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Presenting pay structures for analysis is sufficient when the variety of job positions are categorized by pay grades. In doing so, the associated pay grades reflect a mean or average pay scale for a particular schedule payout salary. Further, the human resources department within a business organization provides pay grades and the mean average to the senior management of the department for determination to filling the open position now or later. Everything is dependable on budget constraints for the particular business department as well as the overall business operations.
Basically, the compensation analysis is imperative for senior management to decipher on selection, recruitment, and sustainability with employees as well as planning future future operations improvements.
- Let's take look at your attached case study:
1. Design one or more base pay structures that incorporate the job evaluation information and the salary information. To show the pay structures you design, draw a diagram of each pay structure you created and identify on the diagram the following elements:
o Market pay line(s) (you can draw a line that best fits the points, or use Excel or some other spreadsheet program to calculate the regression line),
o Pay policy line(s),
o Pay grades,
o Pay ranges,
o Where the jobs in the table are located in the pay structure (identify jobs by the letter in first column of the ...
The review in compensaion inquiry within a business environment for effectively managing finanical reporting for corporate initative.