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Team Recognizing Performance Presentation

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Team Recognizing Performance Presentation z Team A HRM/531 January 24, 2019 Professor Williams z Overview ▪ Our team is consulting with a local manufacturing company that has 1,200 employees and is the third largest employer in the area. When averaging all of the manufacturing employees' salary divided by the market midpoint, the organization has a 0.90 compa ratio, meaning that on average employees earn 90% of the market rate. z Agenda ▪ Discuss our three approaches for management to consider ▪ Discuss the proposed plan for each approach ▪ Make a final recommendation z Increasing Base Pay ▪ Base pay is the fixed rate that employees are paid for providing services ▪ Different employees in different levels are paid differently ▪ Some of the factors in determining base pay include position, job level, job role, and description as well as hours of service (Dessler, 2017) z Base Pay Increment Plan ▪ Conducting a survey ▪ Analyze the current employee base pay ▪ Evaluate people eligible for job promotion (Dessler, 2017) z Incentive Plan Background ▪ Primarily used to promote efficiency and productivity ▪ Enable organizations to produce targeted results ▪ 94%/53% of organizations offer short/long-term incentive (WorldatWork, 2018) z Incentive Design Program ▪ Job category (such as production or sales) ▪ Length of service ▪ Job classification (such as executive or administrative) ▪ The goal of the ...
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