HRM 531 Week 5 Individual Assignment: Career Development Plan IVCompensation
Because InterClean is embarking on a new strategic direction, upper management has asked you to suggest a new compensation plan specifically for your team. Propose your ideas and rationale to the human resource department manager for approval.
Resources: The Management Behavior, Career Development Plan Part IJob Analysis and Selection, Career Development Plan Part IIDevelopment of a Training and Mentoring Program, and Career Development Plan IIIPerformance and Career Management assignments
Review the Management Behavior assignment, completed Week One; the Career Development Plan Part IJob Analysis and Selection assignment, completed Week Two; the Career Development Plan Part IIDevelopment of a Training and Mentoring Program assignment, completed Week Three; and the Career Development Plan IIIPerformance and Career Management, completed Week Four.
Write a 700- to 1,050 word proposal that includes the following information:
Describe a new compensation plan for your employment team.
Explain why your pay system will work.
Describe three components of a total rewards package that would motivate employees to reach peak performance.
Describe your compensation plans benefits to the individual as well as to the company.