Benefits and Compensation
Benefits and Compensation essay assignment
Benefits and Compensation essay assignment
PREPARATION
Research compensation and benefits for either Java Corp., or an organization of your choice. The Compensation and Benefits Template (linked in the resources) provides additional guidance on components that comprise employee pay or salary and benefits. A minimum of two resources are required to support your work.
SCENARIO
For this assignment, choose either option 1 or 2. You do not need to do both. You will apply one of these scenarios in the Instructions below. Both options will be graded using the same scoring guide.
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Option 1
You are the new HR manager for Java Corp., a domestic cold coffee and tea company. Java Corp. is opening a new office in London, England. You are planning on filling one executive-level position with a U.S. citizen who is not already employed by Java Corp. The term of the initial assignment is two years. You must design a preliminary compensation package for this position.
Option 2
Choose an organization to use for this assignment. It can be where you are currently employed or a company with which you are familiar. It I be an organization that is researchable, as you will need to gather and analyze information to complete the assignment. You may use the same organization you used for the previous assignments or a different one. If you choose the organization where you are currently employed, please keep in mind that the analyses you make must be based on facts that can be documented rather than your personal opinion as an employee. Research compensation and benefits for the chosen organization. The company is opening a new branch office in London, England. You are planning on filling one executive-level position with a U.S. citizen who is not already employed by your company. The term of the initial assignment is two years. You are the new HR manager and must design a preliminary compensation package for this position. Contact your instructor if you have questions.
REQUIREMENTS
Using the Compensation and Benefits Template as a guide, create a compensation package for a new expatriate position. Include the following:
Pay or Salary
Complete the following:
Describe key factors and decisions to make regarding base pay. Note: You do not need to indicate exact salary figures for this assignment.
Analyze additional pay considerations for expatriate positions.
Consider incentive pay, foreign service premium, hardship allowance, and mobility premium.
Benefits
Complete the following:
Analyze other legally required benefits for an employee.
Include standard benefits, protection programs and paid time off, Social Security, Medicare, federal and state unemployment, and workers compensation.
Analyze the appropriateness of offering additional benefits.
These types of benefits could include relocation assistance, educational reimbursement, and home leave reimbursement, among others.
Describe additional key considerations in designing a compensation package for this scenario’s expatriate position.
ADDITIONAL REQUIREMENTS
Your assignment should meet the following requirements:
Length: 3–5 typed, double-spaced pages, plus a reference page.
Written communication: Communicate in a manner that is scholarly and professional. Your writing should be:
Concise and logically organized.
Free of errors in grammar and mechanics.
Validation and support: Use a minimum of two relevant and credible scholarly or professional resources such as the Wall Street Journal to support your work.
APA format: Format all citations and references in accordance with current APA guidelines.