Imagine that you have been asked to redesign the compensation plan for your organization.
Your goals are reduced turnover, increased patient satisfaction, and increased employee satisfaction/engagement. Your purpose is to develop a thorough compensation plan for your health care organization.
• Summarize the five key elements that must be considered as you develop the compensation plan.
• Detail the revised compensation plan -use both Direct and Indirect Forms of Compensation to develop your overall strategy. Use the materials presented in the textbook and outside sources to design a new compensation plan. In a 2-3 page document, outline your new plan in APA format. A minimum of three references, plus the textbook are required.
Requirements
Paper defines and discusses the strategic role of human resources in compensation design for a health care organization.
Identifies the major challenges in compensation at all levels within a health care organization.
Paper identifies the two general types of compensation and the components of each