OBJECTIVE: The objective of this assignment is to develop an appropriate benefit and retirement savings program for the Great Canadian Company (GCC) Ancaster to support it with achieving its business objectives. You are the benefits and pensions advisor to the owner of the Great Canadian Company Ancaster.

The Great Canadian Company located in Ancaster (GCC) is a boutique retail company located across Canada.The company was started by the owner in 1990. It now has annual revenues of $55,000,000 and operates in 15locations across Canada.Currently private, the company expects to go public in 2023, when sales are expected to hit $65 million. Thebusiness requires new capital expenditures to continue its growth and the public stock offering will create the cashrequired for growth. The pace of the company's business is rapid. New products and services are the only way tostay ahead of the competition.Employment has increased from 10 in 1990 to 450 in 2019; current employee demographics are:20s 30s 40s 50plus TOTALFull-time (FT) 44 44 16 25 129Part-time (50% of FT) 131 133 49 8 321% single 73% 94% 85% 76%% married to FT 27% 6% 15% 24%Salaries: based on a 7 hour dayAverage hourly pay $16.95 $22.15 $45.50 $65.50

While all employees are currently non-union, there are some reliable sources indicating staff are looking tounionize in the Vancouver and Montreal locations. The owner is concerned that the company is growing so fastthat the collegial atmosphere is disappearing. Turnover has been just around the industry average (35%) andlately, turnover among new hires is increasing more than the overall average.The owner senses the need for a professionally designed benefits and retirement savings plan. Funds areavailable but not unlimited. The expectation of going public puts pressure on the firm to look responsible andconservative to potential investors. However, the owner wants to maintain the corporate culture that made thecompany successful.No formal indirect compensation plan or retirement savings plan currently exists. Instead, employees are hiredbased on market rates and the benefits package has been based on government sponsored benefits only

YOUR DELIVERABLES:The owner of GCC has hired you as the benefits advisor to design a benefits and retirement savings plan withsupporting communications to support the company to achieve its many objectives.Consider the following guidelines in creating and writing PART 1 of your report due Nov. 2:Required Report Content Out of 1001 Write a letter of introduction about your consulting company and what you are going todo for your client. This letter generally deals with the "scope" of the project and thespecific recommendations you are making.152 Identify the total compensation philosophy for your company and the specific goals forhaving a benefit and retirement savings plan. Include a description of the issues that abenefit and pension plan will address and include and assumptions you are making inpreparing this Report.153 Provide your recommended benefit plan design; this may be fixed or flex, one plan orseveral "job level" specific plans. Include plan eligibility and other key design criteria.404 Prepare a budget for your proposal benefit plan including the supporting reasons forbeing either under or over the competitive market average budget (as a % of totalcompensation) for these types of plans (use spreadsheet provided to aid in preparingbudget(30

SCOPE OF THE PROJECT:

You will prepare a report outlining your benefits and retirement savings plan, as well as the supporting communication plan and the rationale for your recommendations. There are 2 parts to the Report: Part 1: due Nov. 2-

Describe the total compensation philosophy for your company

Identify the goals of having a benefit and retirement savings plan

Propose the benefit plan design

Confirm the available benefit plan budget and employee eligibility criteria