Benefits and Compensation Management - Research Paper Example

Foundations of a Compensation Strategy Foundations of a Compensation Strategy Human Resources Manager Position Job The Human Resources Manager’s job is to plan, expand and apply policy for HR organization and development together with staffing and selection practices. He or she should establish and sustain apposite systems for computing essential features of HR improvement, examine, measure and cover HR matters, opportunities and expansion plan and accomplishment within approved formats and timescales.

He or she should manage and expand direct reporting employees, manage departmental disbursement within approved financial plans, coordinate with other departmental leaders so as to comprehend all essential aspects, and requirements of HR improvement (Muller, 2009). The Human Resources Manager is supposed to sustain knowledge and understanding of latest HR expansion hypothesis and methods, put in to the valuation and expansion of HR policy and presentation in collaboration with the managerial team, make sure actions meet with as well as incorporate with organizational prerequisite for quality administration, health and security, permissible requirement, environmental strategies, appraise and substantiate all documents associated to legal, money statements and allotment, policies (Mathis, 2010).

The Human Resources Manager’s job entails him or her to build up and preserve healthy associations with government and non government organizations, prepare for worker’s performance evaluation; expand tools for evaluation, job valuation and development. The Human Resources Manager’s job is to also arrange and direct instruction of employees consisting of higher-ranking managers, preserve contact with external resources for instruction, oversee staff analysis, industrial relations, employee relations, employee retirement, and termination (Muller, 2009).

Performance Evaluation Our corporation’s performance valuation system affirms that worker performance is fragmented into one of six numeric target classes: sells 400 products and more in a month, sells 300 to 399 products in a month, sells 200 to 299 products in a month, sells 100 to 199 products in a month, sells 100 products and less in a month, and does not make any sells in a month (Mathis, 2010). Those employees that are in the sell 400 products and more in a month category receive a 10% increase in their commission as well as a 5% increase in their salary, those in the sell 300 to 399 products in a month category typically receive a 8% increase in their commission as well as a 4% increase in their salary, those in the sell 200 to 299 products in a month category typically receive a 6% increase in their commission as well as a 3% increase in their salary, those in the sell 100 to 199 products in a month category typically receive a 4% increase in their commission as well as a 2% increase in their salary, those in the sell 100 products and less in a month a 3% increase in their commission as well as a 1% increase in their salary, and those in the do not make any sell in a month category do not get any increases in their commission as well as their salary.

External Analysis The external analysis pointed out that the monthly salary range of a Human Resources Manager is at $63,168- $112,828. The median anticipated remuneration for an archetypal Human Resources Manager is $86,092 in the United States (Muller, 2009). Internal Analysis The internal analysis pointed out that the Human Resources Manager position is parallel to that of an Auditing Manager, and should be paid within the same monthly salary range of $81,378-$146,285. The median anticipated remuneration for an archetypal Human Resources Manager is $108,403 in the United States (Mathis, 2010).

References Mathis, R. (2010). Human Resource Management. McGraw-Hill. Muller, M. (2009). The managers guide to HR: hiring, firing, performance evaluations, documentation, benefits, and everything else you need to know. AMACOM Div American Mgmt Assn.