Examine The Structure Of Compensation

Examine The Structure Of Compensation

$20 Bonus + 25% OFF

Securing Higher Grades Costing Your Pocket?
Book Your Assignment at The Lowest Price
Now!

Students Who Viewed This Also Studied

HRMT 44008 Human Resources Management

Questions:

This assignment is focused on how a Compensation Manager or team will work to examine the structure of compensation across an organization. Students will demonstrate their ability and understanding of how pay mix and structures integrate with benefits and pay for performance plans. The idea of compensation budgets and administration is then applied by examining all of these in an organization and deciding on the possible compensation strategies for the future. 

Assignment Information 

• This assignment is primarily related to Chapters 9,10,11 and 13, but other chapters may apply. 

• NOTE: This information is related to the content in the final exam. Make sure you conduct a thorough analysis and completion of the questions, so you can be in a better position to prepare for the final exam. 

• SUBMISSION INSTRUCTIONS: This is an individual assignment, but it is strongly recommended to complete as Pair Group. If submitted as a Pair Group, only one person submits to the Assignment Box. Ensure both names are on the title page. A Pair Group agrees to a shared grade. 

Assignment Instructions:  

1.  Answer all questions based on the Super-Tech Chemicals (STC) scenario below. Marks are assigned on specific numerical values, visual representations, case facts, and use of course theory. 

2.  All percentage values must be rounded to ONE DECIMAL. All dollar values must be rounded to the next dollar amount. (Example: Universal rounding rules apply – i.e., 21.561% = 21.6% or $1,233.48 = $1,233 or $159.51 = $160] 

3.  You MUST use/apply COURSE THEORY (when/where appropriate) to assist with supporting and/or reinforcing answers provided to maximize full grades. Especially those that require compensation/business recommendations. 

4.  You MUST neatly and accurately show ALL calculation work (when/where appropriate and/or requested) to obtain full grade(s). There are no exceptions to this requirement. If there is no support, a grade of zero (0) is given. 

Super-Tech Chemicals (STC) is one of the leading Paint and Coating Protection Film company in North American responsible for the manufacturing of modern-day adhesives and coatings – including leading-edge research. The company is 14-years old and based on its recent company town hall meeting, has stated its strategic goal of wanting to become a 1.5 billion dollar company in the next four years from its current worth of 810 million. This would clearly make them a market leader and consistent with their “Pay-for-Performance” type of approach that tends to be consistent with the industry. STC revenues have started to stagnate this year (i.e., remained even or even a slight drop 1-2%) because of (1) an increase in new competitors, and (2) the influence of increased government monitoring and taxation on environmental mandates. Illustration 1 shows the progression of company results over the past few years.

The change in the market-space has made the “war on talent” in this industry much fiercer and more competitive. The need for talented and high-performing employees (Note: Especially in Product Development departments and specifically in Research Scientist positions) has been elevated because of the critical need to ensure quality products and efficiency in research as a monitored global-wide standard. This could literally mean the difference between bigger contracts and established patents on products used for future sales to major retailers; as well as large research projects from countries around the world to help with potential environmentally friendly products that potentially reduce greenhouse emissions. As a result, STC has had to “step-up”, “pay-up” and “work-up” (i.e., longer hours) to maintain aggressive recruitment practices nationally and internationally (as needed). As a result, STC’s compensation budget has exceeded by 5% each of the last two years (24 months) past their initial estimates.

 

You are the Compensation Director and have been asked to take on some important support and assessment functions for the CEO and founder of STC. You need to do in a department-by-department approach. First, you will re-assess the compensation structure in the Research Department. Next, you will work side-by-side with the new Director of the Research Department to complete a Pay-for-Performance merit allocation. Finally, you will complete a more comprehensive compensation administration breakdown using a cross-section of a few departments to gain a better perspective on the organization’s overall compensation structure and performance.

This will help make some early recommendations to the CEO and then a larger more robust plan for an organization-wide analysis next year. Here are some key company facts from your meeting that will be important for the completion of your work assignment. Use this information (as needed/where relevant) to complete the assignment: 

• One challenge as a result of this fierce competitiveness in the industry has been turnover; this needs to be further analyzed in the compensation figures for the upcoming budget and to HR for recruitment strategies: 

o There has been 17% turnover rate in Grade Level 5 jobs 

• Despite the turnover, the company has committed to a 3.0% merit increase for each department this year in all grades (except Executives). Executives received an 8% merit increase. 

