...for the distribution of salary increases. Suppose you are employed in a local industry, and your supervisor has assigned you to distribute annual raises that must average 4% per department among 6 team members. No team member can get exactly 4%, and the raise must be at least 2% and no more than 6%. You may establish your own criteria for distributing the raises, but you are given the years of experience and the rating on annual performance reviews for each member. A performance rating of 1 is the lowest rating possible and a rating of 5 is the highest. Employee 1 has 4 years’ experience, a performance rating of 4, and a salary of $28,500. Employee 2 has 3 years’ experience, a performance rating of 4, and a salary of $28,500. Employee 3 has 10 years’ experience, a performance rating of 4, and a salary of $32,700. Employee 4 has 7 years’ experience, a performance rating of 3, and a salary of $31,400. Employee 5 has 15 years’ experience, a performance rating of 3, and a salary of $34,500. Employee 6 has 12 years’ experience, a performance rating of 5, and a salary of $32,400. Decide the amount of increase for each member. 1. Prepare your recommendations for your supervisor that includes the following: a. A table showing the original salary, the amount of increase, the new salary, and the percent of increase for each employee. See Table Below b. Show the calculations to verify that the total amount of increases is exactly 4% of the total...
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...expects to increase their employee population by another 300 people by 2016. The COO (Chief Operating Officer) of “We Care” has determined that there are a number of duplicate jobs and some jobs are obsolete based on the new business strategy. The COO would like to streamline the present jobs and create new ones that will support the new business strategy going forward. The goal of the Company is to be the leader in the home care services industry within five years. At the same time, the CFO (Chief Financial Officer) has determined as a result of the merger, the largest budget expense is in the area of employees’ salaries and benefits. She would like to reduce the salary and benefit expenses by 15% over the next 2 yrs. She is aware of the initiative to create new jobs which will support the new business strategy, but also needs to address the large expense items which appear in the budget. The Director of HR has selected you, a Compensation & Benefits Consultant to work on this “special” project which is to recommend which jobs should be eliminated and created to support the new business strategy. She would also like you to work with the “We Care” compensation team to determine the appropriate salaries for each of the positions at the company. And since, the CFO is looking to reduce the benefits cost, she recommends you work with the benefits team to determine which benefits should be offered at the Company. You will be required to present your results to...
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...#70 To: Wage & Salary Division From: Mary Wallace-Vice President RE: Request for pay increase/promotion Greetings Mary, After examining your case we would like to offer our support at ensuring that Susan Anthony has the best possibility of being given this position as a senior assistant. As you had stated she fits all the minimum qualifications and demonstrates herself to be a valuable employee. We would like to help you in whatever way you can to be able to place her in this job position. As you understand by our corporate guidelines, we will make sure that you are informed about this situation at it unfolds. Regards, HR Department In the circumstances of this case Susan Anthony fits the minimum qualifications for the job and it will just have to be verified that she knows how to use Adobe InDesign within a reasonable timeframe. To: Kelly Actor From: Wage and Salary Section RE: Request for pay increase Greetings Kelly, After reviewing the case presented before us, we have review our corporate policies and spoken to several members in our management team. Therefore, we know that you have been an excellent employee for this company and would like to offer you the chance at being promoted to an Executive Assistant position within our company. Additionally, we will not only match the salary being offered to you by the Wispette Company, but also offer a 15% increase to what you are currently earning. Moreover, we would also like to remind you about our excellent...
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...Item 1 To: Mary Wallace-Vice President From: Wage & Salary Division Re: Request for pay increase/promotion Susan Anthony sounds like she would be a good candidate for promotion. However, while Mrs. Anthony has the time in grade to be promoted, we require some more paperwork showing that she is proficient in the areas you have stated. Once we have received this paperwork we will be more than happy to endorse her for this promotion (Nkomo, Fottler, & McAfee, 2011). Additional Action: Follow up with Mary Wallace to make sure that the proper paperwork is delivered in order to promote Mrs. Anthony to Senior Assistant. Item 2 To: Kelly Actor From: Wage & Salary Division Re: Request for pay increase Mrs. Actor, while we value the years of loyal service you have provided the Mack Organization, we are unable to match the salary increase that you are seeking. The only increase that the company could consider giving you is a cost of living increase. If you send us your reviews, showing that you have received high review scores, we could then consider giving you a 3-5% cost of living increase based on the performance review ratings. Also sending us a letter of endorsement from your supervisor would be helpful in getting you this cost of living increase as well. Once again your continuous loyalty to this company is greatly valued, and appreciated, and we hope that you will consider this counter offer as long as all the paperwork is filled and meets the standard (Nkomo et...
