Milestone One: Benefits and Compensation Analysis
Lilia Sandoval
Southern New Hampshire University
Course: OL-620 Total Rewards
Linda Jenkins
June 26, 2022
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Milestone One: Benefits and Compensation Analysis
Issues Or Concerns
Emerging Pharmaceuticals is struggling to retain its employees and losing them to the
competitor, Medtronic. Ages 31-50 make up most of the age group in the company totaling
15,000 employees, 7,042 of them being females. Given this information alone we know that
majority of the employees will most likely have a family and will need proper healthcare.
Talented workers have options, and they increasingly want to work for companies that
demonstrate a commitment to supporting their employees' commitments and family lives
(Keeling, 2016). Some options are getting home on time for dinner, having a safe work
environment, having more personal time off (PTO), raises, and having good health insurance.
Many of these options are also wanted from the employees at Emerging Pharmaceuticals.
Employees submitted feedback on what was needed to improve in the workforce. Some
of the feedback was having more time with family, being rewarded for their talent, better
insurance options, better pension plan, and safety. Considering that 47% of full-time and 74%
part-time of workers are women, from the age range 31-50 improving their healthcare, increase
in PTO, and rewarding their talent will help retain our female employees.
Key Issues
Thinking from the perspective of a Total Reward Director all these factors mentioned in the
issues and concerns are important and must be addressed. Starting with the top-rated
categories the market pays for positions and working remotely employees marked both these
categories as 10% important. One way to higher the company's retention rate will be by
increasing the average pay for all the positions. A new Pew Research Center survey finds that
Iow pay, a lack of opportunities for advancement, and feeling disrespected at work are the top
reasons why Americans quit their jobs last year (Parker & Horowitz, 2022). This brings up the
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next top-rated categories being professional development opportunities and recognition of job
performance, rated at 9% and 8%.
Reanalyzing the topic categories table and the feedback comments from employees
prioritizing an increase in the pay range and better healthcare/benefits will turn the tables and
show employees that the company cares for them. While incorporating proper training to
recognize job performance and give out annual evaluations to provide feedback on where there
concerns are not important but tackling these categories 1st is probity according to the feedback
of the employees.
External Benchmarking Data
After reviewing the competitor's current benefits Emerging Pharmaceuticals need to
reevaluate and improve their benefits. As mentioned in the key issues the priority target is to
improve their pay range and health insurance. Medtronic already has a hirer pay range
estimating both companies' averages Medtronic pays $10,000 more than Emerging
Pharmaceuticals. The salary range is determined by market pay rates, established through
market pay studies, for people doing similar work in similar industries in the same region of the
country (Heathfiel