For this assignment, assume you are a compensation analyst in a large financial services company. You have been in your role for almost a year. At your weekly one-on-one with your boss, she tells you that the human resources representatives at the company are fielding a number of questions from employees and applicants about compensation. The human resource representatives’ knowledge of compensation is not deep. She asks that you prepare and deliver a 10- to 15-minute PowerPoint presentation (10–15 slides) at an upcoming departmental meeting that provides basic information about what is going on in the compensation field today. Specifically she wants you to address compensation strategies that companies employ, note three of their best compensation practices, and examine three compensation challenges today’s companies are facing. Develop and deliver a 10–15 minute audio PowerPoint presentation (10 to 15 slides) in which you:
Analyze the compensation strategies companies use to attract and retain talent.
Determine three best compensation practices used by companies.
Be sure to provide your rationale for selecting these best practices as opposed to others.
Examine three compensation-related challenges companies face.
Be sure to provide your rationale for selecting these compensation challenges as opposed to others.
Explain what discretionary benefits are and how companies use them to benefit the company and its stakeholders.
Examine how laws, labor unions, and market factors impact companies’ compensation strategies and practices.
Deliver a succinct, engaging, and informative presentation on compensation strategies, best practices, and challenges.