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...Thompson MGT 521 August 22, 2011 Brian Fansler MBA: Why I decided to get an MBA degree Receiving my Undergraduate degree was one of my most proud moments in my life, I felt a since of accomplishment, responsibility, and acceptance. I just knew I was going to now be able to provide better for my family. That is why everyone around me said goes to college. Finish and graduate. A college degree can only help you and not hurt you. Well that statement can be a bit misleading, while yes a college degree won’t hurt you, it didn’t help me much either. I got into a situation that I had the degree but lacked the experience. Why didn’t anybody tell me to work as well? Get an internship? A mentor? I guess everyone had the misconception that college degrees grantee a good paying job; however, sometimes it’s not the case. I have come to say continuing education, even well beyond an undergrad, will not only help your career situation, but set a standard for your family and or kids, to always continue learning. Objection: An MBA will not guarantee a good job. It won’t guarantee a job, but what does? Having an MBA has put me more marketable with employers. Bryan Cohen argues that “First-year accountants with an associate degree made an average of $33,300 per year, while those with an MBA earned $39,800 per year as of April 2011 (Cohen, 2001). MBA open a world of big possibilities in a career field., The reason I decided, why not get my degree, is because I know it will pay off in the...
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...71-243 (03, 04) Fall 2014 ------------------------------------------------- Schukra Assignment Due Date: Wednesday, October 29th (at the very beginning of class, no later than 5 minutes after the start of class) Length: No more than six pages double-spaced with one inch margins excluding title page, references and exhibits. The final report must be submitted on the due date simultaneously in TWO WAYS: Submit as follows: 1) A traditional paper report (stapled, etc.) to be turned in at the very beginning of class on the due date, and 2) As an email to me in a single PDF file at mfields@uwindsor.ca. The papers should be in APA format and use at least five appropriate references (not Wikipedia or ask.com, etc.). Because some of the reports will be forwarded to Schukra, your student numbers should not be included on the electronic versions. You must submit your report using both methods in order to receive a grade for this assignment (electronic only submissions will not be accepted). Late assignments, at the instructor’s discretion, will either not be accepted or will be severely penalized. A selection of the best or most interesting reports will be submitted to Schukra for discussion at the workshop. The teams with the very best submissions may be invited to briefly (no more than 3 - 5 minutes) present a summary of their suggestions to the Schukra Team during their session. Workshop Date: Saturday, November 8th from 9:00-11:30 in Toldo Room 104 Schukra of North America...
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...Survey Paper The amount of experience, skills and the amount of success a player has in baseball may determine each player's salary in the major league baseball. This survey will help determine whether a players skills along with the team's consistency to win has an effect on being offered a higher salary versus the other teams in the MLB. This survey will be used as a tool that is designed to have survey-takers contribute opinions and suggestions so that a collection of data can be reviewed to determine whether the survey-takers are in agreement with the factors mentioned above is the result to higher salaries in the MLB. Specific variables will be used in the survey questions and the results will show how effective each question within the survey is. There will also be ethically constructed questions to assure there is a good quality survey. The Purpose The main purpose of the survey is to increase knowledge in whether higher paid salaries in the MLB correlates and has a relationship with a player's skills and the number of wins accomplished by the team. Arrangement and structure of the survey will provide a vast amount of information for survey takers as well as for the surver creator. The survey creator will gather knowledge along with important information on the survey takers opinions on this matter as well as ways to improve the effectiveness of the survey. Design This survey will contain 10 questions to help the creator of the survey, have a better understanding...
