Imagine that you own a small clothing store specializing in men's suits with gross revenues over $1,500,000
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Question:
Imagine that you own a small clothing store specializing in men's suits with gross revenues over $1,500,000 per year. You have a staff of five people, all of whom receive an annual salary:
- One buyer responsible for choosing and acquiring the store's merchandise (Exempt FLSA classification)
- Two salespeople (Non-exempt FLSA classification)
- One cashier (Non-exempt FLSA classification)
- One store manager (Exempt FLSA classification)
- Assume that your business strategy is to provide good quality, low cost suits, how would you allocate your $225,000 salary budget across these four positions (5 people) to best align your pay structure with your business strategy? Explain your decisions.
- Assume that your business strategy is to provide excellent customer service, how would you allocate your $225,000 salary budget across these four positions (5 people) to best align your pay structure with your business strategy? Explain your decisions.
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