human resource management: ​Benefits/Bonus Case

Benefits/Bonus Case

Given the current health crisis, KGW’s total rewards plan will include the following:

• Wage and salary freeze for the next two years
• Continuation of all current insurance coverage and 401K contributions
• Strategic changes to the current benefits package
• Modification of the current bonus/incentive plan; goal: improve perceptions of procedural justice and enhance engagement

You are the TRC for KGW. Please complete the following steps of this project.

• Please provide a review of the current expenditures for the health insurance plans
• Please provide a snapshot of the current health insurance utilization and the cost of each plan to KGW
• Please specify the additional benefits you will recommend.These recommendations should be strategically chosen and based on an analysis of KGW’s employee demographics as well as projected needs as a result of the current crisis.
• Recommendations for improving the bonus/incentive structure
  • Specify the total amount paid out in bonuses last year
  • Analyze the current structure
    • According to salary grade* and overall performance rating/amount/ethnicity/gender/age
    • Is the current bonus structure fair?Why/Why not?
    • Recommend modifications to the bonus structure and specify the following features:
      • performance-based?
      • group, individual or both?
      • explain and support your decisions with information from the assigned articles identify the expected outcomes – positive and negative, specify your suggestions for managing the likely reactions to these changes to ensure that the plan is successfully implemented, and describe how the new plan will achieve the goals
      • specify the cost of this plan and compare it to the cost of last year’s bonus plan.

*remember to consider salary grades 18, 19, and 20 as one single combined grade; keep grade 21 (VPs), do not include grade 22 (CEO).

Assume all dates on the database are current.

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Some resources:

com/employee-benefits” class=”external” target=”_blank” rel=”noreferrer noopener”>https://library.namely.com/employee-benefits (Links to an external site.)

com/guides/2010/04/offering-competitive-employee-benefits.html” class=”external” target=”_blank” rel=”noreferrer noopener”>https://www.inc.com/guides/2010/04/offering-competitive-employee-benefits.html (Links to an external site.)

https://www.bayhealth.org/benefits

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The attached pps from class lecture if you need them