Background
You are working for a start-up Boutique Hotel Chain preparing to launch in five locations across the country. These new hotels are currently under construction in Manhattan, Chicago, Miami, Houston, and Los Angeles, and are expected to open in about five months.
The hotels are small, 50 to 100 rooms depending on the city, and luxurious. The hotels will appeal to a select clientele. The marketing approach taken by the hotels is being defined but is not part of this assignment.
The CEO of your new organization believes in a very collaborative approach to management. She also believes that everyone in the organization should typically working on stretch assignments. You are the first to receive this stretch assignment, which is the Course Project.
Process
You are to develop a recommendation for compensation packages for soon-to-be employees of the five hotels. The CEO has not been very clear about how the hotels will be staffed, figuring that the team can figure out what the positions would be, leaving the number of employees in each position to be determined.
She has directed that she wants the hotel staff compensation to be higher than average, maybe in the top 25 percentile. She also wants the compensation to be adjusted for the local cost of living. Everyone's compensation is to have some bonus potential based on the profitability of the location at which they work.
Assignment
Although there could be several positions in a hotel, you will need to concentrate on three positions that you deem most important to run to run the hotels. You are to develop a plan for total compensation of these three required positions--not just salary.
Your Course Project assignments consists of two Parts:
Part 1 Project Plan
Research some ways of developing compensation plans. There is some good material on this in Chapter 7 of our text. A good example can also be found at the Society for Human Resource Management.
Develop a strategy and plan for conducting the final recommendations due in Week 7. Establish an outline for the paper and include 2 scholarly sources that you can use in the final project.
Part 2 Compensation Plan Recommendations
The second deliverable for this project is due Week 7. Submit one Word document that consists of a report addressed to the CEO. The report is to contain:
1. A description of the project.
2. The methodology that was used to complete the project.
3. Job descriptions for your three chosen positions.
4. The results of a compensation survey you conducted using sources available on the internet.
5. How your recommended compensations were calculated, including averages, adjustments for locations, and adjustment to create packages that were in the top 25% of industry compensation packages.
6. Conclusion
The report should be about 10 to 12 pages long. Follow proper APA style/citations, grammar and punctuation, and so on. A minimum of 4 scholarly sources from outside of our class should be used.