How would market research provide information about compensation and benefits when designing a compensation and benefits plan?

How would market research provide information about compensation and benefits when designing a compensation and benefits plan? How should the CEO use this market research for the company’s plan?Explain

 

Compensation and Benefits

Description

Module 02 Content

The Lollipop Company Inc. needs your help with the current compensation and benefits plan. Leadership expects you to use your evaluation skills combined with or built upon your knowledge application and/or analysis skills to help solve this dilemma. The current plan is viewed as fair by the CEO and Leadership but several employees have complained it’s not enough. The current employee status is as follows:

1 CEO with a base salary of $150000 and benefits that equal 40% of the salary

3 additional executives (senior management) with a combined base salary of $300000 and each receives benefits that equal 35% of the salary

6 middle management personnel with a combined base salary of $420000 and each receives benefits that equal 30% of the salary

10 first-line supervisors with a combined base salary of $500000 and each receives benefits that equal 25% of the salary

150 non-supervisory employees with a combined base salary of $4500000 with an average individual salary of $30000 and each receives benefits that equal 25% of the salary

For this project assignment on Lollipop Company Inc. complete a minimum 3-page business professional report selecting and organizing expert information that is useful for a CEO and addresses the following concepts:

Visit the Rasmussen online Library and search for a minimum of 4 articles covering the topics of FMLA and workplace safety. Conduct academic research using the library’s databases like:

Discovery

ASP: Human Resource Management Online

Business Source Complete via EBSCO

Business via ProQuest

How would market research provide information about compensation and benefits when designing a compensation and benefits plan? How should the CEO use this market research for the company’s plan?

How does the company achieve a balance between financial and non-financial compensation and benefits?

What type(s) of primary and secondary research would you recommend be conducted? What are the benefits? Explain.

Remember to integrate citations accurately and appropriately for all resource types; use attribution (credit) as a method to avoid plagiarism. Use NoodleTools to document your sources and to complete your APA formatted reference page and in-text citations.

16 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *