Crafting a Compensation and Benefits Plan

Herzberg’s Two-Factor Theory

Herzberg’s two-factor theory speaks to issues relevant in both employee compensation and benefits as it discusses why people choose a workplace, as well as what keeps employees satisfied and committed to their work.  For more information on Herzberg’s two-factor theory, see the Frederick Herzberg motivational theory (Links to an external site.).

Imagine that you are an HR manager in a contemporary firm and answer the following:

• Who are you trying to recruit to work for you (i.e., your audience)?
• What sort of compensation and benefits package would you ensure is in place to recruit the best candidates for the position?

Keeping Employees Motivated

If you have taken the time to review Herzberg’s work, you may have learned that people accept a job and stay on the job for different motivational reasons.  Job satisfaction is achieved through what Herzberg would categorize as motivational factors (personal growth; responsibility; the work itself; opportunities for achievement, advancement, recognition; and/or to make a positive difference) rather than hygiene factors (status, salary, job security, types of supervision, etc.).

Using at least three comparison web examples from the industry you used in your “Herzberg’s Two-Factor Theory” discussion post this week, delineate a creative employee benefits plan designed to keep your best employees satisfied and motivated.  Remember to include all of the links as well as references from the course text and other sources to support your rationale.

Crafting a Compensation and Benefits Plan

Now that you have considered how to recruit and retain the employees you want in your organization, create a compensation and benefits package using this business proposal format  download. The package must be consistent with the objectives of job satisfaction for the valuable employees in an organization of your design.

Include the following:

• Salaries and benefits packages of comparable organizations in the same industry.
• What employees working in the 21st century consider to be benefits (see this week’s recommended readings for a start).
• What helps to keep employees engaged in their work (see State of the American workplace: Employee engagement for U.S. business leaders (Links to an external site.) and Surprising, Disturbing Facts from the Mother of All Employee Engagement Surveys (Links to an external site.) for some ideas).

Please review the Word 2010 create and edit tables (Links to an external site.) video. Closed captioning and transcript of the video is provided in the tool bar of the video player

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