Assignment 2 CompensationPlan OutlineDueWeek 8 and worth 30
Assignment 2: CompensationPlan OutlineDueWeek 8 and worth 300 pointsUsingthe same company you researched in Assignment 1, evaluate the company’scompensation plan to determine how it could be improved.Writea six to eight (6-8) page paper in which you:Evaluate theexisting compensation plan to determine if it is the most appropriate foryour company. Explain your rationale.Determine the mostbeneficial ratio of internally consistent and market consistentcompensations systems for the company you selected.Evaluate thecurrent pay structure used by your company and assess the recognition ofemployee contributions.Make two (2)recommendations for improving the effectiveness of the discretionarybenefits provided by the company you selected. Evaluate the typesof employer-sponsored retirement plans and health insurance programsprovided by the company you selected and compare them to that company’smajor competitors.Use at least three(3) quality references. Note:Wikipedia and other Websites do not qualify as academic resources. Yourassignment 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 yourprofessor for any additional instructions.Include a coverpage containing the title of the assignment, the student’s name, theprofessor’s name, the course title, and the date. The cover page and thereference page are not included in the required page length. Thespecific course learning outcomes associated with this assignment are:Evaluate theeffectiveness of traditional bases for pay (seniority and merit) againstincentive-based and person-focused compensation approaches.Compare andcontrast internally consistent and market-competitive compensation systems.Evaluate the roleof benefits in strategic compensation.Use technology andinformation resources to research issues in compensation management.Write clearly and concisely about compensation management using properwriting mechanics