As economic conditions became more demanding
for some employers, other firms continued
to recruit people for jobs. One firm, Kia Motors
America, added a large number of jobs at one
of its newer facilities. As a subsidiary of a South
Korean corporation, Kia Motors America added
tons of equipment at its West Point, Georgia,
plant, so that ultimately about 300,000 vehicles
would be produced annually.
As the firm sought recruits to fill its Georgia
plant workforce, more than 40,000 individuals
applied for the jobs, the bulk of which were
production and maintenance positions. However,
the need for people in a variety of other occupations,
including air-conditioning service people,
cafeteria workers, and medical staff, added to the
depth and scope of Kia’s recruiting. A limited time
frame for applications was set by Kia as part of its
recruitment planning.
In the recruiting process, a variety of regional
and area sources were contacted as part of the Kia
broad publicity and inclusive efforts in the area.
Randy Jackson, HR Director, spent a month visiting
colleges and churches, appearing on radio and
television shows, and using other means to market
Kia’s recruiting and employment efforts. All of
these activities were done to inform applicants
about the numerous jobs at Kia and the month long
time frame for application.
To make its recruiting system effective in
screening the large number of applicants, Kia
established an online-only application process on
a special website. As part of its recruiting efforts,
Kia and a Georgia Department of Labor agency
worked together. One of the agency activities was
to make computers available at a local technical
college, libraries, and other locations for those
persons without home-based Internet. Having
the online system allowed Kia’s HR staff to move
quickly to identify those applicants who matched
available jobs. The use of this system by HR
recruiters and managers doing the hiring made the
selection process more efficient.
To aid in the selection of employees, recruiting
software was used to sort applicants into
electronic “buckets,” divided by work experiences
and education. Then an eight-step process was
established to let applicants obtain a realistic
job preview of working at Kia. These recruiting
actions resulted in the hiring of more than 500
new employees within six months. During the
rest of the year, an additional 1,200 workers were
hired, primarily for the second shift, and more
were hired later.
Although smaller employers might not use
such an extensive recruiting process, the Kia process
illustrates the kinds of recruiting planning,
activities, Internet linkages, and other means that
can be used by both large and small employers
doing recruiting. The long-term success of Kia’s
efforts to staff its Georgia operation demonstrates
ways in which HR can use both time- and cost effective
recruiting to hire qualified individuals.66
QU E S T I O N S
1. Describe how employing a large number of new
workers requires strategic recruiting planning
and operational efforts, and discuss what
aspects might be different in smaller firms.
2. Discuss how utilizing the Internet, like Kia
did and other employers do, is changing how
recruiting efforts are occurring for a variety of
jobs in employers of different sizes.
Recruiting at Kia
Question 1: Describe how employing a large number of new workers require strategic recruiting planning and operational efforts, and discuss what aspects might be different in smaller firms
Answer:
Recruiting a large number of new workers requires strategic recruiting planning and operational efforts and Kia gives a strong example of these efforts. Kia was able to hire 500 employees within six months, and later on 1,200 more employees were added. They did this by using technology to have people apply only online, where they made an efficient selection process. They also sorted these employees into electronic buckets and divided them by their work and educational experiences. Aspects might be different in smaller firms because they might not be able to hire so many people in such a short time period. They also might not have enough employees to do the research of the applicants that are applying for the company.
Question 2: Discuss how utilizing the Internet, like Kia did and other employers do, is changing how recruiting efforts are occurring for a variety of jobs in employers of different sizes.
Answer:
Utilizing the internet, like Kia did and other employees do is changing how recruiting efforts are occurring because companies are able to become more efficient and sort employees applications electronically, instead of paperwork which will take much more time.
Sunday, September 18, 2016
Sunday, May 1, 2016
The Art of Public Speaking 9,10,11 Quiz with Answers
| Research shows that a well-organized speech can increase the speaker's competence and trustworthiness in the minds of listeners. |
| Research shows that a well-organized speech can increase the speaker's competence and trustworthiness in the minds of listeners. |
5.
It is important to know your main points before you begin researching your speech.
Main points often emerge as you research the speech and evaluate your findings.
6.
Most speeches should have six to ten main points.
Speeches will usually contain two to five main points, and most will be limited to two or three points. If you have more than five main points, the
audience will have trouble sorting them out.
audience will have trouble sorting them out.
7.
A ____________ outline is a detailed outline developed during the planning stage of a speech.
rev: 09_12_2015_QC_CS-23738
rev: 09_12_2015_QC_CS-23738
A preparation outline is a detailed outline developed during the planning stage of a speech.
8.
A preparation outline should include
A preparation outline should include a bibliography, but not research notes or delivery cues.
9.
A preparation outline should include
A preparation outline should include a specific purpose statement, a central idea, and connectives.
10.
| In a preparation outline, the most important ideas are placed farthest to the left and the less important ideas are placed progressively farther to the right. |
| In a preparation outline, the most important ideas are placed farthest to the left and the less important ideas are placed progressively farther to the right. |
11.
In a preparation outline, you should state your main points in brief phrases.
| In a preparation outline, you should state your main points in full sentences to ensure that you develop your ideas fully. |
12.
| Even though a speaking outline should be kept as brief as possible, you should usually write out quotations in full. |
Unless you are good at memorizing quotations, you should write them out fully in your speaking outline.
13.
| In a speaking outline, words such as "pause," "faster here," and "slow down" are ____________ that help a speaker remember how she or he wants to present key parts of the speech. |
| These words are all examples of delivery cues that help a speaker remember how she or he wants to present key parts of the speech. |
14.
| Below are a main point and three subpoints from a preparation outline about body piercing. Which is the main point? |
| The main point is, “Tongue-piercing can pose several hazards,” since it is broader in scope than any of the other statements. 15.
What method of gaining the audience's attention and interest does the speaker use at the start of this speech?
The speaker gains the audience's attention and interest by telling a story.
16.
In which section of the speech does the speaker show PowerPoint images of puppy mills?
17.
How many guidelines does the speaker present in the individual initiative part of his solution?
The speaker presents four guidelines: (1) consider adopting a dog from a trusted animal shelter, (2) visit a breeder's premises when buying a new dog, (3) avoid buying a dog from a pet store, and (4) don't be fooled by advertisements of suspicious dog breeders.
  |
Read through the list of points about suicide among college students. Determine main points, subpoints, and sub-subpoints. Drag each point to its appropriate place on the outline to the right.
Read through the list of points about suicide among college students. Determine main points, subpoints, and sub-subpoints. Drag each point to its appropriate place on the outline to the right.
Read through the list of points about dandelions. Determine main points, subpoints, and sub-subpoints. Drag each point to its appropriate place on the outline to the right.
Read through the list of points about dandelions. Determine main points, subpoints, and sub-subpoints. Drag each point to its appropriate place on the outline to the right.
Tuesday, April 26, 2016
E-Sonic Records Compensation Format
Final Project Final Milestone 1
E-Sonic Records Compensation Format
Southern New Hampshire University
Final Project Final Milestone 2
Abstract
This final paper is combination of previous research to give E-Sonic a clear understanding on the procedures in completing a total compensation package. We will also look into the historical perspective on compensation packages. These packages include base pay, benefit packages and both short and long term incentives to retain and recruit talent. The output is sourced from the three major sections of research. I will give information gathered in each individual step to formulate a total package that will be competitive and attractive to our labor force. I will review the strategic analysis procedure to give an in depth look into industry profile, competition, foreign demand and labor market assessment. The internally consistent job structure is an important step. The formation of writing job descriptions, development of job structures, and both the development and implementation of a point evaluation method to quantify job differences objectively. The external competiveness is focused on where we take the direct relationship of external factors in creating a competitive pay package. The final portion of this paper ties everything together to give us the complete overlook on how compensation packages are formed and implanted within an organization. We, conclude the findings and give this organization a look on how we used the given resources to comply a tailor a compensation package to e-sonic.
