NEW PAY PLAN

How this system works is employees are paid a standardized salary which entitles extra benefits and or bonuses on the side. The main focus of benefits is to focus on stability, health, wellness, and lifestyle. These benefits are there to make the employees life’s more comfortable and enjoyable, not necessarily cash incentives. However, there are cash incentives offered as-well. Incentives are the drivers of employee performance, as short term incentives are cash bonus based on performance, or rather long term incentives being stocks in the company you work for. How we will implement this is through transferring your average paycheck to a salary. Meaning a 40-hour work week at 11.40 is $456 a week before deductions. The math equates to a base salary of 21,888. From there employees will be able to receive benefits or incentives based upon work efficiency. We will have assigned goals to achieve by set deadlines to determine employee efficiency. All employees in this system are inclined to do more work at a more efficient rate since they are now being rewarded further than their salary or prior their hourly wage. This business function being salary based with incentives and bonuses will take a greater toll on management. Management will be deemed in charge of bonuses and benefits. It will be their responsibility to determine whether said employee deserves certain benefits or certain incentives based on their work efficiency. As management takes on a heavier role in the company it is better for the greater good and is a sacrifice they will have to be willing to

Each employee will be paid based on their capabilities rather than on the characteristics of their job. This will provide an incentive for employees to develop their skills and move into other roles.

Base pay will be determined according to the value of the skills and competencies an employee has acquired on the production floor, there will be the incentive for skill development as employees base pay will increase as their skill proficiencies enlarge. This will also create mobility between jobs in the organization as many members will be proficient in numerous jobs.

Compensation could also be based in part on seniority with the company. This will show new employees that the company values workers who choose to remain with the company long-term. It also encourages new employees to make a commitment to build a career with the company and deters established employees from seeking other employment. Experienced workers will think twice about pursuing another opportunity if the new job also comes with a pay cut.

--Finally, some opine that employee pay should be tied in part to the compensation of the owner/chief operating or executive officer of the business, with the lowest paid employee being paid no less than a certain

The resulting data was then analyzed for each structure. A regression equation was provided and resulting annual salaries for each position based on allocation of evaluation points was calculated. A table providing minimum, first quartile, average, median, third quartile, and maximum pay for each position in the structure based on the data was also provided. Using this information and the pay policy level decisions on whether or not to lead or lag the market a preliminary pay level for each position was also reached. Whether or not to overlap pay grades came into consideration when deciding on the spread for each structure. Depending on overlap in compensable factors between structures a spread of 50% or 10% was chosen. For example, in the customer service structure the positions have little in common and thus a 10% spread in order to have no overlap was chosen while for the software engineering structure the positions included a lot of overlap in knowledge and skills thus the spread of 50% was chosen.

There has been a major development in women’s equal rights since the Equality Act 2010 was introduced that includes gender equality as one of the strands which states people under this act cannot discriminate or harass and victimise another individual( Ref). The gender pay gap between men and women has been on debate for many years. This essay will examine whether or not in this modern day society their still remain gender inequalities through the use of relevant theories this essay is determined to establish whether these inequalities still exist in employment by exploring social, biological and cultural explanations and differences between men and women. Why women are more likely to be discriminated and oppressed and how I can use this awareness to challenge and address gender inequalities in employment.

When making compensation decisions, whether it is internal or external, comparisons must be considered. However, employers must carefully balance pay structures, because internal and external comparisons may not converge. Therefore, employers may differ in the way they place priorities on internal and/or external comparison data when they are developing pay structures.

In the franchise system franchisee was to be had a definite salary of $50000 but he had full liberty to draw as large salary as he wants contingent to the growth of equity by means of profitable operations and diminishing of debt. So, PK was to pay the salary on the basis of the growth of equity. But in the proposed system by Bachand the salary was made fixed with

4. If you were Woodmere’s top management, what suggestions would you make to improve the current proposal? Why?

Some organizations are unwilling to show their reward systems and pay policies (Lawler, 1995). Many Human Resources professionals believe gender pay gaps to be resolvable through the monitoring of pay levels and communication (Report on Salary Surveys).Greater pay transparency has been a great benefit to the board, employees and managers as they now know what is happening across the business and they are able to confidently justify their actions (Commission Policy Report).All market-related supplements are recorded and reviewed separately from basic salary to ensure openness and transparency. Regular research market rates within the various labor markets in which they operate is undertaken improving transparency would also help to improve talent development, as employees would be able to see what they could earn if they wanted to move to another division and upgrade their skill set. (Commission Policy Report).

Gender equality in salary is always unfair. Men employees always receive higher wages than women employees had received. Companies would like to hire men employees compared to women employees because they believed women employees are weak and cannot competent in the workplace although they have abilities and skills. As a conclusion, our research has proven that this theory was true.

3. How Should he implement your recommended option? What are the implications for P&G’s new post-O2005 organization? What support and/ or resistance do you expect? How will you manage it?

Firstly, according to the needs theories, “behavior as being directed toward the satisfaction of human needs” (p.166). Salary is one of the employees’ needs, but not all of the needs. As Maslow 's Hierarchy of Needs (1943) stated, people has different kinds of needs which motivate human behavior, such as physiological needs, safety needs, love needs, esteem needs and self-actualization. High payment could satisfy the physiological needs, but when an employee is satisfy with his/her salary, he/she will pursue other levels need, such as

Creating and implementing of incentive pay system supports to solve organizational problems to align the preferences of business and employees. In addition, the system serves as an organizing tool to identify and attract the most capable employees since companies need to deliver the product or