Building Strategic Compensation Project

The final compensation project should include all of the following:
1) Preface: historical perspective on compensation; 1-2 pages
2) Executive Summary
3) Strategic Analysis                                                                                                                                                        4) Section 1: Internally Consistent Job Structures including job descriptions, factor degree statements and job structure grids;                                                                                                                                                        5) Section 2: External Competitiveness including pie charts, graphs and a written explanation of decisions and results;                                                                                                                                                        6) Summary: summary of how you used strategic approach, research, communication, analytical skills and problem solving to present a compensation package for e-sonic; 1-2 pages
7) Elements in 1-6 should all be combined and submitted as one Word document.

Be sure to include all of the elements of the Outlines as follows:
Strategic Analysis Outline:
1. Executive Summary (Concisely conveys the project objectives and main findings. The executive summary is completed last, but included first in the strategic analysis.)
2. Strategic Analysis
a) Identification of e-sonic’s industry based on the North American Industry Classification System (NAICS)
b) Analysis of e-sonic’s external market environment
i. Industry Profile
ii. Competition
iii. Foreign Demand
iv. Long-Term Industry Prospects
v. Labor-Market Assessment
c) Analysis of Internal Capabilities
i. Functional Capabilities
ii. Human Resource Capabilities

Section 1 Outline:
1. Create Job Descriptions
2. Create Job Structures
3. Build Point Evaluation Method
a) Select benchmark jobs.
b) Choose compensable factors based upon benchmark jobs.
c) Define factor degree statements.
d) Determine weights for each compensable factor.
4. Calculate Point Values for e-Sonic Jobs
a) Determine point value for each compensable factor.
b) Use the job evaluation worksheet to calculate point values for each position.
c) Distribute points for each compensable factor across degree statements.
d) Rate jobs using point method.
e) Individually rate jobs to ensure reliability.
f) Resolve any discrepancies in point totals.
g) Rank jobs in each job structure according to results of your point evaluation.

Section 2 Outline:
Executive Summary Findings
1. Determine Appropriate Pay-Policy Mix
2. Pay-Policy Level Decisions
3. Compensation Survey
a) Choose competitors based upon industry, size, and union status.
b) Select benchmark jobs for each structure using benchmark job descriptions.
c) Reconcile differences using the benchmark job comparison sheet.
d) Update salary data for inflation using CPI-U.
4. Implementation of Salary Survey Results
a) Report and interpret results of regression analysis for each job.
b) Integrate external and internal structures by creating pay grades and ranges.
c) Evaluate and summarize decisions made for each job structure.

List the elements in the outlines as subject headings in your paper.Be sure to insert the grids, pie charts and graphs you created into your Word document and submit 1 document as your final assignment.

 

The final assignment should be at least 17 pages in length.

Be sure to watch your grammar and citations.

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