03 Aug Students will propose a ‘Total Rewards” compensation program for a medium sized company (see description of company below)
Students will propose a ‘Total Rewards” compensation program for a medium sized company (see description of company below). For the purpose of your final project please use this information to help guide the direction for your planning:
The Company: “Stroser Inc.” (this is not a real company)
Stroser Inc., a high-tech firm based out of San Mateo, California is expanding operations in each of the states listed below. This company presently employs 500 individuals across the U.S. Although Stroser Headquarters are based out of San Mateo, Stroser employees are located across the United States (in Texas, Arizona, Florida, Minnesota, and Utah). The one Human Resource employee at Stroser is looking for outside consultants to recommend a comprehensive total rewards program for the organization.
As the consultant you have been asked to draft a 10-15-page document that includes a review of US Compensation– from base pay, bonuses, medical benefits, and stock to 401(k) and other retirement options.
Your recommendation list should include information on pay for employees as well as a review of executive compensation. It is expected that you will provide examples of best practices for each key component. Your best practices will demonstrate examples of companies that are leading or lagging in the market with respect to pay and benefits.
As you close your paper you must make clear recommendations for Stroser:
Introduction. Review why compensation is important and how Stroser can benefit from looking at compensation strategically. (1 + page).
Review of Typical US Rewards programs. Consider all compensable factors such as salaries, benefits, work/life, recognition, and career development. (1-3 pages)
Analysis of best practices for compensation, benefits, and perks. (2-3 pages)
Consideration of US discretionary benefits/retirement plans/legally required benefits requirements (2-3 pages)
Executive compensation data/recommendations. (2 pages)
Best practices/unique compensation methods for attracting and maintaining employees (choose 3-5 companies). (2+ pages)
Recommendation of Rewards program for Stroser. (1+ pages)
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