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Essay Available:
Pages:
3 pages/β‰ˆ825 words
Sources:
4 Sources
Style:
APA
Subject:
Management
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
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Topic:

Crafting a Compensation and Benefits Plan

Essay Instructions:

Now that you have considered how to recruit and retain the employees you want in your organization, create a compensation and benefits package using the business proposal format in the Assignment 4 Outline Download Assignment 4 OutlineWord document(attached). The package must be consistent with the objectives of job satisfaction for the valuable employees in an organization of your design.
Include the following:
Salaries and benefits packages of comparable organizations in the same industry.
What employees working in the 21st century consider to be benefits (see this week’s recommended readings for a start).
What helps to keep employees engaged in their work (see State of the American workplace: Employee engagement for U.S. business leadersLinks to an external site. and Surprising, Disturbing Facts from the Mother of All Employee Engagement SurveysLinks to an external site. for some ideas).
Please review the Word 2010 create and edit tablesLinks to an external site. video. Closed captioning and transcript of the video is provided in the tool bar of the video player.
Your business proposal must be formatted according to APA style as outlined in the Writing Center, must include a separate reference page, and must include citations from the text and at least four scholarly sources, one of which must be from the University of Arizona Global Campus Library.
Text
Text
Youssef-Morgan, C. M., & Stark. E. (2020). Strategic human resource management: Concepts, controversies, and evidence-based applications. Retrieved from https://content(dot)uagc(dot)edu/
Chapter 9: Compensation and Incentives
Chapter 10: Benefits and Benefits Administration

Essay Sample Content Preview:

Crafting a Compensation and Benefits Plan
Author’s Name
The Institutional Affiliation
Course Number and Name
Instructor Name
Assignment Due Date
Crafting a Compensation and Benefits Plan
Introduction
Groom is a newly established clothing company based in the USA that specializes in providing high-quality, fashionable clothing for men. The company was founded to offer unique and stylish apparel options to men who prioritize fashion and personal style. Through its commitment to its employees, Groom aims to establish a positive and inclusive workplace culture that fosters growth, development, and success. Groom’s competitive compensation and benefits plans attract top talent and promote employee well-being and job satisfaction, ultimately leading to a positive workplace culture and overall success.
Background of Organization
Groom is a men’s clothing company that offers high-quality and fashionable clothing items for men. Groom’s clothing range includes casual, formal, and accessories such as belts, ties, and wallets. Groom has a strong presence in the USA but also sustains its business in other countries. The company has plans to expand its operations globally and increase its customer base. Groom aims to establish a strong presence in Canada, the UK, and Australia. In terms of the industry, the men’s clothing market is highly competitive. Groom competes with companies such as Men’s Wearhouse, Jos. A. Bank, and J.Crew. These companies offer similar products and services to Groom and are committed to sustainability and ethical manufacturing practices.
Compare/Contrast of Industry
To compare Groom’s working offerings, employees’ compensation, and benefits plans with three other clothing companies, Everlane, J.Crew, and Reformation, a table is provided below:
Table SEQ Table \* ARABIC 1: Three Competitive Companies to Groom
Company

Working

Offerings

Compensation and Benefits Plans

Groom

Committed to sustainability

High-quality and fashionable articles

Competitive base salary, performance-based bonuses,

Everlane

Transparent supply chain

Sustainable and ethical fashion

Fair wages, benefits, profit-sharing

J.Crew

Timeless fashion

High-quality clothing and articles

Rewards, price cuts

Reformation

Sustainable fashion

Eco-friendly materials

Wellness programs, flexible work

The groom provides men with unique and stylish clothing options while prioritizing sustainability in its production processes. Everlane is committed to transparency in its supply chain and offers sustainable and ethical fashion items (Tedsungnon, 2020). J.Crew provides its employees with competitive pay, bonuses, benefits, and discounts to its employees. Reformation offers competitive pay, be...
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