Part 4: Design the Performance Pay & Indirect Pay Plan and Plan Implementation - 5%

Associated Project Objectives:

Design an effective performance pay plan and indirect pay plan.

Recommend an effective plan to train staff and communicate the compensation system.

RESOURCES

Part 4 of the group project is based on Compensation Roadmap Step 4 (chapters 11 and 12) and part of Step 5 (chapter 13).

ORGANIZATION (3 marks)

Include a Part 4 Cover page indicating the Part number and Part name.

Include Table of Contents and page numbering.

Include all group member names.

Include headings within each part to organize concepts and recommendations (see suggestions below).

Keep your report clear and concise. Its not about the quantity you write, its about the quality of your content.

Use Arial font type, double space and use size 12 font.

Report length 3 to 5 pages approximate (excluding cover page, Table of Contents and appendices if you decide to include one).

Address the following information in your Part 4 Report:

Recommended Performance Pay Plans (10 marks)

What plans are available for Kapote that you think would be most effective and balance their constraints with required employee behaviours. Justify why you selected these performance pay items and defend why they are the best choice for Kapote. How will they help support the required managerial strategy?

Identify and describe any implementation issues you think may arise and how they can be effectively dealt with.

TIP: Consider nonmonetary reward plans as well: outline which ones, if any, might be appropriate for Kapote? Describe how you might implement them. Why are they the best choice? How do they support the strategy and how might they support desired employee behaviours?

Be reasonable and yet creative!

Considerations in Developing the Implementation Plan (10 marks)

Who should assume overall responsibility for plan implementation? Why?

Training Plan: Who needs to be trained and in what areas? Be specific. Why is the training you recommend important to the success of plan implementation?

Communication Plan: What elements would you include in a communication plan? Who should be responsible to communicate the plan?

As part of your implementation plan, if you feel any new positions are required in the company state which one(s) they are and recommend a starting salary (tip: NOC may also come in handy here).

Identify and describe three ways in which Kapote can evaluate the effectiveness of its compensation system. Why are they important to the ongoing success of the plan?

TIPS: Other items that will be assessed: (2 marks)

Report details must support the topic (dont ramble)

Draw clear conclusions that support your findings

Grammar and spelling

Use headings to keep your explanations organized. Suggested headings are below:

Suggested Headings:

Recommended Performance Pay Plans

Recommended Indirect Pay Plans

Considerations in Developing an Implementation Plan