Assignment 4: Compensation and Recognition
This assignment is organized into three parts. Parts A, B, and C are marked out of 100 and will count for 15 per cent of your final course grade.
The mark distribution is as follows:
|Part A: Employee Satisfaction||50|
|Part B: Salary Survey||25|
|Part C: Benefits Package||25|
Part A: Employee Satisfaction (50 marks)
In this part of the assignment you will design and administer an employee satisfaction questionnaire in order to assess the benefits package offered by your organization or an organization you are familiar with. You will follow a two-step process in completing this task.
Step 1: Research
The Minnesota Satisfaction Questionnaire (MSQ) and the Job Descriptive Index (JDI) are two widely-used and validated tools for evaluating employee satisfaction.
Go online to research these tools and other measures that can be used to evaluate employees’ satisfaction with their jobs and the benefits they receive. Using the information you find, design an employee satisfaction questionnaire that you can use to help gauge how satisfied employees in your organization are with their jobs and the benefits they receive as part of their compensation. The questionnaire should not have more than 12 questions.
You may wish to address new and innovative rewards or benefits systems that are gaining acceptance in the changing workforce, such as on-site daycare or eldercare provisions as part of a benefits package.
HINT: Use a rating scale or similar method to make your results easier to interpret. A “Likert scale” is a commonly used method. Resources can be found by visiting: http://www.socialresearchmethods.net/kb/scallik.php
Step 2: Survey
Using the questionnaire you designed in Step 1, survey three people at different levels in your organization or an organization you are familiar with. Find out:
- How satisfied these employees are with their job.
- How the benefits and rewards they receive contribute to their level of satisfaction.
- What they see as the most important rewards and benefits in the workplace.
Step 3: Evaluation of company benefits packages and your suggestions
Write a critique of how well you think the rewards and benefits packages offered at your organization serve to keep employees satisfied and what suggestions you would offer.
In your submission for this part of the assignment, include the following:
- The questionnaire you designed, as well as the results of the survey you administered.
- Your evaluation of the benefits packages offered at your organization and your suggestions for improvement.
Part B: Salary Survey (25 Marks)
Consider the Job Description that you developed in Assignment 2. Using material from the textbook and any other sources, determine what a suitable compensation or salary level you should assign. Your answer should incorporate the following:
- You will need to conduct surveys of salaries for similar positions (ensure that you reference the sources of your salary information). You do this by determining what other similar organizations are paying for a similar role.
- Does your organization want to pay at the low, midpoint, or high end of the salary range, which in the compensation industry is often represented as a percentile. For example, the organization may choose to pay at the midpoint or the 50th
- Are there any special aspects of the position that require you to adjust the salary level?
Part C: Benefits Package (25 marks)
Using material from any other sources, design a suitable benefits package for the position. Your answer should incorporate the following:
- What other benefits and rewards would you offer this person?
- Will benefits be optional or mandatory?
- What is your budget for employee benefits?