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Componets of Total Compensation Package

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Based on the company Glenview Plastic Systems
1,750-2,450-word paper in which you identify the components of the total compensation package. Also, assess the implications of internal equity and external competition in pay structure. Explain the relationship between an organization's compensation system and its ability to compete externally. Answer the following questions :
a. What types of monetary and non-monetary compensation does the organization use?
b. How does the organization assess internal equity and external competitiveness?
c. What internal and external factors have influenced the pay structure and external competitiveness?
d. How do employees perceive the pay structure?
e. What are some recommendations for the company to improve internal equity within its pay structure?
f. How does the organization's ability and willingness to pay affect the competitiveness of the organization?
g. What are some recommendations to improve its pay structure relative to its competitors?

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In accordance to the BrainMass policy, this is not a completion of assignment but only background help.
STEPS
a. What types of monetary and non-monetary compensation does the organization use?

The only compensation that Glenview uses is monetary compensation.

b. How does the organization assess internal equity and external competitiveness?
Internal equity is assessed by keeping the employees at one level in the same pay scale for example the sales and business directors are in the same range of $90,000-$120,000 and the sales persons and online supervisors are in the salary range of $50,000-$72,000. However, there is a difference in the compensation paid to the two types of personnel. The Sales director gets an additional 0.5% commission on the entire sales and each of the sales persons get 1.5% commission on sales. Internal equity assessment is minimal. Feedback is not allowed to reach Sinclair and the supervisor settles compensation related issues. Sinclair is very clear as most of the sales persons in Minnesota get incentives he gives them commission and production personnel do not get commission and so he does not pay them. In other words, he only uses external equity to make his decisions. On the other hand the business directors and online supervisors get lower compensation than their sales counterparts. This does create some murmurs of dissatisfaction but every one sticks to their jobs because Sinclair pays them better than what they would get elsewhere and there are few other ...

Solution Summary

This posting discusses the issues of Internal Equity and External Competitiveness.. These issues are discussed in the context of Glenview Plastic System..

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MGT330 Unit 4 Compensation 4-6 pages
James Richards has an electrical engineering degree from a United States' accredited university. Upon graduation he was offered, and he accepted, an entry-level engineering position at a firm in San Antonio, Texas. He has been gainfully employed with this firm for the last five years. Recently he interviewed with your firm which is located in Chicago, Illinois. You, working for the human resources department, want to employ James. Working in conjunction with your supervisor you are drafting three items; (1) a compensation package, (2) an incentive plan, and (3) a benefits plan in order to successfully employ James Richards with your organization.

Using the Internet and Library, locate all necessary information for constructing these three packages. This will include designing plans that are specific to James and this situation, including the pay rate that will be offered, and the specific benefit and incentive plans this offer will include. Along with these packages you will include a one page cover letter that outlines what you propose to offer. The cover letter should be addressed to your supervisor and should explain and justify the compensation package, incentive plan, and benefits plan. Your detailed plans will then follow that cover page.

This is a research assignment so be sure to include and cite your research in the paper.
There are 4 components required for successful completion of this IP: (1) a compensation package you suggest for James (including the specific pay rate that will be offered) (2) an incentive plan you feel will be effective for persuading James to take the position (specific incentive plans this offer will include) and (3) a benefits plan (specific benefits this offer will include)
Using the Internet and Library (notice that external research is required) locate all necessary information for constructing these three packages. Be sure to cite your sources within the paper (package) so that I am able to see how you obtained your data, and how that information was used to support what you plan to offer. Again, the in-text citing within the paper (not just the cover letter) is required. Although that would not normally be included in an offer, for the purpose of this assignment it is important to include.

Along with these packages/plans you will include a one page cover letter that outlines what you propose to offer. The cover letter should be addressed to your supervisor and should explain and justify the compensation package, incentive plan, and benefits plan. Your detailed plans will then follow that cover page. Be sure you do more than simply "list" the incentives and benefits in those plans. You are expected to include the details necessary to explain what you plan to offer James.
*************************************************************************************MGT330 Unit 4 DB

Students should conduct a debate on the discussion board to address the topic of the assignment. This is done via an initial posting with your thoughts, and then responses to other students on their posts.

Most job candidates are concerned with baseline pay. Incentives and benefits do very little to persuade a candidate to accept an organization's employment offer if baseline compensation is slightly below the candidate's expectations.

Following the discussion, post a follow up paragraph DB response indicating which side of the issue was most persuasive to you and why.

This assignment is completed in three parts.
Step #1 Make an initial post discussing your thoughts on the following statement: "Most job candidates are concerned with baseline pay. Incentives and benefits do very little to persuade a candidate to accept an organization's employment offer if baseline compensation is slightly below the candidate's expectations"
As a 2nd step you will engage in dialogue with others on the DB with 2 or more well developed replies.
As a 3rd step you will make your follow up one-paragraph post indicating which side of the issue was most persuasive to you and why.

All 3 steps are required for successful completion of this assignment. Your research must be applied and cited in either the initial or final post.

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