Reference no: EM133159957

Looking for help with this assignment. I really do not understand it. Thank you

• Nutriment decided to conduct research on competitors' compensation. As the first step, Nutriment needs to select relevant market by choosing their competitor companies. 
• Please read again the case of Nutriment and review the attached list of companies. Based on the information provided (size, industry), choose the companies that you think are competitors for Nutriment. List those companies (e.g., company 1, 5, 15, 34, 47, 52).
• Please explain why you chose those companies as the relevant market.
  • What are the bases of your decision? (e.g. hints: Nutriment's business development stage/strategy, size, industry, competitors for talents)

Nutriment's new hires

With the demand for more nutritional food options growing, Nutriment Biotech is positioned to become a leader in agricultural biotechnology. Nutriment is a start-up biotech company that is working to develop genetically engineered food crops that offer enhanced nutrition along with easier production for farmers. Emily Hart and Harold James established Nutriment as a research organization through national grant funding 5 years ago. Nutriment is one of only a few agricultural biotech companies focused on enhancing nutrition in food crops. The company currently has an edge over competitors as its research has led to some scientific discoveries that now position them to grow their company significantly. As a result, Nutriment is ready to start hiring staff to get operations started.

Emily and Harold have hired Jack Stewart, an HR management consultant, to help them determine how to hire the most talented staff to grow their business. Jack works mostly with start-up tech-based companies and plans to help Nutriment implement a recruiting and hiring plan and establish its preliminary HR management practices such as its pay structure.

Nutriment has secured additional funding to allow it to ramp up full operations quickly. An analysis of its projected workload suggests it will need to hire approximately 15 new employees to get started. It will need to hire not only 10 new scientists but also administrative staff members including a receptionist, an office manager, a lab manager, a marketing professional, and an accountant.

As an experienced recruiter, Jack is confident that he will be able to quickly identify strong candidates for the administrative staff positions. The current labor market works in Nutriment's favor, and , therefore, Jack will be able to easily generate a pool of qualified applicants. The scientists, on the other hand, will be challenging to find as they need specific expertise related to agricultural biotechnology and genetic engineering. The number of scientists with this combination of skills is limited, and the scientists are in demand by competitors. However, Nutriment is located in a geographic area rich with research universities and other biotech firms, so Jack is confident that it can attract a good pool of talent if it is able to offer an opportunity that is attractive to the scientists.

To start the recruiting process, Jack must first establish a pay structure. Before he starts researching market rates, Jack plans to meet with Emily and Harold to establish pay level policies and discuss other strategic aspects of determining the compensation structure for the new employees. Nutriment must offer a pay package that will allow it to attract and retain both the administrative staff members and the scientists. Establishing the right pay practices will help ensure that the recruitment process allows it to put talent in place to position Nutriment for success.

List of companies (1)

• Base = Base wage
• Ben = Benefit
• STI  = Short term incentives
• LTI   = Long term incentives
• Total Comp 
  • =Total compensation
  • =base wage + STI + LTI + Benefit

company#	industry	size	Base/Total comps	Ben/Base	LTI/Base	STI/Base
1	biotech	large	75	29	0	5
2	biotech	large	55	28	41	15
3	Pharmaceutical	med	48	32	55	20
4	biotech	med	76	30	0	1
5	biotech	med	68	26	18	3
6	Pharmaceutical	med	59	27	38	6
7	food	large	77	28	2	1
8	semiconductor	large	59	39	1	8
9	biotech	large	58	24	30	19
10	manufacturing	med	75	31	1	0
11	biotech	med	69	27	15	2
12	food	large	76	26	4	2
13	food	med	77	25	4	1
14	biotech	med	67	43	0	6
15	biotech	large	64	34	5	16
16	semiconductor	med	79	19	2	5
17	Pharmaceutical	small	72	26	0	14
18	manufacturing	large	70	42	0	0
19	biotech	large	47	37	68	8
20	food	small	78	25	0	4
21	Pharmaceutical	small	73	26	9	2
22	semiconductor	med	72	27	11	2
23	biotech	small	72	18	19	2
24	manufacturing	med	76	32	0	0
25	biotech	med	73	25	8	3
26	biotech	large	67	32	8	8
27	manufacturing	large	75	27	0	8
28	semiconductor	small	75	22	9	2
29	food	large	54	28	57	1
30	Pharmaceutical	small	70	23	12	7

List of companies (2)

• Base = Base wage
• Ben = Benefit
• STI  = Short term incentives
• LTI   = Long term incentives
• Total Comp 
  • =Total compensation
  • =base wage + STI + LTI + Benefit

company#	industry	size	Base/Total comps	Ben/Base	LTI/Base	STI/Base
31	manufacturing	med	72	36	0	3
32	Pharmaceutical	med	64	30	18	9
33	biotech	med	65	17	26	12
34	semiconductor	small	77	22	7	1
35	food	small	79	22	2	2
36	manufacturing	med	63	50	0	8
37	semiconductor	small	69	22	23	1
38	biotech	med	82	20	0	1
39	biotech	med	62	36	18	0
40	biotech	small	67	35	9	4
41	biotech	med	43	23	104	5
42	manufacturing	small	79	26	0	0
43	food	med	73	28	4	5
44	Pharmaceutical	small	46	28	77	9
45	biotech	small	75	19	12	2
46	biotech	small	73	23	11	4
47	biotech	med	69	30	6	8
48	food	small	72	28	6	6
49	semiconductor	small	76	26	3	2
50	Pharmaceutical	small	69	29	10	6
51	biotech	small	41	22	119	3
52	biotech	med	65	26	18	9
53	biotech	small	52	19	69	4
54	biotech	small	68	24	22	0
55	biotech	small	48	24	76	7
56	biotech	large	80	25	0	0
57	biotech	large	76	28	1	3
58	food	large	75	28	1	4
59	biotech	large	76	28	1	3
60	biotech	med	76	22	5	5