Team+6+-+Online+Assignment+-+May+20th

__Team 6 - Online Assignment - May 20th (May 13th - May 25th):__ Complete and finish powerpoint presentation, shoot video for introduction, and prepare for the actual presentation
 * a) Note what tasks you still need to do:**

Crystal Koestartyo, Peter Nguyen, Emily Barrett, Jennifer Wong, Jedd Zlotek Changed company from Coach to Goldman Sachs, started research, and assigned tasks to group members
 * b) When your group has met (date, members who attended, and what was accomplished).**
 * Friday, May 13th 11:30-2PM** -

Crystal Koestartyo, Peter Nguyen, Emily Barrett, Jennifer Wong, Jedd Zlotek More research and created ideas for powerpoint and video
 * Wednesday, May 18th 11:30-2PM -**

Crystal Koestartyo, Peter Nguyen, Emily Barrett, Jennifer Wong, Jedd Zlotek Collaborated on ideas regarding powerpoint and video, started powerpoint, continued research.
 * Friday, May 20th 11:30-2PM -**

Crystal Koestartyo, Peter Nguyen, Emily Barrett, Jennifer Wong, Jedd Zlotek Filmed video.
 * Wednesday, May 25th, 11:30-1:30PM -**

Crystal Koestartyo, Peter Nguyen, Emily Barrett, Jennifer Wong, Jedd Zlotek Created questions, finalized powerpoint, practiced lines.
 * Wednesday, June 1st, 11:30-1:30PM -**


 * c) Document all information regarding the presentation. While there is no report due for this project, I would like for you to have a informal report to document the theories, explanation of the theories, information you gathered from observations and interviews, and information from the text that you will use for your presentation. Basically, I would like you to build content over the next two weeks so I can read your information gathering process.**

__Jen:__ -Salary -Performance of individual -Employee Investing Services: investment education, portfolio allocation services and trading execution for employees -Health care: a choice of medical plans, as well as prescription drug, vision and dental care plans -Insurance: life, disability and sickness, and business travel accident insurance plans -Holiday and vacation policies: a competitive offering of holidays and vacation time, generally based on employee status and years of service
 * Merit Pay -**
 * Employee Stock Ownership Plans** -
 * Pay as Benefits -**

__ [] __ (an article that talks about how much money is spent on compensation in 2010 for the company)

__Emily:__ -The firm’s performance -The performance of individual divisions and business areas -Annual discretionary year-end bonus (in the form of cash and/or equity-based awards) -The purpose of the firm’s equity program is to attract, retain and motivate employees; to compensate them for their contributions to the long-term growth and profits of the firm; and to encourage them to acquire a proprietary interest in the success of Goldman Sachs. Employees who meet eligibility requirements receive equity-based awards, and thousands of current and former employees hold shares in the firm. -Article: In late January of 2010, partners of Goldman Sachs were told that their 2009 bonus will be paid 60% in stock that will vest over 3 years, which made the partners very happy. One partner states, “Cash loses value over time, while Goldman stock gains”. Also, many vice presidents received bonuses that matched or beat the numbers paid in the record year of 2007. In addition, several employees, including junior bankers, saw their base pay increase by as much as 50%.
 * Gain-Sharing Plans and Profit-Sharing Plan -**
 * Bonuses -**

Carney, John. "Bonus Watch 2010: Goldman Sachs Pays Huge Bonuses And Gives Junior Bankers A 50% Salary Raise." //Business Insider//. Business Insider, Inc., 28 Jan. 2010. Web. 24 May 2011. < [] >.

__Crystal:__ - Goldman’s managers could use nonfinancial incentives to energize their staff (articles - [|__http://nonprofitpeople.monster.com/training/articles/344-motivating-without-money?print=true__] ) Extrinsic: (Examples of extrinsic motivators which are compensation based are motivators such raises, bonuses, extra vacation time, flex time, gift cards, luncheons or other gifts. These types of rewards typically have a price associated with them, unlike the intrinsic rewards which are more effort based from the employer perspective.) - gain broad exposure to all of the firm’s businesses. - work in a diverse and stimulating environment alongside people from different backgrounds, experiences and cultures. - New York headquarters provides ample opportunity for you to grow your career in many directions. - have access to career mobility within your division or in another division. - in some smaller, regional offices, can take on more responsibility early on and become an expert in your field. - In the US, we offer career opportunities to undergraduate, graduate and experienced candidates across all Goldman Sachs divisions. __ [] __ __ [] __ Intrinsic: positive reinforcement, more responsibility, higher levels of autonomy, variety of work schedule. Any kind of innovative approach to the job which makes the job more interesting and/or exciting is likely related to an intrinsic reward. - Business Book of the Year Award: The Award recognizes one business book that provides “the most compelling and enjoyable insight into modern business issues, including management, finance and economics.” The winning author receives £30,000, and each of the shortlisted authors receives a £10,000 prize. __ [] __ testimonials: “__[|It's a competitive, challenging, and rewarding place to work; but tough to balance work/life sometimes] __” Pros You get to work with very competent and smart people. A challenging and learning environment. Very collaborative. Cons Can be quite stressful, as there is always too much to do and not enough time, balancing work/life can be challenging at times http://www.glassdoor.com/Reviews/Goldman-Sachs-Reviews-E2800.htm -They only hire excellent people/student (Harvard Grad) *check positions and requirements on website* - overviews, salaries, reviews ( [|__http://www.glassdoor.com/Salary/Goldman-Sachs-Salaries-E2800.htm__] )
 * Intrinsic & Extrinsic -**
 * Pay for Skills -**

__Peter:__ Compensation is determined by a number of factors, including: -The firm’s performance -The performance of individual divisions and business areas -Each employee’s performance in the context of her or his role -External and internal compensation benchmarks -The firm's retention and incentive goals for individual employees
 * Performance Appraisal -**

__Jedd:__ - Less stressful work environment - Different types of incentives other than cash bonuses for meeting company and individual goals
 * What the Company Should Improve on:**
 * -** Things they need and what they don’t have for rewards/performance management