You have been asked to replace the project manager who was heading up your firm's new compensation and benefits system. One of the reasons the project manager is being replaced is because the project schedule had the wrong resources assigned (for example, resources who do not fully understand compensation and benefits). You have been asked to solve this problem quickly by either replacing the resources or getting the resources up-to-speed on compensation and benefits.
Present your recommendation for solving this critical resource problem by reviewing the pros and cons of each option.
Full Answer Section
Cons:
- Cost: Hiring new resources can be expensive, especially if the company has to hire experienced resources.
- Disruption: Replacing resources can be disruptive to the project, especially if the new resources need time to get up to speed.
- Morale: Replacing resources can also have a negative impact on the morale of the existing team members.
Option 2: Get the resources up-to-speed on compensation and benefits
Pros:
- Less disruptive: Getting the resources up-to-speed on compensation and benefits is less disruptive to the project than replacing them.
- Lower cost: Training the resources on compensation and benefits is typically less expensive than hiring new resources.
- Morale boost: Investing in the training and development of the resources can boost morale and show that the company is committed to their success.
Cons:
- Time-consuming: Training the resources on compensation and benefits can be time-consuming, especially if they have no prior experience.
- Less experienced resources: The resources may still lack the experience and skills necessary to complete their tasks effectively, even after training.
- Risk of failure: If the resources are not able to learn the necessary skills quickly enough, it could delay or even derail the implementation of the compensation and benefits system.
Recommendation
I recommend that you get the resources up-to-speed on compensation and benefits. This is the less disruptive and less expensive option, and it shows that the company is committed to investing in its employees.
Here are some tips for getting the resources up-to-speed on compensation and benefits:
- Provide comprehensive training: The training should cover all aspects of compensation and benefits, including the company's current compensation and benefits system, the new compensation and benefits system, and relevant laws and regulations.
- Use a variety of training methods: To keep the training engaging and effective, use a variety of training methods, such as lectures, discussions, case studies, and hands-on exercises.
- Provide ongoing support: After the training, provide ongoing support to the resources to help them apply what they have learned. This could include providing access to resources such as job aids, FAQs, and training manuals.
By following these tips, you can help the resources to get up-to-speed on compensation and benefits quickly and efficiently. This will minimize the impact of the critical resource problem on the project and help to ensure its success.