Keywords: Compensation package, Pay scales, Job structure, Labor market assessment, Strategic analysis
Final Project Final Milestone 3
E-Sonic Records Compensation Format
Introduction
E-Sonic is a 1,000 employee based company that is looking to expand its products and services on a digital format. They have their revenue stream decline over the years due to the advancements in technology and the demand for digital music vs traditional music, which consists of records and cds. The digital music industry is thriving with E-Sonics competitors posting gains on this type of product. Competitors such as Apples ITunes, Google Play, and Amazon’s Prime for streaming music. If E-sonic wants to turn around the decline in revenue their market entry point has to be now.
In addition to the new staff, new positions need to be created to ensure the success of the organization. Since digital music consists of a massive amount of stored data, positions such as data managers, information security specialists, and information technology project managers have to be hired to fulfill the demand of new customers. The shift from traditional marketing to an online platform also means hiring a creative director with a new marketing director to give market analysis and trends.
These positions consisted of different pay structures and pay levels. Being a consultant for E-sonic market research is done internally and externally to see what other competitors are compensating for these positions. E-sonic is eyeing for the most talented individuals to fill these positions and keeping their completive and aligned with the market median in wages and benefits. Since this is a new startup within an organization it’s important that E-sonic does not over pay for positions by not conducting the proper research with the information available to them.
Final Project Final Milestone 4
Historical Perspective
Workers Compensation has evolved over time to ensure that employees are being compensated fairly. A majority of time the labor force market dictates what employees should be compensated by adjusting itself to factors such as cost of living increases, inflation, and non-union and union negations. Companies need to ensure that they are in compliance with federal and state regulation when drafting their compensation packages. Compensation packages have evolved from base pay to a complex set of packages. These packages consist of base pay and benefit pay which include short and long term incentives.
The Department of Labor ensures that organizations are meeting the regulations put into place to give employees are fair and balanced compensation packages. In the past when no regulations were put into place, employees were treated poorly with very little compensation for the total amount of work they completed. A good example of this would be working long hours but only get paid the minimum amount. This law was implemented to remove this practice from the workforce. The enforcement of office workers compensation programs (OWCP) has four major disability compensation programs. These packages consist of wage replacement benefits, medical treatment, vocational rehabilitation and other key benefits.
The Fair Labor Standards Act (FLSA designed standards and overtime pay, which affected most private and public employment. This historic milestone was designed to give people fair opportunity for pay increases and pay equity which continues to be a topic of concern. This historical addition to the compensation of U.S. workers had led to the increase in productivity and has made our economy stronger. The importance of compensation packages is what shapes an organizations vision. In executive summaries corporations often include ethical and employee relations, which entails compensation packages.
Final Project Final Milestone 5
Executive Summary
The e-commerce market has exploded with online music platforms that allow users and subscribers to purchase music at a reduced rate. E-Sonic is entering this market trend with the promises of increasing overall revenue by providing an effective and efficient product and service to its consumers. The rapid growth of this industry is on the rise with the age of digital music and streaming being in high demand. Sonic Records will be launching E-sonic to allow music to be purchased online. Although the market consist of a multitude of organizations big and small offering similar products and services, E-sonic is looking to differentiate themselves from its competitors by creating a relation with its consumers.
The starting price for products will range from $0.75 – $1.25 a song. The purchase of entire albums will be at a reduced by price ranging from $9.99 to $12.99 depending on the negotiated contract with the other record labels. This pricing strategy will give E-sonic subscribers the opportunity to have a wider range of a music selection. E-sonic believes that it will provide consumers a new service at a reduced rates compared to their competitors. Music downloaded and purchased from our site is provided at high resolution and to provide high levels of output to increase its quality.
E-sonic has aligned its mission to provide an outstanding product with exceptional services by hiring the most talented individuals available. E-sonic is offering competitive and fair compensation packages that include more than just a base pay. A well rounded compensation package, in which it in entails short and long term incentives. This will allow us not only to attract but to also retain talent. This initiative will directly impact our production and services adding a sound and well structure organization.
Final Project Final Milestone 6
Strategic Analysis
Every industry in the United States falls under a category that is determined by the North American Industrial Classification System (NAICS). According to the NAICS, E-Sonic is under code 5122 which is Sound Recording Industries. Furthermore E-Sonic NAICS has it classified as a Record Production. These establishments contract with artists and arrange and finance the production of original master recordings. They also hold the rights to reproduce and sell making it a majority of its revenue (North American Industry Classification System (NAICS), 2013). This information is a necessity for E-Sonic to gain knowledge of its market place and to have a concept on who and what is their direct competitors.
External Market Environment
As stated above E-Sonic falls under code 5122 (Sound Recording Industries). This industry group comprises establishments primarily engaged in producing and distributing musical recordings, in publishing music, or in providing sound recording and related services (North American Industry Classification System (NAICS)).This is a highly competitive market and according to the U.S Census in 2009 the recording industry took in $14.8 billion in revenue. This shows an increase from the previous years. E-Sonic is facing a shift in the market going fromMP3 to the ability to stream music instead of purchasing it.
In a census conduct by the United States in digital downloads of music of single tracks is predict to be 1.2 billion and in full album downloads it reached 763.40 million in the United States alone. This creates a heavily competitive atmosphere with giant music sharing platforms such as I Tunes, Amazon, and SoundCloud. These organizations are constantly evaluating to give themselves an advantage in the marketplace. They understand the demand by its users and
Final Project Final Milestone 7
continue to thrive for innovation to continue success. E-sonic needs to follow in the same footsteps, yet differ themselves to make their product efficient, effective, and unique.
Competition
E-sound faces a couple of giants in the industry, one of them being Apple. The launch of ITunes was a major success for Apple in which it saw millions of subscribers flock it to start downloading music, movies, and TV shows. It also has the capability to stream live radio, and podcast, which is a digital, audio file made available on the Internet for downloading to a computer or portable media player, typically available as a series, new installments of which can be received by subscribers automatically. According to Fortune website a study was conducted by 40 analysists and it is estimated that ITunes did $4.1 billion in sales 28% higher than the previous year (Elmer-Dewitt, 2013). We can use those numbers to determine that our point of market entry is a bit late but we can succeed if we (E-sonic) diversify ourselves and offer a unique product/service that will give us the competitive advantage.
Organizations are often diversifying themselves and Amazon has launched a music purchasing agent, called Prime music. It offers over a million songs, and hundreds of playlists, ad-free, and personalized stations. Amazon has marketed this offering by including it in a package for its Prime subscribers. The concept that they follow is that everything is based on streaming, so you never own the song. This has allowed them to not charge for the song. Again this is another competitor with the same concept and a different approach.
SoundCloud allows its users to directly upload their own music and share it with other friends. This is not a direct competitor but an indirect competitor because it constantly takes potential customers away who want a free type of service. They cater to the same consumers in
Final Project Final Milestone 8
the same market place. Overall it doesn’t matter if the competitor directly produces music, or distributes is technology, it is always evolving, which brings a higher demand for music.
Foreign Demand
Due to significant improvements to the internet and the increase of access of the internet throughout the world the digital music sales are on the rise. According to the NY Times, in 2012 the global recording industry moving onto the road of recovery (Pfanner, 2013). The demand can be directly linked to the easier access to a global market. In 2012 it’s estimated that digital sales revenue made up for the offset on CD Sales. This article justifies the case that E-sonic needs to launch their internet based service to offset loses e-sonic has faced with the decline in CD sales.
Long-Term Industry Prospect
The record industry as we know it is dying. But the music industry is healthier and more vibrant than ever, with limitless possibilities for change and growth due to the Internet and the digitization of music (Kusek & Leonhard, 2015). People love entertainment and they always continue to enjoy music. It’s important for organizations such as E-Sonic, to adapt its self to the ever changing marketplace. The era of digital downloads is here and the market is always evolving such as the adaption of music streaming as well. The Bureau of Labor Statics sees an increase in the same marketplace due to the high demand for digital music.
