Reference no: EM133159957
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- Nutriment decided to conduct research on competitors' compensation. As the first step, Nutriment needs to select relevant market by choosing their competitor companies.
- Please read again the case of Nutriment and review the attached list of companies. Based on the information provided (size, industry), choose the companies that you think are competitors for Nutriment. List those companies (e.g., company 1, 5, 15, 34, 47, 52).
- Please explain why you chose those companies as the relevant market.
- What are the bases of your decision? (e.g. hints: Nutriment's business development stage/strategy, size, industry, competitors for talents)
Nutriment's new hires
With the demand for more nutritional food options growing, Nutriment Biotech is positioned to become a leader in agricultural biotechnology. Nutriment is a start-up biotech company that is working to develop genetically engineered food crops that offer enhanced nutrition along with easier production for farmers. Emily Hart and Harold James established Nutriment as a research organization through national grant funding 5 years ago. Nutriment is one of only a few agricultural biotech companies focused on enhancing nutrition in food crops. The company currently has an edge over competitors as its research has led to some scientific discoveries that now position them to grow their company significantly. As a result, Nutriment is ready to start hiring staff to get operations started.
Emily and Harold have hired Jack Stewart, an HR management consultant, to help them determine how to hire the most talented staff to grow their business. Jack works mostly with start-up tech-based companies and plans to help Nutriment implement a recruiting and hiring plan and establish its preliminary HR management practices such as its pay structure.
Nutriment has secured additional funding to allow it to ramp up full operations quickly. An analysis of its projected workload suggests it will need to hire approximately 15 new employees to get started. It will need to hire not only 10 new scientists but also administrative staff members including a receptionist, an office manager, a lab manager, a marketing professional, and an accountant.
As an experienced recruiter, Jack is confident that he will be able to quickly identify strong candidates for the administrative staff positions. The current labor market works in Nutriment's favor, and , therefore, Jack will be able to easily generate a pool of qualified applicants. The scientists, on the other hand, will be challenging to find as they need specific expertise related to agricultural biotechnology and genetic engineering. The number of scientists with this combination of skills is limited, and the scientists are in demand by competitors. However, Nutriment is located in a geographic area rich with research universities and other biotech firms, so Jack is confident that it can attract a good pool of talent if it is able to offer an opportunity that is attractive to the scientists.
To start the recruiting process, Jack must first establish a pay structure. Before he starts researching market rates, Jack plans to meet with Emily and Harold to establish pay level policies and discuss other strategic aspects of determining the compensation structure for the new employees. Nutriment must offer a pay package that will allow it to attract and retain both the administrative staff members and the scientists. Establishing the right pay practices will help ensure that the recruitment process allows it to put talent in place to position Nutriment for success.
