Posted: August 4th, 2022

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This project have 9  parts, the first are already done , i need to do the 8 part put some bibliografi and what to put in the slide for this part .

Booz Allen Hamilton
Human Resource Plan

[Type the abstract of the document here. The abstract is typically a short summary of the contents of the document. Type the abstract of the document here. The abstract is typically a short summary of the contents of the document.]

Table of Contents
I. Executive Summary 1
II. Company Strategy 1
III. Workforce Strategy 6
IV. Staffing Strategy 10
V. Total Rewards Strategy Error! Bookmark not defined.
VI. Training and Development Strategy 22
VII. Performance Management Strategy 25
VIII. HRIS 26
IX. Appendix A 27
X. References 28
XI. Document Work Log 31

I. Total Rewards Strategy

Compensation is one of many human resource tools that organizations use to manage their employees. For an organization to receive its money’s worth and motivate and retain and keep skilled employees, it needs to ensure that its compensation strategy does is in line with company goals. Not only is it important for the organization to link compensation to its overall goals and strategies, it is important that its total reward strategy or compensation system aligns with its HR strategy. In order for Booz Allen Hamilton to have their total rewards strategy align with management goals, the company will seek the right mix of various items for their total rewards compensation plan (Johnson, 2014).

Booz Allen Hamilton’s total reward strategy for their employees is aligned with the company’s strategic goals through a carefully chosen mix of compensation, benefits and non-financial rewards.

The total rewards strategy will enhance the company’s performance and employee morale with a well thought out and skillfully implemented total rewards program for the employees. The right total rewards strategy can generate desirable business results for Booz Allen Hamilton and these results range from enhanced individual and organizational performance to improved job satisfaction and security, employee loyalty and high morale among employees. The total rewards strategy will ensure that the employees want to stay with the company and remain engaged in their positions.

Strategic Mix

The compensation package a business offers to employees affects the company’s recruitment rate, retention rate and employee satisfaction. Therefore, Booz Allen Hamilton has decided to go with the following for their total rewards, as shown in the table below:

TOTAL REWARDS STRATEGY

DEFINITION

COMPENSATION

· Base Pay

· Merit Pay

· Incentives

· Promotions

· Pay Increases

· Wages and salaries.

· Merit pay increases based on employee performance.

· Bonuses based on employee performance.

· Base pay increases based on performance.

· Base pay increases based on length of service with the company. If not performing or just meeting expectations, but tenured, there will be a standard set amount.

BENEFITS

· Health and Welfare

· PTO

· 401K

· Retirement

· Payment for medical expenses both on and off the job. Wellness and disease management programs.

· Payment for vacation, sick and personal time.

· Matching up to 5% for 401k as well as financial literacy and planning skills and other education necessary to address retirement issues.

· Payment for work no longer performed based on length of employment-severance package. Severance would include one week’s pay for every year worked under 10 years (Pay and Leave).

PERSONAL GROWTH

· Training

· Career Development

· Skill development through on or off the job instruction.

· On the job coaching to develop skills (Heneman, 2014)

Benefits

The benefits that Booz Allen Hamilton will be providing their employees are health and welfare, PTO, 401k and retirement. These are benefits that similar companies have and Booz Allen Hamilton has also chosen to provide these benefits to their employees to remain competitive.

Health and Welfare: Booz Allen Hamilton has provided employees with medical, dental and eye coverage through a variety of plans that best suit the needs for the employee and their dependents if they have any.

PTO: Also known as paid time off will be also be a benefit given to employees. Two weeks of vacation time as well as sick and personal time. This will be given to employees upfront on January 1st and employees accrue those hours monthly at a rate of 6.667 hours a month. There are also company paid holidays such as Thanksgiving, Christmas Eve, Christmas, President’s Day etc.

401K: Booz Allen Hamilton has also decided to give employees the option of a 401k plan where the company will match up to 5% of employee contributions, as well as provide financial literacy programs and other financial education and planning tools for their employees to better manage their finances.

Retirement or Severance: A retirement and severance package will also a benefit depending on how long an employee has been with the company or if there is a layoff. Severance would include one week’s pay for every year worked under 10 years and so forth according to standard severance pay (Pay and Leave).

Alignment to Performance Management

Booz Allen Hamilton conducts regular planning and evaluating of their compensation and performance appraisal systems. Because compensation is visible and important to employees, it is critical to consistently communicate a clear message regarding how pay decisions are made. Overall, a solid pay-for-performance strategy requires that an employee’s pay matches the organization’s message. Booz Allen Hamilton believes that the above, total rewards for employees promote the appreciation of their company’s greatest assets, which are the employees. Employees are a valuable asset and are treated as such. The company realizes that in order to meet the internal and external demands, they must remain competitive with their compensation package. Booz Allen Hamilton realizes the increasingly important role of reward programs and they realize that the total reward strategy must be created and implemented to support their human capital strategy (Gilbert, 2014). The employees of Booz Allen Hamilton must have a buy in of the total rewards strategy in order for it to be an effective tool. The employees must have the perception that their responsibilities, rewards and work conditions are seen as equitable when compared to other employees in a similar position. In order for that to happen, Booz Allen Hamilton will create a merit grid philosophy for employees. In that merit grid philosophy, some of the factors could include skill level, level of effort, amount of responsibilities and working conditions. The company will then have to create a way to measure and track their total rewards strategy that is in place.