Labor Market Assessment
Since this is an online based system it’s important that E-sonic add professionals that specialize in computer information technology. Some of these positions include a computer programmer whose 2012 median pay was $74,280 a year. A database administrator (DBA) whose 2012 median pay was $77,080 a year with a projected 10-19 percent job growth. The
Final Project Final Milestone 9
digital movement of music also needs to have a level of security since customers want to know their personal data is safe. An information security analyst plans and carries out security measures to protect an organizations computer network. This position is median level entry position pays $86, 170 a year. Security analysis is projected to grow 37% from 2012-2022, much faster than average for all occupations.
Functional Capabilities
E-sonic has to put in place the correct infrastructure needed to succeed in its online format. The investment into information systems is crucial for the success of E-sonic. The amount of data and information that needs to be processed to create a digital database to for its users to purchase music. I also think that marketing the new launch is going to be a constant formality of business. Competitors such as ITunes are always marketing themselves by reducing prices, hosting events, and continuously partnering up with recording artist for promotional needs. As consultants I think it’s important that every position be reviewed and staff be re-trained on the new changes in operation that is occurring within in the company. The importance of hiring an operations manager to keep projects operating on time is important. A human resource manager is what is going to tie everything together. The human resource manager will ensure that the objectives of each position is in align with those of the organizations mission.
Human Resource Capabilities
The music industry is a fast paced industry that is constantly changing and improving itself. It’s important that E-Sonic focuses its attention on gathering the right people to begin this start up. The marketing department is in need to revamp themselves I gather this assessment by the amount of time it took to create E-Sonic. Company management doesn’t have much
Final Project Final Milestone 10
knowledge when it comes to the improvements in the digital music age. This weakness needs to be addressed by training session by the human resource department.
Job Descriptions
A job description is a board, general, and written statement for a specific job, based on the findings of a job analysis which is part of a strategic analysis. It will include duties, purposes, and responsibilities. It also referenced as a job outline, or a scope of work for staff. These are important because they form the basic job specifications needed to complete the task given by the employer. A job description will also help E-Sonic to attract the right candidates for the job and provide a reference point for compensation decisions. This will allow them to hold competitive wages in their industry (Job Descriptions, 2003). It’s important that E-Sonic does under pay its staff due to a poor job description.
Job Description – Administrative Assistant
The administrative assistant maintains responsibility for all of E-Sonic’s electrical functions. Administrative assistants should possess strong multi-tasking abilities, exemplary inter-personal skills, and the ability to work with a dynamic environment which thrives on change. Experience working in the recording or technology industry is highly desired.
Administrative Assistant - Job Duties
Use computers for various applications, such as database management or word processing.
Answer telephones and give information to callers, take messages, or transfer calls to appropriate individuals.
Create, maintain, and enter information into database.
Final Project Final Milestone 11
Operate office equipment, such as fax machines, copiers, or phone systems and arrange for repairs when equipment malfunctions.
Attending meetings and record attendance, time, and meeting content
Make copies of correspondence or other printed material.
File and retrieve corporate documents, records, and reports.
Worker Specifications
Anyone or any combination of the following types of preparation: (a) credit for college training leading to a major or concentration in a Business Field or closely related field.
Or
Five years of work experience as a professional staff members supporting mid to top level management in a fast pace industry.
Information Technology Project Manager
The Information Technology Project Manager needs to be able to plan, initiate, and manage information technology (IT) projects. In addition to the technical capabilities of the software engineer, the project manager must possess the ability to effectively lead and manage technical terms, lead and guide the work of technical staff, and serve as a liaison between business and technical aspects of projects. Plan project stages and assess business implications for each stage. Monitor progress to assure deadlines, standards, and cost targets are met.
Information Technology Project Manager – Job Duties
Manage project execution to ensure adherence to budget, schedule, and scope.
Final Project Final Milestone 12
Develop or update project plans for information technology projects, including information such as project technologies, systems information specifications, schedules, funding.
Monitor or track project milestones and deliverables.
Confer with project personnel to identify and resolve problems.
Prepare project status reports by collecting, analyzing, and summarizing information and trends.
Assign duties, responsibilities, and spans of authority to project personnel.
Establish and execute a project communication plan
Information Technology Project Manager – Knowledge
Knowledge on computers and electronics such as processors, chips, electronic equipment, computer hardware and software.
Knowledge of arithmetic, algebra, statistics and their applications to correlate with the digital music age.
Position calls for the knowledge of customer and personal services such as, including meeting quality standards for the digital music industry.
Knowledge of media production, communication and dissemination technique and methods. This includes alternative ways to inform and entertain via written, oral, and visual media.
Worker Specifications
Anyone or any combination of the following types of preparation (a) MBA Degree in Information Technology Studies or a related field in Project Management.
Final Project Final Milestone 13
Or
A minimum of five of years of consecutive service in the IT field / Project Management with a four year degree from an accredited institution.
Marketing Director
The marketing director formulates, directs, and coordinates all E-sonic activities. The marketing director uses insight from the creative and copy writing staff to design E-Sonic’s overall marketing strategy. This position reports directly to E-Sonic’s CEO and top management team, advising firm executives regarding promotion strategies.
Marketing Director – Job Description
Formulate, direct and coordinate marking activities and policies to promote products and services, working with advertising and promotion managers.
Identify, develop, or evaluate marketing strategies based on knowledge of establishment objectives, market characteristics and cost and mark up factors
Work closely with the HR Dept. on the hiring, training, or performance evaluations of marketing and sales staff.
Develop pricing strategies, balancing firm objectives and customer satisfaction.
Use sales forecasting or strategic planning to ensure the sale and profitability of products, lines, or services, analyzing business developments and monitoring market trends.
Initiate market research studies or analyze their findings.
Worker Specifications
Any one or any combination of the following types of preparation:
Final Project Final Milestone 14
(a) A MBA in Marketing or a related field in correlation with the marketing industry. A minimum of five years of experience related in top level management in marketing.
(b) A Bachelor’s Degree from an accredited institution in marketing with a minimum of seven years of experience related in top level management in marketing. Certification such as market research and market analysis in addition to a four year degree is preferable but not required.
Customer Service Agent
The customer service agent confers with E-Sonic clients via telephone, e-mail, and live web chats; providing information about E-Sonic’s products and services, opening and canceling customer accounts, and keeping records of complaints. All customer service representatives report to the director of customer service. This position requires excellent client relation skills, attention to detail, and some experience dealing with customer related concerns in a business environment.
Customer Service Representatives– Job Description
Confer with customers by telephone or in person to provide information about products or services, take or enter orders, cancel accounts, or obtain details of complaints.
Check to ensure that appropriate changes were made to resolve customer’s problems.
Resolve customer’s service or bills complaints by performing activities such as exchanging merchandise, refunding or adjusting billing concerns.
Refer unresolved customer grievances to designated departments for further investigation.
Final Project Final Milestone 15
Keep records of customer interactions or transactions, recording details of inquiries, complaints, or comments, as well as actions taken.
Work Specifications
This position calls for the minimum of a high school diploma or equivalent education. Experience in work-related skills, knowledge, or experience is preferred such as previous customer engagement roles.
E-Sonic Job Structure
Compensable factors – Administrative Assistant
Knowledge
Skills
Abilities
Administrative knowledge (Universal)
Time Management Skills (Universal)
Writing abilities (Universal)
Computer Application knowledge (Universal)
Multi-tasking skills (Universal)
Oral comprehension abilities (Universal)
CEO
Marketing Director
Director of Market Analysis
Market Research Analysist
Creative Director
Copy Writer
Director of Customer Service
Office Manager
Executive Assisstant
Adminstraive Asistance
Customer Service Agent
Director of Software Development
Software Project Manager
Software Testing
Software Enginering
Final Project Final Milestone 16
Budgeting knowledge
Critical thinking
Written expression on an online platform
Online music industry knowledge
Online music search skills
Financial analysis abilities focusing online platform
Determination of Weight each Compensable Factor – Administrative Assistant
Compensable Factor
Relative Percentage Value
Admin & Management Knowledge
30%
Computer Application Knowledge
30%
Time Management Skills
20%
Writing Ability
10%
Online Music Industry Knowledge
5%
Financial Analysis Abilities
5%
Compensable Factors – Information Technology Project Manager
Knowledge
Skills
Abilities
Computer knowledge; including information security, database management, and application development
Critical thinking
Inductive reasoning to find reasoning on unrelated events.
