Assignment: Compemsation Plan
Compens a Develop a progressive yet competitive compensation plan that will support recruiting and retention efforts and lower the employee turnover rate. Traditionally, Motors and More has provided employees minimum wage and statutory bene?ts.
A. How does Motors and More's employee compensation compare relative to other organizations in the area? Will the organization meet, lead, or lag the local market? Explain your rationale.
B. Identify alternative pay methods and discuss the advantages and disadvantages of each.
C. What bene?ts will you offer? Include statutory bene?ts. What are the costs of those bene?ts? What is the rationale for offering those bene?ts?
D. Develop a communications plan regarding how employees will be informed about the compensation plan. Define the sequence of communications considering the who, what, and when of the message.
Format your assignment 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 assignment, 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.