Research the Company McDonalds on its Compensation and Benefit Plans

Compensation and benefits-McDonalds case study
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Health
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Introduction
Compensation and benefits are a fundamental component of human resource department. Known as a reward system, compensation and benefits play a significant role in employee motivation and productivity. Compensation is a complex phenomenon that includes direct and indirect rewards and benefits an employee is provided with in return for their contribution to the organization.
Compensation is typically a bonus to an employee in return for the job was done, it always regards salary and wages. (Warren, Gorham & Lamont. 1985). This is determined by market forces and base pay set internally by the organization. Benefits, on the other hand, means nonmonetary payments advanced to employees in return for their contribution to the organization. Compensations are workers' rights while benefits are subject to federal and organization's directive. Compensation and benefits work well in the organization to motivate and retain skilled workers. In addition to the constant motivation, compensation systems also serve to progression paths and compensation systems that retain and reward individuals who have developed managerial skills and knowledge critical to the company's business needs
This paper analyzes McDonald's compensation and benefits strategy, how it affects the human resource at McDonalds and possible changes required to better it.
McDonald’s compensation plan analysis
Over the years, McDonalds has implemented, and incentive compensation plan meant to keep it afloat in the competitive fast food business and also make it profitable. McDonald's case is evidence how reward and benefits enhance employee engagement and business performance.
The company has invested in approaches to, flexible working, training and compensation program has not only retained workers, ensured the growth of profits but also won awards. That the company invests in skills and training is a major contributor.
The company through their people profit plan gives competitive packages to employees. Most employees feel respected and motivated to work with McDonald. While others feel satisfied with their growth and personal development. McDonald's model breaks employee contributions into two components: confidence and competence. It has engaged in a lot of skills training to ensure the employees are competence enough to carry out their duties. While trust is realized by employs looking forward to coming to work, feeling motivated and feeling proud to work for the company. According to a report by (Armstrong, Brown & Reilly, 2010) working for McDonalds increased young workers confidence and communication skills.
To sustain trust and competence throughout its franchisees, McDonald, offers competitive and innovative packages to its staff from the hamburger guy to senior managers. These benefits include higher pay and allowances, private healthcare packages for all employees, comprehensive product discount scheme covering over ninety companies and pro...