Strategic Benefits Structure


Strategic Benefits

For CapraTek management, write a 3-4 page report for a benefits structure that is commensurate with job classifications.IntroductionThe challenge for this assessment is to create a benefits structure that includes both legally required and discretionary benefits, taking into consideration an overall total rewards strategy for an organization. This should include an alignment with your pay structure. Individual and organizational performance should be evaluated.Preparation The HRM professional or compensation expert should have the ability to strategically manage the compensation for a flexible workforce. Because your previous work has been well received by management and you are viewed as a “rising star,” your manager has asked you to expand on your work and develop a 3–4 page benefits structure report for CapraTek commensurate with job classifications.CapraTekCapraTek is a virtual technology company. The assessment is based on the CapraTek scenarios.CapraTek Key Issues and Initial Analysis. oThis simulation walks you through identifying key issues that will affect a strategic compensation plan and analyzing the basic organizational information necessary to make decisions and recommendations about a strategic compensation plan.CapraTek: Strategic Pay Structures. oGet the perspective of CapraTek employees and determine the elements needed for a strategic pay structure.Assessment InstructionsTo complete this HR challenge, write a 3–4 page benefits structure report. This report must be written in the third person, adhering to conventions of academic tone.Organize your 3–4 page benefits structure report using the following headings:Benefits StructureConstruct a benefits structure for CapraTek, including legally required benefits, retirement plans, and discretionary benefits.Alignment to Pay StructureValidate the alignment of your benefits plan to your pay structure. Evaluation

Evaluate strategy considerations, including individual and organizational performance and the overall total rewards.Note: Your faculty may also use theWriting Feedback Tool to provide feedback on your writing. In the tool, click the linked resources for helpful writing information.ePortfolioYou should consider adding this assessment to your personal ePortfolio. This assessment demonstrates your ability to share a design for a pay structure. This skill is necessary in a professional setting when you are trying to make strategic compensation recommendations. You will want to organize your assessments to easily support future reflection and completion of your HRM capstone project as well as for showcasing your knowledge with employers after graduation. For more information on ePortfolio, visit the CampusePortfolio page.Additional RequirementsThe deliverable for this assessment applies professional skills in HRM to workplace situations that you will likely encounter in your day-to-day work in HRM. As part of your learning, focus on the development of effective professional communication skills for the workplace.Length: Your report should be 3–4 pages. Organization: Make sure that your assignment writing is well organized, using headings and subheadings to organize content for the reader.Font and font size: Times New Roman, 12 point.Resources: Use two scholarly, peer-reviewed or academic sources.Evidence: Support your assertions with data and/or in-text citations and create a reference list as the final page.APA formatting: Resources and in-text citations are formatted according to current APA Style and Format. Written communication: oAddress the appropriate audience, using familiar, discipline-specific language and terminology.oUse spell-check and other tools to ensure correct spelling and grammar.Competencies MeasuredBy successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria: Competency 2: Apply compensation theories to formulate a total rewards strategy.oEvaluate total rewards strategy in a given scenario.Competency 3: Analyze the influence of job classification systems on compensation programs.

oSynthesize strategic benefit components into the pay structure for a given scenario. oSynthesize legally required benefits into a pay structure for a given scenario. Competency 4: Communicate clearly, accurately, and professionally in the human resources management field.oWrite in the third person, adhering to conventions of academic tone.