Emerging Pharmaceuticals: Total Rewards
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Emerging Pharmaceuticals and Medtronic Comparison Case Study
D. Determine areas of misalignment, differences, and gaps present in the current benefits and compensation system, based on the external benchmarking data. What are the key areas of the current system that are misaligned with the competition?
E. Based on the strengths and weaknesses of each plan, determine Emerging Pharmaceuticals rewards components that should be increased, reduced, or stay the same, and provide your rationale.
F. Compare qualitative input data and quantitative analysis with the organization's employee demographic data to determine the degree of the existing population that will be affected by the proposed changes. In other words, what is the overall impact of each proposed change?
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Analysis of total rewards of Emerging Pharmaceuticals is discussed in a structured manner in this response. The related reference is also provided.
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D. The areas of misalignment, differences, and gaps present
The areas of misalignment are that the working hours are too long, the prospects for career development are low because management positions require a degree and tuition is very low, and there are safety hazards in the workplace. Also, the working spouse surcharge is steep, there is a lack of voluntary benefit options, and the paid time off is very low. Also, there is no reward for employees who have done better than normal work. There is further misalignment at Emerging because of high employee turnover and because capable employees have left the company (1).
Further, there are differences and gaps in compensation for every category of employees. For scientists, Emerging pays an average salary of $98,500 whereas Medtronic pays an average salary of $108,900. For research analysts, Emerging pays an average salary of $76,000 whereas Medtronic pays an average salary of $86,547. For clinical specialists, Emerging pays an average salary of $69,000 whereas Medtronic pays an average salary of $78,000. For IT Developers Emerging pays an average salary of $90,000 whereas Medtronic pays an average salary of $95,370. For Non-clinical managers, Emerging pays an average salary of $54,000 whereas Medtronic pays an average salary of $61,750. For clinical managers, Emerging pays an average salary of $100,000 whereas Medtronic pays an average salary of $105,000.
Some other gaps are that Emerging had not put its 401(k) plan in retro funding, there is no paid time off the bank for ...
Education
- BSc , University of Calcutta
- MBA, Eastern Institute for Integrated Learning in Management
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