Task: Compensation 4-6 pages
James Richards has an electrical engineering degree from a United States' accredited university. Upon graduation he was offered, and he accepted, an entry-level engineering position at a firm in San Antonio, Texas. He has been gainfully employed with this firm for the last five years. Recently he interviewed with your firm which is located in Chicago, Illinois. You, working for the human resources department, want to employ James. Working in conjunction with your supervisor you are drafting three items; (1) a compensation package, (2) an incentive plan, and (3) a benefits plan in order to successfully employ James Richards with your organization.
Using the Internet and Library, locate all necessary information for constructing these three packages. This will include designing plans that are specific to James and this situation, including the pay rate that will be offered, and the specific benefit and incentive plans this offer will include. Along with these packages you will include a one page cover letter that outlines what you propose to offer. The cover letter should be addressed to your supervisor and should explain and justify the compensation package, incentive plan, and benefits plan. Your detailed plans will then follow that cover page.
This is a research assignment so be sure to include and cite your research in the paper.
There are 4 components required for successful completion of this IP: (1) a compensation package you suggest for James (including the specific pay rate that will be offered) (2) an incentive plan you feel will be effective for persuading James to take the position (specific incentive plans this offer will include) and (3) a benefits plan (specific benefits this offer will include)
Using the Internet and Library (notice that external research is required) locate all necessary information for constructing these three packages. Be sure to cite your sources within the paper (package) so that I am able to see how you obtained your data, and how that information was used to support what you plan to offer. Again, the in-text citing within the paper (not just the cover letter) is required. Although that would not normally be included in an offer, for the purpose of this assignment it is important to include.
Along with these packages/plans you will include a one page cover letter that outlines what you propose to offer. The cover letter should be addressed to your supervisor and should explain and justify the compensation package, incentive plan, and benefits plan. Your detailed plans will then follow that cover page. Be sure you do more than simply "list" the incentives and benefits in those plans. You are expected to include the details necessary to explain what you plan to offer James.