Reference no: EM133160856

For more than 10 years you have been a human resources manager at a recently-unionized tool manufacturing company. Your company is home to more than 50 employees, ranging from machinists to metal fabricators, to accounting and inventory clerks.  Your firm has built a reputation of quality, and the relationships of your long-time employee team with customers are a key pillar of your client service strategy, as well as the willingness of most clients to pay above market norms for your products. Simply put, your products are high-quality, your team is solid, and so is your reputation. Everyone at the company has the same benefits package and it seems to be "ok" however no one has ever checked how their benefits compare to other firms or how employees feel about their benefits. Many employee have been with the company for a long time and are aging. Workforce demographics must be considered now and for the future and this may affect your compensation strategy. Given the recent unionization of your workforce, you are formalizing processes and systems, and you recently conducted an inventory of compensation system considerations and have since successfully chosen a compensation system.

Your system design is going well, and your team is now at the point of determining your compensation program, rates and guidelines through an alignment to the external environment. Your team has to choose to remain a leader or fall back into market norms over time because you are concerned about cost inflation through collective agreements and the bargaining process. You set out on the process of conducting an environmental scan of compensation levels from competitors.

Your Assignment:

1. In an introduction of two to three paragraphs, choose a leader or market norm position for a specified job title that you will use to conduct comparative research for your compensation package. Use research into current labour conditions, unemployment rates, and/or available union contracts in the same or similar environments as a basis for your justification for choosing this job title. 

2. Include a  table that has five columns: One for compensation and benefit components, three for competitors, and one for your company (see example). Since you are researching actual available benefit components, ensure you include the source of your research (https://exampledotcom). Suggest why you believe the sources to be valid and outline how you will use the data to reaffirm your pay ranges and approaches.

Comparisons Compensation  and Benefits	Company 1	Company 2	Company 3	Your Company
Website Information	Include URL where to find benefits information	Include URL where to find benefits information	Include URL where to find benefits information	This column will be dependent on your strategy of compensation leader or market norms
Base Pay	Example: $24.00 / hour	Example: $26.00 / hour	Example: $25.20 / hour
Days off	Example: Workers get one flex-day off per month over regular and statutory days	Example: No extra day benefits	Example: Birthdays off, 4 extra days off per year in addition to regular and statutory days
Other components (choose 6 - 9) Some cells may be blank - i.e. if one company has a benefit that another company doesn't - be as  possible.   Benefit Component #
Benefit Component # etc.

1. Conclusion of one or two paragraphs that uses your course learning to date and describes how your decisions will help your company be more competitive and productive.