customary benefits organizations provide their employees in those countries. In your discussion, compare these countries with what organizations in the United States provide employees.
Final Research Project. Your organization is going to be expanding globally. Select two (2) countries of your choice. You will conduct research in which you
1. Identify and discuss, for each country, the customary benefits organizations provide their employees in those countries.
2. In your discussion, compare these countries with what organizations in the United States provide employees.
3. Topics to include in your comparison will include, but not limited to, health insurance benefits, wages, and paid time off. When sharing and comparing the countries, make sure you include information as to why. For example, if the income tax rate is extremely high, organizations might tend to offer X benefit.
4. Next, you want identify what these countries might do better and what might US organization do better.
5. Finally, make a recommendation as to 1) which country your organization should consider entering and 2) what benefits and wage practices would you recommend and would these benefits be the same as to what you offer employees in the United States.
Please keep in mind that what you provide in your paper must support your recommendations.
For example, in France, if you take public transportation to and from work, the company must pay 50% of their monthly transportation pass. This is something that might work for your organization here in the United States, especially in larger cities that encourage using mass transit, but you need to make sure you explain why if you did not already share this in the body of your paper.
Prepare your research project this week as if you are preparing to present your findings to a HRM Benefits Counselor.
Please support your ideas, arguments, and opinions with independent research, include at least five (5) supporting references or sources (NOT Wikipedia, unknown, or anonymous sources), format your work in proper APA format, include an abstract, cover page, a Reference section as required, and a minimum of 6 full pages of double spaced written content. Be sure to cite all listed references properly in text in accordance with the APA 7 manual.
This course establishes a foundation for the art of compensation and benefit practices. Students will examine the context of compensation and benefit practices, the criteria used to compensate employees, compensation system design issues, employee benefits, and contemporary challenges that compensation and benefits professionals will face given the current economic times.
Course Scope: The course is designed to provide the student with an in depth understanding and practical ability to implement and explain compensation and benefits to management and employees of various organizations.
After successfully completing this course, you will be able to:
L01: Define the concept of total rewards in relation to employee compensation and benefits. L02: Evaluate the economic rationale for employers to offer a mix of cash and benefits in a compensation package
L03: Explain the legal and regulatory influences on domestic and global employee compensation and benefits practices
L04: Compare methods in achieving internally consistent and externally competitive pay systems L05: Determine the factors to consider when deciding employee benefits.
L06: Describe employer-sponsored insurance programs, specifically group medical, disability, and life insurance programs and the various options available to both employers and employees. L07: Define paid time-off programs, and other forms of employee leave programs. L08: Identify and evaluate current trends and special topics in compensation and benefits.
Have you ever heard of the term “total rewards?” It’s a buzzword in the world of employee compensation and benefits, but what does it actually mean? In short, total rewards refers to the combination of cash pay and benefits that an employer offers to its employees. Let’s take a closer look at both components.
Cash pay, also known as base pay or salary, is the fixed amount of money that an employee receives for their work. Benefits, on the other hand, are non-cash compensation that can include things like health insurance, retirement savings plans, and paid time off. While cash pay is typically a larger portion of an employee’s total compensation package, benefits can often be worth just as much – or even more! – over the course of a year.
So why do employers offer both cash pay and benefits? The answer has to do with attracting and retaining employees. In order to attract top talent, employers need to offer competitive compensation packages that include both cash pay and benefits. And once they’ve hired great employees, they need to keep them happy and engaged with a total rewards package that meets their needs.