Q Compensation Plan Background Your professor will assign you to a team for this Course Project. Each new team is a task force working for a start-up boutique hotel chain preparing to launch in five locations across the country. These new hotels are currently under construction in Manhattan, Chicago, Miami, Houston, and Los Angeles, and are expected to open in about 5 months. The hotels are small, 50 to 100 rooms depending on the city, and luxurious. The hotels will appeal to a select clientele. The marketing approach taken by the hotels is being defined and is not part of this assignment. The CEO of your new organization believes in a very collaborative approach to management. She also believes that everyone in the organization should be working on stretch assignments. Your task force is the first to receive this stretch assignment, which is the Course Project. Process You are to work in a virtual self-managing work team to develop a recommendation for compensation packages for soon-to-be employees of the five hotels. The CEO has not been very clear about how the hotels will be staffed, figuring that the team can figure out what the positions would be, leaving the number of employees in each position to be determined. She has directed that she wants the hotel staff compensation to be higher than average, maybe in the top 25 percentile. She also wants the compensation to be adjusted for the local cost of living. Everyone's compensation is to have some bonus potential based on the profitability of the location at which they work. Assignment Although there could be several positions in a hotel, each team is to concentrate on the five positions they deem most important to run the hotels. You are to develop a plan for total compensation of these five required positions; not just salary. Your Course Project assignments consist of three parts. Part 1 Due Week 4 Project Plan 100 points Part 2 Due Week 8 Compensation Package Recommendations 300 points Part 3 Due Week 8 Peer Review 80 points Total 480 points Part 1: Project Plan (100 points) Research some ways of developing compensation plans. There is some good material on this in Chapter 7 of our text. A good example can also be found at the Society for Human Resource Management. In cooperation with your teammates, develop a strategy and plan for conducting the final recommendations, due in Week 8. Create an outline or table with the schedule of how the project will be done. Include a breakdown of the tasks, a date the tasks are to be complete, and the name of the teammate responsible for completing the task. Create this in one Word document. Submit this assignment to Project Part 1 and keep a copy in your Canvas Group area so team members can consult it as the project develops. One thing that you will probably need for your project is job descriptions of the five positions that will be the subject of your study. You can find job descriptions on the Internet. As long as you correctly cite your sources and appropriately identify quotations, you may use the descriptions verbatim. The second part of the project is not due until Week 8, but you will want to work on the project over the intervening weeks. This is a substantial project and will take significant time as well as good organization on the part of the team. Part 1 is due in Week 4. Grading Rubric for Part 1 Category Points % Description Documentation and Formatting 10 10% A quality paper will be formatted as a report to management. The paper will also include a title page, proper in-text citations, and a reference page. Editing 10 10% A quality paper will be free from any spelling, punctuation, or grammatical errors. Sentences and paragraphs will be clear, concise, and factually correct. The paper will follow APA writing style. Content 80 80% A quality paper will have significant scope and depth of research to support any statements. Relevant illustration or examples are encouraged. A quality paper will employ sound use of reasoning and logic to reinforce conclusions. The paper meets the length requirements. A quality paper will include the name, description, due date, and responsible party for each task. The tasks will be defined in sufficient detail to allow the paper's use as a project management tool. Total 100 100% A quality paper will meet or exceed all of the above requirements. Part 2: Compensation Plan Recommendations (300 points) The second deliverable for this project is due Week 8. Submit one Word document that consists of a report addressed to the CEO. The report is to contain the following. 1. Executive summary 2. A description of the project 3. The methodology that was used to complete the project 4. Job descriptions for your five chosen positions 5. The results of a compensation survey you conducted using sources available on the Internet 6. How your recommended compensations were calculated, including averages, adjustments for locations, and adjustment to create packages that were in the top 25% of industry compensation packages 7. Conclusion The report should be about 10 to 12 pages long. Follow proper APA writing style, grammar and punctuation, and so on. APA writing resources are available in the Course Resources item in the Introduction and Resources module. Part 2 is due in Week 8. Grading Rubric for Part 2 Category Points % Description Documentation and Formatting 50 17% A quality paper will be formatted as a report to management. The paper will also contain proper in-text citations and a reference page. Content 25 8.5% The content will be properly subdivided into sections (subheadings) derived from the items 1–6 above. Editing 25 8.5% A quality paper will be free from any spelling, punctuation, or grammatical errors. Sentences and paragraphs will be clear, concise, and factually correct. The paper will follow APA style. Organization and Cohesiveness 200 66% A quality paper will have significant scope and depth of research to support any statements. Relevant illustration or examples are encouraged. A quality paper will employ sound use of reasoning and logic to reinforce conclusions. The conclusion will be summarized and the reasoning will be employed in analysis and any outstanding conclusions that were reached, pertaining to research analyzed and reported on. The paper meets the length requirements. Total 300 100% A quality paper will meet or exceed all of the above requirements. Part 3: Peer Review (80 points)