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...receiving your college degree, your annual salary as an assistant store manager is $50,000, you own a building that rents for $14,400 yearly, and your financial assets generate $5,000 per year in interest. On New Year’s Day, after deciding to be your own boss, you quit your job, evict your tenants, and use your financial assets to establish a pogo-stick shop. At the end of the year, your accountant gives you the following information: +20 pts * Total revenue = $180,000 * Expenses: * Cost of pogo sticks = $75,000 * Employees’ wages = $40,000 * Utilities = $6000 * Taxes = $7,000 * Advertising expenses = $7500 Answer the following questions: a. What are your explicit costs? My explicit cost are: Cost of pogo sticks = $75,000 Employee’s wages = $40,000 Utilities = $6,000 Taxes = $7,000 Advertising = $7,500 Total Explicit cost = $135,500 b. What is your accounting profit? My Accounting profit is: Total Revenue – Total Expenses $180,000 – (75,000+40,000+6,000+7,000+7,500) $180,000 - $135,500 = $44,500 c. What are your implicit costs? My implicit cost are: $50,000 Annual salary as an assistant store manager $14,400 yearly income of building rental $5,000 per year on interest earned on financial assets Total implicit cost = $69,400 d. Explain why the reasoning for considering these implicit costs – after all, you didn’t actually have to pay them in cash. You should consider implicit...
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...| | |PART FOUR COMPENSATION | | | | | |CHAPTER | |T Twelve | | | | | |Pay for Performance |12 | | |And Financial | | | |Incentives | | | |Lecture Outline | | | |Strategic Overview |In Brief: This chapter gives an overview of money | | |Money and Motivation: An Introduction ...
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...4: Making an impact with your covering letter ------------------------------------------------- Contents 1. Step one: Understand why a covering letter is important 2. Step two: Draft the letter 3. 1 Say why you're writing 4. TOP TIP 5. 2 Show that you're interested 6. TOP TIP 7. 3 Tell them why they need you 8. 4 Suggest an interview 9. Step three: Remember the essentials 10. Common mistakes 11. [N] You use a covering letter template from a book 12. You use the same covering letter for all your job applications 13. STEPS TO SUCCESS 14. Useful link When you send in your CV to a manager or recruiter to apply for an advertised vacancy or to let him or her know that you are looking for work, you'll normally send a covering letter too. If you're applying for an existing vacancy, your covering letter should briefly describe the position you're applying for and where you saw it advertised, why you are particularly qualified for the job, and why you want to work for that specific company. If you're approaching an agency to register your CV as part of your search for a new job, you should describe the type of job you're looking for, the skills you have that would make you an attractive candidate, your current salary, and any preferences you may have in terms of location. In all cases, a good covering letter can give a sense of who you are that may not come across in a CV. When you come to write your letter, remember to think...
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...Assignment 1 • Get more feedback – Share papers with other students – Talk to TA’s – Me • Key issues – – Too much description not enough analysis – Surface level versus deep use of concepts – Concepts are linked © James Berry 2013 2 Assignment 1 Lower grades – Little or no analysis: Mentioned concepts but failed to describe why they were relevant “There was a problem at my last job due to low motivation perhaps explained by expectancy theory” …go on about how expectancy theory might apply…where was the break-down…get specific – Missing obvious chance to apply concepts: “We had ten people all going in different directions” – Goal alignment – Vague or general terms: “We had a problem with communications” how and why was this a problem…did it effect motivation by breaking a link from expectancy theory or unbalance inputs and outputs. © James Berry 2013 3 Negotiations The Basics Dr. James Berry Lecturer University College London james.berry@ucl.ac.uk © James Berry 2013 4 Negotiation Skills © James Berry 2013 5 Objectives • • • • Briefly review what negotiation is Highlight why it might be important Review your BioPharm/Seltek negotiations Key things to know (BATNA, Reservation Price, ZOPA, Target Price) • Negotiate Case: Recruit © James Berry 2013 6 Negotiation is… • The process where two or more parties decide what each will give and take in the context of their relationship . . . © James Berry 2013 7 Negotiation is… • A bargaining...
