Building an internally consistent compensation system

Assignment Help Operation Management
Reference no: EM13963980

In Section I, your compensation team will focus on building an internally consistent compensation system. As mentioned earlier, an internally consistent compensation system design will clearly define the relative value of each e-sonic sample job, creating a job hierarchy and an objective rationale for pay differences. Currently, e-sonic employs 100 people and will be hiring many more. However, for the purpose of this simulation, you are asked to work with the sample of jobs offered. Limiting the number of jobs removes one level of complexity from the simulation and allows your team to focus on learning the foundations o[ compensation system design. The framework you develop classifying sample jobs can easily be adapted in the future to include all e-sonic positions. Section Outline: A. Create Job Descriptions B. Create Job Structures C. Build Point Evaluation Method 1. Select benchmark jobs 2. Choose compensable factors based upon benchmark jobs 3. Define factor degree statements 4. Determine weights for each compensable factor D. Calculate point values for e-sonic jobs 1. Determine point values for each compensable factor 2. Use job evaluation worksheet to calculate point values for each position 3. Distribute points for each compensable factor across degree statements 4, Rate jobs using the point method 5. Individually rate jobs to ensure reliability 6. Resolve any discrepancies in point totals 7. Rank jobs in each job structure according to results of your point evaluation”( Student Manual-8).

Reference no: EM13963980

Questions Cloud

Describe your headway toward your educational goal : You have made an agreement with your parents ( or spouse, partner, relative, or friend) that you submit a progress report at this time. Describe your headway toward your educational goal.
Pharmaceuticals orders its antibiotics every two weeks : UDI Pharmaceuticals orders its antibiotics every two weeks (14 days) when a salesperson visits from one of the Pharmaceutical companies. Tetracycline is one of its most prescribed antibiotics, with average daily demand of 2,000 capsules. How many cap..
Customers to take and which to refer to other establishments : During busy times of the year, a hotel, convention center, or meeting hall may have more demand than meeting space available. When your demand for rooms is greater than the number of rooms you have available, discuss how a sales team would determine ..
Define what a project objective : In your own words, define what a project objective is? Provide an example of a good project objective. Why is it important to your company? What are the deliverables and milestones of your project? What approach or methodology did you use, and why?
Building an internally consistent compensation system : In Section I, your compensation team will focus on building an internally consistent compensation system. As mentioned earlier, an internally consistent compensation system design will clearly define the relative value of each e-sonic sample job, cre..
Many different skills-abilities that special event manager : There are many different skills and abilities that a special event manager must have to be successful. Choose three skills or abilities, or both, of a special event manager listed in the textbook. Conduct a self-assessment comparing your skills with ..
For sales professionals-familiarization trips : For sales professionals, familiarization (FAM) trips are very important to closing the sale with a meeting, convention, or exposition organizer. Determine five key strategies a sales manager would need to show a meeting, convention, or exposition org..
Tolerance analysis for a local car wash : You have conducted a zone of tolerance analysis for a local car wash. You find that the length of the reliability and responsiveness boxes are much greater than those of the other three service quality dimensions. You also find that the car wash is p..
Maturity stage of the product life cycle : Many marketers think personal computers in the United States are in the maturity stage of the product life cycle. What does this mean for manufacturers of personal computers? What can they do about it?

Reviews

Write a Review

 

Operation Management Questions & Answers

  How does the work breakdown structure differ

How does the Work Breakdown Structure (WBS) differ from the project network and how are they both linked?

  What are some capacity measures

What are some capacity measures for each of the following

  Non-tax benefits of qualified plans

There are many non-tax benefits of qualified plans. One of the biggest non-tax benefits of qualified plans is that contributions today can help meet future goals of financial security. Social security cannot be solely relied upon to meet retirement g..

  Identify the five facets of the company mission statement

Identify the five facets of the company mission statement. How can this company improve its mission statement?

  Calculated marginal profit for various costing profiles

You look at the Standard Test Procedure (STP) for this Diagnosis-Related Group (DRG) and discover that your hospital's cost is $2,400. Calculated marginal profit for various costing profiles.

  Explain how much more expensive is the next lowest cost

Explain how much more expensive is the next lowest cost option. For the optimal order quantity, illustrate what is the inventory position immediately after an order is placed.

  What are the ramifications of the aging workforce

The average employee in the United States is now 40 years old. Depending on your age you may view this in different ways, but one thing is evident, the workforce is aging. If you look at it historically, 40 is really on the high side. With this chang..

  Leadership experience

Read the Waite Pharmaceuticals case study found in Richard Daft’s book The Leadership Experience (link attached).  Daft Chapter 12 Ignore the last paragraph and assume that Lassiter has given you permission to make a presentation to the Board of Dire..

  Describe how organizations use various parameters

Examine, and provide examples of, the costs absorbed by organizations with respect to inventory and logistics. Describe how organizations use various parameters to monitor supply chain performance and provide examples.

  Identify marvel entertainment incs resources

Identify Marvel Entertainment Inc's resources, capabilities, and core competencies. Provide three findings of facts.

  Preventing security breaches in businesses

Write a 350- to 700-word summary of the discussion your team had about preventing security breaches in businesses in Week

  Uses the situational leadership method to resolve issues

Do you know a leader who formally uses the situational leadership method to resolve issues? How does this leader handle the potential for being labeled "inconsistent" with regard to style? Would you recommend the leader adopting a different style, sa..

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