Total Pay (HRM 534) – Spring ‘17Individual Final Project DescriptionThis indepe
Total Pay (HRM 534) – Spring ‘17Individual Final Project DescriptionThis independent project requires you to design and describe an integrated total pay project aimed at helping an organization achieve its business objectives. Specifically, you need to do the following:q Choose any organization (e.g., big/small, public/private/non-profit, manufacturing/service, domestic/multi-national, etc.) that you interests you. You may also select a division or subsidiary of a larger parent organization if you would like to sharpen your focus.q Provide a brief background summary of the organization (its structure, people, products or services, history, competitive landscape, etc.)q Describe the mission, vision, and key values of the companyq Describe a set of business goals or objectives that the organization is either currently pursuing OR you believe it should be pursuing.q Design and describe a proposed integrated total pay project for the company. That is, 1) describe the current compensation system and propose changes you would make (i.e. a better approach) using one or more of the models presented in class and/or the text. To make things more manageable, you can focus on one (or a small number of jobs)- you do not have to cover the whole company for the compensation phase. Then, 2) describe the current benefits program and propose changes you would make (i.e., a better approach) using what was covered in class and/or the text. Although you can focus on the same job(s) outlined above in the compensation phase, for the benefits phase you should take a more “whole company” perspective. Finally, 3) describe ways to help the employer become more of an “Employer of Choice” (EoC) or “Best Company to Work For”. Although you can focus on the job(s) discussed above in the compensation phase, for the EoC/Best Compnay phase, you should take more of a “whole company” perspective.q Be sure to specify how the above three interventions (i.e., enhancing the compensation system, benefits program, and Employer of Choice/Best Company initiative, will help the organization improve its performance, achieve an objective, and promote its mission, vision, and/or key values. q You should describe each phase in detail including specific steps you would take and specific changes you would make to the organization’s existing approach to compensation, benefits, and being an EoC/Best Company. A key part of the paper is to provide evidence for why you think your proposed changes will work and how they will help the organization (i.e., provide extensive research supporting why your specific proposed compensation system (and benefit program and new EoC/Best Company approach) will work for the job(s) and organization you selected).