Homework: Compensation and Benefits
Preparation
Research compensation and benefits for either Java Corp., or an organization of your choice. A minimum of two resources are required to support your work. Use the following template for additional guidance on components that comprise employee pay or salary and benefits:
• Compensation and Benefits Template.
Scenario
For this Homework, choose either option 1 or 2. You do not need to do both. You will apply one of these scenarios in the Instructions below. Both options will be graded using the same scoring guide.
Option I
You are the new HR manager for Java Corp., a domestic cold coffee and tea company. Java Corp. is opening a new office in London, England. You are planning on filling one executive-level position with a U.S. citizen who is not already employed by Java Corp. The term of the initial assignment is two years.
Option II
Choose an organization to use for this Homework. It can be where you are currently employed or a company with which you are familiar. It must be an organization that is researchable, as you will need to gather and analyze information to complete the Homework. You may use the same organization for the other Homeworks.
If you choose the organization where you are currently employed, keep in mind that the analyses you make must be based on facts that can be documented rather than your personal opinion as an employee.
Research the compensation and benefits of the chosen organization. The company is opening a new branch office in London, England. You are planning on filling one executive-level position with a U.S. citizen who is not already employed by your company. The term of the initial assignment is two years. You are the new HR manager and must design a preliminary compensation package for this position.
Contact your faculty if you have questions.
Instructions
Using the Compensation and Benefits Template as a guide, create a compensation package for a new expatriate position. Include the following:
Pay or Salary
In this part:
1) Describe key factors and decisions to make regarding base pay. Note: You do not need to indicate exact salary figures for this Homework.
2) Analyze additional pay considerations for expatriate positions.
a. Consider incentive pay, foreign service premium, hardship allowance, and mobility premium.
Benefits
In this part:
1) Analyze other legally required benefits for an employee.
a. Include standard benefits, protection programs and paid time off, Social Security, Medicare, federal and state unemployment, and workers compensation.
2) Analyze the appropriateness of offering additional benefits.
a. These types of benefits could include relocation assistance, educational reimbursement, and home leave reimbursement, among others.
3) Describe additional key considerations in designing a compensation package for the expatriate position.
Format your homework according to the give formatting requirements:
1. The answer must be double spaced, typed, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the homework, the course title, the student's name, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.