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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.
Product 7.2 Production function Concepts. Indicate whether each of the following statements is true or false. Explain your answers.
A. Decreasing returns to scale and increasing average costs are indicated when Q<1.
B. If the marginal product of capital falls as capital usage grows, the returns to capital are decreasing.
C. L-shaped isoquants describe production systems in which inputs are perfect substitutes.
D. Marginal revenue product measures the profit earned through expanding input usage.
E. The marginal rate of technical substitution will be affected by a given percentage increase in the marginal productivity of all inputs.
Problem 7.3 Compensation Policy. "Pay for performance" means that employee compensation closely reflects the amount of value derived from each employee's effort. In economic terms, the value derived from employee effort is measured by net marginal revenue product. It is the amount of profit generated by the employee, before accounting for employment costs. Holding all else equal, indicate whether each of the following factors would be responsible for increasing or decreasing the amount of money available for employee merit-based pay.
A. Government mandates for employer-provided health insurance
B. Rising productivity due to better worker training
C. Rising employer sales due to falling imports.
D. Falling prices for industry output
E. Rising prevalence of uniform employee stock options