BUS 434 University of Arizona Designing a Compensation Package Essay

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Business Finance

BUS 434

university of arizona global campus

BUS

Description

Designing a Compensation Package

Using the job description and evaluation method that you created for the exercises in Weeks 2 & 3, and the feedback from peers, design a proposal for a competitive compensation package for the position, including the following elements:

  • Job description
  • Method of Job evaluation
  • Intrinsic and extrinsic benefits
  • Compensation package and rationale for same
  • How performance will be measured
  • Why the proposal you have created is appropriate for the market at this time.
  • Compensation strategy.

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Human Resource Management Position at Adobe: Job Description We're seeking for a Human Resource (HR) Manager to oversee the company's human resources systems and practices. Position Description When it comes to employee-related concerns, the HR Manager is the go-to person for the organization. Job design, recruitment and selection, performance management, employee relations, talent management, and employee training and development will all be part of your responsibilities. The role of an HR Manager is critical to our company's success. Because people are the company's most precious asset, you'll be in charge of creating a pleasant and productive workplace where everyone works together to achieve the company's vision and objectives. The HR Manager's role also entails the promotion of corporate values and the creation of a positive corporate culture (University of Minnesota, n.d.). Duties and Responsibilities • • • • • • • • • • • • • Create and implement human resource initiatives and strategies that are in line with the company's overall corporate strategy. Act as a link between employees and management by addressing requests and complaints, among other things. Assist in the determination of appropriate salaries and remuneration. Provide the necessary systems of support for payroll requirements Manage the company's workforce, including coordinating and supporting the recruitment and selection methods and process Support the business's current and future needs through human capital development, engagement, encouragement, and protecting Create and monitor human resource tactics, systems, and procedures across the organization Develop a positive workplace environment Assist with the performance management and review process, and monitor a performance appraisal system that encourages excellent performance Keep the benefits program going Examine the training requirements in order to establish appropriate induction and training, as well as monitor training programs Report to management and assist them in making decisions by providing accurate and timely HR metrics Ensure that the HR department as a whole follows all legal standards. Skills and Abilities • • • • • • • • • Outstanding negotiating, presenting, and active listening abilities Outstanding written and spoken communication skills Outstanding organizational skills Exceptional leadership abilities The ability to pay close attention to small aspects Strong analytical and problem-solving abilities Results-oriented and people-focused Ability to operate professionally, truthfully, and discreetly Ability to establish and manage interpersonal relationships at all levels of the organization Minimum Knowledge and Qualifications • • • • Demonstrated familiarity with HR metrics and databases Comprehensive knowledge of HR best practices as well as employmentrelated legislation and regulations Work experience in the Human Resources profession that can be demonstrated A bachelor's degree in Human Resources, Business Administration, or a closely related field is required. University of Minnesota. (n.d.). ‘Chapter 1: The Role of Human Resources’. In Human Resources Management. Accessed from https://open.lib.umn.edu/humanresourcemanagement/chapter/1-1-what-ishuman-resources/ Job evaluation is vital in an organization’s compensation and benefits management. By definition, job evaluation refers to the systematic determination of the worth of different jobs within a company. In other words, it involves establishing the differences between jobs’ values in the workplace. The ultimate goal of work evaluation is to make comparisons between dissimilar jobs to develop a wage structure that is more equitable, unbiased, and consistent for every employee (Weathington & Weathington, 2016). Some of the main factors I would consider when choosing the most suitable job for me in an organization includes: • • • • The skills required. The tasks and responsibilities to fulfil. The working condition. The efforts needed of me to perform well in the selected job. The table below acts as s job evaluation tool comparing the differences between various human resource (HR) positions. Even though I chose this tool for my job evaluation, it can be adjusted to suit another person’s job analysis. In other words, this table is not limited to my work evaluation in HR. Job occupation Ability Determination Accountability Work environment Total The Assistant HR 2.0 2.3 2.8 2.0 9.1 2.9 2.8 3.0 2.1 10.8 The Business Partner HR 4.0 4.2 3.9 2.9 15 HR Manager 5 5 5 4.3 19.3 HR Expert I chose to evaluate an HR manager position since I am currently pursuing my bachelor’s degree in HRM. I am also seeking the experience needed to qualify for an HR managerial role. There are different HR positions that one can fill before becoming an HR manager (University of Minnesota, n.d.). They include an HR assistant, HR specialist, and HR business partner, as indicated in the table above. Working in these positions will provide me with the adequate skills and experience to become an HR manager. University of Minnesota. (n.d.). ‘Chapter 1: The Role of Human Resources’. In Human Resources Management. Accessed from https://open.lib.umn.edu/humanresourcemanagement/chapter/1-1-what-ishuman-resources/ (Links to an external site.) Weathington, B.L. & Weathington, J.G. (2016). Compensation and benefits: Aligning rewards with strategy, updated edition. Zovio.
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Running Head: COMPENSATION AND BENEFITS
1

Designing a Compensation Package
Student’s Name:
Institution’s Affiliation:

COMPENSATION AND BENEFITS

2
Job description

Here at Adobe, the role of a human resource manager is crucial because the position serves
as the backbone of the organization's success. As a human resource manager, you will fully be part
of our business by handling all employee-related issues. You will be in charge of creating Adobe's
job design for all the positions available in the organization. Most importantly, you will be in
charge of firing and recruiting employees managing all employees' performance, talents, relations,
and employee training programs. Notably, the human resource manager will create a conducive
and productive working environment here at Adobe and a working environment that encourages
teamwork. (Stewart & Brown, 2019)
Other roles and responsibilities
Establishing and implementing initiative strategies. Adobe's Human resource manager is
responsible for coming up with human resources initiatives that fulfill Adobe's general working
strategy and also Adobe's goals and objectives.
Linking employees to employers. The Adobe Human resource manager represents
employees by addressing employees' complaints, desires, and needs to the employer. Also, the
human resource manager at Adobe addresses the employer's requests and complaints to the
employees.
Helps in determining salaries and wages. The Adobe human resource manager is part of
the team that determines employees' salaries and wages. The human resource manager's main role
is to ensure every employee receives the salary rate they deserve for their job positions, rankings,
and efforts.

COMPENSATION AND BENEFITS

3

Reports to management on employees' metrics. The Adobe human resource manager feeds
the executive manager with the employees' accurate and timely metrics to make accurate decisions.
Supporting Adobe's businesses by assisting in managing employees' performances. The
human resource manager reviews employees' performance daily and monitors employees to
encourage e excellent performance of all Adobe's employees.
Skills and abilities
At Adobe;


Human resource managers must possess excellent negotiating skills.



Human resource managers must possess excellent communication skills, both oral
and written.



Human resource managers must have excellent leadership skills to manage and lead
all other employees effectively.



Human resource managers must have professional skills to apply in all their duties;
hence, they should be honest, respectful, and integrity.



Human resource managers should have the ability to create and manage perfect
working relationships among employees and also between the employer and
employees.



Human resource managers should possess the ability to solve problems effectively,
be results-oriented, and focus on the people.

Minimum knowledge and qualifications
At Adobe;

COMPENSATION AND BENEFITS


4

The human resource manager should have excellent experience operating databases
and solving metrics.



Human resource managers should have adequate knowledge of all human resource
practices.



Human resource managers should have a bachelors' degree in Human resourc...


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I was having a hard time with this subject, and this was a great help.

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