Capella University BUS4043 Analyzing Compensation Benefits of Top 10 Employers

BUS 4043 CU Analyzing Compensation Benefits of Top 10 Employers Report

• Write a 2-page analysis of 10 top employers based upon their compensation packages, and make recommendations of standards you think your company should follow when considering benefits and compensation packages.By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria:SHOW LESS
  • Competency 1: Evaluate the components that comprise an effective total compensation program.
    • Prioritize top employers based upon their compensation and benefits.
    • Analyze characteristics of top employers for compensation and benefits.
    • Explain recommendations for a company to follow to achieve excellence in compensation and benefits.

  Competency Map

  CHECK YOUR PROGRESSUse this online tool to track your performance and progress through your course.
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  Context

  Often the market will select a company's market position through word of mouth from current employees, former employees, or local press coverage through a best employer list. Taking a more proactive approach to managing a market position is the strategy of choice for most employers.SHOW LESSTracking turnover rates, inflation, and economic indicators all play into the formula, as does a sense of the market and a company's image and reputation. The numbers and trends tell a huge story. Interpreting that story is the difference between a superior compensation plan and ineffective one.Most would agree that a policy is effective if it meets the standard of attracting and retaining a desired staff, stays within the laws of the market, and does not wreak havoc on the bottom line. But, what of the individual? Should the employee's position be a factor in that equation? Should other outside, unsolicited opinions play a factor in the effectiveness equation?How will you communicate your policy and standard to the employees of the organization? Will you make your message public to your consumer? These are the final questions that connect the complete package of managing compensation and benefits.
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  Questions to Consider

  To deepen your understanding, you are encouraged to consider the questions below and discuss them with a fellow learner, a work associate, an interested friend, or a member of the business community.
  • In your opinion, why should organizations openly communicate their pay systems to their employees? What is an effective method to use to achieve this? Describe your experiences related to this and indicate whether you have worked in an environment in which pay systems were communicated effectively to the employees.
  • For many people, today's pay issues have become synonymous with ethics issues. Where is the ethical bottom line in compensation policy? What would be an ethical standard or statement as a model for any company? Consider the global nature of our economy.
  • Pay and bonuses are the things that get talked about most, yet they are also the things about which we are asked to keep quiet. If a total compensation policy is solid, why would you not want to be honest and tell your employees and customers exactly what you are doing?
  • How much should managers communicate about the total compensation program of a company? Who should be included in that discussion? Clients? Shareholders? What do you think?