Knowledgeable in mid-level math including arithmetic, geometry, and statistics.
Monitoring performance of yourself and individuals and/or the organizations
Oral and written comprehension
Communication and media knowledge on the basis of technological techniques and Methods in the digital music industry
Coordination of projects and information on an online platform
Problem sensitivity on product, consumer, and online data bases
Final Project Final Milestone 17
Determination of Weight each Compensable Factor – IT Project Manager
Compensable Factor
Relative Percentage Value
Computer Knowledge
30%
Coordinate Projects on an online platform
30%
Oral & Written Compensation
20%
Critical Thinking Skills
10%
Problem Sensitivity
5%
Inductive Reasoning
5%
Compensable Factors - Marketing Director
Knowledge
Skills
Abilities
Computer knowledge, including online trends and techniques to market using f-commerce, or e-commerce format
Multi-tasking skills
Oral and written comprehension
Online music industry
Coordination of projects and information on an online platform
Forecast market trends
Internet and new media
Organizational Leadership including management, and marketing analysis
Deductive and Inductive reasoning
Determination of Weight each Compensable Factor – Marketing Director
Compensable Factor
Relative Percentage Value
Computer knowledge
20%
Multi-task skills
20%
Final Project Final Milestone 18
Coordination of projects and information on an online platform
20%
Ability to forecast market trends
20%
Organizational leadership skills
10%
Oral and written comprehension
10%
Compensable Factors – Customer Service Agent
Knowledge
Skills
Abilities
Computer knowledge on basic skills including file transmissions and open communication
Active listening skills
Oral and written comprehension
Product knowledge based on the digital music industry
Service orientation
Speech clarity
Knowledge on principles and processes for providing customer and personal services.
Persuading others to change their minds or behaviors.
Written expression and written comprehension
Determination of Weight each Compensable Factor – Customer Service Agent
Compensable Factor
Relative Percentage Value
Administrative Knowledge
30%
Knowledge of principles and processes for providing customer and personal services
20%
Service orientation skills
20%
Oral and written comprehension abilities
20%
Active listening skills
10%
Administrative Assistant
Compensable Factor
Total
Degree
1
2
3
4
5
6
Final Project Final Milestone 19
Admin & Management Knowledge
62.5
75 93.75
125
187.5
375
93.75
Computer Application Knowledge
62.5
75 93.75
125
187.5
375
93.75
Time Management Skills
41.6667
50
62.5 83.3333
125
250
83.3333
Writing Ability
20.8333
25 31.25
41.6667
62.5
125
31.25
Online Music Industry Knowledge
10.4167 12.5
15.625
20.8333
31.25
62.5
12.50
Financial Analysis Abilities 10.4167
12.5
15.625
20.8333
31.25
62.5
10.4167
Total Points: Administrative Assistant: 93.75 + 93.75 + 83.33 + 31.25 + 12.50 + 10.42 = 325
Information Technology Project Manager
Compensable Factor
Total
Degree
1
2
3
4
5
6
Computer Knowledge
62.5
75
93.75
125 187.5
375
187.50
Ability to Coordinate Projects
62.5
75
93.75
125 187.5
375
187.50
Oral & Written Compensation
41.6667
50
62.5 83.3333
125
250
83.3333
Critical Thinking Skills
20.8333
25
31.25
41.6667 62.5
125
62.50
Problem Sensitivity
10.4167
12.5
15.625
20.8333 31.25
62.5
31.25
Inductive Reasoning
10.4167
12.5
15.625
20.8333 31.25
62.5
31.25
Total Points: IT Project Manager: 187.50 + 187.50 + 83.3333 + 62.50 + 31.25 + 31.25 = 583.33
Marketing Director
Compensable Factor
Total
Degree
1
2
3
4
5
6
Computer Knowledge
41.66667
50
62.5
83.33333 125
250
125
Multi-Task Skills
41.66667
50
62.5
83.33333 125
250
125
Coordination Projects
41.66667
50
62.5
83.33333
125 250
250
Ability Forecast Market Trends
41.66667
50
62.5
83.33333
125 250
250
Organizational Leadership Skills
20.83333
25
31.25
41.66667
62.5 125
125
Oral and Written Comprehension
20.83333
25
31.25
41.66667
62.5 125
125
Total Points: Marketing Director: 125 + 125 + 250 + 250 + 125 + 125 = 1,000
Final Project Final Milestone 20
Customer Service Agent
Compensable Factor
Total
Degree
1
2
3
4
5
6
Administrative Knowledge
62.5 75
93.75
125
187.5
375
75
Principles and process
41.6667 50
62.5
83.3333
125
250
50
Service orientation Skills
41.6667
50
62.5 83.3333
125
250
83.3333
Oral and written comprehension abilities
41.6667 50
62.5
83.3333
125
250
50
Active listening skills
20.8333
25 31.25
41.6667
62.5
125
31.25
Total Points: Customer Service Agent: 75 + 50 + 83.3333 + 50 + 31.25 = 289.58
Rank Jobs at E-Sonic
Administrative
Sales and Marketing
Operations / MS / IT
Administrative Assistant (325)
Marketing Director (1,000)
IT Project Manager (583.33)
Customer Service Agent (298.58)
Determination of Pay Policy Mix
One of the first steps is to take a survey of what other competitors are paying their employees. Important that E-Sonic does not over compensated their employees. This is crucial since an organizations labor force is one the most expensive factors for an organization to operate. In today’s market it seems that often times benefit packages are costing employers more and more. This is often contributed to the rising cost of benefits that as require level of health insurance and the ever rising cost of health programs.
A respectable mix will include a base pay, benefit cost, a short-term and long term incentives. A base pay entails an individual’s base hourly rate, or annual salary without any of benefits or incentives included into the total. An added benefit package can include child care,
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health care, and other sources of benefits. These can involve either discretionary or legally required benefits. A short term incentive can include bonuses paid to E-Sonics staff above and beyond their base salary. A long term incentive consist of incentives that motivate staff to continue to produce at high levels for a long period of time
Benefit expenses add an additional cost to the compensation package that E-sonic is going to inherit when coming up with a plan. These plans include paid leave, insurance, retirement and savings. According to the U.S. Bureau of Labor Statistic, on average a private industry employer costs averages $2.54 per hour worked for insurance benefits (United States Department of Labor, 2015). The national average for wages and salaries averaged $21.72 per hour (United States Department of Labor, 2015). This indicates that on the on average the total amount paid out by employers to staff was in the range of 69.4 percent of their total cost, with 30.6 percent for benefits.
Stock purchasing often allows employees to either purchase at a reduced price than the market price. It also, at times, allows them to purchase stock at a locked price to increase profits for the employee. Profit sharing consists of a percentage of firms profits distributed to participating employees. It’s important that E-Sonic gives a clear description and also notifies positions that are eligible and not eligible of this partition of their benefit package. When all these items are combined together a competitive compensation can be created.
Pay Policy Mix – Administrative Assistant
The administrative assistant position that we are looking to compensate at E-sonic is going to be considered a level I assistant. We came up with this conclusion from the previous research conducted that laid out the benchmarks and job descriptions of this position. We
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concluded that this position would require a total of 325 points in the compensable factors. An administrative assistant with a factor above that number is considered an II or III depending on the margin it falls under. According to Salary Wizard, the base pay of an administrative assistant is $18.00 an hour with the yearly salary consisting of $37,492.
This position doesn’t allocate itself to long term incentives such as profit sharing and vesting in company stock options. It does, however, consist of yearly bonuses based on the criteria of their management in form of an annual bonuses consisting of $300 to $500. Since this position is considered a regular full time position a benefit package which entails health insurance coverage is also available to the employee. The total contribution of this employee cannot exceed more than 9.8% of their total household gross income, according to federal law.
