Compensation and Benefit Plans
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 $150,000 and benefits that equal 40% of the salary
3 additional executives (senior management) with a combined base salary of $300,000 and each receives benefits that equal 35% of the salary
6 middle management personnel with a combined base salary of $420,000 and each receives benefits that equal 30% of the salary
10 first-line supervisors with a combined base salary of $500,000 and each receives benefits that equal 25% of the salary
150 non-supervisory employees with a combined base salary of $4,500,000 with an average individual salary of $30,000 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:
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 or 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.
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