Company’s relative distribution of compensation components.
The final version of your entire project is due at the end of this module. This version will include revisions based on instructor feedback to Milestones One and Two.
Note: The final project also includes a new pay mix section, below. This is not included in Milestones One and Two and must be completed prior to submission.
Pay Mix: A pay mix is a company’s relative distribution of compensation components such as base pay, merit, incentives, benefits, etc. (Gerhart & Newman, 2020). Different job grades may have different pay mixes. For example, executives often have a higher percentage of long-term incentives. Pay mixes are often illustrated in a pie chart. Below is an example of a pay mix pie chart. Note: numbers used are not from the data in this case study.
Create a pay mix for each job family, illustrated in a pie chart. Provide a rationale for each pay mix, connecting your decision to the company’s strategic goals. In addition, provide at least three examples of employee benefits you recommend the company propose in their total compensation package. Refer to the Add a Pie Chart resource in this module’s Reading and Resources section if you have not created a pie chart using Excel data.
To complete this assignment, read the Final Project Guidelines and Rubric document for detailed information on the requirements for this project.