Pay Policy Mix – Information Technology Project Manager
The role of our IT Project Manager is a major contributor to the success of E-Sonics success. This position calls for a 583.33 points in their compensation factor. These numbers need to be adopted into creating a compensation package. The base pay of an IT Project should
69.40%
25%
4%
0.60%
Compensation
Base Pay
Benefit Pay
Long-Term Incentives
Short-Term Incentives
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surpass the salary of an entry level. The median hourly rate for this position is $36.00 with a total yearly salary of $75,057. The top 10% on average base salary is $101,000 a year. Bonuses for this project range between $2,000 and $3,000 a year based on performance of both the organization and positon.
The proposed base salary for this position should be 78,000 with the possible if additions of bonus. This position should also be entitled to a percentage of what the total amount is going to be designated for profit sharing. Since it’s a mid to high level management position it’s crucial that retention is taking in to consideration with this position. It also adds a sense of security to the employee by adding profit sharing. It can reduce waste and increase productivity
Pay Policy Mix – Marketing Director
Every position at E-Sonic is crucial to the success of E sonic meeting its organization’s goals and objectives. The position of Marketing Director plays a vital role ensuring that E-sonic remains a step ahead of our competitors. This position calls for a lot of responsibility and ranks at 1,000 out of 1,250 total points in the compensable factor. This position calls for a base pay at a salary rate of $130,000 as the median in Manchester, New Hampshire. This position should
69.40%
25.00%
2.50%
0.60%
Compensation
Base Pay
Benefit Pay
Short-Term Incentives
Long-Term Incentives
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entail a long term incentive in the form of stock purchasing options and profit sharing. Since this position is ranked high in our job structure the percentage of long term incentive should be highly considerably higher than lower ranking positions. Short term incentives can range between 5-15% of their total yearly compensation (Glassdoor, 2015).
Pay Policy Mix – Customer Service Representative
The customer service agents help E-sonic communicate and solve and concerns that customers may have. They need to be knowledge have service orientated skills and be able to use critical thinking skills to meet the demand of our customer base. This position is ranked at 289.58 points for an entry level position with three capable promotion levels within the same job title. Median salary of a customer service representative is $32,353. On average they not receive long term incentives but often share short incentives such as bonuses that range between $300 and $500. The benefit package associated with this position often tends to be minimum and consist of contributions of its staff in the form of a percentage of their total base pay towards health insurance.
50%
30%
5%
15%
Compensation
Base Pay
Benefit Pay
Short-Term Incentives
Long-Term Incentives
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Pay – Policy Level Decisions
E-Sonic is located in Manchester, New Hampshire. New Hampshire has a strong labor force with the unemployment rate at 3.9 % which is lower the national average (Security, 2015). E-Sonic should pay its staff at what the market price is calling for. I think adjustments should be made to wages among the discrepancy of the hiring manager and the Human Resource Department. If E-sonic wants to save some money based on our market analysis I think it could reduce the average base pay for lower ranking positions such as administrative assistant and customer service associate. I don’t think they would need to pay more for higher ranking positions due to the state statics and what other organizations such as; Stoney field yogurt, Deacon, and Velcro pays for the same positions. Although these companies are in a different sector, there presence of a music producing organization is Absolut in the state of New Hampshire. Its comparable are companies with the same size of staff with the volume of total revenue.
External Market Survey Marketing and Sales
69%
30%
0%
1%
Compensation
Base Pay
Benefit Pay
Long-Term Incentives
Short-Term Incentives
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Job
Minimum
1st Quartile
Average
Median
3rd Quartile
Maximum
Market Research Analyst
45,075.80
48,747.81
51,351.22
51,202.79
53,674.86
58,993.59
Artist Relationship Manager
55,120.25
60,434.83
64,443.70
64,452.84
68,082.58
75,028.03
Creative Director
65,388.06
73,567.79
80,151.40
80,260.97
86,262.97
96,348.26
Director of Market Analysis
70,283.08
77,969.16
83,051.70
82,797.91
87,846.71
96,395.48
Marketing Director
40,165.76
46,035.11
53,136.13
52,282.20
59,607.57
69,639.22
External Market Survey Information Technology
Job
Minimum
1st Quartile
Average
Median
3rd Quartile
Maximum
Software Testing Specialist
35,304.81
46,985.43
58,441.18
57,089.25
70,782.24
85,820.67
Software Engineer
55,120.25
64,460.70
73,747.70
72,857.35
82,770.01
96,395.48
Software Project Manager
35,094.46
43,708.06
52,475.92
51,325.47
60,840.00
75,072.02
Director of Software Development
65,388.06
88,733.55
114,150.99
114,680.13
140,019.83
160,933.47
External Market Survey – Customer Service
Job
Minimum
1st Quartile
Average
Median
3rd Quartile
Maximum
Customer Service Agent
35,243.71
38,100.29
40,208.75
40,249.19
42,373.25
46,113.89
Director of Customer Service
59,103.77
63,618.16
66,722.51
66,700.44
69,646.64
75,022.66
External Market Survey – Administrative Assistant
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Job
Minimum
1st Quartile
Average
Median
3rd Quartile
Maximum
Copy Writer
35,243.71
38,100.29
40,208.75
40,249.19
42,373.25
46,113.89
Office Manager
43,137.63
50,347.63
57,232.60
56,752.55
63,574.09
75,022.66
Conclusion
I used many different outlets to gather all the information needed to compile this paper together. This package is designed to give E-sonic a perspective on how to draft and create a paper that will give them a competitive advantage above their competitors. I used the strategic approach on gathering my information by following an array of steps to ensure that I was not creating a package that was compatible the industry and market that E-sonic is associated with. I reached dilemmas when creating the weight among positions and using a point method system to different position by responsibility, task, skills, knowledge needed.
The importance of conducting my research I ran into the dilemma of finding expired information. Since compensation rates, CPI, and pay scales are always evolving it’s important to find accurate and up to date information available. Although historical information was used to determine and predict future market trends, the basis of this paper was to conduct research on the current market to apply it to a competitive compensation package. I used my research to find out information that I was not sure about an example of this was the changing CPI numbers that are posted by the U.S. Federal Government. I also had to research market value since pay scales differ from state to state and often times from city to city.
The research conducted allowed me to view information from competitors ranging in sizes from Apple, Amazon and other smaller file sharing programs such as torrent databases. Since the internet is always evolving I needed ensure that the position listed were positions that
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were going to be suited for the job duties that would align with the success of E-sonic. In conducting my research I also discovered the importance of the amount of communication that has to be followed by both management and staff. When a job description is written it needs to comprehensible to the party reading the information. A clear description leads to a path for that individual to complete the task at hand with the resources he is provided with.
I utilized my analytical skills throughout conducting my research. When drafting a point system I need to often go back to revise the weight of the factors that I found appropriate for that position. I had to make a decision on what was the best and beneficial format to follow to not only benefit E-sonic but also to allow a fair opportunity for the candidate filling the position. As with any package there is always going to be constant revision to fine tune the compensation package to be accurate and fair to both parties.
The purpose of this paper was not only to design a package to be presented to E-sonic management to solve the issues of creating new and competitive compensation packages for positions needed in the expansion of E-sonic. It took multiple outlines to ensure that we met all the criteria needed. A large amount of research conducted from multiple sources and also a critical thinking to piece it together to come up with the competitive compensation packages that aligns with the executive summary of E-sonic and helps them succeed in the future.
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References
Elmer-Dewitt, P. (2013, 07 21). Time Inc. Retrieved 03 26, 2015, from Fortune Website: http://fortune.com/2013/07/21/how-much-revenue-did-itunes-generate-for-apple-last-quarter/
Glassdoor. (2015). Glassdoor, Inc. Retrieved 04 17, 2015, from http://www.glassdoor.com/Salaries/marketing-director-salary-SRCH_KO0,18.htm
Job Descriptions. (2003, 01). Information Management Journal, 37(1), 406-407.
