Need help from an expert in employee compensation strategies with the following (500 words?) :
You have just taken over a position as a Compensation Analyst for an online global management consulting business, MGH.
1. 1. You have been asked to provide a basis for pay for a new employee: A new Management Consultant I (entry level based in San Francisco) 30 hours per week
Current paid salaries at the MGH Company:
1. Management Consultant II - $85,000 base
Create a word Document for the new employee position. Determine the bases for recommending the salary for the position. Show the bases, the salary or pay and justify the recommendation.
Go to the following sites as a start for your research:
http://www.salary.com/personal/-layoutscripts/psnl_resources.asp?-tab=psn&cat=cat009&ser=ser024-&part=par056&itab=performance© BrainMass Inc. brainmass.com September 20, 2018, 3:12 am ad1c9bdddf - https://brainmass.com/business/compensation-strategies/designing-compensation-pay-bases-594673
Hope you are well.
1. You have been asked to provide a basis for pay for a new employee: A new Management Consultant I (entry level based in San Francisco) 30 hours per week. Current paid salaries at the MGH Company:
Consider the starting range at mid-level for a management consultant at your company that seems to reflect an already established business entity. In most cases, the business organization already established in the targeted industry marketplace will have sufficient funding for the variety of department roles, i.e. Management personnel or consultant on a part-time or full-time role. In the case example, the role is of supervisor that reflects a needed for higher base pay with perhaps bonuses on successful metrics met accordingly to the business objective. The key performance metric is most often from Human Resources and the department senior leadership on setting goals that the employee has to make towards reaching the overall company's objective, i.e., the reduction in low productivity and ...
The review into the salary compensation model for businesses to successfully apply pay range.