HRM 531 Week 5 Individual Assignment Career Development Plan IV Compensation

HRM 531 Week 5 Individual Assignment - Career Development Plan IV—Compensation

Individual Assignment: Career Development Plan IV—Compensation

Because InterClean is embarking on a new strategic direction, upper management has asked you to suggest a new compensation plan specifically for your team. Propose your ideas and rationale to the human resource department manager for approval.

Resources: The Management Behavior, Career Development Plan Part I—Job Analysis and Selection, Career Development Plan Part II—Development of a Training and Mentoring Program, and Career Development Plan III—Performance and Career Management assignments

Review the Management Behavior assignment, completed Week One; the Career Development Plan Part I—Job Analysis and Selection assignment, completed Week Two; the Career Development Plan Part II—Development of a Training and Mentoring Program assignment, completed Week Three; and the Career Development Plan III—Performance and Career Management, completed Week Four.

Write a 700- to 1,050 word proposal that includes the following information:

Describe a new compensation plan for your employment team.

Explain why your pay system will work.

Describe three components of a total rewards package that would motivate employees to reach peak performance.

Describe your compensation plan’s benefits to the individual as well as to the company.

Note. APA format is not required for this proposal; however, you must include a title page and a reference page.