Emerging Pharmaceuticals: Compensation and Benefits
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Analyze Emerging Pharmaceuticals in order to evaluate and revise the company's current total rewards system. You will utilize information presented in the case study to compare and contrast the U.S. organization's total reward system with external benchmarking data. You will also analyze the data for gaps and make revisions to the existing compensation and benefits package. The information you are provided with will be based on a specific aspect of a benefits and compensation package (retirement benefits, medical benefits, and so on). You will also create a presentation to stakeholders that explains the proposed changes, your rationale behind the changes, and the implications of the changes for the organization.
A. Analyze the issues or concerns of employees through a review of the qualitative data presented in the case study, for their validity and importance. Be sure to consider the needs of different demographics of employees within the organization.
B. Determine the key issues or concerns of employees that should be targeted and addressed, based on the provided qualitative data. Justify your response. What issues or concerns should be targeted and why? Why should other concerns be made less of a priority? You could consider the underlying reasons behind the issues voiced by employees.
C. Compare and contrast the provided quantitative data regarding the current benefits and compensation system with external benchmarking data from the provided Medtronic data to complete your response. What does the current system have that other organizations do not? What do other organizations offer that the current system does not? Be sure to justify your response.
Case: Emerging Pharmaceuticals and Medtronic Comparison
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Solution Summary
Benefits and compensation at Emerging Pharmaceuticals is discussed in a structured manner in this response. The related reference is also provided.
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A. Issues or concerns of Employees:
The employees feel that they work long hours, almost eleven hours every day, and they spend a long time commuting to work. Also, the employees feel that moving up in the organization is very difficult, management positions require a degree, and tuition reimbursement is very low, not enough to study and get a degree. Further, there are health hazards in the lab and the work environment in the lab is not safe. The working spouse surcharge for health insurance, the health coverage is not adequate and $50 has to be paid towards the spouse surcharge. The employees also complain that there are no voluntary benefit options, the pension plan does not have matching payments by Emerging Pharmaceuticals, and there are no good rewards. The employees are also dissatisfied with paid time off. (1) The paid time off, becomes 18 days after 10 years of employment, making it inadequate. Also, there is no sick leave after 10 years of employment. Whenever an employee makes an extra effort it is not considered by the supervising managers. Also, employee turnover is increasing because of low pay.
B The key issues or concerns of employees that should be targeted and addressed'
Real safety hazards in the lab: This issue must be addressed immediately because Emerging must provide a safe work environment to its employees.
High employee turnover because of low pay: This issue must be addressed immediately because higher turnover increases the costs of ...
Education
- BSc , University of Calcutta
- MBA, Eastern Institute for Integrated Learning in Management
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