BUS FP3040 Assessment4 2.docx BUS-FP3040 Compensation and Benefits Capella University

Document Content and Description Below

BUS FP3040 Assessment4 2.docx BUS-FP3040 Compensation and Benefits Capella University BUS-FP3040 Fundamentals of Human Resource Management Compensation and Benefits Key Factors Regarding Base ... Pay The new office in London, England opens in two months and a new compensation package must be designed to entice prospective employees. The design of this package will be structured around salary and benefits. Key factors to consider would be pay level and pay structure. Similarly, factors such as equal base salary from similar job titles and duties need to be considered. A minimum base salary of our current executives should be applied to the base starting salary of our new position. The new salary must be equal to current executives considering they are doing similar work. The pay level includes wages, salaries, and bonuses, these will be like our current positions (Noe, 2019). One consideration to make will be attracting top talent for this position and therefore may need to slightly elevate salary and or bonuses for exceeding performance goals. Alternatively, we can entice suitable applicants with additional pay considerations including, incentive pay, foreign service premium, hardship allowance, cost of living expenses, and mobility premium. The salary of our executives must remain equal, therefore for this position we must consider alternative methods to incentivize candidates. Offering incentive pay in the form of a sign on bonus and performance bonus will entice motivated applicants. These types of . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . .. .. . . . . . . . . . . . . . . . . . .. . . . . [Show More]

Last updated: 1 year ago

Preview 1 out of 4 pages