For the final project, you will analyze Emerging Pharmaceuticals in order to evaluate and revise the company’s current total rewards system. You will utilize the information presented in the case study to compare and contrast the organization’s total reward system with external benchmarking data. You will also analyze the data for gaps and make revisions to the existing compensation and benefits package. The information you are provided with will be based on a specific aspect of benefits and compensation package (retirement benefits, medical benefits, and so on). You must also create a presentation to stakeholders that explains the proposed changes, your rationale behind the changes, and the implications of the changes for the organization.
For Milestone Two, you will prepare a draft of Parts D–F of your total rewards analysis (Section I of the final project). The submission will have the major heading “Total Rewards Analysis: Parts D–F.” Your instructor will grade your submission using the rubric below and will provide feedback you can apply to your final project. Begin by analyzing qualitative and quantitative data for the current system (as identified in the case study and the provided supplements) that will inform your future recommendations and revisions. Once your analysis has been completed, compare and contrast the provided quantitative data regarding the current benefits and compensation system with external benchmarking data from Medtronic, an organization within the same industry. Then draft Parts D–F of your analysis. Thoroughly cover each of the critical elements, and include your answers to the guiding questions.
Specifically, the following critical elements must be addressed:
I. Total Rewards Analysis: For this part of the assessment, you will analyze given aspects of a total rewards package from the provided case study. You will analyze qualitative and quantitative data regarding the current system and determine gaps in that system that will inform your future recommendations and revisions.
D. Determine areas of misalignment, differences, and gaps present in the current benefits and compensation system, based on the external benchmarking data. What are the key areas of the current system that are misaligned with the competition?
E. Based on the strengths and weaknesses of each plan, determine Emerging Pharmaceuticals rewards components that should be increased, reduced, or stay the same, and provide your rationale.
F. Compare qualitative input data and quantitative analysis with the organization’s employee demographic data to determine the degree of the existing population that will be affected by the proposed changes. In other words, what is the overall impact of each proposed change? Rubric
Guidelines for Submission: This milestone should be 3 to 4 pages in length (in addition to a cover page and references) and should be submitted as a Microsoft Word document with double spacing, 12-point Times New Roman font, and one-inch margins. Use at least three sources, which should be cited according to APA 7 style.