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...individuals who speak a variety of languages. We at Herizon believe having the right talent, at the right cost is what keeps our company striving. Our total rewards program delivers values that attract, retain and engage a mixture of talent across the globe while maintain a solid value for cost. As a leading telecommunications company we take pride in not only serving our customers but, our employees too. This is why we take great pride in our total rewards program. We want to make sure that we attract the best to work for our company, by offering the best. Our total rewards system is geared towards all of our employees. We have structured a program that will meet the needs of everyone, our total rewards program offers diversity. We have developed a plan that will offer great compensation, along with career development, retirement planning, profit sharing, and work life balance. We want our employees to know that we are a one stop shop. Our total rewards program is geared to keep our employees and to grow them within our organization. We care about your future and we take pride in knowing that our people are taken care of. We follow the success of our employees from onboarding through succession and or retirement. By aligning all the components of total rewards with our overall business vision, we ensure that our workforce is on the same page. We at Herizon base our total rewards program only on what we can measure. Formulate a total rewards strategy to encompass...
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...shareholders, should the compensation committee of the board devote more to executive salary and bonus (cash compensation) or more to long-term incentives? Why? What role does each type of pay play in motivating mangers? The dimensions of the principal agent problem are: Principals lack of knowledge, skill, time than agent. The objective for principal and agent is difficult to align. Normally agent is looking for present value, principal is looking for long term return. Compensations committee should design a salary or bonus formula that can satisfy agent’s expectation. For example, if any investment decrease the present value but increase the long term value that should be considered to manager’s contribution and be reward in a monetary way. Therefor, manager would not radically to seek present value. The salary plays a role of manager’s daily work. The bonus plays a role of manager’s operation performance. Bonus should motivate manager’s decision for long term and short term consideration. • Problems 3 Corporate profitability declined by 20% from 2008 to 2009. What performance percentage would you use to trigger executive bonuses for that year? Why? What issues would arise with hiring and retaining the best managers? If the corporate profitability declined by 20% in 2008 to 2009, we need to look into not only the performance of company, 2008 is the start of global financial crises. The business environment is declining therefor should consider that...
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...their usage for particular job. Job evaluation is a systematic way of determining the value/worth of a job in relation to other jobs in an organization. The job evaluation has to be aligning with the job analysis in order to ensure a more internally consistent pay structure. This is one of the ways to ensure the equity among all employees in an organization especially in their pay structure. 2. What is your opinion on Joan’s view on job analysis and job evaluation? State your stand and provide 2 reasons related to the above scenario. Firstly, Joan thinks that Deborah’s suggestion is time consuming and it is very troublesome as it will involve many staff in the job analysis and job evaluation process, Joan also suggested to recruit more new staff which she think is a better suggestion compared to Deborah’s. In my point of view, suggestion from Joan is not helping to solve the problems. Due to the pay structure of the organization is not internally consistent, most of the employees will feel inequity and threaten by their employer, and this will bring to the increase of the turnover rate. Current staff in the organization will feel unhappy and unsatisfied for the pay rate provided by the organization even though they are...
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...410 Final Exam 1. (TCO 2) Name and explain or define the goals of the training and development function of HRM. (Points : 40) Question 2. 2. (TCO 7) You are the recruiter and hiring manager for the position of vice president of sales for a company that sells athletic shoes on the West Coast. This position carries with it a number of unique responsibilities, including managing a department of 250 part-time and 50 full-time employees, a budget-making requirement, responsibility for P & L for the department, extensive weekly travel, a master’s-level education (minimum), and at least 10 years of experience in sales and 5 years’ experience in management. The salary and benefits package is $250,000. Your boss asks you which method of recruiting you will prefer to use and why you will use it. What downsides to your recommended method exist? What is your answer? (Points : 40) Question 3. 3. (TCO 12) Describe three types of flexible benefits programs and state the one you would recommend be implemented. Why would you pick that one program? Provide at least one solid business reason why. (Points : 40) Sources: • Question 4. 4. (TCO 8) Evaluate Kirkpatrick’s four levels of training evaluation, and determine which level would be most appropriate for the average organization. Why is Level 4 so difficult to obtain? (Points : 40) Question 5. 5. (TCO 1) Which of the following human resource management specialties calls for collecting...
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