Benefits and Compensation Plan

ASSIGNMENT #1: BENEFITS AND COMPENSATION PLAN CHANGE

ASSIGNMENT #1

Mia M. McCain

February 12, 2012

Professor Hughes

Strayer University

Project Charter Name Benefits and Compensation Package Conversion

Project Number 2100

Business Area Human Resources

Background

The purpose of the Benefits Package Conversion project is to transition from our current benefits plan provider to a plan that coincides with the plans of our employee’s wishes. The selection of the new benefits and compensation plan was made by a team comprised of the Human Resources and Legal departments and was based on the plan’s ability to meet the team’s requirements: * Online management tool * Choice of payment schedule * Meet employee needs * Flexibility * Visibility |

Business Need and Business Benefits

* Streamline Benefits and Compensation Plan * Potential reduction in costs * Streamlined workflow * Larger bottom line |

Project Objectives / Success Criteria

Business Objectives

Objective | Measure of Success |

Potential reduction in risk | Reduction in costs for benefits plans. |

Streamline workflow | Increase frequency of audits and allow more time for other department functions |

Increase visibility to employees | Online system reporting available to show current benefits and compensation information to stakeholders. |

Larger bottom line | Increase in annual bottom line |

Project Objectives

Objective | Measure of Success |

Define business requirements that include new processes as well as detailed benefits and compensation plan specifications | New system and process rolled out meets requirements detailed in the requirements document. |

Configure benefits and compensation plan and interface employee web services to support business requirements | |

Develop and execute training/change management plan (including deployment of new plan) to transition users over to new benefits/compensation plan and processes | |...