Strategic Compensation
Timeline
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October 16, 2024Experience start
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October 19, 2024Client Kickoff Meeting
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December 7, 2024Client Presentations
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December 17, 2024Experience end
Timeline
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October 16, 2024Experience start
-
October 19, 2024Client Kickoff Meeting
Introduce students to the client and clarify the project’s goals and expectations.
-
December 7, 2024Client Presentations
Presentation to the client to summarize the project’s findings and recommendations.
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December 17, 2024Experience end
Categories
Compensation analysis Talent recruitment Employee retention Employee benefits Market researchSkills
writing systems compensation strategy market researchAre you experiencing a business challenge related to compensation, retention or total rewards? Bring on learners from the University of Lethbridge to develop a comprehensive compensation strategy. Over the course of seven weeks, learners will work in groups to analyze your current compensation practices, conduct market research, evaluate job roles, and design a strategic total rewards package. The project will culminate in a final report and presentation.
Learners will deliver a strategic compensation strategy both in written form, and as a presentation to the client.
Project timeline
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October 16, 2024Experience start
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October 19, 2024Client Kickoff Meeting
-
December 7, 2024Client Presentations
-
December 17, 2024Experience end
Timeline
-
October 16, 2024Experience start
-
October 19, 2024Client Kickoff Meeting
Introduce students to the client and clarify the project’s goals and expectations.
-
December 7, 2024Client Presentations
Presentation to the client to summarize the project’s findings and recommendations.
-
December 17, 2024Experience end
Project Examples
Students will gain proficiency in conducting SWOT analyses and market research, allowing them to evaluate how factors such as industry trends, competitor strategies, and economic conditions influence compensation decisions. They will learn to identify key
roles within an organization that drive success and how to tailor compensation strategies to support these roles.
By the completion of the project, students will be skilled in using job evaluation methods, such as the Point Method, to assess job roles. They will understand how to use these evaluations to develop fair and equitable pay structures that reflect the value of each position within the organization.
Students will become adept at collecting and analyzing salary survey data, benchmarking the client’s compensation levels against market standards, and identifying gaps or opportunities for adjustment. This will ensure that the compensation strategy is competitive and capable of attracting top talent.
Students will design a total rewards package that not only includes salaries and bonuses but also benefits and other forms of intangible rewards. They will understand how to align this strategy with the organization's goals and ensure that it supports talent attraction, retention, and high performance.
Timeline
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October 16, 2024Experience start
-
October 19, 2024Client Kickoff Meeting
-
December 7, 2024Client Presentations
-
December 17, 2024Experience end
Timeline
-
October 16, 2024Experience start
-
October 19, 2024Client Kickoff Meeting
Introduce students to the client and clarify the project’s goals and expectations.
-
December 7, 2024Client Presentations
Presentation to the client to summarize the project’s findings and recommendations.
-
December 17, 2024Experience end