HR Pay and Benefits

Organization: Bank

Part A. 600 words (Separate Word Document)
1. 300 words with 1 reference
What is the effect of a compensation package (benefits, salary, nonfinancial) on employee motivation and satisfaction? Provide example.
2. 300 words with 1 reference
What are legally required benefits and why are they required by law? Can any of these benefits be waived? Provide an example. Provide one additional benefit that should be made into a legally required benefit. 

Part B.  1,500 words with 2+ reference (Separate Word Document)
Employees are the biggest asset and contribute to the culture and overall performance of the organization. The final part of this project requires you to determine how to leverage on the human capital within your organization. 
Develop a final written proposal, discussing performance indicators, rewards and incentives, and a plan for motivating employees. Your proposal must include the following:
Organization: Bank
Employee: Bank Managers

1. An evaluation of the current employee status. Describe tasks and performance indicators that contribute to the overall performance on the job.
2. Develop strategies to encourage employees. How will you reward them for their performance and support them during difficulty?
3. Describe strategies to leverage on employee assets. How will you identify their strengths and use them to better the performance and skills of individual employees?
4. Describe a vision for the overall culture you aspire to develop in your organization.
5. How will you integrate rewards and incentives to remain competitive in your market and appeal to your employees?

Prepare this assignment according to the guidelines found in the APA Style Guide

References:
Read “Creating a Smart Compensation Package,” by Massad, located on the Entrepreneur website.
URL:http://www.entrepreneur.com/article/77934 
 
Read “5 Simple Steps to Developing a Competitive Pay Practice,” located on the HR Morning website.
URL:http://www.hrmorning.com/5-simple-steps-to-developing-a-competitive-pay-practice/

 
Read “Basic Strategic Pay Policies,” by Joyner, located on the Houston Chronicle website.
URL:http://smallbusiness.chron.com/basic-strategic-pay-policies-35634.html