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Compensation and benefits strategy, management assignment help

Question Description

I’m studying and need help with a Management question to help me learn.

1,225-word compensation and benefits strategy for the organization.

  • Discuss current trends shaping total rewards for employees in a business industry synonymous with your organization.
  • Evaluate current compensation plans for that industry.
  • Summarize your data in narrative and table format showing diverse levels of responsibility and compensation.
  • Evaluate the market data, job data, and organizational data.
  • Devise a total rewards strategy with recommendations for your organization.
  • Include in table format a list of the compensation components for your plan.
  • Develop a one-page survey you would use as a resource to collect information from employees about the rewards they desire in a reward package for employees. On your survey, include questions about financial rewards and non-financial rewards. Include these questions as the last page of your paper, after the Reference page. Please Do not administer the survey.
  • Include an analysis of legislation that may impact decisions made about compensation and benefits.

Format your assignment consistent with APA guidelines.

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Final Answer

Thank yous for working with me.

Running head: COMPENSATION AND BENEFIT STRATEGY

Compensation and Benefit Strategy
Name:
Institutional affiliation

1

COMPENSATION AND BENEFIT STRATEGY

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Current Trends Shaping Total Rewards for Employees in a Business Industry
The increase in competition from other Companies such as Samsung has forced the
Apple Inc. Company to device means in which to put in place employee programs that attract,
retain, and ensure that their talents are fully engaged and motivated. The organization has to
consider number trends in the industry to remain competitive. The management of Apple will
have to find segmentation and differentiation (Rakyan, 2016). This program advocates for
investing in the workforce with high knowledge and skills that will positively contribute to
increased returns. Differentiation should be done in salary and bonuses increase by creating a
customized reward package that will motivate and retain the employees over an extended period
of time. Another trend is flexibility in the working environment. The HR department of Apple
should consider revising their policies so as to accommodate the needs of different workforce
such as working unconventional hours and increase the engagement levels of their current
employees. The other issue to consider is health and wellness. The majority of the employees
nowadays prefer working in an organization that supports safety and well-being. It is also
necessary that the HR personnel do a follow up on the effectiveness and sustainability of the
program to ensure that employees feel secure. Furthermore, the Apple managers should
encourage the culture of openness communication system where information can flow
horizontally, vertically, and from line managers to the top management more so matters relating
to the salary and benefit philosophies to employees. Lastly, rational decision making is critical in
the industry on employee benefits and compensation. All the relevant data has to be collected on
matters regarding workforce compensation and decisions made should reflect an insight into the
data collected.

COMPENSATION AND BENEFIT STRATEGY

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Current Compensation Plans
In the ever changing field of technology, retain the experienced workforce is a key factor
to each organization in the industry. The impact of compensation plan of employees on growth
and development of new products in the technological industry calls for the management of
Apple Inc. Company to take a strategic approach to designing their compensation plan. The
current payment plan of Apple outlines certain elements that are necessary for its validity. The
method is used as a tool to communicate th...

masterjoe (18702)
University of Maryland

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