Reference no: EM133212785
Phase I - Formulating the Compensation Strategy
Your client firm has some underlying organizational issues that are causing problems. You need to identify these problems, analyze why they are occurring, and make structural recommendations that will address them. Note that your recommendations must be focused on the compensation framework and must include (among the rest of your recommendations) a pay for knowledge (PKS) plan for one group of employees, and the application of a job evaluation plan for the rest. Note that the requirement for a PKS plan is independent of your decision about the appropriate managerial strategy for your client!1 (Links to an external site.)
To be confident at resolving these issues you need to have read and understood the principles outlined in Chapter 1 through to 8. When writing your report please use the following Section headings:
Section 5 Job Evaluation Plan
You will be given a generic job evaluation plan to use as a starting point that contains some obvious "fatal flaws" that will be discussed in class. Your job is to modify the generic plan into one that can be used in your organization. The revised JE plan from your group will be an appendix in your report, but you will summarize the changes you made to the generic plan (along with the rationale for the changes) in this section of your report.
Section 5 products will include:
- The revised point factor JE plan with a rationale for changes made. You can make changes to the existing JE plan to suit your organization. For example, if no position requires a PhD under the Education subfactor, remove that level and reallocate the points!
- Each subfactor in your JE plan should have a minimum of 4-5 levels, except for working conditions which requires 3 levels per subfactor. Remember to customize the language in the JE plan to align with the job descriptions.
- An evaluation of all jobs that are covered by the JE Plan, and for which you have job descriptions for. Include these a summary chart.
This chart should be formatted as follows:
- Jobs sorted by total points high to low
- Column 1: Job title; Columns 2 to N, Job Factors and subfactors; last column: total points.
Remember to include your Peer Assessment sheet on the final page of your report - thank you.
1 (Links to an external site.) PKS plans are sometimes found in human relations and even classical managerial strategy environments as well as (and more commonly) in high involvement organizations.