Compensation Management Paper

Compensation HRM 450-470 Chapter 6

Assignment two 

• Lest consider that we are designing a salary structure to a caregiver using the point method technique.
• (Creativity in forming the compensable factors will be reflected on the overall mark).
• You may use the below table and add as much as compensable factors as you wish.
• This is an Individual assignment, due date is March 26^th , 05:00pm.

1. Benchmark jobs

Students should search for three job descriptions and based on them they choose the compensable factors.

Job description will be attached as appendix

2. Choose compensable factors based on benchmarks jobs

3. Define factors degree
4. Determining weight for each compensable factor.
5. Determine point value for each compensable factor
6. Step six, Verify factor degrees and point value

Consider whether the hierarchy of the job makes sense in the context of the company’s strategic plans

7. Job evaluation committee, Evaluate all jobs
8. How to calculate the highest salary & the lowest salary for this job? Taking into account 25 SR is per point.
9. Take the same table the salary got merit increased by 15%, how much the highest salary and the lower salary will be without changing the points
10. Assuming that the CPI of this year is 177 and last year 170, calculate the CPI of this year and calculate the new salary for the highest and the lowest.