• Executives receive a 10% lump sum bonus each year regardless of performance. 

• A 16% Benefit Expense factor should be used in determining the compensation budget. 

• Lump Sum bonuses at 5% were given to all Red Circled employees this year in fear of more turnover. 

• A bottom-up budgeting plan approach has been used, but the CEO has expressed concern about this approach. 

• All Level 1 employees were given an additional 1.5% to their Benefit Expense factor for the upcoming year to deal with Green Circles, as well as offer additional long-term health options as a result of the higher OH&S risks. 

• STC used the following minimum/maximum percentages with the corresponding points allocations values.

HRMT 44008 Human Resources Management

Answer in Detail


Solved by qualified expert

Get Access to This Answer

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Hac habitasse platea dictumst vestibulum rhoncus est pellentesque. Amet dictum sit amet justo donec enim diam vulputate ut. Neque convallis a cras semper auctor neque vitae. Elit at imperdiet dui accumsan. Nisl condimentum id venenatis a condimentum vitae sapien pellentesque. Imperdiet massa tincidunt nunc pulvinar sapien et ligula. Malesuada fames ac turpis egestas maecenas pharetra convallis posuere. Et ultrices neque ornare aenean euismod. Suscipit tellus mauris a diam maecenas sed enim. Potenti nullam ac tortor vitae purus faucibus ornare. Morbi tristique senectus et netus et malesuada. Morbi tristique senectus et netus et malesuada. Tellus pellentesque eu tincidunt tortor aliquam. Sit amet purus gravida quis blandit. Nec feugiat in fermentum posuere urna. Vel orci porta non pulvinar neque laoreet suspendisse interdum. Ultricies tristique nulla aliquet enim tortor at auctor urna. Orci sagittis eu volutpat odio facilisis mauris sit amet.

Tellus molestie nunc non blandit massa enim nec dui. Tellus molestie nunc non blandit massa enim nec dui. Ac tortor vitae purus faucibus ornare suspendisse sed nisi. Pharetra et ultrices neque ornare aenean euismod. Pretium viverra suspendisse potenti nullam ac tortor vitae. Morbi quis commodo odio aenean sed. At consectetur lorem donec massa sapien faucibus et. Nisi quis eleifend quam adipiscing vitae proin sagittis nisl rhoncus. Duis at tellus at urna condimentum mattis pellentesque. Vivamus at augue eget arcu dictum varius duis at. Justo donec enim diam vulputate ut. Blandit libero volutpat sed cras ornare arcu. Ac felis donec et odio pellentesque diam volutpat commodo. Convallis a cras semper auctor neque. Tempus iaculis urna id volutpat lacus. Tortor consequat id porta nibh.

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Hac habitasse platea dictumst vestibulum rhoncus est pellentesque. Amet dictum sit amet justo donec enim diam vulputate ut. Neque convallis a cras semper auctor neque vitae. Elit at imperdiet dui accumsan. Nisl condimentum id venenatis a condimentum vitae sapien pellentesque. Imperdiet massa tincidunt nunc pulvinar sapien et ligula. Malesuada fames ac turpis egestas maecenas pharetra convallis posuere. Et ultrices neque ornare aenean euismod. Suscipit tellus mauris a diam maecenas sed enim. Potenti nullam ac tortor vitae purus faucibus ornare. Morbi tristique senectus et netus et malesuada. Morbi tristique senectus et netus et malesuada. Tellus pellentesque eu tincidunt tortor aliquam. Sit amet purus gravida quis blandit. Nec feugiat in fermentum posuere urna. Vel orci porta non pulvinar neque laoreet suspendisse interdum. Ultricies tristique nulla aliquet enim tortor at auctor urna. Orci sagittis eu volutpat odio facilisis mauris sit amet.

