About the consumer price index

Assignment Help Operation Management
Reference no: EM13967154

As the Compensation Manager for a company, you are evaluating the company’s pay raise policies. You have gathered the following data about the consumer price index (CPI) for your metropolitan area: Base Year: 1984 = 100.00 2014 = 138.70 2015 = 141.20 The average clerical wages in your company (that is, the average salary of all the clerical employees working in your firm in that particular metropolitan location) are as follows: 1984 = $18,000 2014 = $25,000 2015= $26,200 a. Many of your employees have complained that the wages have not increased in real terms and they are worse off than they were before. Has real wages increased or decreased? b. What rationale would you advocate to the employees? Based on the CPI trends, if you have to make adjustments to the wages, how much increase (or decrease) would you recommend? c. Based on the salary data given in question above, how much will be the contribution of this company to Social Security (employer contribution only), Medicare, and unemployment insurance? Show your calculations

Reference no: EM13967154

Questions Cloud

Will there be additional requirements and why : Recruitment Sites:Identify at least twoappropriate recruitment sites and how each would be used to identify the best candidates for this position
Describe the main issues and then your opinion about whether : Consult three recent articles (from newspapers, internet news sources, or business magazines) on executive pay. Using these articles, describe the main issues and then your opinion about whether (or how) executive pay practices should change.
Stockouts would not normally involve which type of cost : Stockouts would NOT normally involve which type of cost?
Understanding returns to scale : Determine whether the following production functions exhibit constant, increasing, or decreasing returns to scale.
About the consumer price index : As the Compensation Manager for a company, you are evaluating the company’s pay raise policies. You have gathered the following data about the consumer price index (CPI) for your metropolitan area: Base Year: 1984 = 100.00 2014 = 138.70 2015 = 141.20..
What is informed consent : What is informed consent? How does it contribute to the benefit of the participant? Is it possible to use informed consent and deception at the same time? Why or why not
Determining the compensation policy : "Pay for performance" means that employee compensation closely reflects the amount of value derived from each employee's effort. In economic terms, the value derived from employee effort is measured by net marginal revenue product. It is the amoun..
Human resources functions : Which of the human resources functions (ie. Recruiting, Training and Development, Performance Management, etc.) are affected by an organization's strategic plan? Demonstrate by giving an example.
Production function concepts : Indicate whether each of the following statements  is true or false. Explain your answers. Decreasing returns to scale and increasing average costs are indicated when EQ 1.

Reviews

Write a Review

Operation Management Questions & Answers

  Book review - the goal

Operations Management is about a book review. Title of the book is "Goal". This book has been written by Dr. Eliyahu Goldartt. The book has been appreciated by many as one of those books which offers an insight into the operations and strategic capac..

  Operational plan in hospitality enterprise

Operational plan pertaining to a hospitality enterprise is given in detail in the solution. The operational plan is an important plan or preparation which gives guidelines regarding the role and responsibilities of each and every operation at all lev..

  Managing operations and information

Recognise the importance of a strategic approach to the development and deployment of organisational information systems. Demonstrate an understanding of the importance of databases and their integration to the organisation's overall information mana..

  A make-or-buy analysis

An analysis of the holding costs, including the appropriate annual holding cost rate.

  Evolution and contributor of operations management

Briefly explain Evolution and contributor of Operations management.

  Functions and responsibilities of an operations manager

A number of drivers of change have transformed the roles, functions and responsibilities of an operations manager over recent years. These drivers have not only been based on technological innovations but also on the need for organisations to develop..

  Compute the optimal order quantity

Compute the Optimal Order quantity of DVD players. Determine the appropriate reorder point.

  Relationship to operations practice in the organisation

Evaluate problems in operations and identify approaches to overcoming them. Critically evaluate operating plans and identify areas for improvement. Justify, implement and evaluate changes to operations in line with modern approaches.

  A make or buy analysis

Develop a report for Figi Fabricating that will address the question of whether the company should continue to purchase the part from the supplier or begin to produce the part itself.

  Prepare a staffing plan

Prepare a staffing plan showing the change of your unit from medical/surgical staffing to oncology staffing.

  Leadership styles in different organizations

Ccompare the effectiveness of different leadership styles in different organizations

  Risk management tools and models

Be able to understand the concept of risk, roles and responsibilities for risk management and risk management tools and models.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd