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HRMT 200 Human Resource Management Assignment

Added on - 20 Sep 2019

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HRMT 200 - Individual Assignment: Total Compensation Case StudyComplete the reading and research for both Parts 1 and 2, then answer the questions below. Marks willbe awarded based on how well your answer:presents and summarizes the relevant material in the caseexplores alternatives that reflect your understanding of key concepts and ideas aboutcompensation and benefitsIdentifies a logical recommendation or solution, using the materials covered in the textbook andin class.Please refer to the marking key for information about criteria and weighting. You should plan on writingabout 1-2 short paragraphs for each section (e.g. about 9-12 paragraphs in total).Part 1 - Compensation (25 marks)1. Read Incident 9-1 (Reynolds Plastic Products), pp. 455-456 in Schwind (2016). Assume thatReynolds Plastic Products is located in Edmonton, Alberta.Refresh your understanding of the relevant employment laws affecting compensation in Alberta(refer back to your notes and materials Legal Environment).Research the internet to compare the compensation being paid to Reynolds Plastic employeestoother relevant external sources of hourly/salary information (e.g., what way(s) are Reynolds Plastic Products' current pay practices contraveninganylegal requirements in Alberta? For each contravention that you identify, please proposehow Reynolds Plastic Products can meet its legal requirement(s).b)Evaluate the incentive compensation practices that are being used by ReynoldsPlastic Products.i.Describe what is appropriate or inappropriate about their current practices.ii.Explain why you have determined this (e.g. what are the issues here?)iii.Discuss possible alternative practices that might be considered to improvestaffing outcomes (e.g. effects on engagement, recruitment, retention, etc.).iv.Present your recommended strategy or solution(s) (e.g. what should they donext or instead?).
Part 2 - Benefits2. Re-read Incident 9-1 (ReynoldsPlasticProducts), pp. 455-456 in Schwind (2016).Review the Alberta Blue Cross health and dental benefits summary on the internet (Plans A andB, that ReynoldsPlasticProducts currently offers no benefit plan to employees, but theyare considering a modest plan modeled after Benefit Plan A for all sales, hourly/productionemployees, and modelled after Benefit Plan B for all managerial/executive staff. Theorganization plans to pay 50% of the premiums, the employees to pay for the other 50% of thepremiums. The anticipated total monthly premium costs are displayed below:Plan APlan BSingle Premium$40 / employee /month$60 / employee /monthFamily Premium$100 / employee /month$120 / employee /monthBased on current employee demographics, Reynolds anticipates there will be 30 single Plan Asubscribers, 10 single Plan B subscribers; 65 family Plan A subscribers, 12 Plan B familysubscribers.Evaluate the employee benefits plan that is being considered by Reynolds Plastic Products.a)Describe what is appropriate or inappropriate about their plans.b)Explain why you have determined this (e.g. what are the issues here?)c)Discuss possible alternative practices that might be considered to improve humanresources management outcomes (e.g. effects on engagement, recruitment, retention,etc.).d)Present your recommended strategy or solution(s) (e.g. what should they do or donext?).
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