Project Planning - Employee Benefits and Compensation Package - Business Plan Example

Introduction

Project management is an efficient tool for inititating and carrying out complex projects (Bjeirmi & Munns, 1996). The division of any project into smaller tasks thst are managed in a heirarchical order contributes to the eventual success of any project. Project planning is often associated with a variety of tools and softwares (Longman & Mullins, 2004). In any project, a Project Charter declares its objectives. Furthermore, the document identifies the management structure and decision making processes. Though the document is concise, the mechanisms of a structure cannot be undermined. Likewise, communication plans are important in outlining strategies and the framework for project communication. Furthermore, they describe the protocols for information distribution, feedback and stakeholder management. Communication has fundamentally changed in contemporary business environments and any communication plan should be quick to reflect new developments (Backer & Weber, 2015).

Project Charter

Situational Analysis

As the human resource manager, I have identified that the company needs a revamp of the current compensation and benefits package. This change will ultimately make employees productive and efficient; additionally, it is an effort to allign organizational practices to support employee satisfiaction. It is notable that the current compensation package is below industry standards and there is need to improve it. The managerial decisions to intergrate new health benefit packages and an employee reward scheme also neccesitates changes in the current framework. Upon completion, the human resource and finance managers will be expected to oversee the implementation of the plan. It is expected that such a plan will harmonise benefits across the orgrnization by taking into consideration employee performance and risk exposure.

Purpose statement

To design a project charter that will aid the company in changing employee compensation scheme and benefits packages. This plan will take into consideration recommendations, industrial averages and a realisation of new organizational goals.

Goals

• Create a harmonious compensation and benefits plan that connects the staff through:
  • • • Recognition of employee input to organizational success
      • Safeguarding employees’ health through proper compensation
      • Supporting a fair work environment
• Incorporate executive decisions on new remuneration policies
• Sharing organizational success with all stakeholders across the organization
• Provide a flexible compensation and benefits plan for future modifications

Deliverables

• Plan and recommend modifications to the existing compensation and benefits system to promote organizational goals, equity and risk coverage.
• Define an eligibility scheme for the modifications.
• Design a system that is adaptable across all departments in the organization.
• Mobilize employee support for the implementation of the new changes during the pilot and implementation stage of the project.

Plans and Guidance of the Process:

The following are guidelines that will guide the design of the system:

• The system will refer to the national standards for awarding compensation and health benefits to employees
• The system will adhere to labor union provisions for providing a safe working environment to employees
• Risk exposure will be used to determine the amount of health benefits the company will offer employees on top of the stipulated health plan
• A Bonus plan will be awarded to managerial teams as well as appropriate bonus packages/stock options for employees in critical installations.
• Align the existing systems with current changes in legislation in order to avoid unnecessary lawsuits.

Scope

The revised benefits and compensation system will link employee contribution to organization performance. Moreover, employee health will take centerstage in a bid to promote new universal awareness of lifestyle diseases and occupational harzards. The human manager will be responsible for the overall assessment and intergation of the system into organizational policies. At the various stages of the plan, departmental manangers will be required to give feedback to the head of the human resource department for analysis. The human resource manager will further collaborate with the project’s team to analyse financial impact and recommend to the board the final revision for intergration into the organization renumeration policy. The executive management board will play an oversight rOle during the design, pilot and implementation phases of the project. Thus, they will hold a number of meetings to deliberate on the project’s development and ensure its objectives are delivered within set time limits.

Additionally, the project team will liase with labor union officials and the federal department of labor to incorporate their views and labor best practices into the new protocols. Nevertheless, employees and any other concerned parties will be free to contribute relevant information that enhances the positive outcomes of this project.

Team Members

• Executive directors
• CEO
• Financial Manager
• Human Resource Manager
• Legal Affairs Manager
• External HR consultant
• Operations Manager
• Labor Representative

In this project, the human resource manager will be the team leader and he/she will perform the following roles:

• Ensure the completion of the project in the scheduled timeframe.
• Ensure employee and the directors communicate to achieve success.
• Provide leadership and supervision to the team.
• Engage the team in decision-making processes to ensure they obtain amiable solutions

Team members will play the following roles in this project;

• Participate in scheduled team meetings and contribute to the project.
• Represent their various departments and utilize their specialties to achieve success.
• Offer constructive criticism towards the realization of the project.

