In: Operations Management
You are the Compensation Manager for Chatham-Kent Health Alliance and I am the VP of Human Resources. I have tasked you with doing an external compensation survey. Using the information , develop an in-depth, comprehensive compensation survey and present your plan to me. minimum 500 words.
Compensation survey- It refers to survey on the salary, wages of various employees who are working in the organization. The data are collected by the surveyor and proper analysis of data is done then the proper steps are taken regarding the pay structure of the employees.
The survey was performed by the Manager of Chatham-Kent Health Alliance and according to the compensation survey the manager plan are-
1- There are different types of compensation such as salary,sales commision, bonus, incentives and benefits. According to my research and analysis i would suggest the company that proper compensation system should be there in the organization so there will be no discrimination of salaries among the employees.
2- Create proper pay structure- Proper pay structure should be maintained and explain to each and every employee so that they will work hard to achieve extra income apart from their salaries.
3- The adjustment in salaries- The adjustment in salaries should be there. I personally went for survey and come to a conclusion that company should increase the pay of the doctors who are working more then 8 hours in a day.
4- Extra income should be provided to the employees who work extra in a day. This will defenitely help yo stay connected with our working team and we will never lose them.
5- Calculation of market average should be done- It is important to know where the job stand compare to the current market and according to my survey we can find this by dividing the current pay of the employee at certain position with market average.