Construct a project charter to revamp the compensation and benefits package

Construct a project charter to revamp the compensation and benefits package

Redbird Inc. is a home improvement company that specializes in restoring historical landmarks. Redbird Inc. has experienced tremendous growth in the 2013 fiscal year. Such growth has prompted the need to review and revise some of the company’s strategies, policies, and compensation plans to ensure that all company processes remain in the best interest of the company, stakeholders, employees and the customers served.

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To expedite changes the company will start by assessing the compensation and benefits plan. Redbird Inc. values its employees and in effort to build employee loyalty a review and revision of the current benefits plan is essential to creating and preserving employee satisfaction. The overall focus of Redbird Inc. is to ensure that its vision, mission, and strategies are aligned. They can begin by aligning compensation to performance. Developing a performance metrics is essential to ensure that high producers are adequately compensated based on their productivity.

To streamline this process it is necessary for each participant to have a clear understanding of the plan. Both employees and managers will need to understand the criteria and metrics that must be met to earn productivity based compensation.

Metrics guidelines will include a clearly defined metrics along with the assessment exam to ensure the employee’s knowledge, skills, and abilities. Once guidelines have been established all employees will participate in a training session to develop competency in various areas of productivity. To guarantee that all employees have the opportunity to thoroughly understand and benefit from the new compensation plan it is essential that open lines of communication are encouraged and enforced. To enhance communication efforts Walker (2002) states, “Communicating effectively helps group members build trust and respect, foster learning and accomplish goals.” When communication is effective the company excels, and projects are completed in timely fashion. Effective communication also fosters great working relationships.

Design a communication plan for a project.

The project communication plan fosters effective communication between project team members and leaders. The communication plan acts as a tool to keep the project and team members on pace and aware of group and individual responsibilities. Project planning must include information concerning the project from stakeholders, and company executives. Communication planning is essential to identifying project requirements while recognizing capabilities of team members along with resources available. This will enable the company to develop a viable project plan that will yield the desired outcome. (Tyson, 2010)

A good communication plan includes the following:

Target audience
Communication methods
Communication frequency
Communication content
Communication objectives (“Plan the project,” 2006)

Project Communication Plan

Project Name- Redbird compensation plan

Project Leader-