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Designing a Pay Structure_Student_9.08.pdfProject:
Project:
The link to the left is your Student Workbook for this project. There are several tasks to complete that include developing elements of a Compensation and Benefits Package.
Outside Resources
Outside Resources
Project Deliverables
Project Deliverables
Designing a Pay Structure- Case.pdfDesigning a Pay Structure- Case
Designing a Pay Structure- Case
Task A: Create a complete job description for the Benefits Manager position using O*NET.
Task A: Create a complete job description for the Benefits Manager position using O*NET.
Appendix A is found on p. 17 of the Student Workbook.
Task B: Calculate Job Evaluation Points
Task B: Calculate Job Evaluation Points
Calculate the job evaluation points for the administrative assistant, payroll assistant, operational analyst, and benefits manager jobs. Provide a rationale for assigning specific degrees to the various jobs.
Use the template provided to develop your points method.
Appendix A is found on p. 17 of the Student Workbook.
Tasks c - G
Tasks c - G
Analyze the pay data from the surveys and generate weighted means for each benchmark job to use in future parts of the case.
Conduct a simple regression using Microsoft Excel/Google Sheets to create a market pay line.
Use the regression output (the slope and y-intercept), calculate the predicted market pay rate (using Excel/Sheets) for each benchmark job.
Adjust the market pay line based on the organization’s lead pay level strategy.
Tasks H - j
Tasks H - j
Task H: Create pay grades by combining any benchmark jobs that are substantially comparable for pay purposes. Clearly label your pay grades and explain why you combined any benchmark jobs to form a grade.
Task I: Use your answer to Task H to determine the pay range (i.e., minimum and maximum) for each pay grade.
Task J: Given the pay structure you have generated, consider the following:
Does this pay structure make good business sense? Do you think it is consistent with the organization’s business strategy?
What are the implications of this pay structure for other HR systems, such as retention and recruiting?
You've Finished The Project!
You've Finished The Project!
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