9 Hours- 11 pages

11 pages

You need to develop a compensation plan for managers in the United States. The compensation plan should include salary, benefits, and any fringe benefits to attract the most qualified people. The plan should also address any legal compensation requirements. Write it in 11-12 pages

paper should have at least three (6) reputable sources.

Focus on these points –Most of the points should be covered from the particular topics

· Have develop compensation plan which includes Salary, benefits and any fringe benefits to attract most qualified people. Plan should also address any legal compensation requirements

· Be able to explain the goals of a compensation plan.

· Be able to explain the internal and external considerations of compensation package development.

· Know how to develop a compensation philosophy.

· Explain types of job evaluation systems and their uses.

· Be able to define and discuss the types of pay systems and factors determining the type of pay system used.

· Know the laws relating to compensation.

· Explain the various types of benefits that can be offered to employees.

· Be able to create Key Performance Indicators.