Fundação Getulio Vargas Methods for Rewarding Individual Performance Research Paper Compensation Project 1- Using the information from Chapters 3, 4, and

Fundação Getulio Vargas Methods for Rewarding Individual Performance Research Paper Compensation Project

1- Using the information from Chapters 3, 4, and 5, develop your method(s) for rewarding individual performance for the jobs in your organization.Be sure to justify why you chose the methods that you did and how you think it will help your company to achieve its strategic goals and properly motivate employees.
2- Using the information from Chapter 8 and part 3 of your project, develop a pay structure(s) for your organization.Be sure to explain why you grouped certain jobs together and why you picked the pay ranges/spreads that you did. Also explain your strategy for dealing with red circle and green circle employees
just these 2 instructions

I attached you part 3 cuz you will need it for that

In the part 3 for i got 40 out of 100

these are the notes from the doctor

1. Pay Strategy is all about whether you will be leading, matching, or following/lagging the average pay of your competitors. (5/10)

??????????????????????2-4. ??Where are the Excel files and equations for your pay. You did not provide an pay line formula to use to determine other salaries plus you did not use your benchmark salaries provided. ????????????????

the document named “compesation plan 12” is the part 3

i think you should have used the excel file for part 3, this one, I will attached when the question is assigned

you don’t need to edit part 3, but you will use the pay line you did on part 3

Btw i think you should have used the Excel for part 3,

Look at the doctor’s notes about part 3 ? Rewards
for partially or completely attaining
a predetermined work object
? One-time payments that do not roll into base
pay
? Based on 3 assumptions:
?
?
?
Individuals and work teams differ in how much
they contribute to the company
Company’s overall performance depends on
individual employee and group performance
Need to reward employees on how their
performance relative to others.
? Individual
Pay
? Group
? Organizational
? Directly
reward individual performance
? Can be used when:
?
?
?
Performance can be measured objectively
Employees have sufficient control over work
outcomes
They do not create unhealthy or unnecessary
competition between employees
? Be
sure to monitor BOTH quantity AND
quality
? Piecework
?
?
?
plans
Paid by the number of items produced
Can create a baseline/minimum target
Base hourly wage + incentive
?
?

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