You are the compensation manager for a growing manufacturing company. The CEO has decided that the company needs to have a formal pay structure, something they have not had in the past. Explain the specific steps you need to take to create a new pay structure. Include recommendations for each step.© BrainMass Inc. brainmass.com October 17, 2018, 12:37 pm ad1c9bdddf
An organization that has a salary structure in place allows the organization to appropriately compensate their employees, classify job roles, properly coordinate budgets, and ensure that the organization has the financial room necessary to grow in the future.
First, all positions within the organization should be evaluated and job descriptions should be written for each position. Each position should have a list of responsibilities and titles that are ...
This solution describes the specific steps for creating a new pay structure.
When and why do you think it is appropriate for a family-owned company to create a formal pay structure with job descriptions and salary ranges?
Based on research regarding base pay and the regulations governing equal pay, when and why do you think it is appropriate for a family-owned company to create a formal pay structure with job descriptions and salary ranges? At the opening of the business? After one year in business? When you employ enough people to fall within federal acts governing equal pay? And, do you think this pay structure should be public knowledge? Write a short essay on what you feel is appropriate. Imagine that this paper will be circulated to all the top managers for your company.View Full Posting Details