Compensation Project Part 3 - Guidelines Purpose: Develop a complete compensation strategy. Treat this as the initial document you will submit to the CHRO to propose an outline of a total compensation package and strategy.

General Guidelines

. You will outline a compensation package for your Chattanooga, TN office.

. Should be easy to understand and rich in information. Likely to be around 5 single-spaced pages in length, not including references, etc.

. This is NOT a fully detailed compensation package for each and every job. That would be a much larger document.

. Explain your strategic approach to compensation, how your decisions support that, and how that compensation strategy supports the organization's strategy.

. Assume the CHRO has your first two submissions and is familiar with them.

. Assume the CHRO does NOT want to reference those documents while reading your third submission except occasionally (e.g., for a quick fact-check on something)

. Clearly label with a heading each section such that each type of information you are discussing is logically organized and easy to find.

Some Reminders and Tips

. You have more jobs in your Chattanooga location than just the 5 benchmark jobs from Parts 1 & 2. This is not an exercise in assigning points or salary ranges to all jobs. It may be useful to think about how all jobs would be grouped into categories or pay grades.

. Cite used resources in a References section.

. A Total Rewards package includes things like

o Cash-type compensation (base pay, variable pay, short- and long-term incentive pay)

o Benefits (both classic benefits like health insurance and work-life balance benefits)

o Performance reviews and related increases or bonuses o Skills and personal growth/development

o Workplace relations and recognition

. It might be true that not all rewards types or approaches will be as impactful for all types of positions

. General things to keep in mind as you are working on this project:

o What needs to be thought about?

o What process will be undertaken?

o What creative solutions can teams develop to attract top-tier talent?

. Do not forget that your goal is to use the compensation package to create an competitive advantage for your company and, particularly, at the Chattanooga location.

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Compensation Strategy for Chattanooga TN Office Introduction This document outlines a comprehensive compensation strategy for our Chattanooga TN office This plan builds upon the findings from Parts 1 ... View the full answer