Organizations carry out salary survey after few years to ensure that their compensation offerings are market based. What should be the components of an ideal salary survey? Discuss.
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Organizations carry out salary survey after few years to ensure that their compensation offerings are market based. What should be the components of an ideal salary survey? Discuss.
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- why are the different organization's methods to use salary surveys? also elaborate employees' financial and non-financial benefits?Answer the following questions: 1. What are the benefits of a salary survey can offer? Discuss. 2. How executive compensation is different from others? Explain. 3. Design / write a small case study of any topic as given in the delivery plan with 2 questions and answers.Review the SHRM case: “Designing a Pay Structure” You will prepare the SHRM case analysis on “Designing a Pay Structure,” which consists of your completion of Tasks A–J that simulate the creation of a compensation system for an organization in meeting its goals and supporting its mission. In your analysis, respond to the following tasks found in the case study by using Excel. Your case analysis should consist of: Task A: Create a complete job description for the benefits manager position using O*NET. Task B: Calculate the job evaluation points for the administrative assistant, payroll assistant, operational analyst, and benefits manager jobs. Provide a rationale for assigning specific degrees to the various jobs. Task C: If there were any outliers (i.e., extreme data points) in the data, what would you recommend doing with them? From this point forward, assume no extreme data points exist in the dataset. Task D: Conduct a simple regression in Excel to create a market pay line by…
- Give an example of a compensation package a company can offer to ehnahce their current compensation package to retain employees in the compay . The package must include Paid Time off, sick leave benefits holiday benefits health insurance, pension plan. Please keep in mind the company has full time and part time employeesOn comparable positions, determine a pay range for each of the jobs or groups of jobs. what would be a compensation philosophy is (i.e. will there be base and variable pay and if so, at what levels?, if you are hiring at the low, middle or high end of the pay range and what are implications for doing so?). E-commerce Marketing Manager/Sales Division Manager/Senior IT Manager/Traffic Manager Returns/Inventory Processor Administrative HR Assistant/Mailroom Coordinator Marketing Director/Director of Supply Chains and LogisticPlease answer the following: 1. Describe Market-Competitive Pay Systems. Discuss why it is important for the organization to have Market-Competitive Pay Systems. 2. What is a "Compensation Survey"? Describe two types of surveys - custom-developed surveys and published survey sources.
- What are employee benefits? Explain how they are a major part of the compensation package. Review a current compensation package and determine if it is adequate and fair given the tasks needed in the job.Describe how organizations can build an equitable compensation system, using both internal consistency (job evaluations and pay grades), and external competitiveness (salary surveys, pay policy, pay rates, employee contributions). Share examples in order to illustrate your response.Why organizations use the Salary Surveys? Give Examples to elaborate your answer.
- Please answer the following: 1. What is job analysis? What legal issues the does company need to consider when it does job analysis? 2. Describe Person-focused pay plans. What are advatanges and disadvantages of Person-focused pay plans.Answer Question 1 (i) and (ii) 400 + 400 = 800 words Question 1 (i) Explain how would you lead a compensation team to design a market-competitive pay plan using different steps in details.**** 400 words (ii) Assume you are an HR expert, what key problems of HR functions? Explain. What do you propose to handle the situation Ethically? Try to mention specific tasks or tools if anything is relevant.*** 400 wordsWhat are the two critical uses of job analysis when applied to compensation? When conducting a job analysis, what is an advantage of conventional methods such as questionnaires and interviews?