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Strategic Compensation

HRLR3312
Closed
University of Lethbridge
University of Lethbridge
Lethbridge, Alberta, Canada
Shawna Boyko
Educator
3
Timeline
  • October 16, 2024
    Experience start
  • October 19, 2024
    Client Kickoff Meeting
  • December 7, 2024
    Client Presentations
  • December 17, 2024
    Experience end
Experience
1/1 project matches
Dates set by experience
Preferred companies
Canada
Small to medium enterprise
Any industries

Experience scope

Categories
Compensation analysis Talent recruitment Employee retention Employee benefits Market research
Skills
writing systems compensation strategy market research
Learner goals and capabilities

Are you experiencing a business challenge related to compensation, retention or total rewards? Bring on learners from the University of Lethbridge to develop a comprehensive compensation strategy. Over the course of seven weeks, learners will work in groups to analyze your current compensation practices, conduct market research, evaluate job roles, and design a strategic total rewards package. The project will culminate in a final report and presentation.

Learners

Learners
Undergraduate
Intermediate levels
30 learners
Project
20 hours per learner
Educators assign learners to projects
Teams of 5
Expected outcomes and deliverables

Learners will deliver a strategic compensation strategy both in written form, and as a presentation to the client.

Project timeline
  • October 16, 2024
    Experience start
  • October 19, 2024
    Client Kickoff Meeting
  • December 7, 2024
    Client Presentations
  • December 17, 2024
    Experience end

Project Examples

Requirements

Students will gain proficiency in conducting SWOT analyses and market research, allowing them to evaluate how factors such as industry trends, competitor strategies, and economic conditions influence compensation decisions. They will learn to identify key

roles within an organization that drive success and how to tailor compensation strategies to support these roles.


By the completion of the project, students will be skilled in using job evaluation methods, such as the Point Method, to assess job roles. They will understand how to use these evaluations to develop fair and equitable pay structures that reflect the value of each position within the organization.


Students will become adept at collecting and analyzing salary survey data, benchmarking the client’s compensation levels against market standards, and identifying gaps or opportunities for adjustment. This will ensure that the compensation strategy is competitive and capable of attracting top talent.


Students will design a total rewards package that not only includes salaries and bonuses but also benefits and other forms of intangible rewards. They will understand how to align this strategy with the organization's goals and ensure that it supports talent attraction, retention, and high performance.