This Total Rewards Strategy is the final project for this Compensation, Benefits, and Performance Evaluation course. You will be required to put theories and concepts learned in class into practice. In-class and homework assignments are designed to assist students in completing the individual components of this final project. You will develop a Total Rewards Strategy around the employee database provided. Please refer to the two excel sheets. Those are the employee database.
You should cover the following components:
I. Compensation
a. Compensation Philosophy
b. Pay Scale
c. Pay Frequency and Pay Schedule
II. Benefits
a. Type
b. Coverage
c. Eligibility
d. Rationale
III. Performance Evaluation
a. Performance Evaluation Method and Form
b. Schedule for Evaluation
c. Performance Distribution
IV. Workforce Analysis
a. Gender Composition
b. Ethnicity
You will address the assigned challenge question during the
presentation. The challenge is :PAY COMPRESSION: The Federal Minimum Wage has just increased from $7.25 to $12.00. Which employees and positions are impacted by this change? What is the cost impact of this
change to the organization? How would you handle pay compression? What
recommendations would you make to management to handle this situation?
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