Benefits and compensation packages 7

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benefits and compensation packages

Make recommendations you think your chosen company should follow when considering benefits and compensation packages.

Introduction

Often, the market will select a company’s market position through word of mouth from current employees, former employees, or local press coverage through a best employer list. Taking a more proactive approach to managing a market position is the strategy of choice for most employers.

Tracking turnover rates, inflation, and economic indicators all play into the formula, as does a sense of the market and a company’s image and reputation. The numbers and trends tell a huge story. Interpreting that story is the difference between a superior compensation plan and ineffective one.

Most would agree that a policy is effective if it meets the standard of attracting and retaining a desired staff, stays within the laws of the market, and does not wreak havoc on the bottom line. But, what of the individual? Should the employee’s position be a factor in that equation? Should other outside, unsolicited opinions play a factor in the effectiveness equation?

How will you communicate your policy and standard to the employees of the organization? Will you make your message public to your consumer? These are the final questions that connect the complete package of managing compensation and benefits.

Preparation

Research any one of the top employer lists frequently posted by top news publications or industry journals, which you can search for using the Internet. Once you have found the information, complete the following:

Read the top 25 employers on the list.

Note how many of these employers made the list because of their compensation and/or benefits policies, and also note the specific compensation-related policies that were mentioned.

Log which policies were mentioned.

Instructions

Based on your research about top employers, prepare an analysis of your findings in a report. In not more than two pages:

Prepare a chart listing at least 10 of the top employers, their ranking on the list, and the compensation or benefit that was cited as a reason for being a top employer.

Review your list of employers. Can you make any determination from that list? Is there a pattern that makes for a top employer in compensation and benefits? What characteristics do you view as being more important than others?

Conclude with a recommendation for the company’s HR manager. Explain what standards you think are critical to becoming recognized as a top employer with excellent compensation and benefits policies. In other words, create the standard you think your company should follow. Justify your recommendations.

Additional Requirements

Your assessment should also meet the following requirements:

Length: Not more than two pages.

APA format: Use current APA style in citing and referencing your sources.

Competencies Measured

By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and scoring guide criteria:

Competency 1: Evaluate the importance of compensation and benefits plans in attracting and retaining the most qualified talent. 

Prioritize top employers based upon their compensation and benefits.

Analyze characteristics of top employers for compensation and benefits.

Competency 4: Create a base pay and a base benefit plan. 

Explain recommendations for a company to follow to achieve excellence in compensation and benefits.

Competency 5: Apply the Capella Writing Standards to support professional practice 

Convey purpose, in an appropriate tone and style, incorporating supporting evidence and adhering to organizational, professional, and scholarly writing standards.

3/25/23, 9(42 AMTop Ratings for Compensation and Benefits Scoring Guide

Page 1 of 1https://courserooma.capella.edu/bbcswebdav/institution/BUS-FPX/BUS-FPX4043/220700/Scoring_Guides/a07_scoring_guide.html

Top Ratings for Compensation and Benefits Scoring Guide

CRITERIA NON-
PERFORMANCE BASIC PROFICIENT DISTINGUISHED

Prioritize top
employers based
upon their
compensation and
benefits.

Does not identify
top employers for
compensation
and benefits.

Identifies top
employers for
compensation and
benefits.

Prioritizes top
employers based
upon their
compensation
and benefits.

Justifies prioritization of top
employers with reference to
specific components of the
compensation or benefits plans.

Analyze
characteristics of top
employers for
compensation and
benefits.

Does not identify
characteristics of
top employers for
compensation
and benefits.

Identifies
characteristics of
top employers for
compensation and
benefits.

Analyzes
characteristics of
top employers for
compensation
and benefits.

Evaluates characteristics of top
employers for compensation and
benefits in terms of their relative
importance.

Explain
recommendations
for a company to
follow to achieve
excellence in
compensation and
benefits.

Does not identify
recommendations
for a company to
follow to achieve
excellence in
compensation
and benefits.

Identifies
recommendations
for a company to
follow to achieve
excellence in
compensation and
benefits.

Explains
recommendations
for a company to
follow to achieve
excellence in
compensation
and benefits.

Justifies recommendations for
standards for a company to follow
to achieve excellence in
compensation and benefits.

Convey purpose, in
an appropriate tone
and style,
incorporating
supporting evidence
and adhering to
organizational,
professional, and
scholarly writing
standards.

Does not convey
purpose, in an
appropriate tone
and style,
incorporating
supporting
evidence and
adhering to
organizational,
professional, and
writing scholarly
standards.

Conveys purpose,
in an appropriate
tone or style. Clear,
effective
communication is
inhibited by
insufficient
supporting
evidence and/or
minimal adherence
to applicable writing
standards.

Conveys
purpose, in an
appropriate tone
and style,
incorporating
supporting
evidence and
adhering to
organizational,
professional, and
scholarly writing
standards.

Conveys clear purpose, in a tone
and style well-suited to the
intended audience. Supports
assertions, arguments, and
conclusions with relevant, credible,
and convincing evidence. Exhibits
strict and nearly flawless
adherence to organizational,
professional, and scholarly writing
standards, including APA style and
formatting.

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