Planning Document Revamping the compensation and benefits package for employees

Revamping the compensation and benefits package for employees Name: Course title: Instructor: Institution: Date Due:  As a human resource manager, I will initiate programs aimed at performance evaluations for all the workers at the company. This is an attempt of measuring the efficiency of the workers in terms of their job performances and be able to communicate these appraisals to them. This evaluation process is deemed to make these employees become motivated in terms of productivity, efficiently and correct inappropriate behaviors. I hope that the tool of performance appraisals will be very helpful in making management decisions with regard to demotions, discharges, promotions and pay rises. Performance appraisals help to determine employees who are productive, and therefore, deserve promotions, pay rises, and or incentives to encourage them in this endeavor. The compensation program for hardworking employees will entail pay rises and other benefits. On the other hand, I will endeavor to initiate programs to offer the workers other benefits alongside their normal earnings. These benefits will include incentives, discounts and health insurance. This scheme will not only be beneficial to the employees but also to this organization. It is well acknowledged that compensation programs if well sustained will make the workforce be loyal to the organization. It will help to retain competent and experienced employees. This practice will also reduce the incidences whereby employees look for jobs elsewhere because of low pay. As a new human resource manager, the best performing employees are rewarded in order to go on with the momentum of their productivity. I will ensure that workers who meet the targets or exceed the targets set by the company are compensated with rewards such as bonuses, pay increment, and other financial rewards. These endeavors will make the employees feel motivated and be responsible in matters related to the job. This will in turn help the organization achieve its goals. As the new human resource manager, I would initiate a plan to refurbish the compensation and benefits package that is prevalent in this company. I would firstly establish what my team members require or if they are contented with my ideas before executing the plan. This is to ensure that there is no miscommunication occurring during the implementation process. The plan so availed will include all forms of compensation that is available such as the bonuses, salary, merit, overtime, wages, paid off times, increments and other profit sharing plan. I would also design a policy to determine such issues as compensation time, overtime, and number of hours worked and paid over times. These include personal days, sick leave, and or vacations). Another thing I would keep a close check on is that salary grades to be based on the job description, job title, and education. These aspects will assist in ascertaining the best payment or amount of salary to pay each employee.  In essence, I will check the following elements before implementing this plan: whether the organization would be able to afford this planned employee benefits, and those that would be effective in motivating and retaining employees. Communication plan for Revamping the Benefits and Compensation Package Kloppenborg, (2012) explains that a communication plan describes the communication requirements and the expectations of the project. It also explains how and in what manner the information will be communicated, where and when it will be done and whose responsibilities in presenting such information. Blattner (2011), states that offering a divergent compensation and benefits package for your employees is a tool for attracting and retaining the top talent. In addition, employees who are motivated get job satisfaction and are happy to be on board. I will endeavor to give individualized attention to each employee in terms of their suggestions or comments so as to ascertain their efficiency and best compensation approaches. I will also make sure that I use the right software for this purpose so as to achieve the best results. After revamping the compensation and benefits in meeting the divergent needs of employees, I would also communicate this plan to the workers so that they become fully aware about their compensation and benefits. In organizations that I had worked before, I had realized that many employees are not aware of what their work benefits contained. Blattner, (2011) observes that, if employees are aware on their compensation, and benefits package, they may not look for “greener pastures elsewhere on other organizations offering higher or salaries. Workers and even recruits need to understand their role and productivity to the organization. Awareness of this factor enables efficient communication between the workers and the management staff. In addition, it gives them knowledge on their true benefits and compensations. Encouraging the workers to communicate their ideas, and give feedback with regard to the kind of compensation that are deemed suitable to them gives the HRM an edge in management issues. In addition, it is regarded as one of the important aspects in employee retention. In acquiring all this virtual information, I will employ total compensation statement software. This tool assists a lot in creating reports for employee compensatio...