Describe the type of pay structure

Reference no: EM133274929

Assignment - Compensation Management

Question Description - Describe the type of pay structure (merit, pay-for-performance, et cetera) that exists in your current workplace or a previous workplace.

How satisfied were you and other employees with this pay structure?

What improvements would you recommend to improve employee satisfaction with your workplace's pay structure?

Post comment to another student's post below:

Hello Professor Lewis and Class,

At my previous job, I was a salaried manager; I would work 45 hours to 55 hours a week from March through October and work 60 hours to 70 hours a week. I would receive pay whether I worked 40 or 80 hours, and during the holidays, we were required to perform a six-day work week. I worked every Thanksgiving. It was especially hard the last three years when my favorite Aunt was diagnosed with cancer. We always go to her home for dinner. I stopped before going to work, but the store started opening earlier and earlier until I could not make it any longer. At the end of each month, I would accrue 12 hours of personal time off.

At my present job, I am able, as a manager, to do overtime, I get time and half if I work on a holiday, and there is no six-day workweek. At my company, we are closed at Thanksgiving. For each pay period, I accrue 4.5 hours of personal time off.

While working at my previous job, I always felt that the pay structure needed work. The key holders, lead sales, and selling captains all were hourly. The hourly management was allowed overtime; however, over the years, the company began to rely more on salary management. It was less expensive to have salary management complete assignments than hourly. However, many salary managers became burnout and disengaged with the company. Our turnover rate was extremely high.

I would offer bonuses to the management team. During the holiday season, I would offer the assistant, sales, and store manager monetary funds, whether gift cards or a comp week. I think this will let them know they are valued and appreciated.

Reference no: EM133274929

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