Assignment: Class Compensation and Benefits
Developing Incentives Plans
5-7 slides with speaker notes of 200-250 words per slide (excluding title and reference slides)
The human resources specialties of compensation and benefits guide the organization's leaders in attracting and retaining the best employees through a combination of strategic decisions. Employment laws regulate organizations in their application of compensation and benefits to provide the foundation for an equitable pay system.
Prepare a presentation for senior leaders that educates them on the laws and regulations that addresses the following:
Explain the various laws and regulations that regulate compensation and benefits, such as the Fair Labor Standards Act and others.
What challenges does an organization face in implementing these laws?
Discuss the role of management, employees, and unions in compliance with these laws and regulations.
What recommendations would you make to an organization to monitor and ensure compliance with these laws and regulations?
Part 2
Compensation Plan Implementation
6-8 slides with speaker notes of 200-250 words per slide (excluding title and reference slides)
Determining the value of work is critical to setting pay rates. After the job analysis and writing the job description, the human resources compensation specialist determines the process to apply to perform the job evaluation and compensation.
Develop a presentation that addresses the following for setting a final pay range for a position:
Explain the factors used in job pricing.
What are compensable factors, and how are they applied in determining pay ranges?
Discuss the point and job content methods, and give an example of how each is applied in determining compensation.
What would you recommend an organization use to define compensation for a customer service representative?