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Compensation Management:Tools and TechniquesLee Kok Wai Lectures 4 and 5Lee Kok Wai Lectures 4 and 5Day-to-Day Operational FocusFuture/Strategic FocusPeopleProcessesStrategic HR PlanningHR as Business PartnerCulture and ImageStrategicPartnerStaffingOrganizationalDesignSuccessionPlanningPerformance MeasurementTraining&DevelopmentEmployee RelationsLabor RelationsEnvironment,Health,Safety&SecurityVOW Survey Action PlanCompensationBenefitsHR Information SystemsComplianceAdministrative ExpertEmployee Relations ExpertChange AgentHRs 4 Roles&Key AccountabilitiesHRs 4 Roles&Key AccountabilitiesManaging Human Resources in COMPAQCompensation Mgt.T-Comp philosophy&design T-Comp planning&admin.Incentive plans(MIPs/LTB)Profit-sharing scheme Reward&recognition prog.Expatriate mgt.Manpower Mgt.Headcount management Recruitment strategies Sources of labor supply Selection process&tools Retention strategies&plans Staff deployment Staff orientation Employee Relations Mgt.Benefits administration Code of conductðics Employee discipline Employee communications Staff social,sports&recreation Community services&relationsEHS&S Mgt.Environment mgt.Employee wellness Employee health services Loss prevention Asset management Safety mgt.Culture/Values Mgt.Corporate vision Corporate mission Culture building Teambuilding Habits buildingPerformance Mgt.(HRD)Staff training&development Succession planning Career planning Coaching&counseling Appraisal review/ranking Organization development Leadership developmentHuman Resource Admin.Records&information mgt.Personnel research HR policy review HR process improvements HR performance stds&audit Legal compliance Document control Strategic Components of Human Resources COMPENSATION MANAGEMENTWe believe in paying competitive wages that commensurate with job size and individual performanceWELFARE MANAGEMENTWe believe in being a firm,fair and caring employer.We strive to make employees value their jobs and want to remain in the organization based on their abilities to contribute and grow.PERFORMANCE MANAGEMENTWe believe in equipping employees with the necessary skills to do a good job,providing them with the tools,the environment,the support and the information needed to excel in their jobs.CAREER MANAGEMENTWe believe in matching employees strengths and aptitudes to available jobs,developing them to their highest potential and offering them opportunities to advance in their careers.CULTURE/VALUE MANAGEMENTWe believe in instilling our corporate core values and promoting a corporate culture that emphasizes results,teamwork,learning,sharing,service quality and work excellence.InternalequityExternalequityEmployeeequityAdministrationConceptsCompensation TechniquesPlanning,Budgeting,Monitoring,EvaluatingJobAnalysisJobDescriptionJobEvaluationJobGradesMarketDefinitionsSalarySurveysPolicyLinesPayStructuresSeniorityIncreasesPerformanceEvaluationIncreaseGuidelinesCompensation ObjectivesRole clarity and accountability.Facilitates administration and performance management.Competitive wage policies and practices.Influence employees workattitudes and behaviour.Attract talents.Retain talents.Motivate employees.Comply with regulations.Consistency in policyadministration.The Strategic Compensation ModelWhat is Job Evaluation?Job evaluation is a decision process of comparing one job with another job with the aim of establishing the relative importance of jobs within the organization.Job evaluation will provide an internally logical ranking of all jobs which will form the basis of the companys salary structure Principles For Job EvaluationqEvaluating the job,not the job-holderqEvaluating the present job,not the future jobqJob is being carried out in a fully acceptable and competent mannerqProcess of evaluation is based on given facts in the job descriptions.qEvaluate the job based on the“primary responsibilities”and ignore the“special personal-to-holder responsibilities.”Job Evaluation:3 Main MethodsqQualitative Method(an example is the Job Classification Method and the Job Comparison Method)qQuantifying the Qualitative Method(an example is the Point Method)qQuantitative Method(an example is the Guide Chart Profile Method)Job Classification Method adopted by Academic Institutions such as UniversitiesqJob Class A:Doctorate Degree with at least 10 years post doctoral experience plus relevant management experience(Faculty Head)qJob Class B:Doctoral Degree with at least 5 to 10 years post doctoral experience(Full Professor)qJob Class C:Doctoral Degree with less than 5 years post doctoral experience or Masters Degree with over 10 years post graduate experience(Associate Professor and Senior Lecturer)qJob Class D:Masters Degree with 5 to 10 years post graduate experience(Lecturer)q Job Class E:Masters Degree with 3 to 5 years experience(Assistant Lecturer)q Job Class F:Masters Degree