Bus 434 Wk 3 Assignment: Designing A Compensation Package

Week 3 Assignment: Designing a Compensation PackageName:Institutional affiliationDesigning a Compensation PackageIntroductionA compensation package refers to the sum of the benefits, which includes the base pay and other benefits such as insurance cover, bonuses and allowances. An attractive compensation package attracts employees with the necessary talents to join the organization. On the contrary, a poorly designed compensation package could discourage potential employees. The package must consider factors such as the industry standards, legal factors, the duties of the employee and the working conditions. This document presents a compensation package for the position of a Human Resource Manager.Job descriptionPosition Description As the number of employees in the organization is increasing, the organization is looking for a Human Resources Manager who will ensure that the there is an efficient workforce that can carry out the strategic plan of the organization. As a HR Manager successful candidate will be responsible for developing HR programs and recommending changes to the key leadership (Mader-Clark, 2006). Duties and Responsibilities The first duty of the HR manager is to create and review the work structure by updating job requirements and job descriptions for the other positions