Writing Homework Help
Writing Homework Help. Edit revise final paper and ppt
professors advise
part 1; more research, analysis and critical thinking – I expected to see a discussion on the healthcare offerings/plans of Metronic’s. Healthcare is one of the biggest concerns of both employers and employees over that of work/life balance issues like PTO and holidays. The entire paper veered away from those issues and concerns that were more important to both employer and employees. You may want to conduct more research and analysis of this case and include the results in the final paper.
part 2
I thought this paper needed more research, analysis and critical thinking. See comments in paper and rubric on where improvements could be made for incorporation into final paper for a better grade on this portion of the paper.
Benefits and Compensation Analysis: Misalignment, Differences, and Gaps:
The discussion mentions misalignments, gaps and differences but did not identifying and discuss them in any detail. Within the current benefits plan at Medtronic, there are several misalignments in comparison to that of competitors, based on the external benchmarking data provided. First, according to Herzlinge, Hurwich, and Bokser (2014), Medtronic’s employees pay $49.00 per month for single coverage with HealthPartners, and $146.00 for an employee plus two or more with HealthPartners; $78.25 for single coverage, and $242.75 for an employee plus two or more with Medica Choice; $11.40 for single coverage, and $24.05 for an employee plus one with Definity Health’s high deductible plan. Adversely, according to Herzlinge, Hurwich, and Bokser (2014), with competitor A’s Value PPO insurance, non- smoking single coverage employees pay $23.00 a month, and a non-smoking employee plus two or more pays $103.00. Also, with Competitor A’s Choice Plus PPO insurance, a single non-smoking employee pays $60.00 a month, and the employees plus two or more pays $179.00 per month. In both instances, the employer covers more of the total monthly cost. Furthermore, as indicated by Herzlinge, Hurwich, and Bokser (2014), with competitor B’s PPO Advantage Plan, single employees pay $39.00 a month and $148.00 a month for an employee plus others. These monthly employee premiums indicate that according to the industry standard, most employers in this market pay more of the total month premium, while the employee’s portion of the total month’s cost is less.
This indicates that the main misalignment of Medtronic’s insurance plans is that the company is not covering as much of the total monthly premiums as competitors are. Such misalignment could create a competitive disadvantage for Medtronic, as most employees expect that employers will cover all or most of their month. Lesonsky (2017) suggests, according to a survey offered by the Employee Benefit Research Institute, most employers pay the full monthly premium or a portion of the health insurance premium for employees. Furthermore, Lesonsky (2017) proposes the idea that employees believe that it is customary for employers to cover all or some of their monthly health insurance premium. Moreover, according to Fronstin, Employee Benefit Research Institute (EBRI), and Greenwald (2016), employees see lower expenses as one of the main advantages of having health insurance benefits from the work place. This implies that Medtronic’s employees may expect to pay less for monthly premium coverage. Therefore, not offering lower monthly premiums for employees creates a misalignment for Medtronic, because their competitors offer lower monthly premiums to their employees.
Some of the differences between Medtronic’s insurance plans and competitor insurance plans are that competitor A offers smoker/ non-smoker coverage while competitor B has clinics at the job site for employees. Also, with competitor A, non-smoker employees receive a benefit of paying less money per month toward their premium for remaining healthy. Offering such benefits can allow employees to rewarded for not smoking.
Some gaps with Medtronic’s plans are not all of their plans provide a HSA. For example, HealthPartners and Medica Choice plans do not offer a HSA.Herzlinge, Hurwich, and Bokser (2014) propose the idea that health savings accounts (HSA) are accounts that the employee and employer both contribute money to; this money can be used for qualified health expenses and the funds never expire which allows employees to roll money over year to year. Also, Medtronic has high deductible insurance plans. This could suggest that the company is not fully considering the costs their employees may encounter when having such a plan; therefore, Medtronic should consider offering more flexibility in their high deductible insurance plan. According to de la Torre-Ruiz, Vidal-Salazar, and Cordón-Pozo (2017), offering a greater flexibility in insurance benefits allows employees to select the benefits that better suit their personal needs. This suggests that if Medtronic adjusts their high deductible plans to minimize costs to employees, they might provide employees with the option of choosing a plan that better fits their personal financial circumstances. Not doing so creates a gap of not fully meeting the needs of their employees.
