Assessment 4 Instructions: Reviewing a Salary Structure
- Review a salary structure, in 3-4 pages, for the company and job you used in the previous assessments.
Introduction
Along with the job analysis and job evaluation, companies must determine how they will structure their pay and which model is the most appropriate for their company. Companies also have to consider the competitive position of their pay policy. As an HR professional, it is important to understand the different pay structures, and the process of gathering and interpreting data to determine a competitive pay position. What does it mean to be competitive and pay a salary that is not only internally equitable, but is also externally effective at attracting and retaining the appropriate labor force for your business? This assessment challenges you to consider all the issues that go into that decision making.
Introduction
In this assessment, select the most appropriate salary structure for an organization. Use the same company you used as the focus in the previous assessments.
In 3–4 pages:
- Analyze the advantages of each of the three primary salary structures: traditional, broadbanding, and market-based.
- Analyze the disadvantages of each of the three primary salary structures.
- Analyze which salary structure would be the most effective for the organization and justify your reasons for your selection.
- Additional Requirements
Your assessment should also meet the following requirements:
- Written communication: Written communication is free of errors that detract from the overall message.
- Formatting: One-inch margins, appropriate headers, and a title page.
- Length: 3–4 double-spaced pages.
- Font and font size: Times New Roman, 12 point.
- Competencies Measured
By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and scoring guide criteria:
- Competency 1: Evaluate the importance of compensation and benefits plans in attracting and retaining the most qualified talent.
- Analyze the advantages of each of the three primary salary structures: traditional, broadbanding, and market-based.
- Analyze which salary structure would be the most effective for the selected organization and justify reasons for selection.
- Competency 4: Create a base pay and a base benefit plan.
- Analyze the disadvantages of each of the three primary salary structures: traditional, broadbanding, and market-based.
- Competency 5: Apply the Capella Writing Standards to support professional practice
- Convey purpose, in an appropriate tone and style, incorporating supporting evidence and adhering to organizational, professional, and scholarly writing standards