Business Research Report
Business Research Report
Human Resource - Compensation
Presented to: Human Resource Director
Assessment Code: RWT1
Date: January 4, 2014
By: Juana Garcia Table of Contents
Executive Summary 3
Introduction 4
Research Findings 5
Compensation Strategies Available 5
Other Forms of Compensation/Benefits 6
Implementation of Compenstion Strategies 7
Recommendations 8
Conclusion 9
References 10
Executive Summary
Finding the right compensation is only the first step in the process and other benefits must also be considered. This report is was prepared to compare and contrast different compensation strategies and their implementation to the organization.
The research findings that will be shown in this report are different compensation strategies available for adoption, other forms of compensation and benefits, and also implementation of these different compensations. Gain sharing, nonmonetary awards, and group based awards will be the three compensation strategies that the report will be focused on.
Three recommendations will be presented to the human resource director. The first will introduce nonmonetary awards followed by gain sharing. The second will also start with nonmonetary awards and then implementing group based rewards. Lastly, the third recommendation will introduce both gain sharing and group based rewards as a strategy.
All three of these recommendations can be supplemented by adding benefits such as tuition reimbursement, flexible work schedules, or stock options. There are several other benefits that the organization can add while keeping cost down and decreasing employee turnover.
In conclusion, there are several compensation strategies and other benefits that can be applied, but the key is the implementation design required for their success. There must be collaboration by all parties of the organization and communication with all employees to ensure that the right strategy has been chosen.
Human Resource - Compensation
Presented to: Human Resource Director
Assessment Code: RWT1
Date: January 4, 2014
By: Juana Garcia Table of Contents
Executive Summary 3
Introduction 4
Research Findings 5
Compensation Strategies Available 5
Other Forms of Compensation/Benefits 6
Implementation of Compenstion Strategies 7
Recommendations 8
Conclusion 9
References 10
Executive Summary
Finding the right compensation is only the first step in the process and other benefits must also be considered. This report is was prepared to compare and contrast different compensation strategies and their implementation to the organization.
The research findings that will be shown in this report are different compensation strategies available for adoption, other forms of compensation and benefits, and also implementation of these different compensations. Gain sharing, nonmonetary awards, and group based awards will be the three compensation strategies that the report will be focused on.
Three recommendations will be presented to the human resource director. The first will introduce nonmonetary awards followed by gain sharing. The second will also start with nonmonetary awards and then implementing group based rewards. Lastly, the third recommendation will introduce both gain sharing and group based rewards as a strategy.
All three of these recommendations can be supplemented by adding benefits such as tuition reimbursement, flexible work schedules, or stock options. There are several other benefits that the organization can add while keeping cost down and decreasing employee turnover.
In conclusion, there are several compensation strategies and other benefits that can be applied, but the key is the implementation design required for their success. There must be collaboration by all parties of the organization and communication with all employees to ensure that the right strategy has been chosen.