References
Fronstin, P., Employee Benefit Research Institute (EBRI), & Greenwald, L. (2016). Value of workplace benefits: findings from the 2016 health and voluntary workplace benefits survey. Retrieved from https://www.ebri.org/pdf/notespdf/EBRI_Notes_v38no5_WBS.18Apr17.pdf
Herzlinger, R., Hurwich, J., & Bokser, S. (2014). Consumer-Driven Health Care: Medtronic’s Health Insurance Options. Retrieved December 4, 2017 fromhttps://cb.hbsp.harvard.edu/cbmp/product/302006-PDF-ENG
Lesonsky, R. (2017). The no. 1 benefit your employees want. Retrieved from https://smallbiztrends.com/2017/05/benefit-your-employees-want.html
Martocchio, J. J. (2017). Strategic compensation: A human management approach (9th ed.). Hoboken, NJ: Pearson Education, Inc.
-4
Benefits and Compensation Analysis: Strengths and Weaknesses:
- Each plan allows for choosing doctors but out of network doctors were not fully covered.
- A PCA (personal care account) or HRA-contributed to by employers for use “to pay for health care expenses from their chosen provider” (Herzlinger, Hurwich, Bosker, 2014, p.2). Which allows for some of the upfront, out of pocket expenses to be met, as well as the deductible. And supports out of network choice of doctors and hospitals, to a financial end.
- Comprehensive Health Coverage- Three levels of deductibles from which employees could choose depending on health and budget needs (Herzlinger, et. al, 2014).
- Health Tools and Resources-both online and by phone, adding resources to support health and wellness decisions. Allowing employees to research providers and prices for services and talk with Nursing professionals, pharmacists. As well as track their PCA and Comprehensive Health Coverage activity. (Herzlinger, et. al, 2014).
- The plans that pay for all preventative care, which “encourage participants to receive periodic physical exams, immunizations and other services designed to maintain health and to ensure early detection and treatment as necessary” (Herzlinger, et. al, 2014, p.2).
- Definity Plan over the long term was expected to cost less than traditional plan offerings. Allowing Medtronic to remain cost neutral (Herzlinger, et. al, 2014).
- Definity Plan in the second year was approaching an equal distribution between males and females for enrollment. Out of 10,500 employees, 4040 had enrolled after 2 years of coverage (Herzlinger, et. al, 2014).
The weak areas of the current system shared in the case study, Consumer-Driven Health Care: Medtronic’s Health Insurance Options, are:
- The Gatekeeper model, requiring referrals for specialists (Herzlinger et. al, 2014).
- Significant upfront out of pocket expenses for services other than preventative care, like emergency room visits (Herzlinger, et. al, 2014).
- Out of pocket expenses were higher if choosing Doctors or hospitals outside of the network as they were not fully covered (Herzlinger, 2014, p. 8).
- Each plan charged different amounts and differed in the deductible that participants would have to pay before the insurance coverage began (Herzlinger, et. al, 2014).
Reference
Herzlinger, R., Hurwich, J., & Bokser, S. (2014). Consumer-Driven Health Care: Medtronic’s Health Insurance Options. Retrieved December 4, 2017 fromhttps://cb.hbsp.harvard.edu/cbmp/product/302006-PDF-ENG
-3
Benefits and Compensation Analysis: Increased or Stay the Same:
- Increasing the employer contribution to the PCA or HRA- allows for coverage of deductible and out of pocket expenses associated with out of network services or Doctors.
- Increasing the types Health Tools and Resources- adding more value through engagement and health contests. To create ways to support the participants and encourage health, is consistent with Medtronic’s pro employee culture.
