Posted: June 12th, 2015

Employees’ Compensations and Benefits Package

Employees’ Compensations and Benefits Package

Introduction

In a company project, project charter has consideration of the statement of objectives. The statement is expected to state the project goals, responsibilities, and roles played. As well, it makes identification of the key project stakeholders with the authority level of the project manager. Hence, it offers a sign for the future of other related projects within the firm with consideration of being essential in the business management system. Project charter tends to be short with detailed information that does contain the request for proposals (RFP). Moreover, the project charter is an important document that is used in project management (Norman, et al 2011).

Project Charter

Situational Analysis

I head the human resource in my company. We wish to refit compensations and the benefit scheme of the employee. By overhauling the compensation program, employees are expected to become more productive and efficient in a manner in which will fit the current working conditions and environment. The current situation within the company is that, there is lack of employees direct compensation system and the company overall compensation package has been below the national expected standards set under labor laws. The company recently introduced a staff bonus scheme that do target rewarding and recognizing of the employee best performance and motivating the company workforce (Berber, et al 2012).

Taking into account the significant reward and the compensation scheme, it will have to consider the opportunities that are part of employee recognitions within the organization level toward good performance and enlarging the year winner cycle. In addition, the scheme is expected to be instrumental to the company since it will have to account for quality performance with enhanced employee motivation and morale toward achieving company mission, vision and core values (Norman, et al 2011).

Purpose Statement

The purpose of the project is to come up with a charter that will assist the organization to overhaul the employee’s compensation and the benefit packages. The new employee compensation and benefit package will be expected to have the capacity of recognizing individual employee’s effort and motive toward the company with support to the mission, vision, and values.

Goals

• Creating a reward and a recognized program that will be visible, sustainable and in line with the one applied within the industry and engage all staffs in a way that;

• Offer support that is positive with consideration of the working environment
• Motivate the staff to achieve higher performance capacities
• Ensuring there is direct contribution to achieve success of the organization overall goals and values

• Compensation plan will have to account for the employee feedback that will offer directives on the function of the compensation and benefits set.
• Create category of the desired results with scaled performance and the company may achieve better ways that will introduce the new benefits and the compensation scheme.
• Create manageable compensation and benefit scheme that is easy to adjust basing the aspect on available resources.

Deliverables

• Set plans and recommend the best compensation and benefit scheme that will contribute toward accessing continuity, equity and be in line with the competency and performance within the organization.
• Considering the organization policies, values and the performance record with definition of eligibility aspect for the new compensation and benefit scheme.
• Develop scheme that is flexible mainly to adopt within the firm differentiated departments within the entity.
• Integrate crucial values in the organization level with affordability to the new scheme.
• Finally, make sure it operate as sponsor on the conduct and completion of the compensation and benefit scheme (Saussy & Tacchino, 2004).

Guidance and Plans of the Scheme

The company benefits and compensation scheme will have:

• The scheme will have a spotlight mainly on the company employee’s results and competencies level rather that considering individual personalities and reputation.
• The system will consider the objective such as creating highlight on the liberal benefits and the top employee’s salaries.
• The company governance and the scheme design will account for the benefits and compensation levels.
• The scheme will have to be consistent with the labor unions laws and committed toward improving the safety within the workplace.
• The company will have to make consultation with staff representatives and the union leaders with an aim of coming up with the best efficient policy agreement.
• The scheme will evaluate and incorporate employee’s medical care and wage replacement benefits.
• The company will evaluate the rehabilitation requirements with an aim of incorporating the rehabilitation services within the new scheme.
• As effective staff benefit and compensation scheme, it will have to review all legal standards to ensure it is valid. There are expectation that it will adhere with the regulations to make sure the scheme will not face lawsuits (Watkins, 2012).

Scope

The company new benefit and compensation system will have to ensure there is a link created among some other effective schemes that are set within the human resource division. The linkages of the company involve the performance management, reward, and recognitions. During the implementation process, the team will be expected to report the development to the person heading the human resource division, project sponsor and the company management board. However, I am the person who is in charge of the division; I am available to assess the project progress. The team will be expected to hand over the results and recommendation of the project to the organization management (Ellis, 2013). In addition, the team will have to issue anticipated fiscal budget recommendations. Management and I are ready to offer support to the team. This will ensure that the team will achieve its objectives and goals within the given period.

