You are the human resources manager of Endothon Company, which helps its clients eliminate paper use by automating their business processes. Endothon is implementing a new software program and faces the challenge of hiring additional staff to help sell and support the program.
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You are the human resources manager of Endothon Company, which helps its clients eliminate paper use by automating their business processes. Endothon is implementing a new software program and faces the challenge of hiring additional staff to help sell and support the program.
The company has been in business for five years and currently has 20 employees working on a variety of software applications for clients. Endothon will likely double in size during the next six months and add even more employees by the end of the year.
The first round of hires will include three new positions: one brand manager and two product sales representatives. Because Endothon is located in a geographic area in California where the job market is ultracompetitive, recruiting quality candidates will be challenging.
Also, the organization’s partners feel that the current job-value structure and pay policy, as well as the lack of a formal system of variable pay, are outdated. You must define the company’s compensation strategy to allow Endothon to be competitive in the workplace and to attract and retain a quality workforce.
Requirements: See explanations
Compensation and Benefits: Endothon Task
Course Code: C236
Student Name: Alicha Ramirez-James
Student ID:
Date: 8/11/2023
Program Mentor Name: Drew Leon
A. Revise the following to include the three new positions and their salaries, as well as to show any changes to existing salaries.
A1. Justify the placement and salaries of the three new positions.
The Brand Manager position has been added immediately below the Human Resources Manager position in the job structure. The Brand Manager’s role oversees the design and implementation of planned marketing campaigns. The qualifications required for this position include a bachelor’s degree, substantial knowledge, and experience. Because Endothon is currently looking to expand and implement new roles, it is crucial that the job value structure be updated to reflect this growth and new potential. Incorporating a competitive salary for the Brand Manager position ensures that qualified and skilled individuals are attracted to the job opening and are more likely to apply, giving Endothon a valuable employee. The pay rate for the Brand Manager position, $124,000.00 annual salary, was determined using the market reward survey results. There was a mix of positions referenced when deciding on compensation; these positions included managers for market, advertising, promotions, and sales. Due to these positions ranging in salary bands the salary ranges were summed and averaged to start at an upper-median salary for the new Brand Manager position
2. Product Sales Representative 1
The product sales representative role is to develop new customer connections as well strengthen and maintain existing ones. The compensation for job 1 in this particular advertisement is $123,890.00 per year. This wage was determined using the market rewards survey and is now more than the industry median in order to assist fill the position with the most qualified, valued individuals. In addition to a Bachelor’s degree and a set of abilities and experiences, this role necessitates travel up to 50% of the time. Given the stringent standards, an above -median wage was fair and will benefit Endothon by luring the best candidates, giving it access to a huge pool of candidates from which to pick. This position will be essential to the company’s future success and an important leadership role which is why it’s best fit for an experienced professional Vs. an entry level sales representative.
3. Product Sales Representative 2
The Product Sales Representative, 2 position is quite similar to the first Product Sales Representative position; however, this position pays an annual income of $118,680.00, which is over the median but still competitive. This position was primarily designed as a supplementary position to that of a first product sales representative. Both roles have similar work, responsibilities, and prerequisites, such as the need for a Bachelor’s degree, as well as similar training and experience. Similar to the product sales representative 1, this position will be crucial to Endothon’s performance in the future, and the new job-value scale reflects that appropriately by employing market rewards surveys to help create rewarding employment options.
B. Using the 23 positions, create a pay grade and ranges table.
Reference the Supporting Document, “Endothon Original Job-Value Structure.” Review this document as an example, which has a pay grade and ranges table created from the original job-value structure (Note: For creating your new table below, Endothon is now a larger Company anticipating growth). In creating your new pay grade and ranges table below, the principles of overlapping pay grades and consistent progression from one grade to another must be used.
B1. Describe a strategy to address the original salaries found in the “Current Job-Value Structure” that might now be outside the proposed ranges.
Strategy:
Any position that is paid less than the minimum wage specified in the pay grade (also known as the “green circle rate”) shall immediately have its pay raised to equal or surpass the minimum wage specified for that position, in accordance with the new pay grades. The pay grade’s maximum salary (also known as the red circle rate) is the point at which an employee’s earnings are no longer subject to raises. Instead, Endothon will concentrate its efforts on career advancement to assist employees advance their careers and move into a new pay grade, or if advancement is not an option or something the employee wants, Endothon can reduce the pay to the maximum threshold for the position as specified in the pay grade. The pay grade’s maximum salary (also known as the red circle rate) is the point at which an employee’s earnings are no longer subject to raises. Instead, Endothon will refocus its efforts on career advancement to assist employees in moving into a new pay grade; alternatively, if advancement is not an option or a desire of the employee, Endothon can lower the wage to meet the maximum threshold for the position as outlined in the pay grade, and offer bonus incentives, paid time off (PTO), or other benefits like stock options or educational opportunities to make up the difference in wages. Because all wages fall between the red and green circles, Endothon’s job-value scale does not currently require a red or green circle strategy due to all salaries falling into a pay grade category for their positions.
B2. Justify your pay grades and ranges, commenting on attraction and retention strategies.