Compensation Strategies

Booz Allen Hamilton will also need to make sure that their total rewards are at least equal to or excel the average rates of other companies in their sector. These are the meet the market or lead the market strategies. By selecting meet the market level, which is the most common compensation strategy, Booz Allen Hamilton is on a level of competitiveness that occurs when an organization’s compensation strategy is equal to the labor market for the same position. This is the pay philosophy that makes the most sense for most organizations (Heneman, 2014). By having a base pay strategy that meets the market, the company can add or subtract variable pay and/ or fringe benefits. By selecting this level, they can also balance financial issues and the need to attract and retain employees or minimize loss in the event of a financial downturn (Heneman, 2014). Booz Allen Hamilton has worked hard to ensure that they are able to pay what is necessary to find, keep and motivate a number of qualified employees that they need and creating a compensation structure that starts with competitive base pay is critical and it generally is the first part of negotiations with employees because employees compare their roles and their pay to their counterparts pay in other organizations. Booz Allen Hamilton has also decided that the use of salary surveys is critical in the company’s ability to determine if its total rewards strategy and other types of compensation are comparable to similar roles in other organizations. It is important to ensure that the key responsibilities and goals of the roles being compared are similar; as is the sector the organization is aligned with (Kwon & Hein, 2013).

· Other compensation strategies to be considered that are top trends within similar organizations are the following:

· Total rewards that focus less on monetary compensation and more on career satisfaction and flexibility in scheduling, employee paid tuition or fees towards certificates and other non-financial rewards. Some of these other non-financial awards include, working from home, recognition for doing a job well done, provide an approved day off outside of PTO etc.

· More of a focus on family and work/life balance and will consider and implement family-leave programs with paid-time-off provisions; as such programs can be strong retention and recruiting tools.

· Organizations will continue to increase the use of teams and collaborative work, resulting in performance being defined, measured and rewarded at the group/unit/team and organizational levels as well as at the individual level (Heneman, 2014).

Other incentive plans that Booz Allen Hamilton will implement are a wellness incentive plan, safety incentive plan and recognition incentives for their employees.

Merit Grid Philosophy

In order to make sure that the total rewards strategy is accurate in rewarding those with successful performance, there needs to be a merit grid philosophy in place. This will also be based on individually and not as a group. The merit-based, pay-for-performance matrix serves as a guide for the managers, so that they suggest pay increases that are fair and support Booz Allen Hamilton’s business strategies and goals. The merit matrix connects performance to market rate pay. In accordance with Booz Allen Hamilton’s guidelines, supervisors will recommend whether an employee should receive an increase based on an annual performance review and also the actual amount of increase appropriate for the performance results. In order for the supervisor to make a decision on the award or if to reward, in order to control the fairness of the process, the grid shown below will be put in place.

The following factors are the basis for awarding merit pay to employees:

1. The performance as reported in the annual performance review.

2. The appropriate pay level within the range considering the performance and how it compares to others in that range.

3. Pay increase funds available (Kwon & Hein, 2013).

Below are two tables that show average wages as well as a merit grid matrix. The first shows the range of pay for consultants in the

United States

and

Virginia

, where Booz Allen Hamilton’s headquarters are stationed at. Based on the information in the table, Virginia has a higher rate of annual and hourly income than the national median. Therefore, the average median wages between the two are the following:

· For annual salary $84,900 per year.

· For hourly salary, $40.81 per hour.

The second is a merit based performance matrix that the company will use and this matrix will be a part of the total rewards strategy.

Hourly

Yearly

Location

Pay
Period

2012

10%

25%

Median

75%

90%

United States

Hourly

$21.33

$28.18

$37.79

$50.43

$68.55

Yearly

$44,400

$58,600

$78,600

$104,900

$142,600

Virginia

$26.07

$33.65

$43.83

$56.41

$72.15

$54,200

$70,000

$91,200

$117,300

$150,100

(Onet, 2014)

(How to use an Employee Performance Matrix, 2010)

A merit based performance matrix is the best pay model to use for a pay-for-performance base pay system for the following reasons:

· Manages an organization’s payroll wisely while rewarding high-performing employees.

· Allows budgets to fluctuate to reflect the organization’s financial status.

· Perceived as more fair because employees usually support pay systems that reward those that deliver results.

· Assist with employee retention by retaining high performing employees and motivating lower performing employees to step up their performance

II. References

3-test behavioral assessment – completed example. (n.d.). Retrieved from

http://www.businessballs.com/threetestbehaviourassessmentexample

Booz Allen Hamilton: A Strategy and Technology Consulting Firm. (n.d.). Booz Allen Hamilton: A Strategy and Technology Consulting Firm. Retrieved March 7, 2014, from http://www.boozallen.com

Boxall, P. F., & Purcell, J. (2003). Strategy and human resource management. Houndmills, Basingstoke, Hampshire: Palgrave Macmillan.

