Market Data and Pay Grades and their Structures Name: Course: Tutor: Date: The Business Our business, Simply Sweet Six (SSS), is a pastry/dessert shop with headquarters in Savannah, GA. To help the business grow, we also have two store locations located in Roanoke, Virginia and Buffalo, New York…
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The desserts and pastries offered include pies, cakes, donuts, cupcakes, and many other treats. To differentiate our service, we offer personalization to include names, phrases, or exact matched colors. With this service, we are providing high quality personalized sweets and treats to our customers. Compensation Needs Direct compensation will be based on education and experience for each position. Thus, each position will receive different levels of direct compensation based on their job description. Directors, supervisors, and the human resources department will all be salary based. For indirect compensation, each will be offered medical, dental, and vision insurance and a 401k retirement plan. Other indirect compensation will include holidays, vacation, sick, and paid time off. To ensure employee morale remains high, merit pay increases offered based on work performance and incentives offered based on company performance. HR Mission Simple Sweet Six Corporation is dedicated to the provision of the highest quality of services to its clients while treating each person with value, friendliness, company pride, and a sense of warmth. To our employees: SSS is committed to providing its staff with equal opportunities for learning and personal growth in a working environment that is stable and favorable to all. We will provide quality services and support in employment, training and development, employee relations, benefits, compensation, and safety to all employees. This will help to better serve our clients. Lastly, the firm will treat each employee with respect, equity, and value within the organization. Job Profiles and Market Data and Analysis Human Resource Manager The human resource manager in Simply Sweet Six is responsible for managing the most important resources of the organization. The manager provides consistent, proactive and practical assistance to employees in addition to provision of advice and direction. The manager reports to the director while his/her services are to all managers in other departments on HR policies within the firm. Due to the requirements of the position, the HR manager is responsible for hiring and recruitment of employees in the organization. He/she also organizes employee training and designs a compensation systems for employees together with other management team members of the company. The employees’ database is developed and maintained by the HR manager. Specific responsibilities of the manager are as outlined in the next section. To define the strategy for learning and recruitment of employees in the organization, set high measures, principles, and provision of solution to HR issues facing the firm. Throughout his/her duties, the HR manager will provide pragmatic and consistent guidance to employees and giving them advices on resolution of conflicts, attendance and issues related to employee performance. The HR manger should identify practical solutions to practical and complex issues related to the management of human resources to the management of the SSS. The HR manager will compile and manage HR documentation for use by other managers. Moreover, he/she would brief other managers on HR policies adopted by the organization especially in relation to establishment of a winning team to solve complex issues within the firm. The HR manager liaises with the recruitment team in the organization in order to harmonize compensation issues related to each job category. In addition, he/she prepares the payroll data for
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(Market Data and Pay Grades and Their Structures Essay)
“Market Data and Pay Grades and Their Structures Essay”, n.d. https://studentshare.org/business/1392890-market-data-and-pay-grade-structure-and-pay-grades.
ABSTRACT DATA STRUCTURES Introduction A data type is acknowledged as an abstract data type when it is expressed in terms of processes on it, and its implementation is concealed (with the intention that it can be replaced with another application such as effectiveness purposes, as well as this will not change anything in the existing computer program).
al, 2011). Therefore, market structure affects the market outcomes by influencing opportunities, motivations and decisions of vast industries participating in the market. The aim of market structure analysis is to isolate the effects in an attempt to predict and explain the market outcome.
Therefore the market structures of an economy can be categorized under the following types. Perfectly Competitive Market In a perfectly competitive market there are a large number of buyers and sellers and therefore the equilibrium price and quantity in the market would be determined by the combined forced of demand and supply.
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Performance pay is a system of rewarding employees which is based on perceived out put often without clear measurement formula but which depends on the discretion of the supervisor or the line manager concerning the employee. Compared to other pay system performance pay is more complex and more difficult to implement.
In spite of being close substitutes, the products can be differentiated and advertising and branding plays a major role in this type of market. A large number of sellers exist in the market. The market structure is
Competitive positioning: Specific job function triggers a variation especially where the skills in need are rare. For an organization to retain such a skill, it might be forced to remunerate the person more handsomely than other executives in
In economics, market structure is the feature of a particular market in the economy. The features of a market can be organizational, competitive, or any other characteristics that define the commodity market. The yardstick that economists use in defining market structures is the pricing models and the nature of competition in a particular market.
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