- Increasing the network of providers and hospitals to a broad spectrum will offer more choice to participants, meeting more of the health needs of all the participants.
The rewards components that should stay the same and be left alone are:
- Ability to choose in- network doctors or out of network doctors
- PCA/HRA-the balance remaining at the end of the year could be carried over to the next year. The amount credited to a PCA was done in a tax effective manner
- Self-referrals- provided the specialists are within network.
- Provides full payment, after co- pay in most cases
- In network of clinic based providers.
- -2
Benefits and Compensation Analysis: Reduced:
The rewards components that should be reduced are:
- Co- insurance should be reduced as adds to high out of pocket expenses
- Any high out of pocket expenses, that prevents employees from using their healthcare benefits to the fullest extent and purpose. According to SHRM How to Guide, How to Design an Employee Benefits Program,
Some employers choose to have general benefits objectives, whereas others incorporate the objectives in their total compensation philosophy. The benefits objectives are not static and should be evaluated and revised to reflect the current employer strategy and employee needs. Sample objective: To establish and maintain a competitive employeebenefits program based on employees’ needs for paid time off and protection against the
risks of old age, loss of health and loss of life (SHRM, 2017).
References
How to design an employee benefits program. (2017, October 30). SHRM. Retrieved January 2, 2018, from https://www.shrm.org/resourcesandtools/tools-and-samples/how-to-guides/pages/howtodesignanemployeebenefitsprogram.aspx
-3
Benefits and Compensation Analysis: Degree of the Existing Population:
When considering making changes to Medtronic’s current health insurance plans, more full-time employees will be affected by implemented changes than part-time employees. According to Herzlinge, Hurwich, and Bokser (2014), over 9,000 thousand of Medtronic’s employees are full-time, while less than 900 are part-time. This suggests that the overall impact to employees, if changes are implemented, may be that more of Medtronic’s full-time employees will likely be more satisfied with their health care coverage. As advised by Lesonsky (2017), insurance offered by employers is very important to employees, and it promotes higher employee because when employees are happy with their health care benefits they will likely be happy with their job. Therefore, changing the insurance plans at Medtronic will impact all employees, especially their full-time employees, because these employees make up the majority of Medtronic’s staff. Also, Medtronic as a whole will be affected if changes are made to their current plans. The company may have greater benefits expenses. According to the Society for Human Resource Management (2017) handling employee benefits can be expensive for employers. Therefore, Medtronic will likely be affected by changes to their insurance plans.
References
Herzlinger, R., Hurwich, J., & Bokser, S. (2014). Consumer-Driven Health Care: Medtronic’s Health Insurance Options. Retrieved December 4, 2017 fromhttps://cb.hbsp.harvard.edu/cbmp/product/302006-PDF-ENG
Lesonsky, R. (2017). The no. 1 benefit your employees want. Retrieved from https://smallbiztrends.com/2017/05/benefit-your-employees-want.html
Society for Human Resource Management. (2017). How to Design an Employee Benefits Program. Retrieved from https://www.shrm.org/resourcesandtools/tools-and-samples/how-to-guides/pages/howtodesignanemployeebenefitsprogram.aspx
-4
Articulation of Response:
References must be in alphabetical order -2
part3
Revisions: Constraints:
The discussion did not adequately address the topic. This discussion asked for recommendations that would take certain financial, legal and procedural constraints into consideration. I did not see any recommendation provided nor did I see any discussion around the above-mentioned constraints. Remember, a constraint is a limitation or a restriction. You were not clear on how these: financial, procedural, legal limit or restrict the organization benefits/compensation offerings.
