Bus409

In: Business and Management

Submitted By MsLucy2000
Words 1012
Pages 5
Strayer University
BUS 409: Compensation Management
Assignment #2- Evaluate Compensation Plans of Company

Abstract
In evaluating Booz Allen’s compensation plans, it became obvious that I must first understand the nature and vision of the company in order to have a clear and realistic critique of the company’s pay plans. Internal and external analysis of the characteristics of the company and the things that make it unique among competitors and the strategic business plan objective were taken into consideration. A closer at the company’s history, current culture, organizational structure and practices, strategic hiring practices, promotions and rewards and the regulatory environment in which the company operates were all taken into consideration.

1. Evaluate the existing compensation plan to determine if it is the most appropriate for your company.
Booz Allen Company Booz takes proactive steps in creating conditions that offers its employee the ability to succeed and achieve their career goals and family balance. The company operates on the “Total Rewards Program” which main purpose is to provide “not only competitive compensation, retirement benefits, health benefits, and work-life and wellness programs, but also flexible work arrangements, leave programs, career growth opportunities, and much more” (Booz Allen Careers, 2012)
The company is $5billion a year service and technology business with varying range of clients from the Federal government and private commercial entities within the United States and several nations around the globe. Their compensation package reflects the company’s strategic need to attracts, motivates, and retains the best people in the industry with highly competitive compensation and annual merit increase opportunities. 2. Determine the most beneficial ratio of internally consistent and market consistent compensations…...

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