HRM2001S Human Resource Management Analysis 2022

Human Resource Management
NAME OF STUDENT:
COURSE NAME:
HRM2001S 0

HRM2001S 1
Analysis
How will you ensure the workforce is receiving the appropriate benefits and
compensation to achieve its objectives?
In order to insure that workforce is receiving adequate benefits and compensation to
attain their objectives it is required to form a team that can assess company’s existing reward
system and suggest opinion for improvement. To measure benefit and compensation structure
that is currently offered such teams can conduct industry benchmark surveys, evaluate
existing reward approaches and survey staffs attitude towards rewards to attain informed
insight. Example teams can build focus groups to collect information on efficacy of existing
total reward systems and they can highlight concerns that employees may face related to
benefit and compensation. These focus groups can include management and staffs to voice
issues and queries for reward system and such groups can highlight surveys. Other measure is
to survey industry standards for reward practices so that these can capture information on
effectiveness of reward systems. Additionally surveying employees attitude towards reward
system can highlight added value information to assess effectiveness of reward structures
(Bolander, Snell & Sherman 2015). Like Pay satisfaction questionnaire can be given to staffs
to evaluate attitude towards base pay, pay hike, reward system and administration and
benefits.
Outline your integrated Benefits plan and Compensation package and its
communication
Outline for Integrated Benefit and Compensation package for the company can be: