Compensation and Benefits in Workplaces
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1. Southeastern Oklahoma State University is growing university, however, professor and employee turn over rate is becoming a major concern. They are currently working on their pay structure, should they conduct a survey for this? Support your answer.
2. CGI is planning to develop a next generation video card for gaming industry. The budget for multi-year research project is approximately 1 billion dollar. CGI is hiring from outside (Temp) and moving some internal employee (full time permanent) for the new projects. But company does not want to lose the key people or designers (software and hardware engineers) in the middle of the project. If CGI is designing the pay structure for the different work group, do they need different pay structure for internal and external employee and if they do/don't then what kind of issues needs to be resolved for these classes?
3. How can Compensable Factor Cube help to design competency based pay plan for a university?
4. Is it possible to implement merit pay for doctors in a private run hospital? What would be the impact?
5. In a very frequent employee turnover business such as a call center, what would be best possible short-term incentives to increase the quality and what should be the timing?
6. Solarium Inc. (IPO) is a two-year-old software development company. They did not provide any health benefit yet. They are planning to introduce health benefit and long term care benefit for their employees. However budgeted cost is soaring. What could be done by management do to benefits planning and design?
7. Identify and discuss potential compensation components offered to an employee of a US business who is being given the opportunity to take a job at a foreign work site.
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Solution Summary
Compensation and benefits are discussed. 1422 words, APA references.
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The response addresses the queries posted in 1709 words with references.
//Firstly, we have to understand the process of making pay structure. We should know about the Universities strategies to make the pay structure for their employees. This explanation will give you quite enough information to complete the answer. //
Pay structure in Southeastern Oklahoma State University
The pay structure of any job profile plays a significant role in attracting, stimulating and retaining the employees in the organization. The case unveils the turnover problem of the university and emphasizes that there is some problem with the pay structure. From the study, it is recommended that an internal survey on the universities pay structure should be conducted. The sample of the survey should include the employees who are currently in the job or have left the job as well as the employees who are expected to join the job. It is advisable that the survey should contain more of open ended questions on the expected pay structure of the job profile. This activity would surely help the management to know about the expectations of the employees and the reasons of employee turnover would also come into light. This will also assist the management in planning its pay structure budget in accordance with the job positions, each person's role in different job positions and the reason for differences in the compensation of employees (Gupta, 2007).
//As per the direction, now, we have to talk about the CGI planning and different kinds of standard pay structure. This explanation will helps you to evaluate the all types of pay structure and CGI planning in a deep manner. //
CGI and Different Pay Structure
The pay structure is the method of governing the pay philosophies of the organization. It is recommended that each of the internal and external jobs should be compensated differently in accordance with the jobs below and above it in a chain of command. The different groups are paid differently because the incentive and opportunity needs of each group vary according to the grade of each of the job. The key issues to be kept in mind while determining their pay structures are laying a transparent job description of each of the jobs, their designation and the extent of authority and responsibility, their roles in the processes and matching their pay structures with similar jobs in the industry. Apart from this, it has to kept in mind that the overall performance evaluation criterion of both of internal and the external employees should be the same. No discrimination should be made with the external employees. Also, the minimum and the maximum level of pay should be taken care of (Mangoria & Gankar, 2002).
//Above we have discussed about CGI planning; ...
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