C236 Task 1

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School

Western Governors University *

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Course

C236

Subject

Management

Date

Apr 3, 2024

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docx

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Uploaded by MagistrateStar15692

Compensation and Benefits – C236 Task 1 A. Revised Current Job-Value Structure Position Title Current Pay Rate Partner 1 $150,000.00 annually Partner 2 $150,000.00 annually Partner 3 $150,000.00 annually Brand Manager $125,000.00 annually Lead software designer 1 $120,000.00 annually Software designer 1 $117,220.00 annually Product Sales Representative 1 $115,500.00 annually Product Sales Representative 2 $95,500.00 annually Software designer 2 $90,100.00 annually Software designer 3 $90,000.00 annually Software designer 4 $85,000.00 annually Human resources manager 1 $75,900.00 annually Software designer 5 $75,897.00 annually Software designer 6 $70,000.00 annually Operations supervisor 1* $55,000.00 annually Customer service representative 1 $32.50 hourly IT technician 1 (help desk) $25.75 hourly Administrative assistant 1 - billing $24.50 hourly IT technician 2 (help desk) $21.10 hourly Administrative assistant 1 - general $19.65 hourly IT technician 3 (help desk) $15.50 hourly Customer service representative 2* $15.38 hourly Customer service representative 3 $11.50 hourly A.1 Justification of Salary Placement Brand Manager  According to the Market Rewards Survey, the Brand Manager and Marketing Manager would have similar job duties. To ensure we were able to fill the position with top talent, the decision was made to place the starting salary above the median to ensure we were competitive in the market. Product Sales Representative 1  This position is an entry-level job in sales management but does require more experience than others and a bachelor's degree, we placed the starting salary above the median again. Ideally, this would attract top talent who are better suited for a leadership-type role. Product Sales Representative 2  This position also requires a bachelor's degree and multiple years of experience and would require a high amount of travel. While the starting salary is below the median, it is above the 25 th percentile group to account for both experience required and travel requirements. This should help us remain competitive in the market.

B. Pay Grade and Ranges Table Pay Grade Positions Minimum Midpoint Maximum 5 C Suite/Partners $125,000.00 $155,000.00 $185,000.00 4 Managers/Lead Designers $100,000.00 $130,000.00 $160,000.00 3 Software Designers/Sales/Operations $75,000.00 $105,000.00 $135,000.00 2 CSR 1/IT Tech 2 $50,000.00 $80,000.00 $110,000.00 1 Administrative/CSR 2-3/IT Tech 2-3 $25,000.00 $55,000.00 $85,000.00 B1. Strategy to Address Original Salaries Apart from the CSR 3, all of the jobs fit within the pay ranges. To address this, the employees in this position will be offered other benefits. The ability to work remotely will be offered at first. Following one year in the position, addition PTO and tuition reimbursement will be offered. With the addition of these benefits, the company would remain competitive in the market and attract career-driven employees who are willing to grow with the company. B2. Justification of Pay Grades The goal of the company is to double its size in under a year. That can only be accomplished by retaining existing talent and attracting top tier new talent. Having positions at or above the median will help meet these goals. It shows that we pay for experience and performance and will foster the idea that employees are essential to achieving our goals. C. Variable Pay Options and Justifications Recommendation 1: Individuals in Pay Grade 1 will receive bonuses based on individual performance metrics such as attendance, survey results, etc. The bonuses are based on a percentage of their annual base salary. Justification 1: The employees within the lowest pay grade are not as likely to be aware of the overall wellbeing of the company as those at higher grades. A personal bonus based on their own performance will show that the company values them and invests in its employees. It will help them gain confidence and motivate them to perform at higher levels and drive loyalty to the company. Recommendation 2: Individual in Pay Grade 3 will receive departmental bonuses based on sales and overall company wellbeing. The bonuses will be paid out quarterly and will range from 3-10% depending on department. Justification 2: The jobs within this pay grade are higher skilled. They are responsible not only for sales but also for teams of people that directly report to them. Every position in this level has operational or sales responsibility, which already puts these employees into a mindset of caring for the overall performance of the company. Departmental bonuses will reinforce this and ensure that they care about not only their own teams, but their peer’s teams as well.

Recommendation 3: Individuals within Pay Grade 6 will be offered stock options once the company goes public. Justification 3: By offering stock options to the senior leadership of the company, you are ensuring that they are keeping the company’s wellbeing front and center. It will guide all of their decisions toward a growth mindset because they want to ensure the biggest return on their investment.

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