Tellus molestie nunc non blandit massa enim nec dui. Tellus molestie nunc non blandit massa enim nec dui. Ac tortor vitae purus faucibus ornare suspendisse sed nisi. Pharetra et ultrices neque ornare aenean euismod. Pretium viverra suspendisse potenti nullam ac tortor vitae. Morbi quis commodo odio aenean sed. At consectetur lorem donec massa sapien faucibus et. Nisi quis eleifend quam adipiscing vitae proin sagittis nisl rhoncus. Duis at tellus at urna condimentum mattis pellentesque. Vivamus at augue eget arcu dictum varius duis at. Justo donec enim diam vulputate ut. Blandit libero volutpat sed cras ornare arcu. Ac felis donec et odio pellentesque diam volutpat commodo. Convallis a cras semper auctor neque. Tempus iaculis urna id volutpat lacus. Tortor consequat id porta nibh.

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Hac habitasse platea dictumst vestibulum rhoncus est pellentesque. Amet dictum sit amet justo donec enim diam vulputate ut. Neque convallis a cras semper auctor neque vitae. Elit at imperdiet dui accumsan. Nisl condimentum id venenatis a condimentum vitae sapien pellentesque. Imperdiet massa tincidunt nunc pulvinar sapien et ligula. Malesuada fames ac turpis egestas maecenas pharetra convallis posuere. Et ultrices neque ornare aenean euismod. Suscipit tellus mauris a diam maecenas sed enim. Potenti nullam ac tortor vitae purus faucibus ornare. Morbi tristique senectus et netus et malesuada. Morbi tristique senectus et netus et malesuada. Tellus pellentesque eu tincidunt tortor aliquam. Sit amet purus gravida quis blandit. Nec feugiat in fermentum posuere urna. Vel orci porta non pulvinar neque laoreet suspendisse interdum. Ultricies tristique nulla aliquet enim tortor at auctor urna. Orci sagittis eu volutpat odio facilisis mauris sit amet.

Tellus molestie nunc non blandit massa enim nec dui. Tellus molestie nunc non blandit massa enim nec dui. Ac tortor vitae purus faucibus ornare suspendisse sed nisi. Pharetra et ultrices neque ornare aenean euismod. Pretium viverra suspendisse potenti nullam ac tortor vitae. Morbi quis commodo odio aenean sed. At consectetur lorem donec massa sapien faucibus et. Nisi quis eleifend quam adipiscing vitae proin sagittis nisl rhoncus. Duis at tellus at urna condimentum mattis pellentesque. Vivamus at augue eget arcu dictum varius duis at. Justo donec enim diam vulputate ut. Blandit libero volutpat sed cras ornare arcu. Ac felis donec et odio pellentesque diam volutpat commodo. Convallis a cras semper auctor neque. Tempus iaculis urna id volutpat lacus. Tortor consequat id porta nibh.

27 More Pages to Come in This Document. Get access to the complete answer.

MyAssignmenthelp.com has a huge network of customers across the globe, especially from US, UK and Australia. Our customer base mainly comprises of college and university students who avail online assignment help in various academic subjects. We have a 3000+ PhD level expert writers team that provides assignment help services to students. You can avail academic assignment help like custom essay help, dissertation writing services or homework help from our company. Our brand is totally approachable through 24×7 live chat support facility handled by skilful staff. Our staff members can address all your assignment based queries. You just need to visit and register on our site.

More HRMT44008 HRMT 44008 Human Resources Management: Questions & Answers

Task:
Write a 1,000 word report explaining the process of recruiting, selecting and inducting new staff into your unit, team or division. …

View Answer

The case study analysis assessment requires you to apply theory to a realworld example. The case study will provide a description of a particular business problem, as a basis for critical analysis, review and evaluation. All students will be required to analyse the same allocated case study (availab …

View Answer


Task:
Hiring the right person for the right job is a key step in creating a successful and sustainable organization. But it is just the first step. Once employees have been successfully recruited they must be managed appropriately so that they will be motivated to stay and grow with the organizat …

View Answer

Task:
 
Summary of your career mentoring experiences, addressing one or more of these topics: career choice, job search strategies, resume or profile, networking, and lessons learned. Did you solidify your career choice or discover new careers of interest?
 
Did you learn new strategie …

View Answer

Content Removal Request

If you are the original writer of this content and no longer wish to have your work published on Myassignmenthelp.com then please raise the
content removal request.

