Objective: Compensation packages come in many forms; some organizations offer higher pay and lower benefits while others offer generous benefits with lower pay. Nearly all organizations say they offer “competitive pay” but what does this really mean? Total rewards packages often closely link to an organization’s business goals. Paper length 5+ pages.
- Select two companies from different industries to research. Use the internet to learn about these companies, their culture, and their reward systems.
- Draw conclusions about the reward systems, specifically compensation, benefits, and total rewards levels of the two companies. If you are unable to find specific pay information, hypothesize what their pay systems and levels might be based on.
- In your paper, include the following:
- Names and geographic area
- Brief description of the business and business drivers
- Brief description of the compensation philosophy/strategy of the business
- Explain your rationale for any similarities/differences of the rates of pay (including benefits, etc)
- How similar or dissimilar is the business environment and what impact might this have on the way the reward systems are designed?
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