Classification: Internal Use Question 1 Please prepare a short project on creating a compensation plan. Let to think you are starting a new business and as an employer you want to create it. Follow...

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Classification: Internal Use Question 1 Please prepare a short project on creating a compensation plan. Let to think you are starting a new business and as an employer you want to create it. Follow the following steps 1. Establish a pay philosophy 2. How much is your competition is paying 3. Set the salary level or hourly pay rate 4. Create incentive compensation plan component 5. Pay raises 6. Choose your payroll software Question 2 Case Study: CRB, Inc. A very small car restoration business (CRB, Inc.) is interviewing you for a position as its human resources manager on a part-time basis, working 20 hours per week, while you complete your degree. You would be the first HR manager they have ever been able to afford to hire, and the husband and wife owners (Al and Mary Brown) have been operating the business for 10 years. In addition to you, they recently hired a part-time janitor. This brought the paid staff to six full-time employees: a foreman who is responsible for scheduling and overseeing the work, two auto body repair workers, a person who disassembles and reassembles cars, a painter, and a detail person who assists the painter with getting the car ready to paint and sanding and waxing it afterward. Al Brown handles sales and estimating prices, runs errands and chases down parts, and envisions the future. Mary has been doing the bookkeeping and general paperwork. The owners and employees are very proud of CRB’s reputation for doing high quality work in the restoration of old cars made as far back as the 1930s. CRB pays its employees based on “flagged hours” which are the number of paid hours that were estimated to complete the work. (For example, the estimate may say that it will take three hours to straighten a fender and prepare it for painting. When the auto body repair worker has completed straightening the fender, he would “flag” completion of three hours, whether it took him two hours or six hours to actually complete the work. It is to his benefit to be very fast and very good at what he does.) CRB pays the workers 40 percent of what it charges the customer for the flagged hours; the other funds are used to pay the employer’s share of the taxes and overhead, with a small margin for profit. The foreman, who does some “flagged hours” auto body repair himself, is also paid a 5 percent commission on all the labor hours of the other employees, after the car is accepted as complete by the customer and the customer pays for the completed work. Employees are given feedback by Al, the foreman, and by customers on an infrequent basis. Right now, everything is going well and the employees are working as a team. In the past, the situation was less certain and some employees had to be fired for poor work. When an employee filed for government paid unemployment compensation saying that he was out of work through no fault of his own, CRB challenged the filing and usually was able to prove that Al had given a memo to the employee requesting improvements in quality or quantity of work. There has never been a formal planning or appraisal process at CRB. Mary Brown has read an article about performance management and is wondering whether CRB should implement such a system. Please answer her questions based on your understanding of this small business. 1. Critically assess whether a performance management system would work for such a small business. 2. Discuss benefits that such a system would provide for us as owners and for our employees. Question 3 List the strategic objectives/decisions/KPIs taken by your/any organization and identify/develop the training and development programs to achieve those strategic objectives. ANSWER: Sl no. Strategic Objectives/Decisions/KPIs) Training and development program's titles (you may suggest more than one program for each initiative) 1 2 3 4 5 6 7 8 9 10 Question 4 Develop a likert scale questionnaire to evaluate the effectiveness of current training and development programs in your organization. Question 5 CASE STUDY Naif Alrajhi Investment Company and Jones the Grocer announce brand expansion across Saudi Arabia Riyadh: Jones the Grocer, the Australian speciality gourmet (high quality or elite) food retailer and award-winning café, announces a broader expansion across the Middle East with a multiple store development deal across Saudi Arabia with Naif Alrajhi Investment. Naif Saleh Alrajhi, Chairman and Chief Executive Officer of Naif Alrajhi Investment company, said “We are delighted to partner with Jones the Grocer and its supreme offering to further expand and diversify our portfolio in the promising food and beverage sector. We are confident that Jones the Grocer will become a competitive dining destination due to the constant demand for quality and unique restaurants in Saudi Arabia.” Yunib Siddiqui, Chief Executive Officer of Jones the Grocer, said “We’ve come a long way since our first ever store in Sydney, Australia twenty-two years ago and our first opening in the Middle East in Abu Dhabi in 2009. We’re thrilled to be working with Naif Alrajhi Investment Company and look forward to building incredibly successful stores with their team across Saudi Arabia over the next few years.” The first Jones the Grocer flagship store is confirmed to be at the ground floor with access to the retail area of Fairmont Ramla Serviced Residences, Riyadh in an iconic new tower designed by world-renowned Tokyo architect, Nikken Sekkei. This site will feature gourmet grocery retail, a halal charcuterie(meat products), a bakery and patisserie(pastries) and Jones the Grocer’s hallmark artisan cheese-room which will set the benchmark for store design and gourmet food retail in the Kingdom of Saudi Arabia. In conjunction to the established Jones the Grocer formats the multi-store rollout across the Kingdom also encompasses the incredibly successful Jones the Grocer Express, a compact gourmet ‘grab and go’ offer tailored for high traffic travel and commercial hubs. Question: Conduct organizational, task and person analysis for the Naif Alrajhi Investment Company and Jones the Grocer partnership venture KSA
Answered Same DayMar 29, 2021

