Sign In
Not register? Register Now!
Essay Available:
Pages:
5 pages/≈1375 words
Sources:
Check Instructions
Level:
APA
Subject:
Management
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 21.6
Topic:

Internally Consistent Job Structures. Management Essay (Essay Sample)

Instructions:

Section 1 introduces you to the specification of internally consistent job structures. Through writing job descriptions, the development of job structures, and
both the development and implementation of a point evaluation method to quantify job differences objectively, you build the framework for internal equity.
In Section 1, you will focus on building an internally consistent compensation system. An internally consistent compensation system design will clearly define the
relative value of each e-sonic sample job, creating a job hierarchy and an objective rationale for pay differences.
As an e-sonic consultant, you are offered a sample of e-sonic jobs in Section 1. Currently, e-sonic employs 100 people and will be hiring many more. However, for
the purpose of this simulation, you are asked to work with the sample of four jobs offered (see Appendix 2 for sample jobs, located in the MyManagementLab
project tab). Limiting the number of jobs removes one level of complexity from the simulation and allows you to focus on learning the functions of compensation
system design. The framework you develop classifying sample jobs can easily be adapted in the future to include all e-sonic positions.
Section 1 Outline:
1. Create Job Descriptions
2. Create Job Structures
3. Build Point Evaluation Method
a) Select benchmark jobs.
b) Choose compensable factors based upon benchmark jobs.
c) Define factor degree statements.
d) Determine weights for each compensable factor.
4. Calculate Point Values for e-Sonic Jobs
a) Determine point value for each compensable factor.
b) Use the job evaluation worksheet to calculate point values for each position.
c) Distribute points for each compensable factor across degree statements.
d) Rate jobs using point method.
e) Individually rate jobs to ensure reliability.
f) Resolve any discrepancies in point totals.
g) Rank jobs in each job structure according to results of your point evaluation.

source..
Content:


Compensation System Design
Student’s Name
Institution Affiliation
Compensation System Design
Salary structures are an indispensable part of the operational compensation plans. Also, they play an essential role in ensuring that the pay ranks for different job groups are internally justifiable and are externally economical. Job descriptions are the foundations for developing job structures. A robust compensation package facilitates inordinate external competitiveness while employing and maintaining talent. It is a fundamental element to the success of any business as competence and consistency are extremely essential in the development and stabilization of any commerce transaction. A huge global market for digital content is available and every nation has an exceptional opportunity to acquire a share of these proceeds. For e-sonic, corporate infrastructures and reporting relationships must be established early enough in order to help with acquiring new talent for the available positions. 
Internally Consistent Job Structures
Internal consistency compares the value of every job within an organization against other jobs within the firm. The approach enables individuals to come up with job structures based on this comparison. The internal consistency concept began and became customary for a vast majority of organizations to develop an established pay scale for different similar positions in their firms. It is aimed at rationalizing pay in an organization to achieve internal consistency and equity (Lai, H. H. 2011). 

...
Get the Whole Paper!
Not exactly what you need?
Do you need a custom essay? Order right now:

Other Topics:

  • Fallowership and leadership 2 questions. Management Essay
    Description: Adversity and good opportunities are both necessary factors in the creation of a true leader. Knowing exactly how to deal with difficulties and bouncing back after a negative situation is a great determinant of a real leader....
    2 pages/≈550 words | APA | Management | Essay |
  • Supply Chain Plan Part 2. Materials Requirements Planning. Management Essay
    Description: A robust MRP will provide detailed and rich information that the company can use in such core functions as decision-making in management operations, planning, and production, and thus improve the overall efficiency of the company (Ke, Chen, Chen, Wang, & Zhang, 2020). ...
    10 pages/≈2750 words | APA | Management | Essay |
  • Article Review. Quantitative Models for Decision Course. What Is Data Science? What is a Dat. . .
    Description: The data science field is gradually becoming the most in-demand discipline in most sectors as it provides tremendous opportunities for experts to provide an edge in disrupting retail, healthcare, insurance, and banking industries. ...
    1 page/≈275 words | APA | Management | Essay |
Need a Plagiarism Free Essay?
Submit your instructions!