External Job (Market) Alignment, Benefits and Project Summary

1) Job Case 3 – External Job (Market) Alignment, Benefits and Project Summary – 30 (thirty points) – 3-4 Pages – Due June 17th by 11:00 p.m.
a) Find out how the job fits into the external or market structure (i.e. detailed salary, benefits, etc.) Discuss how your subject’s compensation and benefits compare to the market rate from a salary and benefits package perspective. This is basically a market pricing exercise where you will take the information provided to you by the Interviewee and compare their information to what is available for that specific position via the market and sites that were provided for the earlier compensation comparison exercise:
• What information did you gather, and how, to describe their place in the market?
• Conduct outside research to support your analysis and make sure to cite appropriately. Again, include any supporting documentation used in your analysis with this step, including citing internet resources used.
• What sources did you use to determine market rate and market pricing?
• NOTE: If you are interviewing an immediate family member, they may be unwilling to share exact specifics of their compensation; this is understandable and acceptable. You will still need to market price the position and then ask them if their salary lags, meets or leads the market.
b) Ask your subject to describe the benefit and pay mix at their place of employment. For example, do they have multiple health plans to choose from, relative contribution of the employer/employee for various benefits, retirement plans, childcare, incentive pay, etc… In your interview, try to identify all of the relevant features of the benefit. For example, for a retirement/pension plan (if there is one) include the precise type of plan, eligibility, vesting retirement age, any supplemental plans, the relative financial strength or experience of the plan, investment options, and other design issues. If there is no pension plan, what options exist-detail these options, e.g. does the employee have a 401(k) and what is their contribution level; is there an employer match, etc. Discuss the organization’s vesting schedule. Be sure to discuss key benefits such as life insurance, tuition assistance, PTO, wellness, etc.
• If relevant, describe the role that membership in a union might play in this analysis.
• Describe how the subject, as well as you, perceive the benefit and pay mix considering the previous steps completed (e.g. place in the internal structure and external market.) Would you say that the compensation and benefits packages lag, match or lead the market? Is the answer different for compensation than it is for benefits?
• Include any supporting documentation or research used in your analysis.
c) If you wish, you may also address if and how recent market conditions impacted their overall total compensation package

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