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Compensation and Reward Strategy - Summer 2023

MGMT6044
Closed
Fanshawe College
Fanshawe College
London, Ontario, Canada
Rupinder Gill
Rupinder Gill
Professor of Human Resource Management
(1)
3
General
  • Post-graduate
  • 100 learners; teams of 4
  • 25 hours per learner
  • Dates set by experience
  • Learners self-assign
Preferred companies
  • 1/1 project matches
  • Canada
  • Academic experience
  • Any
  • Any
Categories
General Employee benefits Compensation analysis Organizational structure Employee retention Workplace health/wellness
Skills
labour market data analysis
Project timeline
  • May 15, 2023
    Experience start
  • May 20, 2023
    Project Scope Meeting
  • August 12, 2023
    Experience end
Overview
Details

Looking to elevate your organization, and bring it to the next level? Bring on students from Fanshawe College to be your student-consultants, in a project-based experience. Students will work on one main project over the course of the semester, connecting with you as needed with virtual communication tools.

Students in this program will develop an understanding of the process, issues, and techniques involved in developing a compensation system. Students will learn both the theoretical and applied aspects of the compensation function; develop and recommend strategies that link the compensation function to the goals of the organization; as well as develop and recommend compensation and reward systems that are necessary to attract, retain and motivate the required workforce.

Learner skills
Labour market data analysis
Deliverables

Deliverables are negotiable, and will seek to align the needs of the students and the organization.

Some final project deliverables might include:

  1. A 10-15 minute presentation on key findings and recommendations
  2. A detailed report including their research, analysis, insights and recommendations
Project Examples

Students in groups of 4-5 will work with your company to identify your needs and provide actionable recommendations, based on their in-depth research and analysis.

Project activities that students can complete may include, but are not limited to:

  • Developing and recommending an effective compensation and reward plan to the organization.
  • Researching and analyzing the cost benefits that a reward and compensation plan has on an organization.
  • Recommending cost containment in regards to the compensation strategy
  • Developing base pay, performance pay and indirect pay systems in accordance with organizational goals. 5.) Design and develop a base pay structure, including pay grades and pay ranges using information from a job evaluation.
  • Conducting a market survey and analyze the results.
  • Making recommendations in relation to internal/external equity in regard to the compensation system.
Additional company criteria

Companies must answer the following questions to submit a match request to this experience:

A representative of the company will be available for a pre-selection discussion with the administrator of the course to review the project scope.

A representative of the company will be available to answer questions from students in a timely manner for the duration of the project.

The representative should provide the required information to complete the project.