Homework
Assume the role of a highly regarded human resource consultant hired to review, analyze, and revise the compensation and benefit system utilized by your city's largest employer, Holland Enterprises. The firm employs 3,500 employees, but since 2010 has lost 25% of its staff. Exit interviews indicate the primary reason a majority of these employees have resigned is because of a compensation and benefit system that is perceived to be unfair and noncompetitive in the marketplace.
Present to the management a revised compensation and benefit strategy. Your proposal should include:
1) Description of how an effective compensation and benefit system contributes to organizational effectiveness.
2) Explanation of the principle components of your revised compensation and benefit system for a large-scale organization as well as a recommendation for each component.
3) Provision of a clear and convincing argument to the already skeptical top managers of this organization to increase their compensation and benefit expenses.
At a minimum, your compensation and benefit system would include the following components:
1) Compensation and benefit philosophy
2) Pay structure architecture (pay grades, pay ranges, and pay width)
3) Ratio of base pay to incentive (bonus) pay
4) Emphases on external equity or internal equity
5) Principle type of benefits to include (example: deferred compensation match, health insurance, vacation and sick leave, etc.)
Format your homework according to the following formatting requirements:
(1) The answer should be typed, double spaced, 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 student's name, the course title, and the date. The cover page is not included in the required page length.
(3) Also include a reference page. The Citations and references should follow APA format. The reference page is not included in the required page length.