Human Resources Pay Package
Employee Compensation Plan
Target Job: Registered Nurse (RN) in a Hospital
Hillcrest Hospital is a 496 bed hospital located in Mayfield Heights, a Cleveland Ohio Suburb. Hillcrest is ranked in the nation's top 100 in cardiac care. It is part of the Cleveland Clinic system. The mission of the hospital is to provide nationally ranked healthcare to the surrounding community. It holds clinical excellence, safety, ethics, integrity, individual responsibility, respect for diversity and caring for others as key tenets (Hillcrest Hospital, 2012a). Its vision is to service as an example of state-of-the-art medical facility in every department that delivers consistent high quality service to Northeast Ohio (Hillcrest Hospital, 2012b). The Cleveland Clinic system is one of the best renowned systems in the nations in a number of specialties in which they operate.
Hillcrest Hospital strives to put their patients first and looks for enthusiasm in employees. They have high expectations from their employees and strive to hire those that are passionate about serving the needs of their patients. In an attempt to attract the best in the industry, Cleveland Clinic offers an excellent benefits package. They offer excellent health, dental, and vision plans. They also offer paid time off, tuition programs, and top rated pension plans (Hillcrest Hospital, 2012c).
The target job chosen will be that of an RN. Many types of RNs exist and they can specialize in an almost endless number of specialties within their general job category. Although several job characteristics are common to many RN jobs, many specialties exist within the general category of RN. The target job will be that of a general RN. The two anchor jobs will be that of an Ambulatory Care RN and that of an Oncology RN. These job categories were chosen due to the anticipated job growth in the next decade and beyond. Nursing and the healthcare industry will form an increasingly important part of the economy. Demand for nurses will grow as the population ages.
Part II: Job Description and Specification
A job analysis was conducted for the RN target job. The analysis involved general floor nurses, rather than those that operated in a specialty capacity. The analysis was conducted through a review of relevant literature including information from the U.S. Department of Labor, and existing job descriptions for the RN position from Hillcrest. This was compiled with information from other hospitals. In addition to these methods, interviews were conducted with...
Employee Contributions 30/05/2015 Two methods an HR professional could use to determine incentive pay Legally mandated benefits that the company must currently offer to its employees Additional benefits that should be considered for its employees Efficiency of common techniques for communicating compensation plans to employees. Ethical risks of incentive pay and recommendations to mitigate the risks. Two methods an HR professional could use to determine incentive pay There are a number of methods that are generally
Compensation Plan Brief Overview of Costco's Compensation System Costco has a unique compensation system within its industry. The company competes as a cost leader, where it features low prices as a means of winning business. Cost leaders typically try to have rock bottom costs throughout their operations, from the supply chain to labor and everywhere in between. These competitors will use their bargaining power to get the cheapest labor possible, bargaining down
managerial decisions: Structuring compensation plans Economics / Chapter 14 Firms attempt to create attractive compensation plans in order to retain as well as motivate qualified employees. These compensation plans will vary among firms due to factors such as the nature of the product, competition, and location. In this particular case, Kaufmann's is a large chain department store which carries a broad range of products with a target of middle income consumers.
Effective Compensation PlansComponents of an Effective Compensation PlanThe various components of an effective compensation plan include more than just the base salary. For instance, the Base Salary is the fixed amount of money that an employee receives. This forms the crux of an employee's compensation, and should be in line with the industry standards and appropriate for the employee's role and responsibilities. However, there is more to compensation than the
Performance Management Process and the CEO Critique and evaluate considerations that are traditionally used to determine CEO compensation Many reward compensations adopted by the CEOs of this era contain five primary components: limited stock grants, limited option grants, payouts for incentive plans, annual bonuses, and salary. While the amounts of bonuses, compensation and perquisites found in not-for-profit sectors may pale in comparison to those in the for-profit world, they generate combined reactions.
Compensation Practices at McDonald's McDonald's McDonald's is an American multinational fast food chain. It was established in 1940 by Richard and Maurice McDonald as a small BBQ restaurant. The current McDonald's started growing globally when a business man Ray Kroc purchased this entire fast food chain from the owners and began franchising it to private investors in the local and international markets. McDonald's is headquartered in Oak Brook, United States and currently
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now