CHAPTER 8 DESIGNING PAY LEVELS‚ MIX AND PAY STRUCTURES LEARNING OBJECTIVES 1. Identify the major decisions in establishing externally competitive pay. 2. Describe the purpose(s) of a salary survey. 3. Discuss the importance of defining the relevant market in a pay survey. 4. Explain the steps involved in designing a pay survey. 5. Describe the key issues involved in interpreting the results of a pay survey. 6. Explain how the market pay line combines the internal structure with external market
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HRM – 300 The decision of which internal pay structure to use and the process used to design it matters greatly to an organization. “Research suggests that attending to the fairness of the design process and the approach chosen‚ is likely to achieve employee and management commitment‚ trust‚ and acceptance of the results” (Milkovich‚ Newman‚ & Gerhart 2011‚ pg.150). There are two types of approaches; job-based and person-based (which is split between skills and competency). Job-based
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Behavior & Leadership The Effect of Pay Level Structure on Job Satisfaction Prepared by Rana Nissan Doris Bou Abdou Freddy Khoury Presented to Dr. Dory Daw 2013 Pay Level Structure The Pay level Structure should be balanced between internal equity (how much the job is worth to the organization) and external equity (to what extend the pay of the organization is competitive relative to what it’s paid elsewhere in its industry). The best pay system is to pay on the basis of job worth to the organization
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Range of grade and pay systems / structures‚ their ‘fit’ for organisational context and link to strategy 1. Pay structure (3 or 4) Broad-banding Job family Spot rates 2.2 Performance Appraisal Armstrong (1998) points out that the performance appraisal schemes is essential for organization which often contain ratings of performance factors‚ such as volume‚ quality and knowledge of work‚ dependability‚ innovation‚ staff development and communication and an overall rating. Clive
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1. Describe the orchestra’s pay structure in terms of levels‚ differentials and job- or person-based approach. The orchestra’s pay structure has many different levels‚ which is structured in a hierarchal nature. The differentials‚ which indicate the pay differences among levels‚ are evidenced by the fact that those that play instruments that are more highly valued are paid more. Typically‚ the positions that add more value or require greater skills are paid more than others. Since‚ there is a comparison
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Designing a Pay Structure Bianca Humphrey Indiana Wesleyan University Course Instructor 11/07/2014 I have read and understand the plagiarism policy as outlined in the syllabus and the sections in the Student Bulletin relating to the IWU Honesty/Cheating Policy. By affixing this statement to the title page of my paper‚ I certify that I have not cheated or plagiarized in the process of completing this assignment. If it is found that cheating and/or plagiarism did take place in the writing
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DESIGNING A PAY PLAN STRUCTURE ESTABLISHING A COMPENSATION PHILOSOPHY The first step in designing a pay structure is to establish/identify an organization’s compensation philosophy. During this phase of the design‚ it is determined where within the market the organization wants to position itself‚ i.e.‚ at market‚ as a leader in the market or lagging the market. Once this decision has been made‚ range penetration strategies must be determined. This phase of the plan design deals with how an
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The following in an analysis of the overhaul of the pay structure for the non-union jobs at HealthRx (the CEO position is also excluded). Our method for doing so follows the "Pay Structure" outline. Job evaluation points of relevant benchmark jobs at HealthRx are indicated in the column labeled (Points (X) on the attached Excel document. Market rates‚ from a pay survey analysis conducted by HealthRx‚ for jobs not included in case 2‚ are indicated in the next column. Rates from
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An orchestra is a large instrumental ensemble that contains sections of string‚ brass‚ woodwind‚ and percussion instruments. The term orchestra derives from the Greek ορχήστρα‚ the name for the area in front of an ancient Greek stage reserved for the Greek chorus.[1] The orchestra grew by accretion throughout the 18th and 19th centuries‚ but changed very little in composition during the course of the 20th century. A smaller-sized orchestra for this time period (of about fifty musicians or fewer)
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employees approximately 70 salaried and 50 hourly employees. Beginning in 1999‚ Martin Straight Compressors Chatham had begun facing numerous compensation issues and conflicts. Some of the issues included: Having 7 authorized but unfilled middle-level management positions Manager-employee relationships broken Documentation not up-to-date with objectives‚ processes‚ progress‚ performance plans Hourly staff don’t respect the owners Increased workload with no compensation Loss of commitment‚ motivation
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