Compensation Plan (LA & Manhattan)

Words: 522
Pages: 2
Subject: Premium Writing

This is apart of a group project – My portion is for the Los Angeles & Manhattan locations. Each location should be at least 2 pages.

Your team is a task force working for a start-up boutique hotel chain preparing to launch in five locations across the country. These new hotels are currently under construction in Manhattan, Chicago, Miami, Houston, and Los Angeles, and are expected to open in about 5 months. The hotels are small, 50 to 100 rooms depending on the city, and luxurious. The hotels will appeal to a select clientele. The marketing approach taken by the hotels is being defined and is not part of this assignment.
The CEO of your new organization believes in a very collaborative approach to management. She also believes that everyone in the organization should be working on stretch assignments. Your task force is the first to receive this stretch assignment, which is the Course Project.

You are to work in a virtual self-managing work team to develop a recommendation for compensation packages for soon-to-be Management employees of the five hotels. The CEO has not been very clear about how the hotels will be staffed, figuring that the team can figure out what the positions would be, leaving the number of employees in each position to be determined by the five selected Management positions. She has directed that she wants the hotel Management staff compensation to be higher than average, maybe in the top 25 percentile. She also wants the compensation to be adjusted for the local cost of living. Everyone’s compensation is to have some bonus potential based on the profitability of the location at which they work.

Deliverables: Compensation Plan Recommendations for LA and Manhattan
The report is to contain the following.
1. The methodology that was used to complete the project
2. Job descriptions for your five chosen (Management) positions
3. The results of a compensation survey you conducted using sources available on the Internet
4. How your recommended compensations were calculated, including averages, adjustments for locations, and adjustment to create packages that were in the top 25% of industry compensation packages
5. Create a very basic Job Evaluation methodology that includes FIVE areas to measure (including education experience, cost of errors and/or other KSAs) and calculate the actual evaluations of the five positions
6. Create a very basic Merit Grid for the annual pay strategies for the five positions