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After carefully reading Name Your Price: Compensation Negotiation at Whole Health Management (Harvard reading) and Negotiation Skills, prepare three separate documents for submission. For this assignment, you are Monroe Davies (or Monica, if you prefer). As such, everything in this reading applies to you in the persona of this character. Note that the purpose of this assignment is for you to become familiar with the primary aspects of a compensation package and the negotiation process. To accomplish this assignment, you will accept this position and complete the three documents detailed here (submitting them as a single Word document). For the acceptance letter and memo, use the customary format guidelines.
1. Job Offer Table: Prepare a simple table from the information available on Exhibit 1 (page 5), which is the job offer template sent to you by Jim Hummer. Do not copy this table! Jim has written in XXXXs in the spaces next to five line items: compensation, bonus, relocation allowance, stock options, and continuing education stipend. The table should bear a simple heading, Job Offer Table, with the five line items. Based on the data available in this reading and any research you conduct, complete the Job Offer Table by researching each of the five line items and determining your proposed amount for each. No other information should be provided in this table.
2. Letter of Acceptance: Write a letter of acceptance to Jim Hummer to accompany the job offer table. In this letter, do not reference the five compensation factors – that would be tacky. Limit this letter to no more than one page.
3. Executive Memo with Citations: This is the most important component!! Write a two-page executive memo to (Dr. Hammond). In addition to the two required readings (Name Your Price and Negotiation Skills: Negotiation Strategies and Techniques to Help You Become a Better Negotiator), you will conduct research to arrive at an optimum amount for EACH item in your Job Offer Table based on careful research. From your findings, present your reasoning and evidence for each of your five proposed amounts.
Remember that Jim Hummer is an experienced, successful negotiator. He will be expecting a thoughtful, objective, market-based rationale for each of the five items in your Job Offer Table. This is not a wish list. What do you bring to the table and what will the market justify for your position and your characteristics? Sift carefully. The two required readings do not contain sufficient information to provide a strong justification for all file amounts.
Present these documents (3) as a single submission (one Word document). In this order, your submission should consist of the following items: cover page, job offer table, letter of acceptance, executive memo, and reference page.
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