BUS 307 Compensation & Benefits Final Project THE TOTAL PACKAGE A new business is starting and you have been tasked with creating a Compensation and Benefits Program for the new employees. The company will have 1200 employees and a CEO consisting of the following positions: Comp_Final_Project2016_JobsChart.jpg This new business is created by a former high-level executive of an international conglomerate who believes there is a need and opportunity in the market for this lower cost product. He needs experienced, take-charge people who can get the business running quickly without training. He plans to expand the business within the next (5) years as profit is produced. You have been given a budget of $12 million to create the total package. You will create a PowerPoint presentation with fully written out details in the Notes section of each slide or a voice over to explain each slide with the following information. In addition to addressing each item, it is imperative you assign a cost to each category (salaries, CEO package, and benefits) and stay within budget. Company name and product sold. Be aware you have manufacturing employees so your business type needs to account for this. Do not spend a lot of time on this. It is just to give your work context (the circumstances surrounding your building your Total Rewards structure) State your total rewards philosophy. Are you going to pay below, at, or above market in wages? What benefits, if any, will you offer and how does it tie to the business objectives (grow fast, hit the ground running, go public in 5 years)? Be specific so the audience can decide if they want to and can afford to work for you. Create salary ranges. Drawing on what you learned about how to find salary data in Week 1, locate credible sources and create a salary range for each group of positions above. Explain your reasoning for the rates including why you chose the sources you used. Total the salaries for each group of positions and factor in the additional salary-related mandated employer costs (FICA, Med, Federal Unemployment tax, State Unemployment tax, workers compensation insurance). You will learn about these non-discretionary benefits in Week 4. Create an Executive (CEO) package. Use your research from Week 1 on Executive data to come up with a competitive package consisting of both wages and benefits. Dont forget to check out what the competition in your product industry is doing! Use what you learned in Week 3 about executive interests and pressures to include creative solutions for work-life balance. Create a benefits package that complies with the Affordable Care Act and state how much your company will contribute, if any, towards health insurance premiums. If your company doesnt offer insurance, be sure to factor in the costs of that choice as well. Itemize what you are offering and assign a cost to each item with support from your research. Estimate costs backed by research for salaries, benefits and the CEO package items and stay within budget