Kusek , D. , & Leonhard, G. (2015). Berklee School of Music. Retrieved 03 24, 2015, from http://online.berklee.edu/store/product?product_id=2583359&usca_p=t
North American Industry Classification System (NAICS). (2013, 05 13). U.S. Census Bureau | North American Industry Classification System (NAICS). Retrieved 03 26, 2015, from U.S. Department of Commerce: http://www.census.gov/cgi-bin/sssd/naics/naicsrch?code=512210&search=2012%20NAICS%20Search
Pfanner, E. (2013, 02 26). The New York Company. Retrieved 03 26, 2015, from New York Times: http://www.nytimes.com/2013/02/27/technology/music-industry-records-first-revenue-increase-since-1999.html?_r=0
Security, N. H. (2015, 04 14). New Hampshire Employment Security (NHES). Retrieved from http://www.nhes.nh.gov/elmi/statistics/documents/nr-current.pdf
United States Department of Labor. (2015, 03 11). Bureau of Labor Statistic. Retrieved from http://www.bls.gov/news.release/ecec.nr0.htm
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E-Sonic Records Compensation Format
Southern New Hampshire University
Final Project Final Milestone 2
Abstract
This final paper is combination of previous research to give E-Sonic a clear understanding on the procedures in completing a total compensation package. We will also look into the historical perspective on compensation packages. These packages include base pay, benefit packages and both short and long term incentives to retain and recruit talent. The output is sourced from the three major sections of research. I will give information gathered in each individual step to formulate a total package that will be competitive and attractive to our labor force. I will review the strategic analysis procedure to give an in depth look into industry profile, competition, foreign demand and labor market assessment. The internally consistent job structure is an important step. The formation of writing job descriptions, development of job structures, and both the development and implementation of a point evaluation method to quantify job differences objectively. The external competiveness is focused on where we take the direct relationship of external factors in creating a competitive pay package. The final portion of this paper ties everything together to give us the complete overlook on how compensation packages are formed and implanted within an organization. We, conclude the findings and give this organization a look on how we used the given resources to comply a tailor a compensation package to e-sonic.
Keywords: Compensation package, Pay scales, Job structure, Labor market assessment, Strategic analysis
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E-Sonic Records Compensation Format
Introduction
E-Sonic is a 1,000 employee based company that is looking to expand its products and services on a digital format. They have their revenue stream decline over the years due to the advancements in technology and the demand for digital music vs traditional music, which consists of records and cds. The digital music industry is thriving with E-Sonics competitors posting gains on this type of product. Competitors such as Apples ITunes, Google Play, and Amazon’s Prime for streaming music. If E-sonic wants to turn around the decline in revenue their market entry point has to be now.
In addition to the new staff, new positions need to be created to ensure the success of the organization. Since digital music consists of a massive amount of stored data, positions such as data managers, information security specialists, and information technology project managers have to be hired to fulfill the demand of new customers. The shift from traditional marketing to an online platform also means hiring a creative director with a new marketing director to give market analysis and trends.
These positions consisted of different pay structures and pay levels. Being a consultant for E-sonic market research is done internally and externally to see what other competitors are compensating for these positions. E-sonic is eyeing for the most talented individuals to fill these positions and keeping their completive and aligned with the market median in wages and benefits. Since this is a new startup within an organization it’s important that E-sonic does not over pay for positions by not conducting the proper research with the information available to them.
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Historical Perspective
Workers Compensation has evolved over time to ensure that employees are being compensated fairly. A majority of time the labor force market dictates what employees should be compensated by adjusting itself to factors such as cost of living increases, inflation, and non-union and union negations. Companies need to ensure that they are in compliance with federal and state regulation when drafting their compensation packages. Compensation packages have evolved from base pay to a complex set of packages. These packages consist of base pay and benefit pay which include short and long term incentives.
The Department of Labor ensures that organizations are meeting the regulations put into place to give employees are fair and balanced compensation packages. In the past when no regulations were put into place, employees were treated poorly with very little compensation for the total amount of work they completed. A good example of this would be working long hours but only get paid the minimum amount. This law was implemented to remove this practice from the workforce. The enforcement of office workers compensation programs (OWCP) has four major disability compensation programs. These packages consist of wage replacement benefits, medical treatment, vocational rehabilitation and other key benefits.
The Fair Labor Standards Act (FLSA designed standards and overtime pay, which affected most private and public employment. This historic milestone was designed to give people fair opportunity for pay increases and pay equity which continues to be a topic of concern. This historical addition to the compensation of U.S. workers had led to the increase in productivity and has made our economy stronger. The importance of compensation packages is what shapes an organizations vision. In executive summaries corporations often include ethical and employee relations, which entails compensation packages.
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Executive Summary
The e-commerce market has exploded with online music platforms that allow users and subscribers to purchase music at a reduced rate. E-Sonic is entering this market trend with the promises of increasing overall revenue by providing an effective and efficient product and service to its consumers. The rapid growth of this industry is on the rise with the age of digital music and streaming being in high demand. Sonic Records will be launching E-sonic to allow music to be purchased online. Although the market consist of a multitude of organizations big and small offering similar products and services, E-sonic is looking to differentiate themselves from its competitors by creating a relation with its consumers.
The starting price for products will range from $0.75 – $1.25 a song. The purchase of entire albums will be at a reduced by price ranging from $9.99 to $12.99 depending on the negotiated contract with the other record labels. This pricing strategy will give E-sonic subscribers the opportunity to have a wider range of a music selection. E-sonic believes that it will provide consumers a new service at a reduced rates compared to their competitors. Music downloaded and purchased from our site is provided at high resolution and to provide high levels of output to increase its quality.
E-sonic has aligned its mission to provide an outstanding product with exceptional services by hiring the most talented individuals available. E-sonic is offering competitive and fair compensation packages that include more than just a base pay. A well rounded compensation package, in which it in entails short and long term incentives. This will allow us not only to attract but to also retain talent. This initiative will directly impact our production and services adding a sound and well structure organization.
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Strategic Analysis
Every industry in the United States falls under a category that is determined by the North American Industrial Classification System (NAICS). According to the NAICS, E-Sonic is under code 5122 which is Sound Recording Industries. Furthermore E-Sonic NAICS has it classified as a Record Production. These establishments contract with artists and arrange and finance the production of original master recordings. They also hold the rights to reproduce and sell making it a majority of its revenue (North American Industry Classification System (NAICS), 2013). This information is a necessity for E-Sonic to gain knowledge of its market place and to have a concept on who and what is their direct competitors.
External Market Environment
As stated above E-Sonic falls under code 5122 (Sound Recording Industries). This industry group comprises establishments primarily engaged in producing and distributing musical recordings, in publishing music, or in providing sound recording and related services (North American Industry Classification System (NAICS)).This is a highly competitive market and according to the U.S Census in 2009 the recording industry took in $14.8 billion in revenue. This shows an increase from the previous years. E-Sonic is facing a shift in the market going fromMP3 to the ability to stream music instead of purchasing it.
In a census conduct by the United States in digital downloads of music of single tracks is predict to be 1.2 billion and in full album downloads it reached 763.40 million in the United States alone. This creates a heavily competitive atmosphere with giant music sharing platforms such as I Tunes, Amazon, and SoundCloud. These organizations are constantly evaluating to give themselves an advantage in the marketplace. They understand the demand by its users and
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continue to thrive for innovation to continue success. E-sonic needs to follow in the same footsteps, yet differ themselves to make their product efficient, effective, and unique.
Competition
E-sound faces a couple of giants in the industry, one of them being Apple. The launch of ITunes was a major success for Apple in which it saw millions of subscribers flock it to start downloading music, movies, and TV shows. It also has the capability to stream live radio, and podcast, which is a digital, audio file made available on the Internet for downloading to a computer or portable media player, typically available as a series, new installments of which can be received by subscribers automatically. According to Fortune website a study was conducted by 40 analysists and it is estimated that ITunes did $4.1 billion in sales 28% higher than the previous year (Elmer-Dewitt, 2013). We can use those numbers to determine that our point of market entry is a bit late but we can succeed if we (E-sonic) diversify ourselves and offer a unique product/service that will give us the competitive advantage.
