Problem
Using Kentucky Fried Chicken (KFC) with compensation issues, identifying their compensation strategy. Introduce KFC in terms of company background, mission, vision, company size, market share, products and or services. Explain the SWOT, PEST & Core competencies. Explain the alignment of the Business, HR and Compensation strategy in terms of how many of the quadrants in the Towers Perrin model are in current application in KFC. Discuss in full the major issues in the firm's compensation package. Make recommendations that can be applied to improve performance levels as well as attract, motivate and retain employees to attain a Total Rewards package with the use of models and theories.
1. Define compensation management
2. Give a introduction of the company size, products or services offered
3. Average revenue generated
4. Show the firm's current Business strategy, HR strategy and Compensation strategy
5. Identify if the firm is using a job based or person based structure approach
6. Identify on the Towers Perrin model the current areas of the quadrant being used in the design of the firm's compensation package
7. Outline a SWOT and PEST analysis of the firm
8. Highlight the major issues with the firm's compensation package
9. Make recommendations using theorists on how these major issues can be rectified by mentioning how better integration of the firm's business and human resource strategy could be attained upward, downward and horizontally. Mention motivational theory to enhance performance of employees as well. Show that you apply the recommended compensation package to target all four areas of the Towers Perrin Model on Total Rewards.
10. List conclusion and referencing.