Complete the Required and Recommended Learning Activities for this week.
Research and write a research-based paper on a suggested compensation and benefits plan (relative to the scenario you elect to use from the three Atwood Consulting Scenarios). Focus your research and develop content in accordance with the subtopics noted below.
This paper should be approximately 1250-1450 words minimum (i.e. 4-5 pages) and should contain a minimum of three different peer-reviewed sources.
NOTE: If needed, see the post in our Class Messages area on finding the "Atwood Scenarios."
• Describe a compensation plan relative to the Atwood Consulting scenario you selected in Week One. NOTE: You'll find the scenarios under our Week One Tab. Scroll down to find the link for Welcome Letter from Atwood Consulting. Click on that link. From here, click on the Atwood Consulting link found on the right side of the page. You'll find the weekly Atwood scenarios there. You are only required to use this scenario for this particular paper. However, you are welcome to continue using this scenario for future papers in this course, as it will help you with a framework for each week's topic.
• Describe why the plan you recommend is a good plan for both the individual as well as for the company. (i.e., Why might this plan be considered a good one to employees? Why is it good for the company?)
• Identify any obstacles or resistance from others in the organization relative to this pay plan.
• Describe three components of a Total Rewards Package that might motivate this person to reach peak performance.
• Discuss three best practices for reducing turnover, and how do these help reduce unwanted turnover?
Here is the scenario:
Traci: Hello, this is Traci Goldeman with Atwood and Allen Consulting. I wanted to take a minute to talk with you about your business. Just so you're aware, I will be recording our communications over the next several weeks, including this video chat, and placing them in your file for my employees to use as a reference. Having said that, let's get started. Why don't you tell me a bit about you and your business?
Bradley: Sure, Traci. My name is Bradley Stonefield and I am opening a limousine service. I'm going to name it Landslide Limousines, and focus on providing first-class transportation. I'm really excited to be working with you as I get everything set up.
Traci: And what location are you looking at?
Bradley: I plan on opening in Austin, Texas.
Traci: What is your current location?
Bradley: That's where I'm currently at.
Traci: OK, and how many employees do you have?
Bradley: Well, my goal is to have 25 employees within the first year, so that's the number I'd like to use for any planning.
Traci: All right, we'll keep that in mind. Now, the first thing I'd like to do is to address employment laws, so we can make sure you're on the right track. I'll have my employees work on identifying applicable laws as well as the consequences of noncompliance with those laws, then we'll give you recommendations on how to be compliant. Once we have that, we'll work on some other HR issues for you. Will that work?
Bradley: That sounds great, Traci! Thanks so much for your help, and I'll look for that information from you.
Traci: OK, thank you for your time, and I will be in touch with you soon. Don't hesitate to contact me if anything changes, or if you have any questions. Bye.