Schedule

January

• Team member will hold initial meetings to deliberate on the project charter
• During this month, members will identify the scope and deliverables of the program

February-May

• The team will review competencies that justify compensation and benefits to design an efficient program
• The Team will conduct a financial analysis and compile a report on the implications of the proposed system

June

• Executive board will be presented with the final report for approval

June-August

• Implementation of pilot phase of the program
• Validation and Modification of the deliverables

Communication Plan

The projct team will rely on periodic reports and communication with the executive board. The executive management will identify at their own discretion, sessions during which the team and the exectuve management will deliberate on the progress of the project. The human resource manager (team leader) will also occasionally communicate with employees through internal notifications. Employees will be required to make their contributions in at least two consultative meetings and thereafter, suggestions will be accepted during the planning phase of the project. Other concerned parties out of the scope of the organization will be able to communicate with the team through personal mail, web forums on the company’s website and suggestion boxes. Any media communication will bea handled by a spokesperson elected by the project’s team. Departmental managers will acquire feedback from employees at their own discretion (Too & Weaver, 2014; Backer & Weber, 2015 ).

COMMUNICATION PLAN

AUDIENCES

WHAT

Activity

Developing

Situational Analysis

Developing Project Goals/ Deliverables/Plansa and Schedule

Media Conferences

WHEN

Project

Start

Jan

Jan-March

Unspecified

HOW

Procedure

Project Meeting

Project

Meeting

Media Briefs

RESPONSIBILITY

Project Manager

Project Manager

Project Manager

Spokesperson to be elected by project team

Project Manager

Serves as default spokesperson

SPONSOR

Approve

Executive

Directors

Executive

Directors

Executive Directors

Project

Meeting

PROJECT TEAM

WHO

Receive

Project Team

Project

Team

Public

Employees

Employee Contributon & Feedback

March-August

Online Feedback Platforms/ Monthly

Staff Meetings

Project Manager

Executive Team

Employees

Interested Parties

Final Reports

Project

End: August

Written

Reports

Project team

Project Manager

Executive

Directors

Employee Briefings

Monthly

Internal

Memos

Team Secretary

Project Manager

Employee

Status Reporting

Biweekly

Written

Reports

Team Secretary

Project Manager

Executive

Directors

Risks or assumptions

Assesing risk exposure to determine appropriate health insurance benefits to the emlployees will be particularly dificult. Some employees might feel left out of some part of the plan, while other might assume the management is favouring one section of the department over the other. To adress this problem, physical risk together with decision risk will be used together to adress the disparity in benefits and compensations. Moreover, employees will be offered stock options to engage with the company as shareholders in light of increasing profitability. It is assumed that the inclusion of all employees will increase productivity and efficiency.

Endorsement statement

There are various parameters to consider in the planning and implementation of a revised benefits and compensation system. The essense is not to attain a perfect system; rather to incorporate new employee considerations into the system. The adapted compensatory system will adress worker contribution in terms of decision risk and organizational financial performance. The health benefits schemes will take into consideration the recommended standards and additional employeee working conditions such as time-risk exposure to work harzards. Moreover, the company’s resources will be assesed to determine whether there will be sufficient financial resources to cater for the modifications.

Work Breakdown Structure

Duration

predecessors

1

Project Initiation

1.1

Developing situational analysis

5 days

1.1.1

1.2

Developing plans goal

2 days

1.1.2

1.3

Developing deliverables

10 days

1.1.3

1.4

Developing plans and guidance of the process

2 days

1.1.4

1.5

Developing scope

5 days

1.1.1.1

1.6

Developing schedule

6 days

1.3

1.7

Developing communication plan

15 days

1.1.7

1.8

Developing endorsement statement

10 days

1.8

2

Project execution

30 days

2.1

Analysis Phase

10 days

2.1

2.2

Design Phase

10 days

2.1

2.3

Validation Phase

10 days

2.3

2.4

Deployment phase

3 months

2.4

2.5

Completion Phase

2 weeks

2.5

3

Project closeout

1 day

3.1.1

Conclusion

The implementation of this project is depedent on the successful and organized planning of multiple tasks. Any project is composed of a set of tasks that follow each other in an order precedence. Therefore, project planning identifies a systematic methodology of carrying out these tasks in an orderly manner. Any project planning has to have a project charter which highlights the deliverables of the project. Additionally, a communication plan details how members of the project and other external and internal parties will communicate with each other during the design and implementation phases of the project. Whenever, the project involves a series of complex tasks a work breakdown structure which breaks down the project deliverables into a set of simple, time-limited tasks. All in all, project planning is essential for an organization that intends to become efficient in delivering tasks and projects.