Individual Project & Rubric for MAN4330
Pay Study: The purpose of this assignment is to assess your understanding of competitive compensation and benefits within a business setting.
For this assignment, you are required to earn a C or better to pass the class. If you do not complete this assignment or do not earn a passing grade on it, you will fail the class. Because of this requirement, you will be allowed one resubmission of the final compensation study report if your combined grade for the benchmark jobs report and the final compensation study report are below 70%. All resubmissions will be due no later than 4/17/2022. Failure to submit the assignments on the original due dates does not grant an extension for resubmission. The original submission must meet the minimum requirements to be eligible for resubmission. In other words, your first submission must at least attempt to cover each of the required areas as outlined in the rubric
For this activity, you will:
a. Identify an organization that you would like to examine. This could be a local company, a hospital, a government agency, a retail store, a grocer, etc. It can be any company of your choosing.
b. Identify at least three competitors of your chosen organization. For example, If you chose to examine UPS, then you could also look at Fedex, Amazon (for delivery), DHL, or even the US postal service since they deliver packages as well. The companies should compete in the same industry.
c. Identify at least 5 jobs to represent the companies’ job hierarchy from entry level to management. (you will learn the concept of benchmark jobs and job hierarchies as we work through the chapters in the textbook)
d. Review the job descriptions for each of the benchmark jobs for each of the companies to make sure the job requirements and responsibilities are essentially the same. The key is to make sure the jobs are comparable. Provide a one short summary of each benchmark job.
e. Gather pay data from each company for each benchmark job. This will include the pay range (minimum, midpoint and maximum pay) and any incentives or bonuses. Normally, when performing a pay study, you would look at the average pay for the incumbents. Since that information likely not be available to you, you will focus on the midpoint.
f. Gather fringe benefit data for each company. This will include health insurance, leave (PTO, vacation, sick, etc), retirement, tuition reimbursement, dental, vision, etc. There could be more. For health insurance, make sure you look at the components of the benefit: i.e. cost to the employee, deductibles and out of pocket, coinsurance and/or co-pays, etc.
You will have 2 assignments due for this project.
Assignment 1 – Benchmark jobs report
a. Identify an organization that you would like to examine. This could be a local company, a hospital, a government agency, a retail store, a grocer, etc. It can be any company of your choosing. 2 points
b. Identify at least three competitors of your chosen organization. For example, If you chose to examine UPS, then you could also look at Fedex, Amazon (for delivery), DHL, or even the US postal service since they deliver packages as well. The companies should compete in the same industry. 5 points
c. Identify at least 5 jobs to represent the companies’ job hierarchy from entry level to management. 10 points
d. Review the job descriptions for each of the benchmark jobs for each of the companies to make sure the job requirements and responsibilities are essentially the same. The key is to make sure the jobs are comparable. Provide a one short summary of each benchmark job. 15 points
I will provide feedback on this first assignment. You will be expected to make any necessary changes in your final compensation study report.
Assignment 2 – Comprehensive Pay Study Report
Your report should:
a. Present a clear picture of the context of your company and its competitors – name of each company, locations and the industry in which they compete, worth 5 points
b. Present a summary of the job classifications chosen as benchmark jobs and – worth 15 points
c. Present a comparison of pay data (this may include graphs and charts) worth 25 points
d. Present a summary comparison of the fringe benefits packages (may include charts and graphs) worth 25 points
e. Provide an analysis of the pay and benefits for your company as compared to its competitors. Include the market pay line and the pay line for your company. Discuss the pay policy that they appear to be following and your recommendation for the future, along with your justification for this recommendation. This may include information gathered on turnover rates, number of qualified applicants, and the company’s overall business strategy. Worth 30 points
The paper should be of the highest quality, about 6-8, written in APA 6 style, scholarly, clear, precise, and organized. The page count mentioned does not include the title page and references. The paper should be double spaced with 1 inch margins. Make sure you cite your sources within the paper as well as on the Reference page.
Formative Assessment Rubric
Criterion 5 3 2 1 or 0
Company and competitors chosen Clear identification of organization, the industry and 3 competitors in the same industry. Clear identification of organization, the industry and 2 competitors in the same industry. Clear identification of organization, the industry and 1 competitors in the same industry. Clear identification of organization, the industry and no competitors in the same industry.
Benchmark jobs
Weighted 3x Summarizes 5 job classifications that represent the overall job hierarchy (entry level to management). 3 benchmark jobs are most common in the industry Summarizes 4 job classifications that represent part of the job hierarchy. 2 benchmark jobs are most common in the industry Summarizes 3 job classifications that do not represent the overall job hierarchy . 1 benchmark job most common in the industry Summarizes less than 3 job classifications that do not represent the overall job hierarchy ; jobs are not most common in the industry
Pay Data
Weighted 5x Provides an organized and clear, concise comparative summary of the pay data (min., mid, max) for all jobs for all companies presented. Provides an organized but somewhat unclear, and not concise comparative summary of the pay data (min., mid, max) for all jobs for most companies presented. Provides pay data that is not organized and clear. Presents only part of the pay range for some companies and jobs Provides pay data that is hard to follow, and is missing data for more 1-2 of the companies or jobs. Data is unorganized and hard to follow.
Fringe Benefits
Weighted 5x Provides organized and clear, concise, comparative summary of all fringe benefits, including the essential components of each benefit Provides summary of benefits, but hard to compare between companies, missing benefits of 1-2 companies, does not include essential components of each benefit Provides summary of benefits, but hard to compare between companies, missing benefits of 3 companies, does not include essential components of each benefit Summary of benefits is missing a significant amount of information, does not describe benefits clearly or its components, only show benefits for 1-2 companies
Analysis of Information
Weighted 6x Provides a professional analysis of the benefits of your company with competitors, shows market pay line and clearly discusses the pay policy and recommendation based on justifiable underlying conditions and data Provides and analysis that does not consider market pay line, discusses pay policies and recommendation, with little justification of underlying conditions and data Provides and analysis that does not consider market pay line, discussion of pay policies does not demonstrate an understanding of the concepts and recommendation, with weak justification of underlying conditions and data Does not provide an analysis of the data, market line, discussion of pay policies and no justification of recommendations