{"id":13340,"date":"2023-04-11T02:56:12","date_gmt":"2023-04-11T02:56:12","guid":{"rendered":"https:\/\/www.goodacademic.com\/blog\/questions\/compensation-phase-ii-paper-philosophy-pay-structure-plus-excel-spreadsheet-with-completed-pay-structure\/"},"modified":"2023-04-11T02:56:12","modified_gmt":"2023-04-11T02:56:12","slug":"compensation-phase-ii-paper-philosophy-pay-structure-plus-excel-spreadsheet-with-completed-pay-structure","status":"publish","type":"questions","link":"https:\/\/www.goodacademic.com\/blog\/questions\/compensation-phase-ii-paper-philosophy-pay-structure-plus-excel-spreadsheet-with-completed-pay-structure\/","title":{"rendered":"Compensation Phase II paper: Philosophy & Pay Structure – PLUS excel spreadsheet with completed pay structure"},"content":{"rendered":"

Review all the attachments + the following instructions. A started rough draft is also attached, along with phase I completed – which was given a 98%. <\/p>\n

<\/div>\n
ASSIGNMENT<\/div>\n
1. Introduction \u2013 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 <\/span>went about developing your recommended plan) \u2013 this was part of Phase I. Provide reader context regarding the <\/span>company (size, location, business they\u2019re in); explanation of the information used to develop the proposal (handbook,<\/span><\/div>\n
interviews, HRIS data, your own knowledge and experience). Frame the issues and how you went about developing your recommended plan<\/span><\/div>\n
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 p<\/span>resident is smart, but doesn’t know all the technical jargon related to compensation).<\/span><\/div>\n
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.<\/span><\/div>\n
4. Develop and describe a logical and defensible Pay Philosophy how is it derived (from organization\u2019s 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 <\/span>positions, and 50th percentile for all other jobs (see Ch 7 & 8 presentations and text materials. <\/span><\/div>\n
5. Develop and describe Pay Policy (see Ch 7)<\/div>\n
\u2022 Pay level policies: lead, match, lag the market<\/div>\n
\u2022 Pay mix strategies: mix of base, incentive, benefits, stock<\/div>\n
6. Develop a Pay Structure: Explanation in detail how you developed your pay structure (this is a significant part of Phase II).<\/div>\n
\u2022 Explain how did you determined your job worth hierarchy (internal alignment)<\/div>\n
\u2022 Explain how did you evaluated the worth of jobs in the company (job evaluation) \u2013 what method did you use<\/div>\n
\u2022 Explain what market data did you used and why<\/div>\n
\u2022 Explain how did you mapped the Wellborne jobs to the jobs in the market data<\/div>\n
\u2022 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<\/div>\n
used and the steps to developing the midpoint); describe and show the process and math for developing one pay grade<\/div>\n
\u2022 Explain how did you calculated the midpoints, minimums and maximums<\/div>\n
\u2022 Explain how you applied range widths, what range widths are and why you used the range widths you did<\/div>\n
\u2022 Explain how did you aged the market data and why is this important<\/div>\n
\u2022 Discuss how you determined the pay grade for jobs that had no market data<\/div>\n
\u2022 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<\/div>\n
benchmark job title might be more aligned with the job responsibilities<\/div>\n
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.<\/span><\/div>\n
1. Develop logical pay structure, assigning pay grades and pay\/salary ranges and list jobs are in which range, etc.<\/div>\n
2. For pay grade calculate and show the minimum, midpoint and maximum<\/div>\n
3. Illustrate & discuss Midpoint Progressions, Overlap and Range Widths & reflect the range width and midpoint progression on the template<\/div>\n
8. Provide a summary statement and suggest next steps (foreshadow Phase III)<\/div>\n
9. Writing Style: Use of correct technical terminology and compensation theory (did you define your terms when appropriate);<\/div>\n
overall organization, clarity, succinctness; tone, professionalism and business writing standards.<\/div>\n","protected":false},"excerpt":{"rendered":"

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 \u2013 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 […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","template":"","meta":[],"disciplines":[706],"paper_types":[],"tagged":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/questions\/13340"}],"collection":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/questions"}],"about":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/types\/questions"}],"author":[{"embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/comments?post=13340"}],"version-history":[{"count":0,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/questions\/13340\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/media?parent=13340"}],"wp:term":[{"taxonomy":"disciplines","embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/disciplines?post=13340"},{"taxonomy":"paper_types","embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/paper_types?post=13340"},{"taxonomy":"tagged","embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/tagged?post=13340"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}