Compensation Survey and Structure Business Plan

Compensation Survey and Structure Business Plan

Final Compensation Survey and Structure Assignment Instructions

Overview

Students will select an industry and choose 4 benchmark positions from the chosen industry. Each student will create a Compensation Survey for the industry. Students will design a Compensation Structure Proposal for an existing or newly created organization within the chosen industry. The Hay Plan Point Method approach will be used for this assignment. For each section, the student must support assertions from the course textbook, at least 2 scholarly/peer-reviewed citations in APA 7th ed. format and include a Christian worldview component supported by the Bible.

Instructions

Students will be required to:

I. Create a Compensation Survey with the required components.

II. Create a Hay Plan, to include Total Rewards.

III. Create a Compensation Structure Proposal.

IV. Use the current edition of the course textbook and a minimum of 2 scholarly/peer-reviewed citations for each section.

V. Integrate a Christian worldview component into the creation of the Compensation Survey and Structure Proposal.

VI. Submit as a Word document (doc.).

Required Elements:

Section I – Compensation Survey: Introduction and Key Components

A. APA Title Page with Student’s Name, Liberty University, Course Title, Chosen Industry, Name, and Date.

B. Provide Introduction and description of the industry.

C. List and define Compensable Factors and create Job descriptions for 4–5 benchmark jobs.

D. Provide minimum/average/maximum wages for each position.

E. List and define a minimum of 5 benefits offered to employees in the chosen industry.

F. Use the current edition of the course textbook, a minimum of 2 scholarly/peer-reviewed sources, and biblical integration.

G. Follow current APA-formatting guidelines.

H. Is expected to be free of APA, grammar, spelling and punctuation issues.

Section II – Compensation Survey: Instrument

A. Provide Instructions, Timeline, Costs, Confidentiality Statement, and Signature Page.

B. Use the current edition of the course textbook, a minimum of 2 scholarly/peer-reviewed sources, and biblical integration.

C. Follow current APA-formatting guidelines.

D. Is expected to be free of APA, grammar, spelling and punctuation issues

Section III – Compensation Structure: Internal and External Alignment

A. Summary of the decision-making process. This must explain the ‘how’ and ‘why’ the structure details were designed as is and will include the following:

1. Introduction—describe organization.

2. Describe the steps of the job analysis conducted.

3. Define the internal alignment of the organization’s Compensation Structure.

4. Define the external alignment of the organization’s Compensation Structure.

B. Use the current edition of the course textbook, a minimum of 2 scholarly/peer-reviewed sources, and biblical integration.

C. Is expected to be free of APA, grammar, spelling and punctuation issues.

Section III – Compensation Structure: Hay Plan

A. Create the Compensation Structure utilizing the Hay Plan method and determination of Pay Levels using Microsoft Excel to include the benefit mix (Total Rewards).

B. Use the current edition of the course textbook, a minimum of 2 scholarly/peer-reviewed sources, and biblical integration.

C. Is expected to be free of APA, grammar, spelling and punctuation issues.

Section IV – Compensation Structure: Proposal

A. Create a Compensation Structure Proposal for the selected benchmarked jobs.

B. Use the current edition of the course textbook, a minimum of 2 scholarly/peer-reviewed sources, and biblical integration.

C. Is expected to be free of APA, grammar, spelling and punctuation issues.

Note: Your assignment will be checked for originality via the SafeAssign plagiarism tool.

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