Compensation Plan

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There are advantages and disadvantages to having a benefits package that is fixed versus having one in which the employee can select the desired benefits within an approved dollar amount. An umbrella program such as this is referred to as a “flexible bundle.” For example, a young employee may want more vacation days but not wish to have life insurance. A flexible bundle allows for this. In this assignment, you will analyze compensation strategies and structures to ensure success and motivation.

For this assignment, you will propose a compensation plan for the selected foreign country India

In your compensation plan,

  • Explain the rewards and type of benefits package to be supplied for your foreign country’s employees.
  • Construct a total rewards model for hedging diversity as a resource for organizational competitiveness.
  • Assess whether a fixed benefits package or a flexible bundle (in which the employee selects the benefits desired) would best fit these employees.
  • Discuss the benefits of your plan and your decisions.
  • Explain whether the compensation will consist of hourly, salary, or contingent base selection.
  • Explain how the elements of your compensation structure compare to the competition in your selected foreign country.
    • Consider such tools as benchmarking and positioning of the competition.