HR590: Compensation Decisions - Essay Example

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Your job now is to pull together all the information you’ve completed so far in class and make salary decisions for your team. You have completed Cathy’s evaluation and received assignment feedback. …
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HR590: Compensation Decisions
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"HR590: Compensation Decisions"

Download file to see previous pages Calvin, 28YO black male with 9 months service. Calvin is a real go getter. He hasn’t been with the company long enough to earn a higher rating, but his work is outstanding, high skill set and is looking to stay with our company for a career. A4 $26,500 94.6% 4 1500.00 500.00 Substantiation and Risk Analysis: With the short period of time the man has been with the company, he has shown higher than average skill sets and is valued as a long term investment. However, having only been at the company a short time, his salary can warrant no more than capping at this time and an equal portion of the appraisal rated bonus money. Jane is a 32YO white female with 12 years’ service. Jane joined the company as an A3. Her work is satisfactory, nothing to brag about, but she’s been with the company awhile and can be dependable. A3 $19,100 86.8% 3 700.00 200.00 Substantiation and Risk Analysis: Due to dependable service, Jane must be compensated, but not past 90% pay scale, as this would leave little incentive for improving overall performance. Beth is a 64YO Asian female with 41 years’ service. Beth stated she would probably retire this year, but has yet to turn in her paperwork. She’s had a history of higher ratings, but her ratings have slipped over the last 6 years. A3 $19,700 89.5% 3 100.00 200.00 Substantiation and Risk Analysis: Because her ratings are slipping, her performance does not justify an increase of her salary grade, which might have happened had she shown better overall performance. An increase that meets her maximum pay scale provides incentive to go ahead and retire, which may benefit the company as her position can then be given to someone who has a longer future potential with company and more enthusiasm...
Be sure to carefully review the information provided. You may simply type in the cells as the text will automatically wrap. You are required to:
1. Enter Cathy’s appraisal rating (she is last on the list);
2. Within your budget dollars, make your salary decisions based on performance for your team taking into consideration their Salary Grade and the Pay Ranges identified for the Salary Grades (fill in the Salary Decision Column);
3. Within your budget dollars award bonus money (fill in the Bonus Dollars Column);
4. In the green line areas, provide your substantiation and risk analysis for the salary decisions made; and
5. Identify any items from this scenario in whole you may want to address.
Evaluation ratings are 1 = Needs Improvement to 5 = Exceeds Expectations
Salary Budget: $9,000
Bonus Budget: $5,000
Company Designated Salary Pay Ranges
A2 = $12,750 – 17,000
A3 = 16,500 – 22,000
A4 = 21,000 – 28,000
Employee compensation and decision making
The total amount of increases comes out to a total of 8760.00. Two criteria were used to assess the percentage of the increase. Due to the budget, the increases were at twice the percentage of the review appraisal rating, such as a rating of 5 = 10%, 4=8%, 3=6% and 2=4%. The notable exception were those who only had a rating of 3 were given increases that brought them only up to the 90% pay scale as a merely adequate performance does not rate a pay scale that exceeds the 90% level. ...Download file to see next pagesRead More
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