with less than 3 years experience(Teaching or Research Assistant)Job Evaluation:The Point MethodJob Evaluation Process1.Form a Job Evaluation Steering Committee2.Draw up a workplan for the exercise3.Decide on the benchmark jobs4.Decide on the job factors for the evaluation5.Determine number of degrees for each factor6.Prepare job descriptions based on job-factor format7.Analyse each benchmark job in terms of factors and degrees8.Decide on the weights of each factor9.Determine the weighted score for each benchmark job10.Slot in all other jobs into the job gradesThe Point MethodForm the Job Evaluation(JE)Steering Committeea.The Steering Committee should be chaired by the CEO with functional Managers/Heads as members.The HR Manager should be the Secretary of the JE Steering Committee.b.If an external consultant is employed to assist in the exercise,then he should be designated as the advisor to the Steering Committee.The HR Manager should then double-up as the counterpart for internal skills transfer.Job Factor Score Sheet:Job#12FactorABCDEEducation20406080100Experience306090120150Interpersonal Skills1020304050Problems Encountered306090120150Size of unit supervised1020304050Decision Making306090120150Work Environment1020304050Impact of errors306090120150Contacts/Committees1020304050Assets Controlled($)20406080100Total Score=440 pointsThe Point MethodSlot all other jobs into the job gradesa.From the clusters,decide on the number of job grades to adopt.b.Slot in all other jobs into the job grades adopted.The Guide-Chart Profile:Hay MethodThis method,first developed by Dr Edward N.Hay in the early 1950s,is essentially concerned with decision making and responsibility.Guide Charts were created in 1951 in client situations.Emphasis was placed on answerability for the consequences of decisions,the degree of freedom to take decisions and bring them to fruition,the degree to which there is prime accountability,as compared to shared or contributory accountability in a job.The Guide-Chart Profile:4 Critical ObservationsThe Guide-Chart Profile:4 Critical ObservationsqThe most significant factor could be grouped as representing the knowledge required to do a job,the kind of thinking needed to solve the problems commonly faced,and the responsibilities assigned.qJobs could be ranked not only in the order of importance within the organization,but the distances between the ranks could be determined.qThe factors appeared in certain kinds of patterns that seemed to be inherent to certain kinds of jobsqThe focus of the process of job evaluation must be on the nature and requirements of the job itself,not on the skills or background or characteristics or pay of the job holder.The Guide-Chart Profile:Hay MethodThere are Three Factors with a total of eight elements which determine the value of different jobs.They are:1.Know-How2.Problem-Solving3.Accountability The Guide-Chart Profile Method:Know-HowWhat is Know-HowqKnow-How is the total of every kind of skill required for average acceptable job performance.It is knowledge and experience in professional,managerial and human Relations activities necessary to fulfill the job.qKnow-How is measured in depth by eight degrees and in breadth by five degrees The Guide-Chart Profile Method:Know-HowThe three dimensions of Know-How are:qPractical procedures,specialized techniques and knowledge within occupational fields,commercial functions,and professional or scientific disciplines.This is commonly referred to as the Depth of Know-How.qIntegrating and harmonizing simultaneous achievements of diversified functions within managerial situations occurring in operating,technical,support or administrative fields.This is referred to as the Breadth of Know-HowqActive,practicing person-to-person skills in work with other people.This is referred to as the Human Relations Skill.Depth Of Know-HowA.Education to post primary levelB.Practiced in standard work routines and/or use of simple equipment and machinesC.Procedural or systematic efficiency and use of specialized equipmentD.Specialized skill gained by on-the-job experience or through part professional qualification E.Understanding of theoretical principles normally gained through professional qualification or through a detailed group of involved practices and proceduresF.Seasoned proficiency in a highly specialized field,gained through experience built on theories or a broad and deep understanding of complex practicesG.Mastery of principles,practices and theories gained through wide experience and/or special developmentH.Unique command of principles,theories and practices The Guide-Chart Profile Method:Know-HowBreadth Of Know-HowI.Non or minimal Performance or supervision of jobs which have closely specified objectivesII.Homogeneous Integration of operations which are homogeneous in nature and objective,and coordination with associated functionsIII.Heterogeneous