Reference no: EM131139624 , Length:
Milestone Section - External Competitiveness
Section two shifts your focus outside of the firm to understand its relationship with the external marketplace. You will use market survey data to compare pay rates of positions inside the firm with those in the marketplace to establish the foundations of market-competitive pay.
The analysis of market data also leads you to the determination of appropriate pay-policy mixes for each of its job structures. In this section, you are asked to use CompAnalysis software developed by Howard Weiss at Temple University, which is also available in MyManagementLab.
In Section two of this simulation, you will shift your focus from concentrating on e-sonic's internal consistency to its external competitiveness. First, you will be introduced to the tools compensation professionals use to allocate total compensation most effectively within job structures.
Many employees are unaware that their total compensation consists of much more than just base pay. Compensation professionals allocate total pay (for example, base pay, benefits, and different types of incentives) to motivate employees in different ways. You will use some of these tools to develop pay policy mixes for each e-sonic job structure. Next, you will consider pay policy level decisions for each job structure.
You will then use CompAnalysis (the included software program) to conduct an external market survey. Specific instructions provided with the software program will guide you through the steps involved in the compensation survey exercise.
Finally, you will report survey findings, interpreting regression analysis results generated by the software, and provide an explanation of major decisions reached.
Section 2 Outline:
Executive Summary Findings
1. Determine Appropriate Pay-Policy Mix
2. Pay-Policy Level Decisions
3. Compensation Survey
a) Choose competitors based upon industry, size, and union status.
b) Select benchmark jobs for each structure using benchmark job descriptions.
c) Reconcile differences using the benchmark job comparison sheet.
d) Update salary data for inflation using CPI-U.
4. Implementation of Salary Survey Results
a) Report and interpret results of regression analysis for each job.
b) Integrate external and internal structures by creating pay grades and ranges.
c) Evaluate and summarize decisions made for each job structure.
Follow the explanations and outline to complete this milestone. Section 2: External Marketplace is due at the end of Module Six.
Rubric
Requirements of submission:
Each section of the final project must follow these formatting guidelines: 5-7 pages, double spacing, 12-point Times New Roman font, one-inch margins, and discipline-appropriate citations.
Attachment:- companalysis.rar
|
Design detailed business plan for new product-service
: Design a detailed business plan for a new product, service, or business venture of your choice. This could be an idea you have been contemplating or a product presently being marketed, but your business plan must reflect the uniqueness of the idea.
|
|
Examine the work of a probation officer
: For this assignment, put yourself in the role of an investigative reporter for a nationally published magazine.- Describe diversion and probation and what they involve; include how they are alike, and how they differ.
|
|
How expenditures are controlled in the general fund
: Compare and contrast how expenditures are controlled in the general fund and in debt service funds. Explain why differences would occur.
|
|
Evaluation considerations and evaluation measures
: Leveraging Super bowl 2018 Minneapolis will be hosting Super bowl 2018. How would your business capitalize of the opportunity? How would you be able to maximize your profit? Evaluation Considerations and Evaluation Measures: Describe the process used..
|
|
Conduct an external market survey
: Conduct an external market survey. Specific instructions provided with the software program will guide you through the steps involved in the compensation survey exercise.
|
|
Examine the various methods of accounting for an investment
: Analyze the accounting requirements for consolidated financial information on the date of acquisition and subsequent to the date of acquisition. Examine the various methods of accounting for an investment in equity shares of another company..
|
|
The pros and cons would be to the hd firm
: Currently HD dealers order accessories, like luggage bags, and apply these components to the bike for the customer- it enables the dealer to build some relationship with the customer. If HD decided to perform all the customization work at their facto..
|
|
Describe what type of business and organizational
: Suppose you want to start a business and you have to decide on the best organizational form. Explain to classmates the purpose of the business and the reason you chose this business. Briefly describe what type of business and organizational form you ..
|
|
Story designed to teach or enforce a useful lesson
: What term is used to describe a story designed to teach or enforce a useful lesson particularly those with animals that behave like human beings?
|