Read the attachment and develop a compensation plan for this Human Resource Management Class. Answer the following questions below please. 4-6 pages please and also use more than the attachment as a reference. Need to have this back by Wednesday by noon.
Develop a progressive yet competitive compensation plan that will support recruiting and retention efforts and lower the employee turnover rate. Traditionally, Motors and More has provided employees minimum wage and statutory benefits.
A. How does Motors and More’s employee compensation compare relative to other organizations in the area? Will the organization meet, lead, or lag the local market? Explain your rationale.
B. Identify alternative pay methods and discuss the advantages and disadvantages of each.
C. What benefits will you offer? Include statutory benefits. What are the costs of those benefits? What is the rationale for offering those benefits?
D. Develop a communications plan regarding how employees will be informed about the compensation plan. Define the sequence of communications considering the who, what, and when of the message.