When considering a revised benefits and compensation package for Medtronic recommendations for addressing the possible financial, practical and lawful limitations can be made. These recommendations include first, when increasing the employer contribution amount it is understood that financial costs for the company will increase, to combat this it is recommended that Medtronic encourages health care consumerism amongst their employees. According to the Society for Human Resource Management (2017), health care consumerism relates to the exertions made by employers to encourage employees to make healthier personal choices in their daily lives; the employer also provides educational information that aids in increasing employee knowledge of the costs incurred when they use their health care as well as potential incentives for lower health care costs. Moreover, the Society for Human Resource Management (2017) implies that health care consumerism relates to the incentives, health care plan design and effective communication that aid employees in making healthier choices. Therefore, it is recommended that Medtronic consider using methods of consumerism to combat potential financial increases. Also, it is recommended that Medtronic negotiates their benefits contact terms with current merchants. As presented by the Society for Human Resource Management (2017), companies should be more aggressive when discussing their contracts with health care merchants; companies should request a breakdown of services charges and negotiate the individual cost of each service. Taking these steps can promote a greater control of health insurance expenses, according to the Society for Human Resource Management (2017). Hence, it is recommended that Medtronic negotiates the terms of their health care plans benefits to reduce costs.
When considering a revised benefits and compensation package for Medtronic, recommendations for addressing procedural limitations include performing a needs evaluation of employees; this could aid in providing suggestions of what employees should consider when making health insurance selections. The Society for Human Resource Management (2017) suggests that employers should evaluate the needs of employees by using a needs assessment survey; then compare the results to their current benefits to determine which benefits support the needs of their employees. Moreover, it is recommended that Medtronic provides information to aid employees with making selections prior to employees choosing their health care plans. According to Miller (2016), to aid employees in determining which plans to choose, employers should encourage employees to evaluate recent or potential changes to their health and personal relationships prior to making their insurance selections. Following such steps could aid Medtronic in addressing procedural limitations.
Additionally, recommendations for addressing legal limitations include considering the Patient Protection and Affordable Care Act of 2010. As offered by Martocchio (2017), under this law employers are obligated to offer health insurance to their employees; if employers do not offer health insurance to their employees they are breaking the law and must pay a penalty. Furthermore, the Social Security Act of 1935 and the Family and Medical Leave Act of 1993 should be considered. According to Martocchio (2017), the Social Security Act of 1935 recognizes three types of lawfully mandated benefits that include unemployment insurance, retirement income and benefits for dependents as well as medical insurance. While the Family and Medical Leave Act of 1993 mandates that employers annually provide workers with twelve weeks of unpaid leave for emergencies related to family or medical concerns. Consequently, it is reccommeded that Medtronic considers such laws when addressing the concerns of providing health insurance and legally required benefits. Failure to do so could result in increased expenses for the company, due to penalties.
References
Herzlinger, R., Hurwich, J., & Bokser, S. (2014). Consumer-driven health care: Medtronic’s health insurance options. Retrieved December 4, 2017 from https://cb.hbsp.harvard.edu/cbmp/product/302006-PDF-ENG
Martocchio, J. J. (2017). Strategic compensation: A human management approach (9th ed.). Hoboken, NJ: Pearson Education, Inc.
Miller, S. (2016). 10 questions for employees choosing a health plan. Retrieved from https://www.shrm.org/ResourcesAndTools/hr-topics/benefits/Pages/health-plan-questions.aspx
Society for Human Resource Management. (2017). How to Design an Employee Benefits Program. Retrieved fromhttps://www.shrm.org/resourcesandtools/tools-and-samples/how-to-guides/pages/howtodesignanemployeebenefitsprogram.aspx
Revisions: Financial Cost:
I wanted an analysis and discussion that took into consideration the costs associated with other offerings by the company. In addition, I wanted to see at a minimum, the definition of direct and indirect compensation. Direct compensation is, according to the SHRM Toolkit, refers to wages paid by employers to employees in exchange for work. Compensation also includes variable pay in the form of short- and long-term incentives, such as cash bonuses, commissions and company stock awards (SHRM, 2017).
