Compensation or Benefit Package Strategy at BNP Paribas
1. Identify organization to research. It could be an organization you are familiar with either personally or through the newspapers, magazines, or other book/internet sources.
2. Detail the compensation and/or benefit challenge at the organization. It is recommended that you concentrate on the principle compensation and/or benefit challenge within a single organization, rather than a number of less important issues. Be careful to avoid selecting a topic that is too broad. At the same time, the challenge facing the organization should be broad enough to provide for multiple strategies to help solve the problem.
3. Discuss the compensation and/or benefits strategies other organizations have utilized related to your challenge, along with a review of their success and failure. As an example, if you are interested in an Employee Assistance Program and why usage is less than expected, detail the strategies other organizations have followed to improve participation and see a return on their investment. Information regarding other organizations should be gathered through a research process and consist of academic quality materials rather than word of mouth information.
4. Recommend the strategy you propose the organization should follow to address its compensation and/or benefit challenge. Explain why you have selected this strategy.
5. Discuss any impediments to this strategy, including any contingency plans that should be considered.
6. Finally, specifically detail how the strategy you propose would address the organization's challenge (as detailed in #2 above) and its impact on both the organization and the employee. Include specific items that should be included in the action plan.
The question belongs to Human Resource Management and it is about detailing the compensation or benefit package in an organization. An example of BNP Paribas has been used here. With a large employee base, BNP Paribas uses a compensation consulting firm to calculate the compensation for each employee belonging to different processes. The solution discusses these in detail.
Total Word Count 1644
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