Developing a Compensation Plan

You are required to write an individual essay, using peer-reviewed scholarly sources, turning compensation strategy and management into a proposed compensation system. You must integrate theories and concepts in this essay from this class, as well as from your prior Human Resources classes (e.g. legal framework) and Organizational Behavior classes (e.g. motivation theories).

 The paper will focus on developing a compensation plan for a specific job within an organization (e.g., an assistant professor of management at the University of Guelph; the Chief Human Resource Officer at TD in Toronto). This plan must be thorough (i.e., engaging with all key elements of determining compensation), realistic (i.e., accounting for practical considerations), and justified (i.e., clearly explained and supported by evidence; defensible). It may be beneficial to select a job you want to hold in the future within an organization you want to work. (However, even if you are using an existing position, you must work towards a new, evidence-based compensation system rather than simply describing or replicating the existing system, otherwise you are engaging in a form of academic misconduct).

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In writing this paper, you will need to think about how the organization’s strategic objectives are being achieved through its policies and practices. You will be able to engage with some of the practices covered in this course in order to develop a compensation plan (e.g., formulating a job description). However, other practices will not be possible for you to actually conduct (e.g., a job analysis). In those situations you will need to find information that would support your approach, explain how you would go about engaging with this practice, what considerations you would need to make during the step(s), and the likely results that would emerge from this process (which may guide you into another step of the compensation process).

As a more technical-styled essay, your ability to explain your thinking and provide reasoned rationale for your suggestions will be core to success with this paper. It will be up to you to determine which steps would need to be completed and which steps or approaches are not necessary to develop this compensation plan, and communicate your reasoning clearly. Merely naming component parts of what would be used to determine compensation is insufficient.

To do well on this paper, you will need to engage in: knowledge integration and application, strategic and critical thinking, clear communication, evidence-based decision making, and creative design. This final assignment will take significant time to complete sufficiently; therefore, your time management throughout the semester on this assignment will be core to your success.

You are required to write an individual essay (max. 15 pages double spaced; 12-point font; 1 inch margins; properly referenced). The topic of this essay is: As a manager, what I would do from a compensation perspective to select, retain and motivate my employees . You should integrate theories in this essay from this class, as well as from your prior Human Resource classes (e.g. legal framework) and Organizational Behaviour classes (e.g. motivation theories).For more information on Developing a Compensation Plan read :https://en.wikipedia.org/w/index.php?search=Developing+a+Compensation+Plan&title=Special%3ASearch&go=Go&ns0=1

Developing a Compensation Plan

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