Compensation and Benefits Paper

A well-thought-out compensation plan is essential in giving a company an advantage in competitive hiring markets to attract and retain a quality workforce. In this assessment, you will apply your knowledge of total rewards to create an organizational rewards structure. This structure should consider organizational strategy, HR strategy, and the external business environment.
SCENARIO
You are the human resources manager of Endothon Company, which helps its clients eliminate paper use by automating their business processes. Endothon is implementing a new software program and faces the challenge of hiring additional staff to help sell and support the program.
 
The company has been in business for five years and currently has 20 employees working on a variety of software applications for clients. Endothon will likely double in size during the next six months and add even more employees by the end of the year.
 
The first round of hires will include three new positions: one brand manager and two product sales representatives. Because Endothon is located in a geographic area in California where the job market is ultracompetitive, recruiting quality candidates will be challenging.
 
Also, the organization’s partners feel that the current job-value structure and pay policy as well as the lack of a formal system of variable pay are outdated. You must define the company’s compensation strategy to allow Endothon to be competitive in the workplace and to attract and retain a quality workforce.
REQUIREMENTS
Your submission must be your original work. No more than a combined total of 30% of the submission and no more than a 10% match to any one individual source can be directly quoted or closely paraphrased from sources, even if cited correctly. An originality report is provided when you submit your task that can be used as a guide.
 
You must use the rubric to direct the creation of your submission because it provides detailed criteria that will be used to evaluate your work. Each requirement below may be evaluated by more than one rubric aspect. The rubric aspect titles may contain hyperlinks to relevant portions of the course.
 
Note: You have been provided with the following attachments: “Brand Manager Job Description,” “Current Job-Value Structure,” “Market Rewards Survey,” and “Product Sales Representative Job Position.” These attachments must be used as you complete this assessment. It is also recommended that you consult the websites provided and integrate any relevant coursework resources into this assessment.
 

1.  Revise the attached “Current Job-Value Structure” to enable internal reward equity by doing the following:

•   Update the salary information for the 20current employees, as necessary.
•   Add in the threenew positions, one brand manager and two product sales representatives, with their anticipated salaries.

 Note: You must base your revisions on the attached “Brand Manager Job Description,” “Market Rewards Survey,” and “Product Sales Representative Job Description.”

1.  Justify the salaries and placement of the threenew positions, one brand manager and two product sales representatives, within the revised job-value structure.

1.  Create a pay grade and ranges table that addresses the current and new roles by using your revised job-value structure and all other attachments.
2.  Describe a strategy to address the original salaries found in the attached “Current Job-Value Structure” that might now be outside the proposed ranges.

Note: If the original salaries are not outside the proposed ranges in your pay grade and ranges table, describe a strategy that you would use if they were.
 

2.  Justify the pay grades and ranges in the table, commenting on attraction and retention strategies.
3.  Recommend onedistinct variable pay option to motivate employees in threedifferent pay ranges from part B, including a justification of why each  recommendation would motivate individuals in that particular pay range.

   Note: One distinct variable pay option should be provided for each pay range.
 

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

 
 
Brand Manager Job Description
 
TITLE: Brand manager
REPORTS TO: Partners
JOB PURPOSE: The brand manager manages design and production of planned marketing programs.
RESPONSIBILITIES:

• Plans and conducts market research to identify opportunities for increased sales
• Maintains customer database and approves the use of internal and external mailing lists
• Reviews analysis of marketing surveys on current and new product concepts in order to recommend future product development
• Provides post-event reports, analysis, and regular status reports on marketing programs
• Plans, promotes, and executes sales meetings as well as community and goodwill events
• Helps establish and maintain consistent corporate image throughout product lines, promotional materials, and events
• Assists in establishing strategic marketing plans to achieve corporate objectives for products and services

• Develops and executes marketing programs to achieve stated objectives regarding revenue, profitability, and market share
• Communicates with outside advertising agencies on ongoing campaigns
• Helps manage marketing budget
• Plans and oversees execution of promotional activities including print, electronic media, trade show, direct mail, point-of-purchase displays, and signage
• Manages development, production, and distribution of promotional and collateral materials to support sales and marketing programs
• Analyzes marketing programs and adjusts strategy and tactics to increase effectiveness

 
QUALIFICATIONS:

• Bachelor’s degree in information systems, computer science, marketing, business, or a related field with coursework in information technology/systems
• 5+ years’ product marketing management experience in a software development technology-driven company
• 3+ years’ knowledge and experience in a marketing leadership role

Current Job-Value Structure
 
The following current positions at Endothon Company are listed based on pay rate from high to low:
 

 
* Benchmarked job
 
 
 
Product Sales Representative Job Description
 
 
TITLE: Product sales representative
REPORTS TO: Partners
JOB PURPOSE: The product sales representative cultivates new client relationships and expands existing relationships.
 
Responsibilities:

• Develops new streams of consulting revenue through new and existing sales channels
• Converts existing transactional business into long-term contract business
• Contributes to marketing efforts
• Builds and manages a sales funnel
• Works with marketing department on developing marketing plans specific to consulting services
• Represents company at industry trade shows and conferences
• Networks to develop new leads
• Effectively communicates verbally and in writing

• Possesses the ability to execute on initiatives
• Demonstrates proven track record of business development skills
• Demonstrates proven track record of successful account management
• Exhibits sound decision-making skills in high-pressure situations
• Possesses excellent follow-up and closing skills
• Effectively collaborates with other departments on key initiatives

 
Minimum Qualifications:

• Bachelor’s degree in business management or business administration
• 3+ years’ product sales experience
• 1+ years’ sales management experience
• Working knowledge of MS Office and associated applications required
• Ability to travel up to 50% of the year

 
 
Web links
https://www.bls.gov/
https://www.doleta.gov/business/
https://www.onetcodeconnector.org/
http://www.payscale.com/research/US/Country=United_States/Salary
 
                                   Template
 

1. Revise the following to include the three new positions and their salaries, as well as to show any changes to existing salaries.

 
A1.  Justify the placement and salaries of the three new positions.
1.
 
2.
 
3.
 
 

1. Using the 23 positions, create a pay grade and ranges table.

 
 
B1. Describe a strategy to address original salaries now found outside the proposed ranges.
Strategy:
 
 
 
 
 
B2. Justify your pay grades and ranges, commenting on attraction and retention strategies.

1. Recommend one distinct variable pay option for each of three pay grades, including a justification of why each recommendation would motivate individuals in that particular pay grade.   

 
Recommendation 1:
 
Justification 1:
Recommendation 2:
Justification 2:
Recommendation 3:
Justification 3:
References