Integration or coordination of diverse functions or sub-functions in a company;or inter-company coordination of a tactical functionIV.Broad Integration of the major functions in an operating company;or group-wide coordination of a strategic function affecting policy formationV.Total The management of strategic functions and policy formation The Guide-Chart Profile Method:Know-HowHuman Relations Skills1.Basic Ordinary courtesy and effectiveness in dealing with others2.Important Understanding and influencing people,important but not over-riding considerations3.Over-riding Skills in developing and motivating people are over-riding considerations The Guide-Chart Profile Method:Know-HowThe Guide-Chart Profile Method:Know-HowGuide-Chart Profile Method:Problem SolvingWhat is Problem SolvingqThe use of Know-How required by the job to identify,define,and resolve problems.“You think with what you know.”This is even true for the most creative work.The raw material of any thinking is knowledge of facts,principles and means.For that reason,Problem Solving is measured as a percentage of Know-How.qProblem Solving has two dimensions:nThe environment in which the thinking takes placenThe challenge presented by the thinking to be done The Guide-Chart Profile Method Problem-SolvingThinking Environment A.Detailed rules and/or rigid supervisionB.Standard instructions and/or continuous close supervisionC.Well-defined procedures,somewhat diversified and/or supervisedD.Substantially diversified established company procedures,and general supervisionE.Clearly defined company policies,principles and specific objectives under readily available directionF.Broad policies and objectives,under general directionG.General policies,principles and goals under guidanceH.Business philosophy and/or principles controlling human affairsThe Guide-Chart Profile Method Problem-SolvingThe Guide-Chart Profile Method Problem-SolvingThinking ChallengeI.Repetitive Identical situations requiring solution by simple choice of things learnedII.Patterned Similar situations requiring solution by discriminating choice of things learnedIII.Variable Differing situations requiring searching,finding and selecting solutions within the area of things learnedIV.Adaptive Situations requiring analytical interpretive and/or constructive thinking.Judgment is requiredV.Creative Novel or non-recurring path-finding situations requiring the development of new concepts and imaginative approaches Guide-Chart Profile Method:AccountabilityWhat is Accountability?qThe answerability for action and for the consequences thereof.It is the measured effect of the job on end results of the organization.It has three dimensions:qFreedom to Act-is the extent of personal,procedural,or systematic guidance or control of actions in relation to the primary emphasis of the jobqJob Impact on End Results is the extent to which job can directly affects actions necessary to produce results within its primary emphasis.qMagnitude is the portion of the total organization encompassed by the primary emphasis of the job.This is usually but not necessarily,reflected by the annual revenue or expense dollars associated with the area in which the job has its primary emphasis.The Guide-Chart Profile Method-AccountabilityThe Guide-Chart Profile Method-AccountabilityFreedom To ActA.Prescribed Direct and detailed instructions,and close supervisionB.Controlled Established work routines and close supervisionC.Standardised Standardised practices and procedures,general work instructions and supervision of progress and resultsD.Generally regulated Practices and procedures which have clear precedentsE.Directed Broad practice and procedures covered by functional precedents and policies and managerial directionF.Oriented Direction Functional policies and goals,and general managerial directionG.Senior Guidance Inherently and primarily to direct top management guidanceH.Ownership Guidance Only to ownership review and public recreationImpactI.Very Small(under US$1M)II.Small(Between US$1M to US$10M)III.Medium(Between US$10M to US$100M)IV.Large(More than US$100M)The Guide-Chart Profile Method-AccountabilityThe Guide-Chart Profile Method-AccountabilityEnvironment1.Remote Giving information on other incidental services for use by others involved in the action2.Contributory Interpreter,advisory or facilitating services to those involved in the action3.Shared Participating with others(except superiors and subordinates)in taking action4.Prime Wholly responsible,with little or no shared responsibility The Guide-Chart Profile Method-AccountabilityThe Guide-Chart Profile Method-AccountabilitySalary Survey based on Hay MethodHay Point RangeMedian Salary Formula200-300129.46*HP-1386301-400155.27*HP-9127401-500167.24*HP-13,916501-600159.47*HP-10,033601-700172.55*HP-17,881701-800150.75*HP-2621
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