HRM324 University of Phoenix Total Compensation Plan Paper

timer Asked: Oct 19th, 2018
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Question Description

Design a 525- to 700-word total compensation plan (written in the third person voice) for an imaginary competitor of Amazon, Home Depot, Starbucks, FedEx Corporation, or Bristol-Myers Squibb.

Address the following details in your plan:

  • How your plan supports key objectives
  • An evaluation of current trends and issues in total compensation and a prediction of future trends
  • Internal and external equity
  • A wage management process and rationale
  • A retirement plan and how participation will be driven
  • The influence of the organization's financial condition on the total compensation plan
  • How your plan will be communicated to leadership and employees

Format your paper consistent with APA guidelines.

Cite all sources according to APA formatting guidelines.

Tutor Answer

School: Duke University

Please find the completed work


Total Compensation Plan
Student`s Name
Professor`s name



Compensation denotes an outline constituting salaries and the benefits that a worker
enjoys after the long struggle of working regardless of the prevailing conditions in given
premises or business. The benefits can be in the form of a bonus, incentives, free meals and also
insurance coverage of which the employee can be given either at the end of a month or even
year. Compensation is categorized into monetary and non-monetary plans. Effective
compensation plans help retain and attract employees. This paper will discuss changes and
current issues in total compensation and an overview of what to expect in the future.
Current Issues in the Compensation Plans
Below are som...

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