HR management unit 4 power point

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Business Finance

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To prepare for this assignment, review Waring’s article about employee compensation, which is also listed in the required reading section of the Unit IV Study Guide. Note: both links contain the same information; only one needs to be reviewed. Waring, D. (2013). How to design an employee compensation plan [SlideShare slides]. Retrieved from http://www.slideshare.net/FitSmallBusiness/how-to-design-a-compensation-plan-dave? ref=http://fitsmallbusiness.com/how-to-pay-employees/ Waring, D. (2013). How to pay employees – The ultimate guide. Retrieved from http://fitsmallbusiness.com/how-to-payemployees/ You are the director of compensation for a midsized organization. Prepare a PowerPoint presentation that justifies the implementation of a new compensation strategy that will support the motivational needs of knowledge workers and reinforce the real-time performance appraisal system that the organization has embraced. While your goal is to retain, motivate, and grow the current workforce of multi-generational knowledge workers, you must also justify to your senior management that this compensation strategy is competitive in the marketplace. Your presentation should describe a compensation program for knowledge workers. The title of the knowledge worker’s position is entirely up to you (e.g., sales executive I, systems engineer III, etc.). You may use various sources (including the lesson materials), but you must use at least one additional resource from the CSU Online Library. Include a reference slide, and cite any sources used in proper APA format. Your presentation should be a minimum of 12 slides in length—not counting the title and reference slides. You may also use the slide notes function to explain slide contents as necessary, but this is not required. Be sure to address the questions below in your presentation. What is the compensation strategy being proposed? Did employees provide input? Who else provided input? What incentives are included in the plan? How will it motivate the employees? How will employees determine fairness of the pay structure? Why do you believe the employees will be satisfied with this plan? Justify the compensation strategy that supports the motivational needs of knowledge workers. What is your communication plan for rolling out the new program?

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COMPENSATION
PLAN

Overview


The primary driving force for a given organization`s success comes from the overall efforts put in by the workforce.



As such, the most critical component of an organization revolves around the employees as well as the other members of
staff.



Without some active employees’ base, an agency may work under a superior brand name but fail to realize the most
important objective, good annual returns



. Over the years, organizations focus their energy on putting up measures that tend to improve their overall outcomes
and consequently, yearly profits. However, not every company manages to keep its workforce to its top level of
performance.



In the end, the resulting situation drives such a firm into reduced annual returns which translate to low or no profits at
all.



While addressing the issue of employee motivation, the ability of a company to implement a superior compensation
policy within its areas of application determines either its success or failure. In most cases, companies must ensure that
their workforce remains motivated as well as encouraged to perform their daily tasks to assist such a firm to achieve its
set goals. A motivated employee boosts his/her performance which in turn leads to better returns for their workplaces
(Bellé, 2013).

Improtance ...


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