The title for this position is Technical support specialist which is in the supervisory level and it requires a person to have a bachelor’s degree in Electrical engineering. Candidate must have a minimum of 5 years engineering experience in a high volume manufacturing company which produces and markets consumer products. In addition the candidate must have a broad engineering principle knowledge, product development, project management, general electrical/electronic, plastic part and metal stamping designing and manufacturing techniques.
The candidate must also demonstrate ability to work in hand on environment, computer literacy with MS office, MS project, CAD and excellent communication skills including ability to work with Asians suppliers. It is in lieu of the above requirements, skills and experience of the candidate that the following terms of remuneration would be adequate and exciting for the candidate having also taken into consideration the terms of remuneration from the previous company and the prevailing market rates for similar jobs. Base salary Bonus based on Gantt’s system
Various benefits such as; Investment benefits Health benefits Group health co-operate plans Health savings Paid vacations Free beverages Company library and On-site convenience services In summary the total pay shall be as under; (Figures in $) Base salary 45,000 Bonus payment 5,000 Benefits 10,000 Allowances 5,000 Totals 65,000 Human Resource Human resource department is one of the key departments in an organization charged with various responsibilities such as hiring, training and development, and remuneration (Brewster, C.
, Sparro w, P. R. & Vernon, G. 2007). Remuneration decisions include designing a compensation package, incentive and benefits plans. Compensation Package Pay is by no doubt the primary motivator for work (Fleetwood, S. & Hesketh, A. 2007). Our company takes pride of hiring the best candidates in terms of experience and skills and that is why James was interviewed. However, these potential candidates negotiate higher terms of remuneration. Reward is also offered in terms of employee stock purchase programs and equity (stock based incentives).
Outsourcing is one of the strategies used by the company in getting the best employees by offering terms which are better than the previous employer. In achieving our performance goals various elements are taken into consideration in the compensation packet such as learning opportunities, challenging work, opportunities for growth and advancement, positive work environment and opportunities for social interactions. The compensation package will include the base salary, payments, bonus payments, inducement/hardship premium, taxation, benefits and allowances.
Allowances include housing, education, relocation and home leave as and when applicable. In general our packages are benchmarked against packages offered by other premium companies that do similar businesses and also against our own employees performing similar duties and having similar skills and experiences. James Richards has an electrical engineering degree from a credited university with 5 years of experience in a reputable organization hence his compensation package will be based across the industrial bench marks and that of other employees in our organization’s engineering department possessing similar skills and experience.
According to the US electrical engineers bench mark, the current average compensation rate is $54915 per annum. James previous package was slightly higher than that. In order to competitively hire him and also achieve our organizational goals the company has offered him a package of $ 65,000 per annum broken down as follows: (Figures in $) Base salary 45,000 Bonus payment 5,000 Benefits 10,000 Allowances 5,000 Totals 65,000 As a general rule, deductions such as tax amount will be borne by him depending on the prevailing tax rate and other factors such as marital status.
Incentive plan James target job is at a supervisory level in our engineering department. The right incentive plan properly implemented can motivate the employee, increase productivity and allow the employer to distinguish pay given to high performances. Incentive programs with touchable, memorable rewards are proven employee motivators. They boost sales, company morale and build lasting bonds between the employee and the employer, customers and partners. It is in this regard that we have decided to extend our performance based incentives to this employee.
These plans are designed to help drive performance by creating incentive programs that are cost effective and that deliver outstanding return on investment (ROI) for our clients. The electrical engineering department is made up of several divisions and of which only a few shall be under James Richards. Performance based incentive programs have been set up for every division within the company and need some revision as this is a newly created role. This, according to our tradition is one of the most efficient ways of performance building and it explore new ways to motivate the employee to outperform while having fun doing so.
The roles of this new supervisory job has been designed to incorporate our main objectives such as: increasing profit, market share, profitable sales, acquiring new customers, branding our products and services, improving customer service, safety programs, customer building, reducing work place turnover, attendance, greater employee motivation and increased productivity. There are various types of incentive plans (Brewster, C. , Sparro w, P. R. & Vernon, G. 2007) such as straight piece rate, straight piece rate with a guaranteed base wage, Hasley plan, Rowan plan, Gantt’s plan, Bedeaux plan and Emerson plan.
In addition to these there are other individual incentive bonus schemes based on production which would be ideal for this position. These include Taylor’s differential wage plan and, Merrick’s multiple piece rate plan. The chosen plan is the Gantt’s task system. Gantts task system This was named after H. L Gantt. It offers the worker a very large bonus if the standard task is accomplished within the standard time. The main features of this system are: • It combines three- in- one i. e. time rate, differential piece rate and bonus
• It guarantees minimum daily wage • If the standard task is completed within the standard time there is a bonus which is usually at a high rate • The bonus is a fixed percentage of the time taken • If the employee accomplishes the standard task with the stipulated time he is paid a bonus which is usually at 20% of his time rate. James standard task has been set at 10 pieces per week. The standard time per piece is 5 hours and the piece rate is pound 20. The bonus is fixed at 25% of the time allowed.
The main advantage of this plan is that it is easy to understand and easy to operate, it provides a strong incentive to efficient workers, it induces foremen to exercise better supervision and incase of excessive overheads, this system of bonus payment can prove to be useful. However, major set back for this plan is that it may great jealousy and bad blood among employees because the bonus earned by the efficient workers is too high as compared to that of inefficient workers (Hosie, P. J. , Sevastos, P. P. and Cooper, C. L. 2006). Benefits plan
This position comes with various benefits covering the employee, spouse and eligible children or dependant to help the employee develop a financially secure future. The various benefits include: • Investments benefits Various options include Savings plan – this lets the employee reschedule up to 50% of his pre-tax salary Employee equity purchase plan – 1% to 15% of the pre-tax salary will be used to buy our stock at a 10% discount. Discounted financial services – the employee will take advantage of various classes of discounted banking and financial services offered at exceptional discounted rates.
These include brokerage and banking services and financial planning and education opportunities Credit unions – this includes checking accounts, bank cards and competitive interest rates • Health benefits Our company provides both inpatient ant outpatients’ services to the employee and his family • Group health co-operative plan This will allow the employee to chose his health co-operative doctor and enjoy same day appointment at any group health co-operative medical centre. The basic advantages of these plans are: no pay roll contribution, non deductible, and 100% coverage for most prescription drugs. • Health saving plan
This features a health saving account by providing a tax free way to help the employee build savings for future medical expenses. The company contributes cash to the employees account on a monthly basis hence building a portable health fund for the future. • Paid vacation Every employee will be entitled to a three weeks annual paid leave. • Free beverages The employee will be able to choose from a variety of free drinks while working for the company • Company library The employee will have access to our well stocked library for a collection of exciting and latest movies and books. • On site convenience services
This includes free grocery delivery, on site dry cleaning, laundry services, convenience shopping and dinners to help the employee enjoy time saving conveniences.
Hosie, P. J. , Sevastos, P. P. and Cooper, C. L. (2006). Happy-performing Managers: The Impact of Affective Well-Being and Intrinsic Job satisfaction in the Workplace. London: Brewster, C. , Sparro w, P. R. & Vernon, G. (2007). International Human Resource Management, 2nd Edition, London: Chartered Institute of Personnel and Development Fleetwood, S. & Hesketh, A. (2007). Understanding the Performance of Human Resources, Cambridge: Cambridge University