FFH's Total Rewards Package Strategy

Overview
FFH is concerned about the competitiveness of its total rewards package. Most store managers and supervisors have been with FFH for over 20 years and have been very satisfied with their compensation. However, while interviewing prospective employees, they are getting indications that their total rewards package is not equal to their competitors.
One commonly used method of comparing a salary to a competitor's is by using a salary survey. Historically, this was done by HR, as they would decide who the competitors were and then phone each of these companies to exchange salary and benefits information with them. With the growth of the Internet a lot of this work has been taken over by professional organizations such as SHRM chapters or by other sources of salary data such as consulting companies, which involves sharing salary data and paying a fee. While these surveys yield valuable data, they generally cost money and require participation in the survey itself.
You are being tasked with recommending a strategy for improving FFH's total rewards package in order to be competitive with other retailers and to positively support FFH's recruitment and retention initiatives.
Preparation
Possible data sources that will provide more general but often very useful salary information are O*Net Online and the Bureau of Labor Statistic's Databases, Tables and Calculators by Subject. Feel free to use these Web sites or others you find for this assignment.
Description
Based on the course readings as well as your own research, include the following in your total rewards package strategy for store managers and supervisors, which you are preparing for HR management and organizational leaders:
o Analyze components to include in FFH's total rewards package. This analysis should include salary and benefits as well as areas beyond compensation. Should FFH lead the market, pay at market rates, or lag behind the market? To move toward the broader definition of total rewards, what two other components should FFH consider for their package?
o Compare the salary and benefits components with adding an incentive compensation package. Is there a benefit to including a bonus, commission, or profit sharing as part of FFH's total rewards package?
o Explain what legal compliance requirements FFH should consider when creating a total rewards package.
o Recommend a total rewards package strategy for FFH management. Do FFH's cultural and inclusive practices, which support a diverse workforce, impact your recommendations? Justify the components you are including.
Your FFH's total rewards package strategy should demonstrate graduate-level writing skills through the accurate communication of thoughts that support a central idea and use of correct grammar and mechanics as expected of a human resources professional.