Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

This Assignment will involve the creation of a simple wage and salary program. You will complete this Assignment utilizing Excel. You will find the grading

This Assignment will involve the creation of a simple wage and salary program. You will complete this Assignment utilizing Excel. You will find the grading rubric for this Assignment following the case study.

Case Study:

This organization has over 10 different positions; due to the lack of having an HR professional who understands compensation issues, it is without any salary structure for the employees.

The job titles are:

  • Operator
  • Mechanic
  • Electrician
  • Supervisor
  • Administrative Assistant
  • Sales Professional
  • Sales Manager
  • HRM Manager
  • Operations Manager
  • President

Your task is to identify the ranking order of these jobs in the business based on least to most value to the organization.

This is accomplished by the following:

1. You will need to do some research at salary.com and benchmark these positions using regional data or national data and rank the salaries of the employees.

2. You can use an objective point system to assign points using compensable factors for the jobs as well.

3. Next, you will tally the points for each position and assign these jobs to specific pay grades.

Now you have created an example of how a compensation professional creates pay grades for internal consistency and external competitiveness.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Paul E. Dascher, Jerry R. Strawser, Robert H. Strawser, Ronald M. Copeland

8th Edition

0873937643, 978-0873937641

More Books

Students also viewed these Accounting questions

Question

I felt sorry for the clerk.

Answered: 1 week ago

Question

How would you rate Indra Nooyi using the Blake-Mouton grid?

Answered: 1 week ago