Designing a Compensation Package

Instructions

Designing a Compensation PackageUsing the job description and evaluation method that you created for the exercises in Weeks 2 & 3, and the feedback from peers, design a proposal for a competitive compensation package for the position, including the following elements:Job descriptionMethod of Job evaluationIntrinsic and extrinsic benefitsCompensation package and rationale for sameHow performance will be measuredWhy the proposal you have created is appropriate for the market at this time.Compensation strategy.The proposal should be formatted in accordance with APA, 6th edition, and the guidelines of the template provided at the Ashford Writing Center (Links to an external site.).  It should be between 2000 2500 words in length excluding title page and references.  Be sure to include at least six scholarly and/or popular sources, one of which must be the course text

Answer

Designing a Compensation PackageIntroductionAn impeccable compensation package means that a company cares for its employees. It values the time, skills, and energy they put into work. It also shows that the firm is generally interested in maintaining the customers. Further, the package is largely important in projecting a positive image of a company. Thus, many players in the industry are bound to have a better view of the company (Shin et al., 2015). Notably, it is possible for them to be more willing to associate with the organization. Further, the approach enables an organization to gain access to highly competent personnel. Also, most of them are likely to be more motivated in handling their roles effectively with the need to create the best outcomes in line with the goals established...
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