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OLRN1100 Compensation Management

tag 0 Download 9 Pages / 2,200 Words tag 04-06-2021
  • Course Code: OLRN1100
  • University: Conestoga College
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  • Country: Canada

Question:

Based on your research answer the following questions: 
1. Are the job descriptions used in the company adequate, why or why not? 
2. What would you include or eliminate from the job descriptions? How would these additions or deletions improve the job description for the employee? 
3. Review the job evaluation and job analysis form used to evaluate these four jobs. Do you think the job evaluation is accurate? Why or why not? 
4. Describe the scores you would change for each job and provide an explanation for your recommendation. 
5. Provide a new Job Evaluation chart with the new totals for the positions you changed. You only need to focus on the four jobs of pharmacy manager, pharmacist, registered pharmacy technician, and pharmacy assistant. 
6. Based on the new totals, describe the compensation strategy you would recommend for each of the four positions. Include direct pay, indirect pay, and performance pay. State whether the performance pay you are suggesting, if any, is individual, team oriented, or organizational. Explain why. 
7. Determine if you would use market pricing, job evaluation, or pay for knowledge for your compensation with each of the four positions. You may suggest different methods for calculating compensation for different positions. Provide an explanation.
8. Recommend your new starting wage for each of the four positions. Discuss how you would 
increase the wages of the individuals and what the change in wages could look like over a three year period; therefore, indicate the starting wage for each position, then what that wage would like after year 1, year 2, and year 3. 
9. What other factors did you consider when recommending the starting wage rates? Would it be reasonable to consider a tiered starting wage range? Why or why not? 
10. Explain how your determination for wage rates in question 7 would place the competitiveness of the pharmacy in the industry. For example, would the pharmacy be leading, lagging, or matching compensation in the industry. 
11. Suggest key performance indicators that the company should use to measure the effectiveness of their compensation strategy for these four positions. 
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My Assignment Help (2021) Compensation Management [Online]. Available from: https://myassignmenthelp.com/free-samples/olrn1100-compensation-management/information-communication-and-technology.html
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My Assignment Help. Compensation Management [Internet]. My Assignment Help. 2021 [cited 28 November 2022]. Available from: https://myassignmenthelp.com/free-samples/olrn1100-compensation-management/information-communication-and-technology.html.


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