Assignment 2: Compensation Plan OutlineUsing the same company you researched in Assignment 1, evaluate the company’scompensation plan to determine how it could be improved. appleWrite a five page paper in which you:Evaluate the existing compensation plan to determine if it is the most appropriate foryour company. Explain your rationale.Determine the most beneficial ratio of internally consistent and market consistentcompensations systems for the company you selected.Evaluate the current pay structure used by your company and assess the recognition ofemployee contributions.Make two (2) recommendations for improving the effectiveness of the discretionarybenefits provided by the company you selected.Evaluate the types of employer-sponsored retirement plans and health insuranceprograms provided by the company you selected and compare them to that company’smajor competitors.Use at least three (3) quality references. Note: Wikipedia and other Websites do notqualify as academic resources.Your assignment must follow these formatting requirements:Be typed, double spaced, using Times New Roman font (size 12), with one-inch marginson all sides; references must follow APA or school-specific format. Check with yourprofessor for any additional instructions.Include a cover page containing the title of the assignment, the student’s name, theprofessor’s name, the course title, and the date. The cover page and the reference pageare not included in the required page length.The specific course learning outcomes associated with this assignment are:Evaluate the effectiveness of traditional bases for pay (seniority and merit) againstincentive-based and person-focused compensation approaches.Compare and contrast internally consistent and market-competitive compensationsystems.Evaluate the role of benefits in strategic compensation.Use technology and information resources to research issues in compensationmanagement.Write clearly and concisely about compensation management using proper writingmechanics.Grading for this assignment will be based on answer quality, logic / organization of the paper, andlanguage and writing skills, using the following rubric.Please click here to view the grading rubric.
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