Indirect compensation, according to the SHRM Toolkit is used by employers, to attract, recognize and retain workers. It includes designing and administering benefits such as health, disability and other insurance; paid leave; retirement income and planning; various employee services; and benefits mandated by federal, state or local laws and regulations (SHRM, 2015).
See discussion at end of this section.
Direct compensation is, according to the SHRM Toolkit, refers to wages paid by employers to employees in exchange for work. Compensation also includes variable pay in the form of short- and long-term incentives, such as cash bonuses, commissions and company stock awards (SHRM, 2017).
Indirect compensation, according to the SHRM Toolkit is used by employers, to attract, recognize and retain workers. It includes designing and administering benefits such as health, disability and other insurance; paid leave; retirement income and planning; various employee services; and benefits mandated by federal, state or local laws and regulations (SHRM, 2015).
Implementing salary-based premiums may increase the total costs incurred to Medtronic for an employee whose annual premium expense would be greater than 9.5 percent of their annual family income. In these cases, Medtronic would be responsible for covering 85 percent of the employee’s annual premiums, as indicated below.
Annual Medtronic and Employee Contributions
|
Health Partners |
Medica |
Definity Health – Low Deductible |
Definity Health – Medium Deductible |
Definity Health – High Deductible |
||||||
|
Cost to Employee |
Cost to Medtronic |
Cost to Employee |
Cost to Medtronic |
Cost to Employee |
Cost to Medtronic |
Cost to Employee |
Cost to Medtronic |
Cost to Employee |
Cost to Medtronic |
|
|
Employee Only |
$343.80 |
$1948.20 |
$435.60 |
$2488.80 |
$370.80 |
$2101.20 |
$781.20 |
$4426.80 |
$1080.00 |
$6120.00 |
|
Employee Plus One |
$696.60 |
$3947.40 |
$880.20 |
$4987.80 |
$340.20 |
$1927.80 |
$716.40 |
$4059.60 |
$973.80 |
$5518.20 |
|
Employee Plus Two or More |
$1031.40 |
$5844.60 |
$1366.20 |
$741.80 |
$320.40 |
$1815.60 |
$682.20 |
$3865.80 |
$ 932.40 |
$5283.60 |
Employees whose annual premium expense is less than 9.5 percent of their family income would be subjected to the current annual premium amounts of as presented by Herzlinge, Hurwich, and Bokser (2014), shown below.
Annual Medtronic and Employee Contributions
|
Health Partners |
Medica |
Definity Health – Low Deductible |
Definity Health – Medium Deductible |
Definity Health – High Deductible |
||||||
|
Cost to Employee |
Cost to Medtronic |
Cost to Employee |
Cost to Medtronic |
Cost to Employee |
Cost to Medtronic |
Cost to Employee |
Cost to Medtronic |
Cost to Employee |
Cost to Medtronic |
|
|
Employee Only |
$588.00 |
$1704.00 |
$939.00 |
$1989.00 |
$528.00 |
$1944.00 |
$1000.80 |
$4207.20 |
$1382.40 |
$5817.60 |
|
Employee Plus One |
$1188.00 |
$3456.00 |
$1905.00 |
$3963.00 |
$336.00 |
$1932.00 |
$613.20 |
$4162.80 |
$847.20 |
$5644.80 |
|
Employee Plus Two or More |
$1752.00 |
$5124.00 |
$2913.00 |
$6195.00 |
$137.40 |
$1998.60 |
$288.60 |
$4259.40 |
$398.40 |
$5817.60 |
If Medtronic covers the full monthly premium for all employees the costs incurred would be as shown below.