Choose Our Best Expert to Help You





Jane Mac

I am a professor of social science in the University of Southern California.

450 – Completed Orders

Hire Me





Haidil Jiang

PhD in Law with Specialization in Civil Law and Aviation Law

1047 – Completed Orders

Hire Me

Still in Two Minds? The Proof is in Numbers!

33845 Genuine Reviews With a Rating of 4.9/5.

Assignment

Essay: 1 Page, Deadline:
19 days

Writer did a great job. Very informative and thorough. Very Impressive. Thank you.

User ID: 7***39 United States

Statistics

Programming: 2 Pages, Deadline:
1 hour

I am very Satisfied with the help I received. I Highly recommend them for any study help

User ID: 2***79 Pawtucket, United States

Management

Essay: 5 Pages, Deadline:
21 days

It is a good writing with reliable sources and meet the deadline earlier than I expected. Such a good job

User ID: 5***30 Canada

Mechanical Engineering

Home Work: 1 Page, Deadline:
27 days

Made a 69% but worked really hard! I think the option for 2 experts should be available.

User ID: 6***06 Atlanta, United States

Management

Essay: 6 Pages, Deadline:
6 days

excellent work done by the expert thank you really Appreciated it i am glad i trusted it

User ID: 4***83 London, Great Britain

English

Essay: 4 Pages, Deadline:
9 days

Very good paper, included everything and helpful. I got a grade on the essay, received a 100 on my paper. I highly recommend this website!

User ID: 6***89 United States

Marketing

Assignment: 10 Pages, Deadline:
11 days

Excellent job. Very timely. Customer service was top-notch. Even my lecturer was impressed.

User ID: 8***83 Canada

Management

Assignment: 7 Pages, Deadline:
9 days

I am very happy when I get marks I feel very verry good I got good marks thank u so much for helping me

User ID: 5***67 Canada

Project Management

Essay: 9 Pages, Deadline:
1 day

was a part of my programme management curs level 5 i passed it with 85% and that is soo good for me, thank you

User ID: 7***04 Birmingham, Great Britain

Management

Thesis: 1.8 Pages, Deadline:
6 days

Very good job I am very happy when I get marks I very very happy thank u so much for helping me

User ID: 5***67 Canada

Assignment

Essay: 1 Page, Deadline:
19 days

Writer did a great job. Very informative and thorough. Very Impressive. Thank you.

User ID: 7***39 United States

Statistics

Programming: 2 Pages, Deadline:
1 hour

I am very Satisfied with the help I received. I Highly recommend them for any study help

User ID: 2***79 Pawtucket, United States

Management

Essay: 5 Pages, Deadline:
21 days

It is a good writing with reliable sources and meet the deadline earlier than I expected. Such a good job

User ID: 5***30 Canada

Mechanical Engineering

Home Work: 1 Page, Deadline:
27 days

Made a 69% but worked really hard! I think the option for 2 experts should be available.

User ID: 6***06 Atlanta, United States

Management

Essay: 6 Pages, Deadline:
6 days

excellent work done by the expert thank you really Appreciated it i am glad i trusted it

User ID: 4***83 London, Great Britain

English

Essay: 4 Pages, Deadline:
9 days

Very good paper, included everything and helpful. I got a grade on the essay, received a 100 on my paper. I highly recommend this website!

User ID: 6***89 United States

Marketing

Assignment: 10 Pages, Deadline:
11 days

Excellent job. Very timely. Customer service was top-notch. Even my lecturer was impressed.

User ID: 8***83 Canada

Management

Assignment: 7 Pages, Deadline:
9 days

I am very happy when I get marks I feel very verry good I got good marks thank u so much for helping me

User ID: 5***67 Canada

Project Management

Essay: 9 Pages, Deadline:
1 day

was a part of my programme management curs level 5 i passed it with 85% and that is soo good for me, thank you

User ID: 7***04 Birmingham, Great Britain

Management

Thesis: 1.8 Pages, Deadline:
6 days

Very good job I am very happy when I get marks I very very happy thank u so much for helping me

User ID: 5***67 Canada

Have any Query?

QUALITY: 100% ORIGINAL PAPER – NO PLAGIARISM – CUSTOM PAPER
error: Content is protected !!