Endothon’s recently altered pay grades and ranges are created to best complement the company’s present and upcoming new jobs while luring in competent and important personnel. These rates were created to allow for adequate space for compensation and career progression within the appropriate pay grades and positions while also being competitive, transparent, equitable, and within the industry norms according to the market rewards study. Entry-level personnel are able to start their careers at the firm on lower pay levels and advance to higher positions with better pay grades as a result. These pay scales are reasonable, and the differences between each pay scale provide plenty of opportunity for promotion, which will aid in retaining valuable team members. Endothon has the option to adjust and further update these pay grades, focusing on flexibility, which is crucial in today’s corporate environment.
C. Recommend one distinct variable pay option for each of three pay grades, including a justification of why each recommendation would motivate individuals in that particular pay grade.
Recommendation 1: Tuition Reimbursement and Annual Merit Increases
Justification 1:
These new pay grades are primarily differentiated by the knowledge, abilities, and credentials necessary to carry out the job duties effectively. Offering tuition reimbursement is a wonderful approach for Endothon to demonstrate how much the company values learning and career progression because pay grades 1 through 3 are primarily focused toward entry-level employment. Endothon will pay up to $6,000 per calendar year (or $3,000 per semester) in tuition reimbursement for full-time workers for courses leading to an associates, bachelor’s, or master’s degree in an area of study relevant to their line of work. Reimbursement demands a grade of C or above and a minimum 3-year commitment from the employee. Providing yearly merit raises based on conduct and performance enables workers in these pay grades to receive additional compensation for exceptional work (or meeting individual and department goals. Following this structure will motivate employees and will support employee retention.
Recommendation 2: Commission-Based Pay Option
Justification 2:
Mid-level, customer-facing or deliverable roles are mostly represented by Pay Grades 4, 5, and 6. The addition of a commission-based pay option to the employees’ base salary would be fantastic. The income, expansion, and future of the company are directly impacted by these roles within these pay grades. By encouraging workers to perform meaningful, high-quality work in order to earn the additional commission-based compensation on top of their normal wage, commission-based pay encourages competition and benefits Endothon. To fulfill the criteria for commission payments, departments can use SMART Goals.
Recommendation 3: Profit Sharing, Stock Options
Justification 3:
Employees in pay grades 7 and 8 often have greater experience and seniority, as well as specific knowledge and/or abilities that lower-level workers do not have. These workers have excellent morale, are devoted to Endothon, and are more likely to stay with the company. In order to make sure that these personnel continue to strive for great performance and reaching and exceeding organizational goals, offering profit sharing offers an extra chance for external incentive. Executive level workers at Endothon get yearly stock options, which increases their motivation and length of service with the company. Each employee will get stock options on their anniversary of work each year, as well as additional “bonus” stocks for significant employment anniversaries (5, 10, 15, 20, etc.).
References
Acknowledge sources using in-text citations and references for content that is quoted, paraphrased, or summarized.
Brand Manager Job Description
TITLE: Brand manager
REPORTS TO: Partners
JOB PURPOSE: The brand manager manages design and production of planned marketing programs.
RESPONSIBILITIES:
Plans and conducts market research to identify opportunities for increased sales
Maintains customer database and approves the use of internal and external mailing lists
Reviews analysis of marketing surveys on current and new product concepts in order to recommend future product development
Provides post-event reports, analysis, and regular status reports on marketing programs
Plans, promotes, and executes sales meetings as well as community and goodwill events
Helps establish and maintain consistent corporate image throughout product lines, promotional materials, and events
Assists in establishing strategic marketing plans to achieve corporate objectives for products and services
Develops and executes marketing programs to achieve stated objectives regarding revenue, profitability, and market share
Communicates with outside advertising agencies on ongoing campaigns
Helps manage marketing budget
Plans and oversees execution of promotional activities including print, electronic media, trade show, direct mail, point-of-purchase displays, and signage
Manages development, production, and distribution of promotional and collateral materials to support sales and marketing programs
Analyzes marketing programs and adjusts strategy and tactics to increase effectiveness
QUALIFICATIONS:
Bachelor’s degree in information systems, computer science, marketing, business, or a related field with coursework in information technology/systems
5+ years’ product marketing management experience in a software development technology-driven company
3+ years’ knowledge and experience in a marketing leadership role
Current Job-Value Structure
The following current positions at Endothon Company are listed based on pay rate from high to low:
* Benchmarked job
Market Rewards Survey
Product Sales Representative Job Description
TITLE: Product sales representative
REPORTS TO: Partners
JOB PURPOSE: The product sales representative cultivates new client relationships and expands existing relationships.
Responsibilities:
Develops new streams of consulting revenue through new and existing sales channels
Converts existing transactional business into long-term contract business
Contributes to marketing efforts
Builds and manages a sales funnel
Works with marketing department on developing marketing plans specific to consulting services
Represents company at industry trade shows and conferences
Networks to develop new leads
Effectively communicates verbally and in writing
Possesses the ability to execute on initiatives
Demonstrates proven track record of business development skills
Demonstrates proven track record of successful account management
Exhibits sound decision-making skills in high-pressure situations
Possesses excellent follow-up and closing skills
Effectively collaborates with other departments on key initiatives
Minimum Qualifications:
Bachelor’s degree in business management or business administration
3+ years’ product sales experience
1+ years’ sales management experience
Working knowledge of MS Office and associated applications required
Ability to travel up to 50% of the year
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