ZENITH PROPOSAL PHASE 1. By: Sonia Choi , Mellisa Tan, Elizabeth Le,Richard Ly, Jonathan . COMPANY OVERVIEW. CORE ISSUES. RESTRUCTURING SOLUTIONS. EFFECTS AND ROLE OF COMPENSTATION . Pay For Knowledge Plan.
By: Sonia Choi, Mellisa Tan, Elizabeth Le,Richard Ly, Jonathan
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.
Provides employees with an incentive to expand their knowledge, skills and expertise
Facilitates job rotation, job enrichment and job enlargement
Includes job family 2 and job family 3
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
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
Director of HR, Marketing, and Systems Development :COMPENSABLE FACTORS