List of companies (1)
- Base = Base wage
- Ben = Benefit
- STI = Short term incentives
- LTI = Long term incentives
- Total Comp
- =Total compensation
- =base wage + STI + LTI + Benefit
|
company#
|
industry
|
size
|
Base/Total comps
|
Ben/Base
|
LTI/Base
|
STI/Base
|
|
1
|
biotech
|
large
|
75
|
29
|
0
|
5
|
|
2
|
biotech
|
large
|
55
|
28
|
41
|
15
|
|
3
|
Pharmaceutical
|
med
|
48
|
32
|
55
|
20
|
|
4
|
biotech
|
med
|
76
|
30
|
0
|
1
|
|
5
|
biotech
|
med
|
68
|
26
|
18
|
3
|
|
6
|
Pharmaceutical
|
med
|
59
|
27
|
38
|
6
|
|
7
|
food
|
large
|
77
|
28
|
2
|
1
|
|
8
|
semiconductor
|
large
|
59
|
39
|
1
|
8
|
|
9
|
biotech
|
large
|
58
|
24
|
30
|
19
|
|
10
|
manufacturing
|
med
|
75
|
31
|
1
|
0
|
|
11
|
biotech
|
med
|
69
|
27
|
15
|
2
|
|
12
|
food
|
large
|
76
|
26
|
4
|
2
|
|
13
|
food
|
med
|
77
|
25
|
4
|
1
|
|
14
|
biotech
|
med
|
67
|
43
|
0
|
6
|
|
15
|
biotech
|
large
|
64
|
34
|
5
|
16
|
|
16
|
semiconductor
|
med
|
79
|
19
|
2
|
5
|
|
17
|
Pharmaceutical
|
small
|
72
|
26
|
0
|
14
|
|
18
|
manufacturing
|
large
|
70
|
42
|
0
|
0
|
|
19
|
biotech
|
large
|
47
|
37
|
68
|
8
|
|
20
|
food
|
small
|
78
|
25
|
0
|
4
|
|
21
|
Pharmaceutical
|
small
|
73
|
26
|
9
|
2
|
|
22
|
semiconductor
|
med
|
72
|
27
|
11
|
2
|
|
23
|
biotech
|
small
|
72
|
18
|
19
|
2
|
|
24
|
manufacturing
|
med
|
76
|
32
|
0
|
0
|
|
25
|
biotech
|
med
|
73
|
25
|
8
|
3
|
|
26
|
biotech
|
large
|
67
|
32
|
8
|
8
|
|
27
|
manufacturing
|
large
|
75
|
27
|
0
|
8
|
|
28
|
semiconductor
|
small
|
75
|
22
|
9
|
2
|
|
29
|
food
|
large
|
54
|
28
|
57
|
1
|
|
30
|
Pharmaceutical
|
small
|
70
|
23
|
12
|
7
|
List of companies (2)
- Base = Base wage
- Ben = Benefit
- STI = Short term incentives
- LTI = Long term incentives
- Total Comp
- =Total compensation
- =base wage + STI + LTI + Benefit
|
company#
|
industry
|
size
|
Base/Total comps
|
Ben/Base
|
LTI/Base
|
STI/Base
|
|
31
|
manufacturing
|
med
|
72
|
36
|
0
|
3
|
|
32
|
Pharmaceutical
|
med
|
64
|
30
|
18
|
9
|
|
33
|
biotech
|
med
|
65
|
17
|
26
|
12
|
|
34
|
semiconductor
|
small
|
77
|
22
|
7
|
1
|
|
35
|
food
|
small
|
79
|
22
|
2
|
2
|
|
36
|
manufacturing
|
med
|
63
|
50
|
0
|
8
|
|
37
|
semiconductor
|
small
|
69
|
22
|
23
|
1
|
|
38
|
biotech
|
med
|
82
|
20
|
0
|
1
|
|
39
|
biotech
|
med
|
62
|
36
|
18
|
0
|
|
40
|
biotech
|
small
|
67
|
35
|
9
|
4
|
|
41
|
biotech
|
med
|
43
|
23
|
104
|
5
|
|
42
|
manufacturing
|
small
|
79
|
26
|
0
|
0
|
|
43
|
food
|
med
|
73
|
28
|
4
|
5
|
|
44
|
Pharmaceutical
|
small
|
46
|
28
|
77
|
9
|
|
45
|
biotech
|
small
|
75
|
19
|
12
|
2
|
|
46
|
biotech
|
small
|
73
|
23
|
11
|
4
|
|
47
|
biotech
|
med
|
69
|
30
|
6
|
8
|
|
48
|
food
|
small
|
72
|
28
|
6
|
6
|
|
49
|
semiconductor
|
small
|
76
|
26
|
3
|
2
|
|
50
|
Pharmaceutical
|
small
|
69
|
29
|
10
|
6
|
|
51
|
biotech
|
small
|
41
|
22
|
119
|
3
|
|
52
|
biotech
|
med
|
65
|
26
|
18
|
9
|
|
53
|
biotech
|
small
|
52
|
19
|
69
|
4
|
|
54
|
biotech
|
small
|
68
|
24
|
22
|
0
|
|
55
|
biotech
|
small
|
48
|
24
|
76
|
7
|
|
56
|
biotech
|
large
|
80
|
25
|
0
|
0
|
|
57
|
biotech
|
large
|
76
|
28
|
1
|
3
|
|
58
|
food
|
large
|
75
|
28
|
1
|
4
|
|
59
|
biotech
|
large
|
76
|
28
|
1
|
3
|
|
60
|
biotech
|
med
|
76
|
22
|
5
|
5
|