HRES2203: Compensation and Benefits Group Project

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HRES2203: Compensation and Benefits Group Project: (40%) Action Learning Set (Group) Project. HRES2203: Compensation and Benefits

Group Project: (40%)

Action Learning Set (Group) Project Part A & B, – 25%

Project Plan November 1st and

Project Progress Report November 20th and

Project Report (November 28th)

(Oral and Written Presentation) Project Part C & D – 15%

PPT Presentation – November 28th

Presentation in-class (MS Teams) presentations November 30th or Dec 2nd.

Final Submission November 28th (Project report and PPT with presenter notes)

Value: 195 marks which will be converted to 40% of your final grade.

The final project is designed for you to apply the concepts learned in the course and allows you to apply concepts that you may experience when you are working as a Human Resource professional and/or manager.

Academic Honesty

Ensure you are aware of the College policies on Academic Honesty and also Plagiarism. Academic dishonesty and plagiarism are taken very seriously at the College even if the dishonesty or plagiarism is unintentional. Please also know that taking credit for work you did not contribute to as it is also considered Academic Dishonesty and will be reported.

Academic dishonesty can lead to a zero for this. Ensure you have read the Chiu School of Business Learner Handbook for more information about the Academic Honesty Policy. If you have any questions, contact your instructor.

All ALS members are accountable for Academic Dishonesty. They must check each others work to ensure it is 100% original, not copied or plagiarized.

Only approved references will be permitted. Please see instructions in course offering.

Part A Project: ALS Project Plan – 25 marks

Your team will review/read the entire assignment and develop a project plan. It must contain the team goals and values. Explain how you will work as a team, how you will manage communication, conflict, workloads etc. Below are the basic components of a project plan.

ALS Names and ID

Company Name

Company Overview

Reason for choosing this company

Project Objectives and Goals of the project and ALS – what do you want to achieve? how will you know you have been successful? How will you manage your time, meetings, communication, conflict etc.

Define the deliverables/ tasks – read the entire project requirements and discuss the requirements. Record the main parts of the project.

Roles and Responsibilities – editor, researcher, facilitator, coordinator, SME – topics etc. skills and competencies of each ALS member

Schedule (Milestones/Tasks) – to be completed, by whom and by when, meetings, checkpoints.

Part B – Project Navigation Toolkit and Rubric

The ALS will choose a Canadian company to review and provide a report. The Company can not be Walmart, Costco, Tim Hortons, Starbucks, or MacDonald’s. Not more than two ALS can work on the same company, and the company must be approved by the instructor. As Choice is a first come, first serve basis. Once you have agreed on a company email the instructor and make sure the subject line states ALS number and Company Name. The instructor will respond with approved or not approved.

Instructions

Create a total rewards package that includes a mix of compensation, benefits and perquisites that will motivate the various employee groups including salary staff, hourly staff, and the CEO.

Elements that should be included in your answer

Marks and %

Executive Summary

Complete a maximum one page Executive Summary of the Company, include the following summary in your answer; your answer can be in point form for this section:

What the Company does; i.e. products produced or services provided

Location of the Company

Hours

Demographics of the employees; i.e. if you know the following information, include average age, average tenure, skills and education required, if they are happy

Union or non-unionized environment

The challenges facing the Company

The unique advantages the Company offers its clients or the competitive advantage they have in the industry

How is the financial well-being of the Company?

What is the background in creating the Company? Why did the owner want to create the Company?

Who are the customers? If you have this information, include what you know about their demographics; i.e. age group, socio-economic status, why would the customers be interested in the product or services?

10

Workforce Summary

Summarize the workforce in terms of the following:

Number of employees

Mean age

Average tenure

Competencies and skills applied in the organization

Management strategy, supporting evidence as to why this management strategy is appropriate or why it was selected as the management strategy of choice

Identify how the demographics you collected impact or influence the compensation strategy in the organization. Identify how the Company used the demographics of the workforce to design a strategy that attracts or retains individuals.

10

Compensation Analysis

Identify three levels of the organization including salary employees, hourly employees, and the CEO. Identify the following:

How much of the compensation mix is contributed to base pay and how it is paid

How much of the compensation mix is contributed to indirect pay and identify the elements of indirect pay

How much of the compensation mix is contributed to merit pay and how it is paid

Identify how the Company knows this compensation mix is successful. How does the Company measure its success of its management systems, in particular its compensation system?

Determine if the organization should include other metrics to measure its success with its compensation system

30

Compensation Strategy and Alignment with the Business Strategy

Identify the following:

How the compensation strategy impacts the organization strategy; for example, does the organization require special skills in its staff, are there many hard to fill jobs, is danger pay required, is it a global Company requiring an understanding of many laws?

Think about all these elements as well as others that are important to the organization you selected and why the compensation strategy is important in achieving the goals of the organization.

Why the compensation strategy is important to the different levels of the staff.

What motivational needs are being met?

How is the Company measuring the importance of compensation on employee engagement?

15

Your Compensation Strategy Recommendation

In your recommendation for creating an effective compensation strategy, identify the following:

What elements of the existing compensation strategy would you keep and explain why

What elements of the existing compensation strategy would you change and explain why (include at least one change)

Identify how your changes would improve the alignment between the compensation strategy and the business strategy

What is the anticipated benefit you are hoping the/these change(s) will result in for the organization?

Indicate how you would measure the effectiveness of the change(s) you are proposing and the anticipated benefit

15

Change Factors

Identify the factors that will influence a change in your compensation strategy. Consider the following elements and if they apply to the organization and if so, when do you expect these factors to be of concern for the organization?

High turnover

Financial problems

Employees are thinking about unionization

Satisfaction or engagement levels are decreasing

Management and employee relations are strained

The Company is losing business; for example competitors are stealing market share

10

Compensation Strategy Placement

Based on the recommendation you made for the compensation strategy, identify where your compensation will fall in the industry; for example, will you lead, lag, or represent the market average. Explain why you chose this placement and why you think it will be effective for the organization.

5

Format

The assignment demonstrates cohesiveness in form and content. Spelling and grammar are correct, there is good sentence structure, and references consistent with APA requirements. (http://bowvalleycollege.libguides.com/apa-style)

25

Part B Total

120

Part C & D – Project PPT Presentation (Written and Oral) – 50 Marks

Each ALS will prepare a 15–20-minute ppt presentation – approximately 5 minutes per ALS member (i.e., 3 people 15 minutes, 4 people 20 minutes) –

Summary of your project and reflection – key learnings from the project, course, team members.

Written PPT – 30 marks

Oral Presentation – 20 marks