An employee is entitled with monthly salary of TK. 50,000. The company has a policy to provide 10 % yearly increment. If the performance of the employee and organizational performance are both excellent, what would be the employee awards according to merit-based pay plan? Please consider the following table to calculate the total increment in that year.
An employee is entitled with monthly salary of TK. 50,000. The company has a policy to provide 10 % yearly increment. If the performance of the employee and organizational performance are both excellent, what would be the employee awards according to merit-based pay plan? Please consider the following table to calculate the total increment in that year.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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An employee is entitled with monthly salary of TK. 50,000. The company has a policy to provide 10 % yearly increment. If the performance of the employee and organizational performance are both excellent, what would be the employee awards according to merit-based pay plan? Please consider the following table to calculate the total increment in that year.
Transcribed Image Text:The Employee's
Performance
The Company's Performance (Weight = 0.50)
Outstanding Excellent Good Marginal Unacceptable
Rating (Weight =
0.50)
Outstanding
1.00
0.90
0.80
0.70
0.00
Excellent
0.90
0.80
0.70
0.60
0.00
Good
0.80
0.70
0.60
0.50
0.00
Marginal
---
Unacceptable
---
--
---
---
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