Annual Medtronic and Employee Contributions
|
Health Partners |
Medica |
Definity Health – Low Deductible |
Definity Health – Medium Deductible |
Definity Health – High Deductible |
||||||
|
Cost to Employee |
Cost to Medtronic |
Cost to Employee |
Cost to Medtronic |
Cost to Employee |
Cost to Medtronic |
Cost to Employee |
Cost to Medtronic |
Cost to Employee |
Cost to Medtronic |
|
|
Employee Only |
$0 |
$2292.00 |
$0 |
$2928.00 |
$0 |
$2472.00 |
$0 |
$5208.00 |
$0 |
$7200.00 |
|
Employee Plus One |
$0 |
$4644.00 |
$0 |
$5868.00 |
$0 |
$2268.00 |
$0 |
$4776.00 |
$0 |
$6492.00 |
|
Employee Plus Two or More |
$0 |
$6876.00 |
$0 |
$9108.00 |
$0 |
$2136.00 |
$0 |
$4548.00 |
$0 |
$6216.00 |
If Medtronic implemented changes where each employee covered their full monthly premium for health insurance, as presented by Herzlinge, Hurwich, and Bokser (2014), costs to the employee would be as follows:
|
Health Partners |
Medica |
Definity Health – Low Deductible |
Definity Health – Medium Deductible |
Definity Health – High Deductible |
||||||
|
Cost to Employee |
Cost to Medtronic |
Cost to Employee |
Cost to Medtronic |
Cost to Employee |
Cost to Medtronic |
Cost to Employee |
Cost to Medtronic |
Cost to Employee |
Cost to Medtronic |
|
|
Employee Only |
$2292.00 |
$0 |
$2928.00 |
$0 |
$2472.00 |
$0 |
$5208.00 |
$0 |
$7200.00 |
$0 |
|
Employee Plus One |
$4644.00 |
$0 |
$5868.00 |
$0 |
$2268.00 |
$0 |
$4776.00 |
$0 |
$6492.00 |
$0 |
|
Employee Plus Two or More |
$6876.00 |
$0 |
$9108.00 |
$0 |
$2136.00 |
$0 |
$4548.00 |
$0 |
$6216.00 |
$0 |
Annual Medtronic and Employee Contributions
References
Introduction to the human resources discipline of employee benefits. (2015, June 27). SHRM. Retrieved January 14, 2018, from https://www.shrm.org/ResourcesAndTools/tools-and-samples/toolkits/pages/employeebenefits.aspx
Managing healthcare costs. (2017, January 11). SHRM. Retrieved January 14, 2018, from https://www.shrm.org/resourcesandtools/tools-and-samples/toolkits/pages/managinghealthcarecosts.aspx
the original assignment
The final project for this course is the creation of a benefits and compensation analysis (with revisions) and a stakeholder presentation.
Professionals in the human resources field are often tasked with overseeing the benefits and compensation functions within any given organization. Human
resource professionals often have to examine specific compensation and benefit elements of a total rewards system and compare them with qualitative and
quantitative data collected internally, to determine how to fairly and appropriately reward employees for their work.
For the summative assessment, imagine you have been tasked with evaluating and revising the current benefits and compensation package of an organization.
You will utilize information from a case study to compare and contrast the organization’s total reward system with external benchmarking data, analyze data for
gaps, and make revisions to the existing compensation and benefit package. The information you are provided will be based on a specific aspect of a benefits and
compensation package (retirement benefits, medical benefits, etc.). You must also create a presentation to stakeholders that explains the proposed changes,
your rationale, and the implications of the changes for the organization.
The project is divided into three milestones, which will be submitted at various points throughout the course to scaffold learning and ensure a quality final
submission. These milestones will be submitted in Modules Three, Five, and Seven. The final project will be submitted in Module Nine.
