Reading from Compensation and Benefits 13 th edition chapters 1 – 10 Gerhart ,B ,.&Newman ,J.(2020).Compensation ( 13 th Ed ) . McGraw – Hill. Also You – tube videos on compensation and Benefits. From what you have read and heard about Compensation & benefits Answer the following questions :
1) what do you believe has caused the issue with the machine operator pay for the 28 employees between 10 to 15 years of service? List and discuss as many as you can think of.
2) what are the key issues that must be addressed in this problem as you think about developing your compensation strategy/plan ?
3) what should be done prior to taking any actions?
4) what are the key issues regarding internal equality? What are the key issues regarding the pay structure? Explain each.
5) what competitive market factors affect this company? Why?
6) how can you pay for a performance plan help in this situation? What type of plan would work to address the situation and why?
7) what are the key challenges that you faced working in a team and sharing one grade? As you think about your challenges as a team what are the implications in the workplace what companies use team-based pay incentives in general.
8). Would you consider using a team based incentive pay program for the machine operators? Why or why not?
9)what potential solutions would you recommend to the plant manager regarding making any adjustments to the 28th machine operators between 10 to 15 years of service now that you have thought through many of the challenges?
10) what are the implications to the business for each solution/recommendation?
(Prepare audio for the slides that you want to percent create a script for several slides. Record a script in the audio by going to insert, audio, record audio).
Submit a PowerPoint presentation in APA format.
Maximum 15 slides in length excluding the title & references page
At least two resources.
Information for this project
You are a new HR manager who has been hired to work for a manufacturing company called Smith industrial operations products Inc.(SIOP), which employees approximately 350 , makes industrial equipment, and has one plant located in connecticut. The company has a small profit margin of 10%. It is located in a small town near many midsize manufacturing facilities
Background-the company was started in 1970 by a small group of entrepreneurs engineers who developed a unique high-quality machine Assembly product that other manufacturers could not imitate (due to the high quality, the technical know-how, and the complexity of the process required to manufacture the product.) As a company grew it was acquired and sold several times by larger enterprises. Recently, the company was acquired by a small group of foreign investors. During the last acquisition, some of the original managers decided to become investors in the company to take control of the operation. As a result of all the changes in the business, they have been struggling to build their customer base, as well as recruit employees to regain that momentum they had in the past.
During the past 50 years that the company has been a business the manufacturing site remained in the same 15 mile radius of the original location, and therefore many other employees decided to continue to work there during these acquisitions. Some of the employees were laid off and then later were rehired. To encourage them to come back with equal benefits, the company kept their original higher dates. Turn over for the long service employees has been low, but turn over for the new employees is very high. There are numerous manufacturing businesses located within a 25 mile radius of the facility and many of these businesses need employees with the same skill set, so the competition for manufacturing labor is fierce.
The plant manager has requested to see you as soon as possible to help him address a compensation issue that he recognized with his machine operators. He indicates in his interview with you that he has a significant problem with a group of machine operators. Specifically, he tells you that he has 28 operators who have the service time between 10 to 15 years, and who he believes are underpaid and need an adjustment to their salary. You ask how and why he believes this has occurred. He does not know but says that you need to fix this fast are these employees will leave. you realize that this is a significant issue but need to understand the root cause and don’t feel comfortable just making the adjustments without data and analysis you ask how and why he believes it this occurred. He does not know but says that you need to fix this fast or these equations will leave. You realize that this is a significant issue but need to understand the root cause and don’t feel comfortable just making an adjustment without data and analysis. You ask her to give you time to assimilate and learn more about the organization and how this happened. You know that given and adjustment two 28 people add a 200 machine operators would not be a wide solution.
From your research and trying to understand how and why this issue has occurred, you discover the following;
The minimum wage in Connecticut increases each year. Each year, over the past four to five years, the minimum wage has gone up approximately 5.0%.
After reading the information and checking out the reading material and you – tube videos answer the previous Questions ,listed earlier 1-10
