Hrm 531 Week 3 Compensation and Benefits Strategies Recommendations

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HRM 531 WEEK 3 COMPENSATION AND BENEFITS STRATEGIES RECOMMENDATIONS Complete the Compensation and Benefits Strategies Recommendations task as described in the Email from Traci on the Atwood and Allen Consulting Page.

Learning Team Assignment: Compensation and Benefits Strategies Recommendations

Purpose of Assignment

For this task, Traci has asked your team to develop compensation and benefits strategies for your client. It is important to understand the relationship of compensation and benefits to achieving business objectives and employee attraction and retention. You will also need to consider the increasing cost of compensation and benefits and appropriate actions management may take to maintain or reduce this cost factor. It is important that any business have a compensation and benefits plan that not only attracts and helps to retain quality employees, but also allows the business to survive financially.

Resources Required

Week Three e-mail from Traci and Week Three client communications

Includes results of a market evaluation

Recommends a compensation structure

Recommends position in the market

Includes a total compensation and benefits strategy

Includes the use of performance incentives and merit pay to recognize and engage employees when appropriate

Identifies laws related to benefits and pay programs

The recommendation is no more than 1,750 words in length.

Format your paper consistent with APA guidelines. Use at least four (4) references from the reading assignment, Internet articles, Electronic Reserve Readings articles, or HR journal articles to support your paper. At least one(1) in-text citation must be from the text book.