HRM531 Week 5 Individual Assignment Career Development Plan IV

HRM 531 Week 5 Individual Assignment: Career Development Plan IV—CompensationBecause InterClean is embarking on a new strategic direction, upper management has asked you to suggest a new compensation plan specifically for your team. Propose your ideas and rationale to the human resource department manager for approval.Resources: The Management Behavior, Career Development Plan Part I—Job Analysis and Selection, Career Development Plan Part II—Development of a Training and Mentoring Program, and Career Development Plan III—Performance and Career Management assignmentsReview the Management Behavior assignment, completed Week One; the Career Development Plan Part I—Job Analysis and Selection assignment, completed Week Two; the Career Development Plan Part II—Development of a Training and Mentoring Program assignment, completed Week Three; and the Career Development Plan III—Performance and Career Management, completed Week Four.Write a 700- to 1,050 word proposal that includes the following information:Describe a new compensation plan for your employment team.Explain why your pay system will work.Describe three components of a total rewards package that would motivate employees to reach peak performance.Describe your compensation plan’s benefits to the individual as well as to the company.