Organizations are often diversifying themselves and Amazon has launched a music purchasing agent, called Prime music. It offers over a million songs, and hundreds of playlists, ad-free, and personalized stations. Amazon has marketed this offering by including it in a package for its Prime subscribers. The concept that they follow is that everything is based on streaming, so you never own the song. This has allowed them to not charge for the song. Again this is another competitor with the same concept and a different approach.
SoundCloud allows its users to directly upload their own music and share it with other friends. This is not a direct competitor but an indirect competitor because it constantly takes potential customers away who want a free type of service. They cater to the same consumers in
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the same market place. Overall it doesn’t matter if the competitor directly produces music, or distributes is technology, it is always evolving, which brings a higher demand for music.
Foreign Demand
Due to significant improvements to the internet and the increase of access of the internet throughout the world the digital music sales are on the rise. According to the NY Times, in 2012 the global recording industry moving onto the road of recovery (Pfanner, 2013). The demand can be directly linked to the easier access to a global market. In 2012 it’s estimated that digital sales revenue made up for the offset on CD Sales. This article justifies the case that E-sonic needs to launch their internet based service to offset loses e-sonic has faced with the decline in CD sales.
Long-Term Industry Prospect
The record industry as we know it is dying. But the music industry is healthier and more vibrant than ever, with limitless possibilities for change and growth due to the Internet and the digitization of music (Kusek & Leonhard, 2015). People love entertainment and they always continue to enjoy music. It’s important for organizations such as E-Sonic, to adapt its self to the ever changing marketplace. The era of digital downloads is here and the market is always evolving such as the adaption of music streaming as well. The Bureau of Labor Statics sees an increase in the same marketplace due to the high demand for digital music.
Labor Market Assessment
Since this is an online based system it’s important that E-sonic add professionals that specialize in computer information technology. Some of these positions include a computer programmer whose 2012 median pay was $74,280 a year. A database administrator (DBA) whose 2012 median pay was $77,080 a year with a projected 10-19 percent job growth. The
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digital movement of music also needs to have a level of security since customers want to know their personal data is safe. An information security analyst plans and carries out security measures to protect an organizations computer network. This position is median level entry position pays $86, 170 a year. Security analysis is projected to grow 37% from 2012-2022, much faster than average for all occupations.
Functional Capabilities
E-sonic has to put in place the correct infrastructure needed to succeed in its online format. The investment into information systems is crucial for the success of E-sonic. The amount of data and information that needs to be processed to create a digital database to for its users to purchase music. I also think that marketing the new launch is going to be a constant formality of business. Competitors such as ITunes are always marketing themselves by reducing prices, hosting events, and continuously partnering up with recording artist for promotional needs. As consultants I think it’s important that every position be reviewed and staff be re-trained on the new changes in operation that is occurring within in the company. The importance of hiring an operations manager to keep projects operating on time is important. A human resource manager is what is going to tie everything together. The human resource manager will ensure that the objectives of each position is in align with those of the organizations mission.
Human Resource Capabilities
The music industry is a fast paced industry that is constantly changing and improving itself. It’s important that E-Sonic focuses its attention on gathering the right people to begin this start up. The marketing department is in need to revamp themselves I gather this assessment by the amount of time it took to create E-Sonic. Company management doesn’t have much
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knowledge when it comes to the improvements in the digital music age. This weakness needs to be addressed by training session by the human resource department.
Job Descriptions
A job description is a board, general, and written statement for a specific job, based on the findings of a job analysis which is part of a strategic analysis. It will include duties, purposes, and responsibilities. It also referenced as a job outline, or a scope of work for staff. These are important because they form the basic job specifications needed to complete the task given by the employer. A job description will also help E-Sonic to attract the right candidates for the job and provide a reference point for compensation decisions. This will allow them to hold competitive wages in their industry (Job Descriptions, 2003). It’s important that E-Sonic does under pay its staff due to a poor job description.
Job Description – Administrative Assistant
The administrative assistant maintains responsibility for all of E-Sonic’s electrical functions. Administrative assistants should possess strong multi-tasking abilities, exemplary inter-personal skills, and the ability to work with a dynamic environment which thrives on change. Experience working in the recording or technology industry is highly desired.
Administrative Assistant - Job Duties
Use computers for various applications, such as database management or word processing.
Answer telephones and give information to callers, take messages, or transfer calls to appropriate individuals.
Create, maintain, and enter information into database.
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Operate office equipment, such as fax machines, copiers, or phone systems and arrange for repairs when equipment malfunctions.
Attending meetings and record attendance, time, and meeting content
Make copies of correspondence or other printed material.
File and retrieve corporate documents, records, and reports.
Worker Specifications
Anyone or any combination of the following types of preparation: (a) credit for college training leading to a major or concentration in a Business Field or closely related field.
Or
Five years of work experience as a professional staff members supporting mid to top level management in a fast pace industry.
Information Technology Project Manager
The Information Technology Project Manager needs to be able to plan, initiate, and manage information technology (IT) projects. In addition to the technical capabilities of the software engineer, the project manager must possess the ability to effectively lead and manage technical terms, lead and guide the work of technical staff, and serve as a liaison between business and technical aspects of projects. Plan project stages and assess business implications for each stage. Monitor progress to assure deadlines, standards, and cost targets are met.
Information Technology Project Manager – Job Duties
Manage project execution to ensure adherence to budget, schedule, and scope.
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Develop or update project plans for information technology projects, including information such as project technologies, systems information specifications, schedules, funding.
Monitor or track project milestones and deliverables.
Confer with project personnel to identify and resolve problems.
Prepare project status reports by collecting, analyzing, and summarizing information and trends.
Assign duties, responsibilities, and spans of authority to project personnel.
Establish and execute a project communication plan
Information Technology Project Manager – Knowledge
Knowledge on computers and electronics such as processors, chips, electronic equipment, computer hardware and software.
Knowledge of arithmetic, algebra, statistics and their applications to correlate with the digital music age.
Position calls for the knowledge of customer and personal services such as, including meeting quality standards for the digital music industry.
Knowledge of media production, communication and dissemination technique and methods. This includes alternative ways to inform and entertain via written, oral, and visual media.
Worker Specifications
Anyone or any combination of the following types of preparation (a) MBA Degree in Information Technology Studies or a related field in Project Management.
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Or
A minimum of five of years of consecutive service in the IT field / Project Management with a four year degree from an accredited institution.
Marketing Director
The marketing director formulates, directs, and coordinates all E-sonic activities. The marketing director uses insight from the creative and copy writing staff to design E-Sonic’s overall marketing strategy. This position reports directly to E-Sonic’s CEO and top management team, advising firm executives regarding promotion strategies.
Marketing Director – Job Description
Formulate, direct and coordinate marking activities and policies to promote products and services, working with advertising and promotion managers.
Identify, develop, or evaluate marketing strategies based on knowledge of establishment objectives, market characteristics and cost and mark up factors
Work closely with the HR Dept. on the hiring, training, or performance evaluations of marketing and sales staff.
Develop pricing strategies, balancing firm objectives and customer satisfaction.
Use sales forecasting or strategic planning to ensure the sale and profitability of products, lines, or services, analyzing business developments and monitoring market trends.
Initiate market research studies or analyze their findings.
Worker Specifications
Any one or any combination of the following types of preparation:
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(a) A MBA in Marketing or a related field in correlation with the marketing industry. A minimum of five years of experience related in top level management in marketing.
(b) A Bachelor’s Degree from an accredited institution in marketing with a minimum of seven years of experience related in top level management in marketing. Certification such as market research and market analysis in addition to a four year degree is preferable but not required.
Customer Service Agent
The customer service agent confers with E-Sonic clients via telephone, e-mail, and live web chats; providing information about E-Sonic’s products and services, opening and canceling customer accounts, and keeping records of complaints. All customer service representatives report to the director of customer service. This position requires excellent client relation skills, attention to detail, and some experience dealing with customer related concerns in a business environment.
Customer Service Representatives– Job Description
Confer with customers by telephone or in person to provide information about products or services, take or enter orders, cancel accounts, or obtain details of complaints.
Check to ensure that appropriate changes were made to resolve customer’s problems.
Resolve customer’s service or bills complaints by performing activities such as exchanging merchandise, refunding or adjusting billing concerns.
