Sometimes, companies choose to make adjustments to salaries or discretionary employee benefits. In best case scenarios, compensationprofessionals have successfully bargained for an increase in budget to fund adjustments. In other cases, adjustments are made within theexisting budget as is the case here. Making changes influence pay mixes when resources from one benefit are reallocated to increasing thefunding of others. For this scenario, compensation professionals are making calculations based on the current level of funding for thecompensation program.Employers' Hourly Costs for Full- and Part-Time Wages and Discretionary BenefitsFull-Time (5)Part-Time (5)10.461.460.610.390.270.19WageTotal discretionary benefitsInsurancePaid time-offRetirement and savingsSupplemental pay16.347.752.732.391421.21For a workforce of 1,700 full-time employees who work 40 hours per weeks and 850 part-time employees who work 22 hours per week, theweekly total compensation is $. Round your response to the nearest hundredths place.The company has decided not to contribute to a retirement and savings plan for part-time employees, so it will save $ on a weekly basis.Round your response to the nearest hundredths place.If the company eliminates paid time-off benefits for part-time employees, and increases paid time-off benefits for full-time workers by $0.50,the total weekly compensation for the entire workforce will be $ Round your response to the nearest hundredths place

Organizations and other businesses have a common relationship with customers that is generally…

Answered: Sometimes, companies choose to make…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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A) Ishwell Inc. is a growing company that just hired its 30th employee. Up until this point, they have offered single-coverage benefits to all full-time employees. They do not have a group plan, but rather they have purchased individual plans for each employee who needs insurance. The average age is 41, the average length of service is 5 years, the average salary is $75,000, and 70% of their workforce is women, and of those in the plan 60% of them are also covered under a spousal plan. They can decline applying for coverage if they wish. They are ready to consider adding a group plan. Using your HR knowledge, please respond to the following questions: Discuss whether or not Ishwell should move to a group plan?
Linking Individual with Unit and Organizational Priorities: Obtain a copy of the job description for your current or most recent job. If this is not feasible, obtain a copy of a job de- scription of someone you know. Then, obtain a copy of the mission statements for the organization and unit in question. Revise the job description so that it is aligned with the unit and organizational strategic priorities. Revisions may include adding tasks and KSAs important in the mis- sion statement that are not already included in the job description.
An overwhelming amount of compensation professionals (about 70%) use marked pricing as their primary method of job evaluation. True False
Discuss the advantages and disadvantages of a company of the three main forms of senior corporate executives' computation options.
Job Evaluation for Managerial Positions The Chairman of the board of directors of Jonadel Corporation has proposed that all managerial positions be included in the corporate job evaluating program. The idea came from several friends in other companies of the Chamber of Commerce and Industries where he is a member of the board of directors. The inclusion of the managerial positions in other company's job evaluation program has been found to be successful and helpful. There are differences in the pay systems based on the job evaluation and these companies and the chairman is convinced that these will work also with the company where the chairman is and has the greatest shares of stocks. tudy. In one of the special meetings of the Board of Directors, he proposed the idea to the chief operating officer. The chief operating officer said that the programs be held in abeyance until he had consulted his line and operating managers who will be affected by the changes due to job evaluation…
Kalam is an efficient worker who prefers security over recognition in a job. Which wage system is suitable for him?
You are offered two different sales jobs. The first company offers a straight commission of 7% of sales. The second company offers a salary of $390 per week plus 4% of the sales. How much would you have to sell in a week in order for the straight commission offer to be at least as good?
After selection of an Employee, the Human Resource Department has decided the following salary breakup: Basic Pay = Rs.150 (Per Regular hrs.) + Rs.200 (Per Week Bonus) NOTE: Employees’ regular working hours per week are 40hrs. If Employee’s working hours Per Week = 65hrs (40 regular hrs. 25 overtime hrs.) Then calculate the following: i. Calculate the actual regular pay rate per hour. ii. Calculate the overtime rate per hour. iii. Calculate the Total pay for a month
M6
The structure of your firm has two lower-level positions: an entry level position in which each employee receives a one year contract and a second level position (i.e., one step up from entry level) in which employees receive three year contracts. At the end of the first year, entry level employees undergo a formal evaluation that has three possible outcomes: a promotion to the second level position with a three year contract, a renewal of the one year contract for a second year at the entry level, or termination from the firm. At the end of the three year contract at the second level, employees undergo a similar formal evaluation resulting in either renewal for another three years or termination. The firm makes initial hires at both the entry level and second level positions. As the firm’s HR manager, you have a job applicant you are interested in hiring who has the resume qualifications of someone that you would typically hire at the second level position (with a three year…
what is the categories of employees (PCNs, TCNs and HCNs) in the HSBC company ? Compare the type of training and development for (PCNs, TCNs and HCNs) in the HSBC Does the HSBC company offer repatriation programs? If yes, identify the repatriation programs offered to employees. Which approach is followed for Compensation and Benefits in the HSBC company?
Develop a fair procedure that will be used to determine merit raises and then decide the dollar raise to be given to each professor. provide not only the dollar amount of the raises, but also explain the process fordetermining raises and the rationale behind them.SituationSmall State University is located in the eastern part of the United States and has anenrollment of about 8,000 students. The College of Business has 40 full-time and morethan 30 part-time faculty members. The college is divided into five departments:Management, Marketing, Finance and Accounting, Decision Sciences, and InformationTechnology. Faculty members in the Management Department are evaluated each yearbased on three primary criteria: 1) teaching, 2) research, and 3) service. Teachingperformance is based on student course evaluations over a two-year period. Service tothe university, college, profession, and community is also based on accomplishmentsover a two-year period. Research is based on the number of…

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