Assignment 2: Compensation Plan Outline
Worth 300 points
Using the same company you researched in Assignment 1, evaluate the company’s compensation plan to determine how it could be improved.
Write a eight (8) page paper in which you:
- Evaluate the existing compensation plan to determine if it is the most appropriate for your company. Explain your rationale.
- Determine the most beneficial ratio of internally consistent and market consistent compensations systems for the company you selected.
- Evaluate the current pay structure used by your company and assess the recognition of employee contributions.
- Make two (2) recommendations for improving the effectiveness of the discretionary benefits provided by the company you selected.
- Evaluate the types of employer-sponsored retirement plans and health insurance programs provided by the company you selected and compare them to that company’s major competitors.
- Use at least five (5) quality references. Note: Wikipedia and other Websites do not qualify as academic resources.
Your assignment must follow these formatting requirements:
- Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; references must follow APA or school-specific format. Check with your professor for any additional instructions.
- Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required page length.
The specific course learning outcomes associated with this assignment are:
- Evaluate the effectiveness of traditional bases for pay (seniority and merit) against incentive-based and person-focused compensation approaches.
- Compare and contrast internally consistent and market-competitive compensation systems.
- Evaluate the role of benefits in strategic compensation.
- Use technology and information resources to research issues in compensation management.
- Write clearly and concisely about compensation management using proper writing mechanics.
Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using the following rubric.
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Points: 300 |
Assignment 2: Compensation Plan Outline |
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Criteria |
Unacceptable Below 60% F |
Meets Minimum Expectations 60-69% D |
Fair 70-79% C |
Proficient 80-89% B |
Exemplary 90-100% A |
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1. Evaluate the existing compensation plan to determine if it is the most appropriate for your company. Explain your rationale. Weight: 15% |
Did not submit or incompletely evaluated the existing compensation plan to determine if it is the most appropriate for your company. Did not submit or incompletely explained your rationale. |
Insufficiently evaluated the existing compensation plan to determine if it is the most appropriate for your company. Insufficiently explained your rationale. |
Partially evaluated the existing compensation plan to determine if it is the most appropriate for your company. Partially explained your rationale. |
Satisfactorily evaluated the existing compensation plan to determine if it is the most appropriate for your company. Satisfactorily explained your rationale. |
Thoroughly evaluated the existing compensation plan to determine if it is the most appropriate for your company. Thoroughly explained your rationale. |
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2. Determine the most beneficial ratio of internally consistent and market consistent compensations systems for the company you selected. Weight: 15% |
Did not submit or incompletely determined the most beneficial ratio of internally consistent and market consistent compensations systems for the company you selected. |
Insufficiently determined the most beneficial ratio of internally consistent and market consistent compensations systems for the company you selected. |
Partially determined the most beneficial ratio of internally consistent and market consistent compensations systems for the company you selected. |
Satisfactorily determined the most beneficial ratio of internally consistent and market consistent compensations systems for the company you selected. |
Thoroughly determined the most beneficial ratio of internally consistent and market consistent compensations systems for the company you selected. |
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3. Evaluate the current pay structure used by your company and assess the recognition of employee contributions. Weight: 20% |
Did not submit or incompletely evaluated the current pay structure used by your company and did not submit or incompletely assessed the recognition of employee contributions. |
Insufficiently evaluated the current pay structure used by your company and insufficiently assessed the recognition of employee contributions. |
Partially evaluated the current pay structure used by your company and partially assessed the recognition of employee contributions. |
Satisfactorily evaluated the current pay structure used by your company and satisfactorily assessed the recognition of employee contributions. |
Thoroughly evaluated the current pay structure used by your company and thoroughly assessed the recognition of employee contributions. |
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4. Make two (2) recommendations for improving the effectiveness of the discretionary benefits provided by the company you selected. Weight: 20% |
Did not submit or incompletely made two (2) recommendations for improving the effectiveness of the discretionary benefits provided by the company you selected. |
Insufficiently made two (2) recommendations for improving the effectiveness of the discretionary benefits provided by the company you selected. |
Partially made two (2) recommendations for improving the effectiveness of the discretionary benefits provided by the company you selected. |
Satisfactorily made two (2) recommendations for improving the effectiveness of the discretionary benefits provided by the company you selected. |
Thoroughly made two (2) recommendations for improving the effectiveness of the discretionary benefits provided by the company you selected. |
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5. Evaluate the types of employer-sponsored retirement plans and health insurance programs provided by the company you selected and compare them to that company’s major competitors. Weight: 15% |
Did not submit or incompletely evaluated the types of employer-sponsored retirement plans and health insurance programs provided by the company you selected. Did not submit or incompletely compared them to that company’s major competitors. |
Insufficiently evaluated the types of employer-sponsored retirement plans and health insurance programs provided by the company you selected and insufficiently compared them to that company’s major competitors. |
Partially evaluated the types of employer-sponsored retirement plans and health insurance programs provided by the company you selected and partially compared them to that company’s major competitors. |
Satisfactorily evaluated the types of employer-sponsored retirement plans and health insurance programs provided by the company you selected and satisfactorily compared them to that company’s major competitors. |
Thoroughly evaluated the types of employer-sponsored retirement plans and health insurance programs provided by the company you selected and thoroughly compared them to that company’s major competitors. |
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6. 3 references Weight: 5% |
No references provided |
Does not meet the required number of references; all references poor quality choices. |
Does not meet the required number of references; some references poor quality choices. |
Meets number of required references; all references high quality choices. |
Exceeds number of required references; all references high quality choices. |
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7. Clarity, writing mechanics, and formatting requirements Weight: 10% |
More than 8 errors present |
7-8 errors present |
5-6 errors present |
3-4 errors present |
0-2 errors present |
