|Topic||Human Resources Compensation|
|Sources / references||0|
|Description / paper instructions
Please read the instruction attached file than the others attached files.
Case in Compensation Phase III Performance and Management
In general, about the Phases and Fastcat “Case in Compensation”:
-This is a team work called Fastcat.
-Fastcat, classified as “Software” company.
-You’re writing a Report NOT an Essay. So, only focus on the portion that you need to write about which is down “page 2”.
-NO outside sources or references, the Only sources/references are:
-Book compensation: Newman, Jerry M., and Barry A. Gerhart. Compensation. 13th ed., McGraw-Hill Education, 2020. “attached”.
-Case book, case in compensation Phase III: Milkovich, George T., and Barry A. Gerhart. Cases in Compensation. Publisher Not Identified, 2013. “attached”.
-Also, you need to read FastCat Cases in Compensation.docx “attached”
About Phase III Performance and Management:
In general, all FastCat team decided Focus just on:
· The merit and incentive pay pieces of stage 3
· Bonus system Eligibility and Amount
Also, here is what FastCat determined; None of the jobs that we have in the case book are strictly sales. There are a few that “assist” the sales team as needed, but we are not directly dealing with sales positions. With that being said, FastCat agreed that it was in the best interest of FastCat company to forgo the Merit Bonus and to instead focus on a Merit Pay plan for our two job structures. The Merit pay increases can and will likely differ, but we feel that the only jobs among those we have listed that might qualify for a merit bonus would be the “leader” positions, but we fear that may create discontent in the workplace.
Look at page 69 of the casebook under the “Merit” grid, these are the things that we will need to break down in the paper to help how to decide who is eligible for Merit Pay increases, the Cost, and create a performance rating distribution.
So, FastCat will continue with the assumption that we are not including Merit Bonuses on our project.
What you need to do is to write a report about this portion:
Objectives of the merit pay plan
Ø What objectives do Fastcat intend to meet by using a merit pay plan over the other incentive plans?
Ø What message do Fastcat want to send to employees by using the merit pay increase?
Ø How will the merit pay be useful to managers/supervisors and employees?
Ø How will employees and managers understand the merit pay program and how it is determined? (Does it matter, if yes, then how might FastCat increase their understanding of the plan?)
Ø Will FastCat need to change how it pays its employees?
Ø Include rationale and brief summary.
Before writing a report about the portion above: you need to read
1- FastCat Cases in Compensation.docx “attached” which explain Phase 1 AND 2 ALSO which is connected to Phase III.
3- Read the required chapters from the text book “you can find the required chapter that you need in page 67 in the “Case in Compensation Phase III Performance and Management.pdf “.
4- To focus on what you are writing about such as “merit pay” you can search the word you want in the text book “11 ed Compensation ( PDFDrive.com ).pdf” by typing the word you need then the chapters and pages will appear to you.
5- Please notice, all the attached are connected so in order to write this report you need to read them.
6- Please notice, the Only sources/references are: Case in Compensation Phase III Performance and Management.pdf “ AND 11 ed Compensation ( PDFDrive.com ).pdf