INTRODUCTION

A competitive total rewards plan is essential to attracting quality talent and personnel who can contribute to the success of an organization. An effective total rewards plan includes both compensation and benefits.

In this task you will create a market research-based total rewards strategy that includes a detailed compensation plan for a fictional business called The Bravo Center. This will be essential for a revitalizing organization, like The Bravo Center, whose new owners have committed their efforts to making the organization a success. Refer to the attached scenario and market research document to guide your work.

SCENARIO

See the attached files

REQUIREMENTS

A. Create a total rewards strategy based on a lead, lag, or match approach to the market competition that supports the organizational goals by doing the following (see the attached “The Bravo Center Scenario” for organizational goals):

1. Based on external market research (provided in the attached “Market Research Data” document), internal equity, or the needs of the organization, explain how your total rewards strategy will lead the market, lag the market, or match the market, including a justification for your decision.

2. Explain how your total rewards strategy supports the following two goals:

• recruitment of understaffed sections of the organization

• retention of understaffed sections of the organization

3. Provide the total rewards mix of base pay, variable pay, and benefits and explain the factors that influenced your choices.

B. Create a compensation plan by doing the following:

1. Provide your pay mix for each job category in the organization.

Note: You may provide the pay mix as a written narrative or a chart.

Note: Refer to the table in “The Bravo Center Scenario” for an identification of each job category.

a. Justify your pay mix allocations among the various compensation areas and include reward priorities.

b. Explain how your pay mix from part B1 aligns to the compensation strategy and to the organization’s strategy.

2. Describe how your compensation offering would give a competitive advantage in the recruitment of IT and marketing personnel given their unique qualifications and limited market availability.

C. Identify and describe one internal equity factor and one other pay factor that you will consider when you build your pay structure, based on your pay mix from part B1 and your job categories.

D. Describe two specific compensation items you will use to recruit a new chief operations officer (COO) and include an explanation for your compensation item you have selected.

E. Describe how you will determine the rate of pay for the 18 contingent workers needed for the grounds crew.

F. Acknowledge sources, using in-text citations and references, for content that is quoted, paraphrased, or summarized.