Putting it all together: Final Project

External Competitiveness

Tim Weaver

Southern New Hampshire University

Total Rewards/ OL 325

February 6, 2022

Introduction

Human resource management is mostly presumed to be responsible for the recruitment and training of the task force, among other responsibilities like culture and character development in the workstation. The assumptions are valid, only that a lot has been left out in describing the full potential of the department and what it is capable of if the norms are implemented accordingly. The most important piece of the puzzle that is being left out is that the human resource department is the sole determinant of either success or downfall of an organization, explains: through strategic planning in managing and maintaining an organization’s asset which is the human workforce, a lot can be achieved. One of the common ways is through motivation and compensation, a good company knows the rule that well compensation to employees is an investment rather than an expense as many see it.

Well compensated and motivated employees will work extra harder as the odds of success would be doubled as they would not only be working their assigned tasks but also be targeting the motivation in place such as salary increments and allowance, trips, and sometimes educative workshops. In terms of salaries, the firm should be careful not to over or underpay as both result in serious consequences to the firm, underpayment means the salary is not competitive and the staff will quit to where they are properly acknowledged and appreciated for their inputs. Overpaying will strain the company’s budget (Toppinen et al., 2019). The balance between the two is what will determine the success of an organization, which leads to the significance of external competitiveness to a firm.

Through this model, it is a crystal of how salaries are generated to satisfy different professional roles as per their assigned responsibilities. They are calculated as below as per the survey conducted:

A: Weighted Means of the Base Pay

Administrative Assistant

These are individuals responsible for the day-to-day running of offices by managing and organizing the office work, their roles are key in an organization and so is their satisfaction compensation-wise.

Simple mean =

Simple mean = $ 35, 500

Weighted mean = equal weight to each job incumbents wage

Weighted mean = $ 35, 749.99

Operational Analyst

They are tasked with observing the company’s performance by reviewing the policies and evaluating them to ensure they are in line with the achievement of the firm’s objectives.

Simple mean =

=63,166.67

65,000

Weighted mean = $ 63,325

Production Worker

In this category, the personnel is mostly required in manufacturing and production firms where their technical skills are significant in the maintenance and running of the heavy production machinery.

Simple mean =

simple mean = $ 29,000

weighted mean = equal weight to each job incumbent’ wage

Weighted mean = $ 23,706.34

Benefits Manager

A benefits manager is the one responsible for the planning and organization of all the benefits in the workplace, they maintain an equilibrium between the two where the benefits and policies brought forward re of positive impact to the firm and are also in line with the government and company policies.

Simple mean =

Simple Mean = $ 62, 750

weighted mean = equal weight to each job incumbent’ wage

= weighted mean = $ 62,957.

Predicted Market Pay Rate

Job title	Weighted pay	Job Evaluation points
Administrative Assistant	35, 749. 99	130
Operations Analyst	63,325	210
Production Worker	23,706	110
Benefits Manager	62, 957	260

Adjusted Pay Rates

Job titles	Market Pay	Adjusted Pay Rates
Administrative Assistant	35749	36821.47
Operations Analyst	63325	65224.75
Production Worker	29115	29,988.45
Benefits Manager	62957	64,845.71

2

B: Predicted Bass Pay

Y = a+bx

Y= the predicted base pay.

Administrative Assistant

Y = 4380.039 + 244.5434(130)

Predicted base pay for administrative assistant = 36, 170.681

Operational Analyst

Y = a+bx

Y = 4380.039 +244.5434(210)

= 55, 734.153

Production worker

Y = a+bx

Y = 4380.039 + 244.5434(110)

Predicted base pay for Production worker = 31, 279.769

Benefits Manager

Y= a+bx

Y= 4380.039+244.5434(260)

The predicted base pay for the benefits manager is = 67, 961.323

C: Market Pay Line

D: Adjusted Pay rates

Job titles	Market Pay	Adjusted Pay Rates
Administrative Assistant	35749	36821.47
Operations Analyst	63325	65224.75
Production Worker	29115	29,988.45
Benefits Manager	62957	64,845.71

E: Pay Grades

As per the required information, when working out their maximums and minimums of their salaries, it was out that the two, Operational Analyst and Benefits Manager. The names above have their salaries ranging close to each other and it would make more sense if they are all categorized underne grade as shown.

Grade	Position
Grade A	Production Worker
Grade B	Administrative Assistant
Grade C	Benefits Manager Operational Analyst

F: Pay Ranges

Pay Grade	Minimum	Average	Maximum
A	26,989.2	29,988	32,986.8
B	33,138.9	36,821	40,503.1
C	58,360.5	64,845	71,329.5
	58,701.6	65,224	71,746.4

10

References

Competitiveness, I. A. E., & Region, C. E. M. A. C. 55. The constraints of a fixed exchange rate regime require careful attention to.

Toppinen, A., Sauru, M., Pätäri, S., Lähtinen, K., & Tuppura, A. (2019). Internal and external factors of competitiveness shaping the future of wooden multistory construction in Finland and Sweden. Construction Management and Economics, 37(4), 201-216.

adjusted pay rates 110 130 210 260 29988 36821 64845 65224 market pay

110 130 210 260 29115 35749 62957 63325

job evaluation points

pay rates