HR590: Compensation Decisions
Your job now is to pull together all the information you’ve completed so far in class and make salary decisions for your team. You have completed Cathy’s evaluation and received assignment feedback. This is the first year that you’ve made salary decisions for this team. Be sure to carefully review the information provided. You may simply type in the cells as the text will automatically wrap. You are required to: 1. Enter Cathy’s appraisal rating (she is last on the list); 2. Within your budget dollars, make your salary decisions based on performance for your team taking into consideration their Salary Grade and the Pay Ranges identified for the Salary Grades (fill in the Salary Decision
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Alice is a good worker. She has a lot of potential, which netted her the higher rating. She needs some more skills and experience at this level though. | A4 | $22,500 | 80.4% | 3 | $1,350 | $800 | Substantiation and Risk Analysis: Alice’s potential warrants her a salary and bonus for this year. She is fairly new at the rating but we are hoping that this quick boost allows her to focus on working to better her skills. | Calvin, 28YO black male with 9 months service. Calvin is a real go getter. He hasn’t been with the company long enough to earn a higher rating, but his work is outstanding, high skill set and is looking to stay with our company for a career. | A4 | $26,500 | 94.6% | 4 | $1,000 | $1,000 | Substantiation and Risk Analysis: Calvin’s high skill set and loyalty are being rewarded. He has a short term of service but the bonus and raise should help to keep him motivated. | Jane is a 32YO white female with 12 years’ service. Jane joined the company as an A3. Her work is satisfactory, nothing to brag about, but she’s been with the company awhile and can be dependable. | A3 | $19,100 | 86.8% | 3 | $500 | $300 | Substantiation and Risk Analysis: Jane was given a $500 raise for her satisfactory work and a $300 bonus. These benefits are more of a reward for tenure rather than performance. We want to ensure that Jane wants to improve as that would be beneficial for her and the company. We hope this serves as motivation. | Beth is a
1. Identify the criteria and factors, identified in this week’s reading, that are relevant when making decisions as a manager or leader.
Henderson printing is a mid-level company. The company operates some compensation models for its personnel. Through these models, the employees receive rewards for the labour they render to the enterprise. Henderson printing pays its employees by giving them regular salaries for their services. These are direct payments for the work they do in this company. Secondly, the employees are given pay raises even though this depends on the employee’s initiative to ask for a pay rise from the owner (Davis, 2013). Lastly, the employees are also accorded some merit bonuses every Christmas time. The merit bonuses are based on their contribution to
From a total rewards perspective, the reorganization allowed the company to develop ways to improve the satisfaction of its employees. Linking pay to performance and other compensation incentives was an asset when recruiting talented technology professionals to come in and build
As consultant to Sanders and Myers, I would suggest they rethink the continuation of economic value added (“EVA”) bonus payout process. The proposed EVA bonus payout structure is supposed to be an objective way to gauge and reward employee performance; however, through no fault of their own, the Dermatology group is slated to undergo severe ebbs and flows in their incentive and could potentially wreak havoc on employee morale and retention.
Problem: State Bank has over time increased salaries to tellers that were so high that of the 23 tellers at State Bank they were being paid over what other local tellers were being paid; additionally no other employees outside of the tellers were receiving an exceedingly higher salary based on the other local banks averages. All of this information was compiled in a report based on survey results taken from State Bank and the other local surrounding banks.
Margaret: The salary rates the business is presently paying for the individual position fall well within the wage cure at Grade 2 midpoint; however, she will be promoted to General / Operations Manager, Grade 2 with a pay increase of midpoint $ 95,161. She will manage all apartment buildings, to include the nine apartment buildings within the area (previously managed by Buzz), handles legal matters and resolving all escalated tenant complaints and evictions $6,400 a month.
a) To ensure you have a clear scope for your team, create a 2-level WBS. Don’t forget to include your WBS numbering. (20 points)
The company uses a merit based pay structure to recognize employee performance. Yearly evaluations of performance are conducted to rate employee’s results of the year compared to previously set goals. Kraft Heinz recognizes employees at every level for outstanding performance. In 2014, over a thousand employees were promoted because of their high performance and the value they added to the organization (Kraft Heinz, "Careers", 2015). Merit-based pay is based on individual performance. This method of pay and raises creates a link between rewards and the employee’s performance throughout the year. A danger of merit based pay, in organizations like Kraft Heinz Co., is that management might give merit based raises/promotions on how they perceive the employee will perform, so they may over or under estimate pay decisions (Judge & Robbins, 2016, pp. 137). However, the end of the year assessments the company conducts to review performance and set goals for the next year would help to reduce this
Pay and Rewards – pay and rewards attract, motivate and retain staff. The employment contract which lists rewards, whether it be pay, bonus or benefits, can remove animosity amongst employees and employers. However, recent research reveals that employees are no longer motivated by a financial reward alone, but
However, Jane can ensure Susan’s benefit package is fair. Jane could make observation rounds on other employees, to ensure they are following best practices.
Pivotal in that philosophy development is how and to what extent pay will be tied to specific types of performance. This issue will not be treated the same in every organization. However, every business should be able to identify certain performance objectives it wants its workforce to fulfill and the financial outcome that will be achieved if that result is attained. Such a projection can be translated into an increased shareholder value figure. (The VisionLink Advisory Group)
It is clear from this article that there is no clear answer. Miller’s repeated use of phrases like “satisfaction,” “compensation,” and “recognition” in the article all accurately describe the state of employee’s expectation. His first point, more workers looking to regain raises and bonuses, sounds reasonable and his second point, compensation as the second contributing
Step Four is to gather information and data. I reviewed the salary potential of the job opportunity. I considered the current salary and potential future salary increase.
This paper will outline an employee compensation and benefits package for a new hire for a secretary for the department. First, it will describe the organization I chose for designating a compensation package. Next, this paper will develop an employee compensation and benefits package for this new position. This paper will outline an employee compensation and benefits package for a new hire for a secretary for the department. First, it will describe the organization I chose for designating a compensation package. Next, this paper will develop an employee compensation and benefits package for this new position. Attached to this paper is a Powerpoint presentation that will detail this employee compensation and benefits package, as well as an the eligibility of exempt or non-exempt status, other benefits that might be considered, government regulations that influence the compensation, two other organizations with similar compensation, and how this package aligns with the HRM strategy.
Secondly, Jean Warshawski, who was ranked the second place under the new evaluation criteria, had excellent selling performance (Rank 1). She had strong ability to recognize and identify the customers and their needs. She had good relationship with fellow CSRs and customers. She had three year teller experience including the part-time period. Her work was also well organized. But her operational performance