Read the “Fred’s Cola” case study and answer the following questions:
Step 1: Developing the Compensation Strategy
A) Identify and
explain the current organizational problems (minimum of 5). These may include
strategic, structural and other total rewards factors. (75-150 words)
B) Identify
the type of managerial strategy (classical, human relations, high involvement)
that you feel is best suited to Fred’s Cola and explain why you selected this
strategy. (75-150 words)
C) Identify
the types of compensation strategies you would recommend (both direct and
indirect forms of compensation) and discuss why you selected these strategies. You
must select a minimum of 3 (three) in addition to base pay. Be
sure to also discuss the types of employee behaviours that you feel are
important to Fred’s Cola, and the role that compensation will play in producing
those behaviours. (75-150 words)
Step 2: Job Descriptions and Evaluations
A) Select (2)
two jobs that exist within Fred’s Cola and write a job description for each. Do
your research – in reality, you would interview managers and incumbents to
better understand the roles. In this situation, you may need to search the
internet for a similar type of organization (or job posting) to write these
descriptions.
B) Identify
the method of job evaluation that you would use to evaluate jobs at Fred’s Cola
and explain why you selected that method. (75-150 words)
Step 3: Communicating the Program
A)
Write a
total rewards philosophy statement (75-150 words)
B)
Identify your communication
channels – what methods will you use to communicate the program(s)? These may
include annual statements, newsletters, emails, meetings, etc. Explain why you
chose these methods. (150 words)
C)
Identify who will
be responsible for communicating the program(s). (150 words)
Step 4: Evaluating/Monitoring/Adapting the Program
A)
It is important to
understand how your plan is being received by employees to continuously
fine-tune your approach. Identify how you will approach this. (200 words)
B)
To ensure your
total rewards communication strategy is operating effectively, you will want to
conduct an annual audit of the program performance. Identify how you will
measure the effectiveness of your communication practices. (200 words)
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