Compensation Management Hr434

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HR 434 Take Home Exam #1 Due Sunday night of week #4 Name: Mack A. Anderson

1. (10 points) What changes are occurring in the workforce relative to the kinds of work employees are performing?

The workforce has changed a lot, technology has taken over which reduce the mean for manufacturing work. One of the changes is self check-out stands at Wal-mart. Prior to the computerization and robotization of manufacturing, the allocation of 40% of revenues for labor costs was a good ballpark figure. In-terms meant for every $1.00 is generated by manufacturing company, 40 cent went for base pay and benefits for the workforce.

2. (10 points) Discuss what is meant by the term exempt employee and the various exemption criteria established for identifying this group of workers.

Exempt employees are your senior management and they receive a fixed salary. Salary employees does not get paid overtime. Non-exempt employees are your hourly wages. Hourly wages employees get overtime pay.

3. (10 points) Briefly describe the three major classes of society and their seven subsets.

Upper-class. The ultra-rich, their income is over $1million a year and they live a care free life. The wealthy, income will range from $250,000 to$1,000,000.

Middle-class. The upper-middle class earns between $100-250,000 a year. Middle class persons earn from $60-100,000 a year. Lower middle class persons earn from $35-60,000 a year.

Lower-class. The working poor have incomes ranging from $19-35,000. These persons are typically on food stamps, and require government assistance for housing and medical care. The poverty class earns less than $19,000.

4. (10 points) Why is it necessary to perform a job analysis? Job analysis is a process to establish and document the detail list of employment procedures such as training,…...

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