Overview
Class Project
For your class project, you will be describing a compensation strategy for an organization you are familiar with; your current job, former job, or another position. You will be pulling together your work in the Project Preps into an essay/organizational document.
Your project should be approximately 1500-2000 words in length and follow APA format.
Your essay should include:
- An effective introduction with thesis statement or plan objective
- A description of your company and its background
- A strategic map (Week 1 Project Prep – see below) of your company's compensation strategy using the first 5 decisions contained in the pay model
- From Week 2 Project Prep (see below), a job description for your chosen position
- A performance appraisal example (Week 3 Project Prep – see below) with description of methods for effective appraisal and performance interview
- Conclude your essay with your thoughts on the information you have learned in the class and how you think it will help you in the future
Grading criteria:
Maximum points will be given to essays that thoroughly cover the criteria set out in the guidelines. Use of concepts learned in the class and outside material will strengthen the essays impact, as well. The course Project Preps help you prepare for your class project by introducing you to concepts usable for your essay.
In general:
- Follow the guidelines provided for the Final Course Project
- Meet word count requirements
- Cite and reference any outside sources used in your essay in APA style
Have fun with the assignment. Do your best to apply the concepts learned in the course to your writing.
Week 1 prep: This week, we will focus on mapping compensation strategies. It should be pointed out that strategic maps provide a visual reference useful in creating a compensation strategy that is focused and clearly understood by employees and managers. Using your job or responsibilities, utilize the concept of strategic mapping to provide a picture of your company's compensation strategy using the following 5 decisions contained in the pay model; objectives, alignment, competitiveness, contributions, & management (Exhibits 1.5 & 2.1):
Objectives
Prominence: how important is total compensation in the overall HR strategy? Is it a catalyst, playing a leading role? Or is it less important, playing a more supporting role compared to other HR programs. An example is Microsoft where compensation is highly prominent vs. Bristol-Myers Squibb where it is more supportive.
Alignment
Describe in terms of flexibility, degree of internal hierarchy, and how well compensation supports career growth. Example: Microsoft and BMS both use pay to support flexible work design and promotions. But in internal hierarchy, Microsoft is individual-oriented compared to BMS focus on teams.
Competitiveness
Describe as total pay relative to what competitors offer (how much?) and the importance of incentives relative to base pay (what forms?). The importance of work/life balance achieved via benefits and services should also be included.
Contributions
Focus on the basis of pay increases -- individual and/or team performance -- and the mix of pay forms (base pay, incentives, merit, bonus, stock options).
Management
Describe in terms of ownership (non-HR managers' role in managing pay), transparency (openness and communication about pay), technology (software support to administer pay), and the degree of employee choices and customization.
Week 2 prep: This week you will prepare for your class project by using the information in Chapters 4 & 5 on job evaluation and analysis. You will be developing a job description for your position in your chosen organization covering the following points:
- job title
- job summary
- relationships (report to whom, works with whom & external relationships)
- qualifications
- essential responsibilities
Week 3 prep: This week you will prepare for your class project by using the information in Chapters 9, 10, & 11 on performance and appraisal to your chosen position.
Adapt this document, or a document example from your textbook, to your needs using the information in Chapter 11. Using the information presented in this week's reading, complete the form for your position or have someone complete it for you. Begin thinking about what your measurement system should provide and your preparation for a performance interview.
For more information on performance appraisal, visit the site below.
http://www.businessballs.com/performanceappraisals.htm
please see the attached project examples.