Compensation Packages, health and medicine homework help

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Career development is the path taken by an employee, with support and encouragement from management and with the help of tools and resources provided by the healthcare organization, to build a lifelong career and achieve long-term work-life satisfaction. Succession planning is critical to any organization’s future success and, as such, must be integrated with internal HR practices and clearly linked to business strategy.

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In this assignment, you will review compensation packages in healthcare organizations.

Tasks:

Select one healthcare organization of interest to you and research the compensation package in the organization.

On the basis of your research and findings, write a 6- to 8-page paper addressing the following:

  • Do a cost-benefit analysis of the selected healthcare organization. Explain your analysis of the cost-benefit ratio and how it helps an organization.
  • Explain the impact of the cost-benefit ratio on recruitment and retention strategies of a healthcare organization.
  • Outline ways to improve the cost-benefit ratio of the selected healthcare organization.
  • Explain the role of HRM in ensuring the most competitive compensation package for employees.
  • Describe methods of improving the compensation package of the selected healthcare organization. Explain how your recommendations could enhance recruitment and retention strategies of the organization.
  • Discuss how you would address competitive compensation, benefits packages, career development, and succession planning in working towards the selected healthcare organization’s strategic goals.

Submission Details:

  • Present your analysis in a 6- to 8-page Microsoft Word document formatted in APA style. On a separate page, cite all sources using APA format.

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