Note: Sample below may appear distorted but all corresponding word document files contain proper formattingExcerpt from Term Paper:
Your job now is to pull together all the information you've completed so far in class and make salary decisions for your team. You have completed Cathy's evaluation and received assignment feedback. This is the first year that you've made salary decisions for this team. Be sure to carefully review the information provided. You may simply type in the cells as the text will automatically wrap. You are required to:
Enter Cathy's appraisal rating (she is last on the list);
Within your budget dollars, make your salary decisions based on performance for your team taking into consideration their Salary Grade and the Pay Ranges identified for the Salary Grades (fill in the Salary Decision Column);
Within your budget dollars award bonus money (fill in the Bonus Dollars Column);
In the green line areas, provide your substantiation and risk analysis for the salary decisions made; and
Identify any items from this scenario in whole you may want to address.
Evaluation ratings are 1 = Needs Improvement to 5 = Exceeds Expectations
Salary Budget: $9,000
Bonus Budget: $5,000
Company Designated Salary Pay Ranges
A2 = $12,750 -- 17,000
A3 = 16,500 -- 22,000
A4 = 21,000 -- 28,000
% at Pay Scale*
John is a white male, 58YO, with 31 years' service. John is a good worker and you like him. You don't want to lose his skills and experience as he's been talking about retiring, but you realize his skills are too valuable to lose.
Substantiation and Risk Analysis: John with his breadth of experience will prove to be a good mentor to our younger employees, particularly Calvin who has a passion for the company. His skills and experience will prove invaluable during periods of high turnover and uncertainty regarding placement
Alice is a Hispanic female, 42YO with 17 years' service. Alice is a good worker. She has a lot of potential, which netted her the higher rating. She needs some more skills and experience at this level though.
Substantiation and Risk Analysis: Much like John, Alice's skills are very valuable to the company due primarily to her tenure at the position. Her bonus is lower as she may not possess the desire to grow and develop with the company. As such, she will be less inclined to be innovative or results oriented like our younger, more passionate recruits.
Calvin, 28YO black male with 9 months service. Calvin is a real go getter. He hasn't been with the company long enough to earn a higher rating, but his work is outstanding, high skill set and is looking to stay with our company for a career.
Substantiation and Risk Analysis: Calvin is receiving the addition raise because of his proactive nature regarding business operations. This proactive nature will help the company in numerous aspects throughout his tenure. His desire to stay with the company is also refreshing as our salary dollars are less likely to go to waste. A risk, with Calvin's youth, is that he may pursue other endeavors and leave the company. This provides a problem as his skills and insights, particularly through his unique culture, will be lost.
Jane is a 32YO white female with 12 years' service. Jane joined the company as an A3. Her work is satisfactory, nothing to brag about, but she's been with the company awhile and can be dependable.
Substantiation and Risk Analysis: Jane, much Alice seems to be complacent with her position. She is dependable but her skills have not improved to the degree of our other employees. Therefore, she should not get rewarded at the level our more proactive and developing employees are.
Beth is a 64YO Asian female with 41 years' service. Beth stated she would probably retire this year, but has yet to turn in her paperwork. She's had a history of higher ratings, but her ratings have slipped over the last 6 years.
Substantiation and Risk Analysis: As she is retiring, her raise was the least out of the entire group. The value proposition Beth can provide to the company is limited given her eventual retirement. Therefore, her raise will…[continue]
"Compensation Decision" (2012, August 30) Retrieved December 6, 2016, from http://www.paperdue.com/essay/compensation-decision-75339
"Compensation Decision" 30 August 2012. Web.6 December. 2016. <http://www.paperdue.com/essay/compensation-decision-75339>
"Compensation Decision", 30 August 2012, Accessed.6 December. 2016, http://www.paperdue.com/essay/compensation-decision-75339
Dental care under MCSS fee schedule for Ontario Works adults; Prosthetic appliances such as back braces, surgical stockings, and artificial limbs (provision, replacement, and repairs); Wheelchairs and repairs for the portion not covered through ADP; Hearing aids and batteries (co-payment under Ministry of Health and Long- Term Care's Assistive Devices Program (ADP) for the provision, replacement, and repairs to hearing aids); Vision care for adults; Dentures where deemed appropriate; Cost of completing other medical forms; and
Compensation Plan: The ability of a company to attract and retain the personnel it needs is partly dependent on its ability to provide competitive compensation packages. A company's compensation program is vital for its competitiveness since it's the basis for rewarding employee input. In order to ensure that the workers are effectively compensation, the firm should develop and establish an effective compensation plan. For the Department of Defense, there is need
Compensation and Benefits The United States Postal Service (USPS) which has been experiencing periods of stagnant or declining revenue was discovered to have a large issue with their compensation and benefits system. It was discovered that the organization provides its employees with lucrative packages which are much higher than those offered by its private sector competitors. Most of the USPS employees are unionized and the unions have been able to negotiate
Compensation is a sub-discipline of Human Resources Management and has become even more critical for organizations in the 21st century. Compensation, of course, is the salary or pay an employee receives from an organization and may fall into four categories: 1) Guaranteed Pay (fixed), 2) Variable Pay (Performance or results based); 3) Benefits (Medical, etc.), and 4) Equity-Based Compensation (Stock or organizational programs). There are many forms of compensation, many
Compensation Management Explain the job characteristics theory. How does it tie in with intrinsic compensation? Job characteristics theory was first introduced by Hackman and Oldham. Later on the basis of this theory, a job characteristic model was proposed which is also known as JCM. The theory focuses on five job attributes which helps in motivating the employees and make them feel satisfied at their job. The five job characteristics are as follows: Task
Compensation The current plan is a defined contribution plan, but the employees are not using it effectively. Many are heavily weighted in money market, and over 70% of employees are not even making contributions. Both of these problems need to be addressed. The first question that should be raised with senior management is whether to offer a defined benefit plan, rather than a defined contribution plan. Part of the reason that many
Compensation in Wachovia Bank's Base Employee Tier Bank Teller Pay Compensation in Wachovia Bank's Base Employee Tier Banking Industry Practices Retention Rates for Tellers Opportunity Cost for Promotion Enabling Cross-Selling Consideration of Drawbacks Compensation of tellers at Wachovia Bank is closely tied to turnover rates. Employee turnover is costly because resources must be expended to replace employees who leave. Recruitment and training can be expected to be approximately one-third of an employee's salary. In the banking industry, the