Answer To: Classification: Internal Use Question 1 Please prepare a short project on creating a compensation...

Tanaya answered on Apr 04 2021
137 Votes
Classification: Internal Use
Dear TAE, please I need your support to answer all below questions, and to send it before 4-Apr-2020
Question 1
Please prepare a short project on creating a compensation plan.
Question 1
Pay philosophy will be set on the following goals of the company:
    Developing a strategy
    This can be done by defining the talent and the level of competition in the market fo
r the position. It also involves understanding the type of reward that is required depending upon the strategies created.
    Creating pay ranges
    This will help in providing guidelines to the employees working on the pay scale based on the job’s market value.
    Upgradation of policies
    The policies will ensure that the compensation plan can be carried out according to what was intended.
    Clarification of processes
    These are the tactical steps that are created so that the organisation can follow the rules set by the company to meet its goals.
Question 2
In order to check how much the other companies in the market are paying the employees, it is important to carry out a rank signals strategy that will help in the determination of the competitor's fare in regard to the service. The survey which will be carried out will include the number of people that the organization employees, the type of functionalities the company handles and on that basis how much the company pays to the employees. Further, the skills and experience set possessed by the employees will also be evaluated so that according to the salary of one's company can be determined. If the salary that is provided to the employees are at least 10% higher, then employees will be satisfied and will also there will be a low turnover rate. Further, the employees will also work hard so that their productivity can increase in the organization.
Question 3
In most of the cases, it is observed that the hourly pay is given to the temporary employees and the part-time employees while the full-time employees are provided with salary based payments. Further, hourly pay can only be an effective solution when the work is done based on the time and their productivity depends on the amount of time they invest in the work. The productivity of this employee is directly dependent on the number of hours they put in in their jobs. In this case, the company will be keeping salary-based payment methods, rather than hour based pay rate. Since the work will require a nine to 5 shift with complete participation of the employee, handling work as well as client queries, the performance and payment can be determined on an hourly basis. Hence only a salary-based pay will be effective here.
Question 4
The incentive compensation plan will be made based on 5 steps. In the first step, the redesigning of the compensation plan is done and then feedback is taken from the top leaders so that the plan can be applied in the organizational functioning. Further, this will also include the leaders discussing with the employees the eligibility criteria for the compensations and incentives based on which the bonuses will be calculated. In the second step, all the task that is performed in the organization is aligned based on the goals and objectives of the company. This will ensure the employees are motivated to perform their duties so that they can acquire incentives and the profitability of the company increases. In the third step, the incentive policies need to be tied with finite goals. In the fourth step, the goals are set so that the goals can be stretched, the employees will be motivated to perform beyond their average performance so that they can achieve a bonus. The fifth step is the incentive plan needs to be adaptable. So that as with time the goals and strategies of the company change the incentive plan can adapt according to the change of the functionalities.
Question 5
The pay raises needs to be set based on the annual review and the profit made by the company. In order to made sure that the...
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