|University||Singapore University of Social Science (SUSS)|
|Subject||HRM313 Total Reward Design and Management|
HRM313: Total Reward Design and Management Assignment, SUSS, Singapore Examine and explain the total returns for work model as in pg 15, exhibit 1.5 (Total Returns for Work)
- Examine and explain the total returns for work model as in pg 15, exhibit 1.5 (Total Returns for Work) in the Compensation textbook (14th Edition)
- If you were asked to apply the total returns for work model in your company, conduct a Strength, Weakness, Opportunity, and Threat (SWOT) analysis to justify the application of the model.
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You are the new HR officer and your manager has asked you to review the job and salary structure in your company. In the past, they have just paid employees according to an estimate of market pay. Thereafter, salary increase followed the average pay increases in Singapore. Details of the jobs, number of employees and their salaries are given in appendix 1. Answer the following questions relative to the review on the jobs and salary structure:
- Propose a review process (internal alignment) to validate the job grades and pay for the jobs given in appendix 1.
- If the ranking order (JE) of the jobs were also aligned with the average market value of each job, develop a salary structure with the minimum, mid-point, maximum, range spread percent and mid-point progression data defined accordingly. Use the average pay as the mid-point value in each job grade.
- Explain the rationale for defining the mid-point value and the range spread for each grade.
- Determine the negative consequences of a poorly developed structure (job and salary)?
Using the data in appendix 1, provide answers to the following:
- Develop a competitive pay analysis (based on total cash basis) outlining the market pay variance for each grade and cumulative total.
- Considering the negative pay variance versus the market total cash pay, recommend TWO (2) alternatives to close the gap.
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