Career Info Net (2014, Mar 21). Retrieved from Onet: http://www.careerinfonet.org/occ_rep.asp?optstatus=011000000&soccode=131111&id=1&nodeid=2&stfips=51&search=Go

Eastman, Lorrina J. (1995) Succession Planning: An Annotated Bibliography and Summary of Commonly Reported Organizational Practices. Greensboro, North Carolina: Center for Creative Leadership

Gilbert, K. (2014, March 23). Retrieved from CEO Forum: http://www.ceoforum.com.au/article-detail.cfm?cid=6274&t=/Ken-Gilbert-and-Sally-Cornish/Aligning-your-total-rewards-strategy-with-your-business-goals

Grundy, T., & Brown, L. (2003). Value-based human resource strategy developing your consultancy role. Amsterdam: Butterworth-Heinemann.

Heneman, R. L. (2014, March 21). Implementing Total Rewards Strategy. Retrieved from SHRM: www.shrm.org/hrdisciplines/benefits/documents/07rewardsstratreport ‎

How to use an Employee Performance Matrix. (2010, April 22). Retrieved from Payscale: http://www.payscale.com/compensation-today/2010/04/employee-performance-matrix

Huselid, M.; Becker, B.; Beatty, R. (2005). The Workforce Scorecard: Managing Human

Capital to Execute Strategy. Boston, Massachusetts: Harvard Business Review Press.

Johnson, R. (2014, March 22). Importance of Compensation in the Workplace. Retrieved from Small Business: http://smallbusiness.chron.com/importance-compensation-workplace-38470.html

Kyriakidou, O. (n.d.). Recruitment and selection. Retrieved from http://www.academia.edu/880488/Recruitment_Selection_and_Retention

Kwon, J., & Hein, P. (2013). Employee Benefits in a Total Rewards Framework. Benefits Quarterly, 32-38.

MBA Skool. (n.d.). MBA Skool: 3C’s Model Ohmae. Retrieved March 8, 2014, from http://www.mbaskool.com/business-concepts/marketing-and-strategy-terms/1565-3cs-model-ohmae.html

Novinson, E. (n.d.) Differentiated Workforce Strategy. In Chron. Retrieved on March 15, 2014 from http://smallbusiness.chron.com/differentiated-workforce-strategy-12187.html

Psychometric Success. (n.d.) Mechanical Aptitude Test. Retrieved from http://www.psychometric-success.com/faq/faq-free-mechanical-aptitude-test.htm#sthash.Xp20buhd.dpuf

Recruiting & staffing software. (n.d.). Retrieved from http://www.pcrecruiter.net/recruiting-software/?slide05

Shamis, B. (n.d.). Employee recruiting sources. Retrieved from http://selectingwinners.com/employee-recruiting/employee-recruiting-sources

Simon, J. (n.d.). Hr methods of evaluation during a hiring decision. Retrieved from

http://yourbusiness.azcentral.com/hr-methods-

-evaluation-during-hiring-decision-16282.html

The successful executive interview: 4 key steps. (2007, March 11). Retrieved from http://www.hr.com/SITEFORUM?&t=/Default/gateway&i=1116423256281&application=story&active=no&ParentID=1116442772712&StoryID=1172957594481&xref=https://www.google.com

Types of employment tests . (n.d.). Retrieved from

http://www.siop.org/workplace/employment testing/testtypes.aspx

Ulrich, D.; Allen, J.; Brockbank, W.; Younger, J.; Nyman, M. (2009). HR Transformation: Building Human Resources from the Outside In. Provo, Utah: The RBL Group.

United States Postal Service. (n.d.) Training and Development. Retrieved on March 24, 2014 from https://about.usps.com/manuals/elm/html/elmc7_001.htm

Wonderlic sample questions for cognitive ability test. (n.d.).

Retrieved from http://www.testprep-online.com/wonderlic_sample_questions.aspx

XpertHR. (n.d.) How To Conduct A Training Needs Analysis. Retrieved on March 24, 2014 from http://www.xperthr.com/how-to/how-to-conduct-a-training-needs-analysis/6716/

III. Document Work Log

To assist in assessing the contributions made by the individual team members, the team must complete the table below:

Section

Team Member – Primary

Team Member – Secondary

I. Executive Summary

I.1. xxx

I.1.1.

I.1.2.

I.1.3.

I.2.

I.3.

I.4.

II. Company Strategy

II.1. Discourse

III. Workforce Strategy

III.1.

III.1.1.

III.1.2.

III.2.

III.3.

IV. Staffing Strategy

V. Total Rewards Strategy

VI. Training and Development Strategy

VII. Performance Management Strategy

VIII. HR Information Systems

Page 14 of 15

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