Describe a work-related situation you feel could be improved. For example, you want to streamline the process for reimbursing employees, or you want to create a high-tech website for your small business but have no experience in programming or graphic creation.) Once you have determined your project, consider the following:
Identify the needs of the situation?
What is the project objective?
What assumptions, if any, should be made regarding the project to be undertaken?
Who are the main people or departments that need to be involved in this project?
What are the risks involved?
Why would your project be considered a project?
Prepare a short proposal (2-4 pages) for the project, as if you were a consultant bidding on the job. Be sure to incorporate what you learned in this unit's reading.
Streamline the process for reimbursing employees.
THIS IS A PROJECT BECAUSE:
1. It is time bound.
2. There is a fixed objective.
3. The compensation package is not streamlined on a regular basis.
4. There is a starting point of the streamlining process and an ending point.
5. After the streamlined package is accepted, the project will be deemed closed.
Our company has several Electrical Engineers and they are receiving compensation that is not uniform. This is how we intend to address fresh entrants to our company. We are pleased to offer you the position of Electrical Engineer with our firm.
The compensation package to you is as follows. You will get a base annual salary of $65,000. In addition, you will get a relocation allowance of $15,000. You also qualify for the other benefits that are available to the company's employees. The reason you have been given this base salary is that your salary in Texas is $40,000. We added the mandatory 25% increase in salary and that makes the basic pay $50,000. In addition, we have factored in the fact that the salary level in Illinois is 20% above what electrical engineers get in Texas. Also, we added another $5,000 per year to compensate for the hardship you would undergo in relocating. This is in addition to the upfront payment of $15,000 you will get as relocation allowance. Usually, this amount is sufficient for housing location and payments that you will need to make.
The other benefits in accordance to the rules of the company include: Annual Leave, Medical Leave, Hospitalization Leave, Maternity Leave, Marriage Leave, Paternity Leave, Child Sick Leave , Compassionate Leave, Time-off to sit for Exam, Maternity Expenses, Marriage Gift ,Newborn Gift , Medical Check-up Subsidy, Health Screening Subsidy , Housing/Renovation/Vehicle Loans, Long Service Gift and Dependant Benefits. You qualify for the benefits that a person of your qualification, experience and position would normally get The details of the benefits plan are attached in the benefits package with this proposal. Please go through these.
You also qualify for the Incentive plan for the employees that qualifies you to participate in the following performance based awards.
Individual performance Award, Intellectual Property (IP) Rewards , Group Achievement Reward (GAR), Group Performance Award (GPA) Special Recognition Award (SRA). These have been mentioned because these awards are open to engineers including electrical engineers in our company. These awards are available to executives of your level in our company.
You also qualify for our performance based bonus plan where the middle level performance brings in a top bonus equivalent of 20% of the yearly base salary. The details of the performance based incentive scheme are given below.
There may be non-monetary benefits that you want to evaluate when making a decision. What type of rewards, besides salary, are you looking for in a job? For example, does the position provide long-term security? Does the work give you the creative outlet you need? Do you see yourself getting promoted within the company? All of these factors should play a role in your decision making process. Good salary package is more than just a paycheck. There are many benefits that our company will offer to expand the size of the total compensation pie.
THE NEED OF THE SITUATION:
There are several electrical engineers who have just joined the company from Texas and they are uncertain as to the compensation package they will receive:
The compensation package to Electrical Engineers is as follows. ...
The solution provides detailed explanations and answer for the problem.