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In this assignment, you will use your textbook and the independent research you conduct to determine the components of an effective compensation plan, one that includes more than just base salary. Specifically, you will write a 4–6 page paper in which you:
Research the components of an effective compensation plan.
Determine the most beneficial ratio of internally consistent and market consistent compensation systems.
Be sure your narrative is in your own words.
Research the methods companies use to assess employee satisfaction with their pay structure.
Outline how companies determine whether their employer-sponsored retirement plans and health insurance programs are competitive.
Recommend two high value discretionary benefits to employees.
Be sure to include your rationale for selecting these high value discretionary benefits as opposed to others.
