ZENITH PROPOSAL PHASE 1 By: Sonia Choi, Mellisa Tan, Elizabeth Le,Richard Ly, Jonathan
Pay For Knowledge Plan Pay for knowledge: a base pay strategy that is based on the total value of the skills and competencies that each employee has acquired Advantages: incentive for employee skill development, high work force flexibility, doesn’t require job descriptions, broader jobs with more intrinsic rewards, etc.
Cont’d Provides employees with an incentive to expand their knowledge, skills and expertise Facilitates job rotation, job enrichment and job enlargement Cost saving Includes job family 2 and job family 3
Skill Grid Strategy 18 skill blocks 5 horizontal skill types and 4 vertical skill levels Employees receive an increase in pay as they complete each skill block Completion of horizontal row of skills before moving up to a higher row of skills 4 pay raises are possible in one skill grid 20 weeks to master \ 4/5 years
EXAMPLE: TEMPLATE OF ONE JOB FAMILY Job Family 2: Description: Entry level Job positions. Fields may vary. Positions require college/ university level educational background and/or 0-3 years of relevant experience at the minimum. Required professional accreditations completed or completion within first year is mandatory. Positions are easily displaceable and there is high competition among applicants. Bargaining power is minimal and compensation system is primarily determined by Human Resources Management. Skills are limited. Systems Design Analyst Junior Systems Trainer Junior Application Programmer Compensation Officer Systems integration Specialist Systems Marketing specialist
EXAMPLE: JOB FAMILY 4 Director of HR, Marketing, and Systems Development :COMPENSABLE FACTORS