OBJECTIVE: The objective of this assignment is to develop an appropriate benefit and refirement savings program for the Great Canadian Company (GCC) Ancester to support it with achieving its business objectives. You are the benefits and pensions edvisor to the owner of the Great Canadian Company Ancaster. SCOPE OF THE PROJECT: You will prepare a report outlining your benefits and refirement savings plan, on well es the supporting communication plan and the rationale for your recommendsions. No formal indirect compensation plan or retirement savings plan currently exists. Instead, employees are hired based on market reles end the benefits package has been based on government sponsored benefits only. . Part 1: Describe the totel compensation philosophy for your company Identify the goals of having = benefit and refinement savings plan Propose the benefit plan design YOUR DELIVERABLES: Confirm the available benefit plan budget end employee eligibility gitwin The owner of GOC hes hired you as the benefits advisor to design a benefits and refirement savings plan with supporting communications to support the company to achieve its many objectives. The Great Canadien Company located in Ancauter (GCC) is a boutique retail company located across Canada. The company was started by the owner in 1990. It now has annual revenues of $56,000,000 end operates in 15 Consider the following guidelines in creating and writing PART 1 of your geond locations across Canada. Required Report Content Cut of 100 Currently privele, the company expects to go public in 2023, when seles are expected to hit $85 million. The |Wate a letter of introduction about your consulting company and what you are going to 15 business requires new capital expenditures to continue its growth end the public stock offering will create the cash do for your client. This letter generally deals with the "scope" of the project and the required for growth. The pace of the company's business is rapid. New products and services are the only way to specific recommendations you are making. stay cheed of the competition. 2 Identity the told compensation philosophy for your company and the specific good for Employment hes increased from 10 in 1920 to 450 in 2019, current employee demographics are: having a benefit end retirement savings plan. Include a description of the issues that : benefit and pension plan will address and include and assumptions you are making in TOTAL preparing this Report. Full-time (F)] 129 Pertome 50% Provide your recommended benef plan design; this may be fixed or flex, one plan or % Bingle several job level specific plans. Include plan eligibility and other sey design criteria. %% momed to F Prepare a budget for your proposal benefit plan including the supporting reasons for 30 Salaries: beged on a 7 hour day being either under or over the competitive market average budget (as a % of total Ted W.now BEcam- $18.95 $24.15 345.50 365.50 compensation) for these types of plans [use spreadsheet provided to aid in preparing budget While all employees are currently non-union, there are some relieble sources indicating staff are looking to unionize in the Vancouver and Montreal locations. The owner is concemed that the company is growing so fest that the collegial atmosphere is disappearing. Turnoverthes been just around the industry average (35%) end lately, turnover among new hires is increasing more then the overel overage. The owner senses the need for s professionally designed benefits and refirement savings plan. Funds are eveilable but not unlimited. The expectation of going public puts pressure on the firm to look responsible and conservative to potential investors. However, the owner wants to maintain the corporate culture that made the company successful