Compensation Plan Evaluation: Human Resources Specialist Essay

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The human resources specialist position is a government job that implies an extensive compensation plan, including a fixed salary, insurance, pension plans, and other aspects. The job itself offers a salary-only plan, illustrating that the fixed wage does not depend on the amount of work one does or the number of people hired based on the agenda. Instead, the salaries (ranging between $47,548.80 – $69,700.80) may be labeled as job-focused payments (Human Resources Specialist, 2022). This implies that the payment does not depend on performance but is based on the job itself, the tasks that are to be accomplished, and the responsibilities. Such an approach has a negative and a positive connotation to it. On the one hand, a study has shown that physicians who are paid for each person they meet are to be more efficient with their time (Cadena & Smith, 2022). However, another research has exemplified that a performance-based payment may put pressure on employees, resulting in burn-out and low employee retention (Slater et al., 2022). Employee retention is the main driving factor that creates an environment in which an adequate compensation plan is needed (Njoroge & Maina, 2022). Thus, a government job that implies a level of confidentiality and privacy is more likely to be secure with a job-based plan. This correlates with the ability to receive extra bonuses based on seniority in the institution, which depends on the experience in the field based on the years and the knowledge a person has gained through the job position. Another critical implementation that facilitates high employee retention is medical insurance. Such nonmonetary rewards (including dental, vision, and other plans) also apply to one, two, and more dependents. This particular compensation plan will be reviewed and evaluated due to the fact that the human resource specialist position is offered by the government, a factor that may influence the specific aspects included in the offer since it is funded through taxes.

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Characteristics of the Job

It is also important to illustrate that the salaries mentioned in the job description are not much higher or lower than the average on the market. Thus, the government’s offer does not create unnecessary competition and offers reasonable payment that aligns with wages offered by other organizations and institutions with the same tasks to accomplish. Moreover, the relatively complex nonmonetary compensation plan may be facilitated by the various tasks and the required experience listed in the job description. This significantly narrows down the pool of potential employees since one of the requirements is having four years of experience in human resources. When designing the compensation system, it was deducted that this factor would be cost-effective in terms of training and supervising new employees for an extended period of time. Moreover, the job implies that the person seeking the position is to be proficient in knowing and applying the current legislation and certain regulatory implementations in their day-to-day tasks (Human Resources Specialist, 2022). Furthermore, working with confidential data, having high responsibilities, and following rigid protocols are other aspects of the job that are balanced out with an adequate compensation system (Martocchio, 2017). Since the job requires writing instructions, reports, and plans, there is a need for fourth-degree writing ability at least. Based on the job-content evaluation process, the multiple responsibilities are not necessarily highly compensable. A factor that is arguably more prominent in terms of correlation with higher compensation is the level of responsibility the job implies. Due to the fact that the employee is to work with private data and have access to the personal information of possible future governmental employees, the level of responsibility is relatively high. On the other hand, the mental and physical effort does not put the job position high on the list compared to other positions that imply more risks.

Market Analysis

As mentioned prior, the wages, bonuses (both monetary and nonmonetary), and other aspects of the compensation offered through the position of a human resources specialist have been facilitated by the market. Multiple governmental jobs offer extensive compensation since they are funded through taxes, which is not nuanced for this position. From this perspective, the offer implies a market-competitive pay system since it compares to similar offers with higher wages but fewer benefits offered by private enterprises. It is essential to mention the location (San Diego) as another facilitator of a relatively high wage of $23-33/h (Human Resources Specialist, 2022). Major cities with higher prices for rent and other commodities have to offer a salary that people would seek since it covers the expenses of rent, utilities, and other essentials. Thus, people seeking jobs in urban areas such as San Diego are to receive a wage that is in line with the living standard of the city. This is why the wage offered by the institution are adequate. Needless to say, the salary depends on the position since multiple are included under the category of human resources specialist, from HR assistant to Sr. HR analyst. The responsibilities differ, which is why the hourly wage also varies depending on the experience of the employee, the seniority within the company, the initial knowledge in the field, and the interview that will determine personal qualities. Based on the evaluation, the job position and the compensation system published by the employers are in line with the difficulties of the responsibilities, pay-system competitiveness, and the relatively low physical and mental effort necessary to complete the job-related tasks. As a result, the compensation plan can be deemed adequate and reasonable in accordance with the job position itself.

References

Cadena, B. C., & Smith, A. C. (2022). Journal of Public Economics, 206, 104580. Web.

Job Descriptions and Salaries | County of San Diego. (2022). Web.

Martocchio, J. J. (2017). Strategic Compensation A Human Resource Management Approach (9th ed.). Pearson.

Njoroge, J. M., & Maina, J. (2022). Compensation. Encyclopedia of Tourism Management and Marketing. Web.

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Slater, B. J., Collings, A. T., Corvin, C., & Kandel, J. J. (2022). Value-based surgery physician compensation model – review of the literature. Journal of Pediatric Surgery. Web.

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IvyPanda. (2023) 'Compensation Plan Evaluation: Human Resources Specialist'. 31 May.

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IvyPanda. 2023. "Compensation Plan Evaluation: Human Resources Specialist." May 31, 2023. https://ivypanda.com/essays/compensation-plan-evaluation-human-resources-specialist/.

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