human resource management

A) determine appropriate pay-policy:

Organizational settings can consider implementing the two known methods of pay-policies which are intrinsic and extrinsic. Intrinsic incentives are those incentives considered adequate for the implementation of successful workers and usually involve invisible incentives. The invisible incentives are those that cannot be seen or touched. These incentives include a word of motivation, affirmation, or a thank you message (Coccia, 2019). Such incentives are provided as a way of encouraging employees to continue performing their best. It also ensures that the employees feel appreciated even where the management or the organization, in general, does not offer any other incentives.

On the other hand, organizations can also offer extrinsic incentives, primarily identified by physical forms of appreciation. The organization can choose to appreciate the employees by providing physical forms such as gifts in the form of cheques, physical equipment, and goods such value. Providing this incentive ensures that the organization's goal has been arrived at by the employees (Coccia, 2019). In most cases, it is a well-designed reward given to the organization's best-performing employees to offer motivation for the work done by the employees. The physical gift may provide constant motivation to the employees and maintain the same focus in the future.

B) pay-policy level decisions:

E-sonic has the option to choose a pay policy decision to take, which should be informed by numerous factors, cost-benefit analysis of each of the payment methods. Merit-based payment system and seniority-based methods are assessed, to help determine the best choice for e-sonic.

Merit-based payment is a method that considers abilities, where management compares merits increase between employees to determine employees that should be promoted. With a merit-based system, it is the question of performance rather than experience, which means the results and achievements are used to determine pay benefits that would be extended to an employee. In other words, the contribution of employees based on their performance influences pay policy decisions.

With merit-based pay, compensation is individualized with organizations compensating higher wages and salaries based on their performance, results and contributions they have made to the organization (Heathfield, 2020). Therefore, a merit-based pay policy motivates employees to work harder and reward abilities. On contrary, merit-based pay is criticized for consuming a lot of time to measure the performance of each employee, metrics used to measure the performance of each employee may vary that could lead to disparities in the measured performance of various employees, and also is associated with favoritism (Heathfield, 2020). Seniority–based pay system, is one through which pay policies and benefits are grounded onthe amount of time an employee has spent with the company. Ideally, when having employees A that has worked with the company for 10 years and employee B for 15 years, employees will be promoted and even have higher pay than employee A. Doing cost-benefit analysis, seniority-based is preferred by the organization because employees that have stayed with the organization for a long time are considered to have a better understanding of vision and mission of the company, promotes workplace harmony, increases loyalty, enhances predictability to workers when next pay or promotion would occur, and employees feel secure in the job because experience influence hiring decisions rather than abilities and performance (Thompson, 2019). However, seniority-based is opposed for increasing cost to the company in the long run, hampers productivity and profitability because payment may not be commensurate with productivity and performance of employees and, promotes unfair competition that could lead to conflict among employees.

Having considered benefits and costs for two pay policies, a merit-based pay policy is suggested for E-sonic. This is because E-sonic is new in the music industry and it would be necessary to employ employees based on skills and ability to generate innovative ideas to foster the growth of the company. Further, when E-sonic is established, it can review its pay policy system to establish the most suitable as per such time.

C) compensation survey- external market analysis:

I- ITUNES AND E- SONIC (COMPITITORES)

In this paper, we are going to discuss the external market analysis of I-tune and E-sonic. I-tune has attracted a wide market environment from the external market. The first thing that has increased the external market is the availability of the internet (Shi 2018). Through the internet, more clients worldwide are fetched as they will be attracted to i-tune when using the

internet (Shi 2018). Besides, i-tune has more opportunities as it is compatible with the different operating systems and platforms. This increases its use, thus widening the external market. Also, its music store is exclusively making it attract a lot of customers.

The external market environment of e-sonic includes the competitors, foreign demand, the labor markets, prospects of the industry, and the industry's profile. This market environment has been heavily faced with the decline of music CDs (Toppano et al., 2019). It is because of the advancement in the technology that is facing away from the compact discs, tape, and other record producing (Toppano et al., 2019). However, the things like CDs have been replaced with search the internet from anywhere in the world for different music. As a result of this, e-sonic has become one of the major demands for business around the world. The change in technology benefits e-sonic as all the customers can be reached, even those that were not reached previously. As long as there is a continuous adaption of the technology in the e-sonic industry, the external market of e-sonic will continue to increase due to an increase in the market through the electronic media.

However, both I-tunes and e-sonic are faced with the external market threat of online websites where someone can download free music. This reduces their sales as a lot of people will shift to the free download. Besides, it is faced with music piracy which is a major to the external market. This makes other people produce the audio CDs, and other music devices are a lower price.

II- five ITUNES jobs

III- Job comparison sheet :

D) IMPLEMENTATION OF SALARY SURVEY RESULTS:

Summarize:

Determination of pay for each job structure was influenced by tasks to be completed by a cadre in each job structure, knowledge, abilities and skills. However, before determining pay for each job structure, a budget plan was necessary. Second, it was established that company job and benchmarks differ to some extent, and to arrive at pay for each job structure, reconciling of differences was taken into consideration on account of duties, ability and effort required by employees in each task, which formed the basis for reconciliation. Third, to establish the importance of each job structure, salary surveys were completed, and appropriate pay-policy mix determined. Salaries for employees in the company and those in the same industries were compared, which were vital in determining salaries that to be advanced to employees in the different job structure. Finally, to make a pay policy decision, merit-based and seniority-based policy decisions were evaluated, and due to emphasis on skills, abilities and tasks, merit-based pay policy was chosen.

Reference:

Coccia, M. (2019). Intrinsic and extrinsic incentives to support motivation and performance of

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Frey, B. (2017). Policy consequences of pay-for-performance and crowding-out. Journal of

Behavioral Economics for Policy, 1(1), 55-59.

Waters, L. D., Mironova, O., & Stobinski, J. X. (2017). The many potential uses for a job

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