Team Members

Sponsor- Board of Directors

Manager- Dawn Badger

Facilitator- Jameson Whitney

HR consultant- Willie May

Advancement- Linda Marley

Dining- Maria Lepsonky

Information Service- Smith Jones

Admission- Wilfred Kennedy

In this case, the manager will act as the team leader and some of the roles to observe are:

• Make sure that the project is completed within the given time limit
• Ensure that sponsors and management of the firm and the new benefit scheme will attain their expectations and service all employees
• Organize the team while engaging them in decision making process

Roles of the team member will include:

• Setting pledge with loyalty and aim of making sure there is achievement of the set goals within the time limit given
• Ensure there are flexible shifts and better working hours

Schedule

The team will initiate the project on:

June 1, 2015

The charter is expected to give an outline of the project outcomes while

Sponsor to articulate the goals and objectives of the benefits and compensation scheme

July 6, 2015

The team will have to meet with the company management and the project sponsors to take a review, adapt and approval of the charter. It is during this month, the team will be expected to outline the project scope.

July- October 2015

The team will have to evaluate the present expected results and recommendation of the scheme to the project sponsors and the company management

November 30, 2015

The team will have to submit the results and the expected recommendations of the scheme to project sponsor and company management

Communication Plans

The team leader and the members need to be conscientious on the present periodic reports and the communication made to the project sponsors. As well, the team will have to communicate on the progress of the project with the company deliverable to the managers. The sponsor, team, and the management will have to set time where there will be periodic submission on the report (Saussy & Tacchino, 2004).

The team members with the project sponsor on daily basis will verify it. They will have to help in communication and timing for related information. There will be frequent update on information.

Direct Compensation $38392.16

On the job, pay $33401.20

Base Wages $30,000. 50

Overtime $550.00

Company Education $1,400.20

On-call $0.00

Add-on Earnings $0.00

Clinical Ladder $1450.50

Sub Total $33401.20

Paid Time off $4990.96

Holidays $0.00

PTO $1,543.00

Jury Duty $100.00

Bereavement $3, 347.96

Sub Total $ 4990.96

Direct Compensation $38382.16

Other benefits $8677.95

Profit sharing $660.00

Dental $0.00

Vision $100.00

Disability compensation insurance $400.00

Education Reimbursement $0.00

401(k) $4,300.00

Life Insurance $68.00

Medicare $559.95

Social security $245.00

HSA $0.00

Employee Assistance Program $1,345.00

Appreciation $250.00

Flexible Expenditure Account $750.00

Other benefits total $8677.95

Total compensation package $47,060.11

The direct compensation accounts for the monthly salary that is given to an employee. Employee’s direct compensation may include the company training, overtime pays among others. Paid offer indicated the essentiality of issuing a leave program that has support to personal life and working. It account for holidays, bereavement and the PTO.

Work Breakdown Structure

Work breakdown structure account for 100 per cent of the work that is required in completing the benefit and compensation scheme. However, every constituent represent a sole premeditated.

		Duration	Predecessors
1	Project Initiation
1.1	Developing situational analysis	6 days	1.1.1
1.2	Developing plans goal	3 days	1.1.2
1.3	Developing deliverables	8 days	1.1.3
1.4	Developing plans and guidance of the process	3 days	1.1.4
1.5	Developing scope	7 days	1.1.5
1.6	Developing schedule	8 days	1.3
1.7	Developing communication plan	10 days	1.1.7
1.8	Developing endorsement statement	12 days	1.8
2	Project execution	23 days
2.1	Analysis Phase	10 days	2.1
2.2	Design Phase	12 days	2.1
2.3	Validation Phase	8 days	2.3
2.4	Deployment phase	19 days	2.4
2.5	Completion Phase	4 days	2.5
3	Project Closeout	1 day	3.1.1

 

 

Reference list:

Berber, N., Pasula, M., Radosevic, M., Ikonov, D., & Vugdelija, V. K. (2012). Internal Audit of Compensations and Benefits: Tasks and Risks in Production Systems. Engineering Economics, 23(4), 414-424.