract, develop and retain talented professionals. In addition to base pay which based upon local market conditions and targeted to be above market, the company provides the following types of potential compensation to reward performance:

Snell, S., & Bohlander, G. (2013). Chapter 3: Equal Employment Opportunity and Human Resources Management. In Managing human resources (16th ed.). Mason, Ohio: South-Wester

Snell, S., & Bohlander, G. (2012). Equal Employment Opportunity and Human Resource Management. In Managing Human Resources (16th ed.). Manson: Cengage Learning.

2. Leatherbarrow, C., Fletcher, J. & Currie, D. (2010) Introduction to Human Resource Management. 2nd Edition. London: CIPD

Most health care analyst believes that health benefits provided by employers are provided as part of the overall compensation paid to workers. Because of the rising cost of the health care benefits, employers’ shares of

C. Leatherbarrow & J. Fletcher, 2014, Introduction to Human Resource Management, guide to HR in practice, 3rd edition, London, CIPD

Chapter conclusion: Benefits for employees are very important for companies. Benefits for employees include various insurance plans, paid vacation days, paid sick leave, paid days off, etc. Different companies need to establish different benefit plans based on their company conditions. In brief, benefit in one of the bridge between employers and employees.

Employee benefits are an important cog in the wheel of industry in today's busy world. Oftentimes, potential employees are more interested in the benefits a company provides than in the salary or compensation they will be receiving. Potential employees oftentimes desire healthcare or insurance plans and pension plans that will take care of them for the long-term, not a short-term benefit plan.

Employee benefits are a tool used by businesses to attract potential applicants, improve employee satisfaction, reduce turnover and maintain competition. Benefits that most employers offer include, but are not limited to, medical and dental coverage, time away from work, retirement, and additional assistance during life changing events. The majority of employers in the United States offer benefits to their employees and include an annual enrollment yearly to select benefits and make any needed changes.

In today’s competitive workforce, compensation and benefit packages plays a crucial role on recruitment and retention for both the organization and the employee. Bumpbie finds itself in a situation where it could positively affect its employee’s morale, turnover rate and longevity; by making a strategic decision to implement compensation and benefit packages that will encourage current workers to stay and entice new applicants. Money is not always the inherent reason businesses experience high turnover rate, the constant shifting in the job market will always be a contributing factor as well as employee’s moral. Mayhew, R. (2016), explains that an “employee compensation plan” refers to all the components offered as well as the way in which they are paid, and the reason behind the employees getting the compensation case bonuses, salary increases and incentives. The fact that there are voluntary and mandatory benefits that organization provides to their employees give employees the freedom of choice, as well as the option to make the whether to stay with or leave an organization based on the benefits it provides. Variable Pay is also an option that some employers offer their employee which is performance based or results oriented. Whether it is profit sharing, merit based programs or incentive bonuses; it all comes down to which organization can provide employees with the compensation or benefits packages that best satisfy their needs.

This paper will outline an employee compensation and benefits package for a new hire for a secretary for the department. First, it will describe the organization I chose for designating a compensation package. Next, this paper will develop an employee compensation and benefits package for this new position. This paper will outline an employee compensation and benefits package for a new hire for a secretary for the department. First, it will describe the organization I chose for designating a compensation package. Next, this paper will develop an employee compensation and benefits package for this new position. Attached to this paper is a Powerpoint presentation that will detail this employee compensation and benefits package, as well as an the eligibility of exempt or non-exempt status, other benefits that might be considered, government regulations that influence the compensation, two other organizations with similar compensation, and how this package aligns with the HRM strategy.