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Unit I Journal

The pay model policies play a crucial role in an organization’s pay strategy. The second step of the total compensation strategy identifies with the objectives, alignment, competitiveness, contributions, and management in developing a successful strategy. What are your thoughts on your current or past compensation pay grades, levels, and/or categories, and how you are awarded? What would you change? Please explain.

Your journal entry must be at least 200 words in length. No references or citations are necessary.

Unit I PowerPoint Presentation

Compensation: Direct and Indirect = Total Compensation (Research)

Per the textbook, compensation can come in the form of financial returns, tangible services, and benefits. The two types of compensation are direct and indirect. Direct consists of pay for work performed. Indirect consists of the perks and benefits associated with the position/employment.

Imagine that you are a human resources (HR) manager, and it is your responsibility to identify data to help strategize, benchmark, and develop proper pay compensation for all positions within the organization. There are tons of software, vendors, and/or other services available to help with developing the pay grades, levels, and/or categories; however, the following website provides data and insight into the total compensation package: www.salary.com . You decide to use this website to help you develop your pay model and total compensation strategy.

For this assignment, you will create an eight- to ten-slide PowerPoint presentation. You will first choose a job title and a location to present the www.salary.com findings/results. Imagine that you are presenting to your company leaders, and ensure that you identify the following components:

· core compensation (direct compensation),

· benefits (indirect compensation), and

· benchmark benefits with the industry average.

Below are the steps to access the material.

1. Go to www.salary.com .

2. Hover over Personal (located at the top of the screen).

3. Click Salaries (from the drop-down menu).

4. Enter job title and location.

5. Click Get My Salary Estimate.

6. Select one job title of your choice.

7. Click Skip This Advertisement.

8. Review the Salary and Benefits, which can be accessed using the navigation panel on the left. (Use this information to create your presentation.)

9. Once you select Benefits (located to the left of the screen), click the Benefits Calculator tab (located at the top of the page).

10. From the Industry drop-down list, select the appropriate industry.

11. Enter the Base Salary.

12. Enter any Bonuses.

13. Click Submit.

14. Once the results are provided, review the Define Employer Contributions tab. The Annual Value of Benefits portion lists the indirect benefits. Enter data for the following fields: 401k, disability, healthcare, pension, and time off (enter as days; on average, most organizations offer 21 days).

15. Click Submit.

16. Review the results within the Compare Benefits to Industry tab.

As you create the content slides for your presentation, be sure to use the speaker notes function to explain the content in detail for each of the slides.

Note: Keep the 6x6 PowerPoint rule in mind (i.e., slides should only include six to seven lines of content with no more than six to seven words per line). Any illustrations should relate to the content being discussed. Be creative!

Include a title slide and a references slide in your presentation; however, please note that these slides do not count toward meeting the total slide count requirement.

Click here to access a tutorial on PowerPoint presentation best practices.