Compensation and Benefits – HRM Simulation

Simulation: As a Human Resource Manager (HRM) for Vanguard Industries, your assignment is to explain to the Chief Executive Officer (CEO) the economic factors that guided you in the development of the company’s compensation and benefit package.

Explain how the regulations discussed in chapter three affect the compensation and benefit plan
Provide an analysis of how the compensation and benefit plan will be managed
Thoroughly explain how the economic factors guide you in the development of your plan (tax implications, cost for the employee vs. cost for the company, etc.)
Purpose: This assignment is an exercise in your reasoning skills. As an HRM you must solve problems and the best way to solve a problem is to reason through them. The exercise provides you the means to think critically and to use the concepts, principles and processes that have been described in your readings, the peer discussions and the feedback in the discussions.
To be successful, you must describe the problem and then describe how your solution using the concepts from the text will help make the organization more effective. Talk about your solution from a strategic organization view (long term impact).
Explain why you are making the assumptions you are making and why you chose your point of view. Offer at least one recommended course of action that would you would assist in achieving the organization’s strategic goal. The following are your objectives (weighted at 20% per):
1. State the issue or problem clearly and form a thesis.
a. Express the problem in several ways to clarify its meaning and scope

2. Identify and justify your assumptions used for shaping your point of view.
a. Clearly identify your assumptions and explain why or why they are not justifiable
b. Explain how your assumptions are shaping your point of view

3. Identify appropriate concepts from the text or other research to support your ideas.
a. Identify key concepts and explain them clearly
b. Consider and explain other concepts or alternative definitions of concepts

4. Clearly stated a solution to the problem presented.
a. Explain your solution to the problem based on the data from both the situation and the concepts from your readings and your research
b. Offer alternate solutions to the problem Explain the potential outcomes for the organization for using and not using your solution

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