Assignment 2: Compensation Plan Outline

Using the same company you researched in Assignment 1, evaluate the company’s compensation plan to determine how it could be improved.

Write a seven to nine (7-9) page paper in which you:

Evaluate the existing compensation plan to determine if it is the most appropriate for your company. Explain your rationale.
Determine the most beneficial ratio of internally consistent and market consistent compensation systems for the company you selected.
Evaluate the current pay structure used by your company and assess the recognition of employee contributions.
Make two (2) recommendations for improving the effectiveness of the discretionary benefits provided by the company you selected.
Evaluate the types of employer-sponsored retirement plans and health insurance programs provided by the company you selected and compare them to that company’s major competitors.
Use at least three (3) quality references. Note: Wikipedia and other websites do not qualify as academic resources.

Your assignment must follow these formatting requirements:

This course requires use of new Strayer Writing Standards (SWS). The format is different than other Strayer University courses. Please take a moment to review the SWS documentation for details.
Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; references must follow SWS or school-specific format. Check with your professor for any additional instructions.
Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are 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) against incentive-based and person-focused compensation approaches.
Compare and contrast internally consistent and market-competitive compensation systems.
Evaluate the role of benefits in strategic compensation.
Use technology and information resources to research issues in compensation management.
Write clearly and concisely about compensation management using proper writing mechanics.
Thoroughly evaluated the existing compensation plan to determine if it is the most appropriate for your company. Thoroughly explained your rationale.
Thoroughly determined the most beneficial ratio of internally consistent and market consistent compensation systems for the company you selected.
Thoroughly evaluated the current pay structure used by your company and thoroughly assessed the recognition of employee contributions.
Thoroughly made two (2) recommendations for improving the effectiveness of the discretionary benefits provided by the company you selected.
Thoroughly evaluated the types of employer-sponsored retirement plans and health insurance programs provided by the company you selected and thoroughly compared them to that company’s major competitors.
Exceeds number of required references; all references high quality choices.
0-2 errors present

20190506225524business_409_assignment_1_mott_macdonald_compensation_practice

20190506225506su_writing_standards_fall2018

Solution Preview

Introduction

Compensation practice was earlier identified to be a common phenomenon in all business organizations. Compensation practice involves the rewards presented to employees of a certain organization depending on their contributions to the organization. As such, each organization n ought to have a pre – set compensation plan for their employees. Mott McDonald is a British company which deals with construction and consultation services. This company has an employee count slightly exceeding 16,000 and operates in an approximately 150countries worldwide. As such, Mott McDonald ought to have a proper compensation plan for their employees who at the moment have their own share f ownership in this for – profit organization. Mott McDonald has been conducting a compensation strategy very special from any other company, not only in the engineering phase but also in the world at large. This paper analyzes the compensation practice of Mott McDonald and goes further to design a compensation plan which would better the already existing compensation plan of Mott McDonald.

(2,109 words)