Fastcat

In: Business and Management

Submitted By gavi99
Words 5111
Pages 21
FASTCAT PHASE II
MNGT 433-Compensation & Benefits

4/22/2014
Logical Thinkers Consulting Company
Damian Malagari
Kerry Ahearn
Melissa Hekl
NgoanPhan
Chau Tran

Table of Contents EXECUTIVE SUMMARY 3 RECOMMENDED STRATEGY FOR EXTERNAL COMPETITIVENESS 4 Best Alternatives for FastCat 4 Pay Level and Mix of Forms 4 Integrating the External and Internal Structure 5 Preliminary Ideas 5 SURVEY DESIGN OF TOTAL COMPENSATION OF FASTCAT’S COMPETITORS 6 Selecting Benchmarks and Matching With FastCat Jobs 6 Selecting Competitors in FastCat’s External Market 6 Analyzing the Data: Deciding What Forms to Compare 7 Analyzing the Data: Adjusting for Aging 11 Evaluating the Regression Line and the Fit Between FastCat and the Market 15 FASTCAT’S PAY POLICY LINE 19 INTEGRATING INTERNAL AND EXTERNAL STRUCTURES 20 Bands and Zones 20 Overlapping 21 EVALUATING THE RESULTS 21 Description of Analysis 24 FastCats’ Strategy and Rationale to Lag Pay Levels 25

EXECUTIVE SUMMARY
Our Proposal for FastCat’s compensation system in Phase II focuses on the base pay as well as providing incentives. In order to maintain its competitiveness in the industry, FastCat should lag the market. They must ensure their pay structure is strategically differentiated within the marketplace. The appropriate pay structure and compensation plan will help FastCat strengthen employee retention and increase productivity through incentives, rewarding performance, and employee engagement. FastCat’s success will be determined by its ability to balance the pay structure with firm profitability. We recommend FastCat use bands and zones because of the goal established in Phase I to be a more egalitarian organization.

RECOMMENDED STRATEGY FOR EXTERNAL COMPETITIVENESS
Best Alternatives for FastCat
When determining a new compensation strategy for FastCat, we decided the…...

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