Compensation Management Project Report-
I. Guidelines for the project report:
Your group is a team of Senior Consultants working for "Human Resourcefulness Inc." - a leading HR consulting firm. Your client is "Banks R Us", a leading company in the banking sector. The HR director Banks R Us is concerns about their compensation policy. She thinks that Banks R Us is paying too low in comparison to the market and probably that is the reason why Banks R us is not able to attract and retain talented people. She further believes that the lack of a competitive pay policy is negatively affecting Banks R Us's market share. She wants to present her arguments to the top management of Banks R Us in the next board meeting. Obviously, she cannot do this without factual data to support her arguments.
Since your firm has a good reputation for providing credible data services to your clients, she hires your firm to solve her problem. Based on extensive negotiations and deliberations, your firm has agreed to provide the following deliverables to Banks R Us:
1. A compensation survey report which includes the following:
a. A market trend line on different forms of pay (base pay, total cash and total compensation)
b. A comparison of Banks R U's compensation with that of the market on different forms of pay.
c. Your recommendations - whether Banks R Us should lead/lag/match the market on different forms of pay.
d. Based on your recommendations on base pay, (i.e., should Banks R Us lead/lag/match the market), formulate pay grades, pay range and range overlap.
2. An individual level pay report which includes the following:
a. A comparison of each employee's current base pay with the pay range and recommending which employee's base pay can be categorized as red circle, green circle or neutral.
b. Calculating compa-ratio based on each employee's current base pay rate.
c. Analyzing the performance matrix and recommending the amount of incentive which should be paid to each employee.
Your firm has assigned this project to your team. Based on your previous consulting experience with Human Resourcefulness Inc., you are aware that the following should be the format of your project report:
-An executive summary (1-2 pages)
- Problem of your client and your task
- Overview of your findings
- Your recommendations
-Part 1: Compensation survey report (4-5 pages)
- A market trendline report with tables and graphs for different forms of pay
- A comparison of Banks R Us with the market on different forms of pay. Include tables and graphs
- Your recommendation on pay policy
- Pay grade, pay range and range overlap
-Part 2: Individual level pay report (2-3 pages)
- Red circle, green circle or neutral pay rates
- Compa-ratio
- Performance payouts
II. Project Report Assessment
1. This project is worth. These marks are distributed as follows:
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Team Component
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Format & Style
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Parts of the report arranged in order
Font, line spacing, margins
Tables & graphs correctly referenced and placed in the report
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Analyses
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Completeness
Accuracy
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Content
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Executive summary
Compensation survey report
Individual pay report
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Individual Component
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Contribution to the report as assessed by your team members
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2. In order to assess the individual component of the project report, each member of your team will report on your contribution to the project using the following rubric. Your marks on the individual component will be based on the average of the ratings provided by your team members.
Your Name:
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Performance Dimensions
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Name of team member
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Absolutely unacceptable
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Unacceptable
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Acceptable
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Good
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Excellent
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Quality of work (the degree to which this person's work is free of flaws)
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Quantity of work (the total amount of work completed by this person in a given time)
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Attendance (the degree to which this person attended group meetings and was on time)
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Cooperation (the degree to which this person cooperated with the team to write the project report
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