Review all the attachments + the following instructions. A started rough draft is also attached, along with phase I completed – which was given a 98%.
ASSIGNMENT
1. Introduction – include an introductory paragraph (or two) to provide the reader (the President) context on what information you used to develop your proposal and what the purpose of the proposal (frame the issue and how you went about developing your recommended plan) – this was part of Phase I. Provide reader context regarding the company (size, location, business they’re in); explanation of the information used to develop the proposal (handbook,
interviews, HRIS data, your own knowledge and experience). Frame the issues and how you went about developing your recommended plan
2. Describe the Major Issues: Briefly describe the major issue (from Phase I with any additions or corrections) remember there are three. Briefly describe each using proper terminology and defining your terms (remember, your president is smart, but doesn’t know all the technical jargon related to compensation).
3. Describe your recommendation for Addressing the Major Issues: Describe what your approach is to addressing the major issues and why you believe this will help address these issues.
4. Develop and describe a logical and defensible Pay Philosophy how is it derived (from organization’s strategy), what level of pay will you target, and will you have the same policy/target for all positions or differentiate, e.g., pay 60-75th percentile for our key positions, and 50th percentile for all other jobs (see Ch 7 & 8 presentations and text materials.
5. Develop and describe Pay Policy (see Ch 7)
• Pay level policies: lead, match, lag the market
• Pay mix strategies: mix of base, incentive, benefits, stock
6. Develop a Pay Structure: Explanation in detail how you developed your pay structure (this is a significant part of Phase II).
• Explain how did you determined your job worth hierarchy (internal alignment)
• Explain how did you evaluated the worth of jobs in the company (job evaluation) – what method did you use
• Explain what market data did you used and why
• Explain how did you mapped the Wellborne jobs to the jobs in the market data
• Explain what data did you used and how you started to build your pay structure (think about the process of building the first pay structure and explain what data you
used and the steps to developing the midpoint); describe and show the process and math for developing one pay grade
• Explain how did you calculated the midpoints, minimums and maximums
• Explain how you applied range widths, what range widths are and why you used the range widths you did
• Explain how did you aged the market data and why is this important
• Discuss how you determined the pay grade for jobs that had no market data
• Discuss any jobs that might have titles that aren’t aligned with the job duties and how you determined where they fit in the pay structure and what the proper
benchmark job title might be more aligned with the job responsibilities
7. Complete the Pay Structure Template: submit your recommended Pay Structure using the template provided (remember to round the final numbers); this is a critical part of Phase II.
1. Develop logical pay structure, assigning pay grades and pay/salary ranges and list jobs are in which range, etc.
2. For pay grade calculate and show the minimum, midpoint and maximum
3. Illustrate & discuss Midpoint Progressions, Overlap and Range Widths & reflect the range width and midpoint progression on the template
8. Provide a summary statement and suggest next steps (foreshadow Phase III)
9. Writing Style: Use of correct technical terminology and compensation theory (did you define your terms when appropriate);
overall organization, clarity, succinctness; tone, professionalism and business writing standards.