Reference no: EM131849805
Case Study: e-Sonic
Project outline: As e-sonic compensation consultants, your project work will be divided into three distinct sections preceded by an optional strategic analysis (please consult your instructor about directions regarding the strategic analysis). Effective compensation systems achieve three key goals. Each section of the simulation addresses one of these objectives. First, effective compensation systems provide a firm with internal consistency. An internally consistent compensation system clearly defines the relative value of each job among all jobs in the company, allowing a firm to objectively and legally justify differences in pay. In Section I, your consulting team will lay the foundation for an internally consistent compensation system by creating job descriptions and job structures, building a point evaluation method for comparing jobs, and assigning relative values to a sample of e-sonic positions. The second goal of a successful compensation system includes establishing market-competitiye pay rates for an organization. In Section II, your team will determine appropriate pay-policy mixes, conduct a market pay survey, and create pay grades and ranges; allowing e-sonic to effectively compete for talent in the labor-market. Finally, in performance based pay cultures, successful compensation systems recognize the contributions of individuals. In Section III, your compensation team will determine appropriate methods for recognizing the achievements of individual employees, calculate and distribute merit pay increases across the employee population, and make pay adjustments to specific employees based upon your designed e-sonic compensation system.
Strate ic Analysis: The strategic analysis allows your consulting tcarn to better understand the external market challenges e-sonic faces in adthtion to its internal capabilities. As consultants, a thorough understanding of e-sonic's business environment allows you to better alip your compensation system design with c-sonic's goals, challenges, and objectives. Your consulting team should follow the outline below when completing this portion of the project. Please consult with your instructor to determine the appropriate length of writing for each section.
Strategic Analysis Outline:
I. Executive Summary (because it concisely conveys the project objectives and findings, the executive summary is completed last, but included first in the Strategic Analysis)
2. Strategic Analysis
A. Identification of c-sonic's industry based on the North American industrial Classification System (NAILS).
B. Analysis of c-sonic's external market environment
I. Indystry Profile
2. Competition
3. Foreign Demand
4. Long-Term Industry Prospects
5. Labor-Market Assessment
C. Analysis of Internal Capabilities
I. Functional Capabilities
Human Resource Capabilities
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