BUS 409 – Week 6 Discussion – Internally Consistent Compensation Systems
Part 1
Respond to the following:
You have recently been hired as the HR manager of a small furniture manufacturing company that has 63 employees. These employees include everyone from line workers to upper management. You are the first HR person the company has had. One of your first assignments was to evaluate the fairness of the company’s current compensation system.
Based on your evaluation, you have discovered a number of inconsistencies:
Some line workers earn more than managers.
Some managers earn twice as much as other managers even though the work is similar.
Some line workers are making significantly more money than others even though they are performing the same work.
What recommendations would you make to improve the consistency of the company’s compensation system?
Be sure to provide the rationale for your recommendations.
- Part 2
Post at least one substantive comment to another student’s post (Brittany W.)
- Inconsistencies in the compensation system, recommendations that I would make:
- Comprehensive Compensation Review: Start by evaluating the current salary structure, job roles, and responsibilities across the organization.
Clear Salary Ranges: Create salary ranges for each job grade to provide a framework for fair and consistent compensation.
Regular Reviews and Updates to the Salary Structures: Compensation trends and market rates change over time. Therefore, it’s important to periodically review and update salary structures to remain competitive and fair.
Training and Development Opportunities: Invest in training and development programs to help employees enhance their skills and advance in their careers.
Monitor and Audit Compensation Practices Regularly: Implement regular audits and monitoring processes to ensure compliance with fair labor practices and internal equity standards.
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