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A. Analyze the current total rewards plan using the information from the scenar
A. Analyze the current total rewards plan using the information from the scenario and the attached supporting documents by doing the following:
1. Identify three gaps in the Sparkit total rewards plan compared to the market offerings by analyzing the data in the attached ″Sparkit vs. Market Total Rewards Comparison″ and ″Exit Interview Data″ supporting documents.
a. Describe how each of the identified gaps from part A1 hinder achievement of the Sparkit organizational goal to improve retention.
b. Describe two areas in the Sparkit total rewards plan that are strong in comparison to the market.
B. Create a revised total rewards plan using the analysis from part A and the attached ″Sparkit vs. Market Total Rewards Comparison″ and ″Exit Interview Data″ supporting documents by doing the following:
1. Recommend a solution for each of the four topic areas (variable pay, recognition, well-being, and benefits) of the total rewards plan that the employee exit survey noted were reasons why employees are leaving.
a. Justify why each of the solutions from part B1 were recommended to help achieve the organizational goal of retention. 2. Describe a plan for how $4,000,000 should be allocated among the total rewards offerings for the first year and how the remaining $4,000,000 should be allocated in the second and third years based on the solutions recommended in part B1.
3. Create a communications plan for the new total rewards plan created in part B1 by doing the following:
a. Describe how the new total rewards plan will be initially introduced to the employees. b. Describe three methods that will be used for routine, ongoing communication throughout the year for reinforcement of the new total rewards plan.
1. Provide an executive summary introducing the new total rewards program and describing the recommended solutions from part B1.
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