In this assignment, you will demonstrate your mastery of the following course outcomes:
Analyze qualitative input from stakeholders for prioritizing employee concerns regarding existing organizational total rewards systems
Compare existing internal quantitative data regarding benefits and compensation structures to external benchmarking data for determining key areas of
concern in organizational total rewards systems
Evaluate strengths and weaknesses of organizational benefits and compensation structures for informing the revision of benefits and compensation
systems
Design revised benefits and compensation packages that address key stakeholder concerns and align with established financial, organizational, and legal
constraints
Appropriately communicate proposed changes of organizational benefits and compensations structures to various internal stakeholder populations
Prompt
In your role as a human resources professional, you have been asked to revise aspects of the current benefits and compensation package illustrated in the
Harvard Business Review case study “Consumer-Driven Health Care: Medtronic’s Health Insurance Options” and make revisions to the package to accommodate
issues and concerns. You have also been asked to prepare a presentation to stakeholders regarding your proposed revisions. You will begin with an analysis of
quantitative and qualitative information about the current rewards system. Use this information to identify strengths and weaknesses of the current package and
make recommendations, while addressing stakeholder concerns and previously identified weaknesses. You will communicate these proposed changes in a
presentation to stakeholders of the organization.
Specifically, the following critical elements must be addressed:
I. Benefits and Compensation Analysis: For this part of the assessment, you will analyze given aspects of a benefits and compensation package from the
provided case study. You will analyze qualitative and quantitative data regarding the current system and determine gaps in that system that will inform
your future recommendations and revisions.
A. Analyze the issues or concerns of employees through a review of the qualitative data presented in the case study, for their validity and
importance. Be sure to consider the needs of different demographics of employees within the organization.
B. Determine which issues within the qualitative input data from employees were the most consistent and the most prominent. You may consider
also representing your response visually.
C. Determine the key issues or concerns of employees that should be targeted and addressed, based on the provided qualitative data. Justify your
response. What issues or concerns should be targeted and why? Why should other concerns be made less of a priority? You could consider the
underlying reasons behind the issues voiced by employees.
D. Compare and contrast the provided quantitative data regarding the current benefits and compensation system with external benchmarking
data from organizations within the same industry. Be sure to use the provided table to complete your response. What does the current system
have that other organizations do not? What do other organizations offer that the current system does not? Be sure to justify your response.
E. Determine areas of misalignment, differences, and gaps present in the current benefits and compensation system, based on the external
benchmarking data. What are the key areas of the current system that are misaligned with the industry standard?
F. Based on your analysis of the provided qualitative and quantitative data, determine strengths and weaknesses present in the current benefits
and compensation system. What are the strong suits of the system? What are the weak areas? Be sure to justify your response.
G. Determine rewards components that should be increased or stay the same, and provide your rationale. What in the current package should be
emphasized or left alone?
H. Determine rewards components that should be reduced, and provide your rationale. What in the current package should be addressed?
I. Compare qualitative input data and quantitative analysis with the organization’s employee demographic data to determine the degree of the
existing population that will be affected by the proposed changes. In other words, what is the overall impact of a proposed change?
II. Revisions: In this part of the assessment, you will make recommendations and revisions to the current benefits and compensation package to address
any concerns and gaps previously identified.
A. Make recommendations for accommodating potential financial, procedural, and legal constraints regarding the revised benefits and
compensation package.
B. Make revisions to the current benefits and compensation package that address concerns related to your previous analysis of the quantitative
and qualitative data. In other words, what changes would you make to the current benefits and compensation package in order to address any
concerns you previously identified?
C. Explain the financial cost of proposed changes to both direct and indirect compensation. Be sure to address fully funded organizational changes,
partially funded changes (and by what percentage), and fully employee-funded benefits.
D. Explain the cost of each benefit and compensation element as a cost per employee. You may want to show cost increases or decreases per
benefit item, with a total roll up cost to the employee and the organization.
III. Presentation: In this part of the assessment, you will develop a presentation to stakeholders that describes your recommended changes and provides
both context and rationale for why you believe they should occur. This presentation must be developed in such a way that it is accessible for all
stakeholders (leadership, management, employees, and so on).
A. Provide an overview of the qualitative input data, quantitative benchmarking data, and the gap analysis that was conducted.
B. Provide a rationale for proposed changes and explain how the proposed changes will achieve targeted organizational goals and address
stakeholder concerns.
C. Explain the implications of implementing the new system for the organization and for different employee populations.
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