1. Design an ORIGINAL total compensation plan for DISCOVER FINANCIAL SERVICES. The plan must include ALL of the following:
a. An overview of DISCOVER FINANCIAL SERVICES, including the nature of its business, location(s), and the number of employees.
b. A brief discussion of the DISCOVER FINANCIAL SERVICES overall business strategy and organizational culture.
c. An organizational chart representing the hierarchy or levels in DISCOVER FINANCIAL SERVICES. Identify the benchmark positions on the chart.
d. DISCOVER FINANCIAL SERVICES broad compensation strategy. List the internal and external factors affecting the strategy.
e. A detailed total compensation plan in terms of monetary and non-monetary compensation components. Include the following:
i. Base pay structure (grade/band using the benchmark jobs and point method. Provide survey sources and Point Method in an appendix).
ii. Job hierarchy (attach sample benchmark job descriptions in an appendix).
iii. Different job levels or employee groups and their total compensation components.
iv. Variable pay examples such as bonus, team and individual incentives and methods used or type of plans.
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v. Performance evaluation method and its use (e.g., merit pay, bonuses, incentives, employee development). If you have an example of a performance appraisal, include it in an appendix.
vi. Various employee benefits for different employee groups.
vii. Long term incentives and executive pay plan, if any.
viii. Non-traditional reward programs (e.g. employee recognition, work-life balance efforts).
f. The cost to the organization for the implementation of the plan.
g. An overview of how you will implement and communicate the plan.
2- Include at least 8 resources of which at least 5 must be academic resources. Format the paper according to the Academic Paper Guidelines. BE SURE TO USE HEADERS for each paragraph.
3- explain how the plan;
i. Aligns with the organization's vision, mission, and business strategy.
ii. Is effective in attracting, motivating, and retaining employees.
iii. Is competitive with others in the industry.
iv. Is compliant with local, state, and federal laws and regulations.
v. Is cost-effective