Refer unresolved customer grievances to designated departments for further investigation.
Final Project Final Milestone 15
Keep records of customer interactions or transactions, recording details of inquiries, complaints, or comments, as well as actions taken.
Work Specifications
This position calls for the minimum of a high school diploma or equivalent education. Experience in work-related skills, knowledge, or experience is preferred such as previous customer engagement roles.
E-Sonic Job Structure
Compensable factors – Administrative Assistant
Knowledge
Skills
Abilities
Administrative knowledge (Universal)
Time Management Skills (Universal)
Writing abilities (Universal)
Computer Application knowledge (Universal)
Multi-tasking skills (Universal)
Oral comprehension abilities (Universal)
CEO
Marketing Director
Director of Market Analysis
Market Research Analysist
Creative Director
Copy Writer
Director of Customer Service
Office Manager
Executive Assisstant
Adminstraive Asistance
Customer Service Agent
Director of Software Development
Software Project Manager
Software Testing
Software Enginering
Final Project Final Milestone 16
Budgeting knowledge
Critical thinking
Written expression on an online platform
Online music industry knowledge
Online music search skills
Financial analysis abilities focusing online platform
Determination of Weight each Compensable Factor – Administrative Assistant
Compensable Factor
Relative Percentage Value
Admin & Management Knowledge
30%
Computer Application Knowledge
30%
Time Management Skills
20%
Writing Ability
10%
Online Music Industry Knowledge
5%
Financial Analysis Abilities
5%
Compensable Factors – Information Technology Project Manager
Knowledge
Skills
Abilities
Computer knowledge; including information security, database management, and application development
Critical thinking
Inductive reasoning to find reasoning on unrelated events.
Knowledgeable in mid-level math including arithmetic, geometry, and statistics.
Monitoring performance of yourself and individuals and/or the organizations
Oral and written comprehension
Communication and media knowledge on the basis of technological techniques and Methods in the digital music industry
Coordination of projects and information on an online platform
Problem sensitivity on product, consumer, and online data bases
Final Project Final Milestone 17
Determination of Weight each Compensable Factor – IT Project Manager
Compensable Factor
Relative Percentage Value
Computer Knowledge
30%
Coordinate Projects on an online platform
30%
Oral & Written Compensation
20%
Critical Thinking Skills
10%
Problem Sensitivity
5%
Inductive Reasoning
5%
Compensable Factors - Marketing Director
Knowledge
Skills
Abilities
Computer knowledge, including online trends and techniques to market using f-commerce, or e-commerce format
Multi-tasking skills
Oral and written comprehension
Online music industry
Coordination of projects and information on an online platform
Forecast market trends
Internet and new media
Organizational Leadership including management, and marketing analysis
Deductive and Inductive reasoning
Determination of Weight each Compensable Factor – Marketing Director
Compensable Factor
Relative Percentage Value
Computer knowledge
20%
Multi-task skills
20%
Final Project Final Milestone 18
Coordination of projects and information on an online platform
20%
Ability to forecast market trends
20%
Organizational leadership skills
10%
Oral and written comprehension
10%
Compensable Factors – Customer Service Agent
Knowledge
Skills
Abilities
Computer knowledge on basic skills including file transmissions and open communication
Active listening skills
Oral and written comprehension
Product knowledge based on the digital music industry
Service orientation
Speech clarity
Knowledge on principles and processes for providing customer and personal services.
Persuading others to change their minds or behaviors.
Written expression and written comprehension
Determination of Weight each Compensable Factor – Customer Service Agent
Compensable Factor
Relative Percentage Value
Administrative Knowledge
30%
Knowledge of principles and processes for providing customer and personal services
20%
Service orientation skills
20%
Oral and written comprehension abilities
20%
Active listening skills
10%
Administrative Assistant
Compensable Factor
Total
Degree
1
2
3
4
5
6
Final Project Final Milestone 19
Admin & Management Knowledge
62.5
75 93.75
125
187.5
375
93.75
Computer Application Knowledge
62.5
75 93.75
125
187.5
375
93.75
Time Management Skills
41.6667
50
62.5 83.3333
125
250
83.3333
Writing Ability
20.8333
25 31.25
41.6667
62.5
125
31.25
Online Music Industry Knowledge
10.4167 12.5
15.625
20.8333
31.25
62.5
12.50
Financial Analysis Abilities 10.4167
12.5
15.625
20.8333
31.25
62.5
10.4167
Total Points: Administrative Assistant: 93.75 + 93.75 + 83.33 + 31.25 + 12.50 + 10.42 = 325
Information Technology Project Manager
Compensable Factor
Total
Degree
1
2
3
4
5
6
Computer Knowledge
62.5
75
93.75
125 187.5
375
187.50
Ability to Coordinate Projects
62.5
75
93.75
125 187.5
375
187.50
Oral & Written Compensation
41.6667
50
62.5 83.3333
125
250
83.3333
Critical Thinking Skills
20.8333
25
31.25
41.6667 62.5
125
62.50
Problem Sensitivity
10.4167
12.5
15.625
20.8333 31.25
62.5
31.25
Inductive Reasoning
10.4167
12.5
15.625
20.8333 31.25
62.5
31.25
Total Points: IT Project Manager: 187.50 + 187.50 + 83.3333 + 62.50 + 31.25 + 31.25 = 583.33
Marketing Director
Compensable Factor
Total
Degree
1
2
3
4
5
6
Computer Knowledge
41.66667
50
62.5
83.33333 125
250
125
Multi-Task Skills
41.66667
50
62.5
83.33333 125
250
125
Coordination Projects
41.66667
50
62.5
83.33333
125 250
250
Ability Forecast Market Trends
41.66667
50
62.5
83.33333
125 250
250
Organizational Leadership Skills
20.83333
25
31.25
41.66667
62.5 125
125
Oral and Written Comprehension
20.83333
25
31.25
41.66667
62.5 125
125
Total Points: Marketing Director: 125 + 125 + 250 + 250 + 125 + 125 = 1,000
Final Project Final Milestone 20
Customer Service Agent
Compensable Factor
Total
Degree
1
2
3
4
5
6
Administrative Knowledge
62.5 75
93.75
125
187.5
375
75
Principles and process
41.6667 50
62.5
83.3333
125
250
50
Service orientation Skills
41.6667
50
62.5 83.3333
125
250
83.3333
Oral and written comprehension abilities
41.6667 50
62.5
83.3333
125
250
50
Active listening skills
20.8333
25 31.25
41.6667
62.5
125
31.25
Total Points: Customer Service Agent: 75 + 50 + 83.3333 + 50 + 31.25 = 289.58
Rank Jobs at E-Sonic
Administrative
Sales and Marketing
Operations / MS / IT
Administrative Assistant (325)
Marketing Director (1,000)
IT Project Manager (583.33)
Customer Service Agent (298.58)
Determination of Pay Policy Mix
One of the first steps is to take a survey of what other competitors are paying their employees. Important that E-Sonic does not over compensated their employees. This is crucial since an organizations labor force is one the most expensive factors for an organization to operate. In today’s market it seems that often times benefit packages are costing employers more and more. This is often contributed to the rising cost of benefits that as require level of health insurance and the ever rising cost of health programs.
A respectable mix will include a base pay, benefit cost, a short-term and long term incentives. A base pay entails an individual’s base hourly rate, or annual salary without any of benefits or incentives included into the total. An added benefit package can include child care,
Final Project Final Milestone 21
health care, and other sources of benefits. These can involve either discretionary or legally required benefits. A short term incentive can include bonuses paid to E-Sonics staff above and beyond their base salary. A long term incentive consist of incentives that motivate staff to continue to produce at high levels for a long period of time
Benefit expenses add an additional cost to the compensation package that E-sonic is going to inherit when coming up with a plan. These plans include paid leave, insurance, retirement and savings. According to the U.S. Bureau of Labor Statistic, on average a private industry employer costs averages $2.54 per hour worked for insurance benefits (United States Department of Labor, 2015). The national average for wages and salaries averaged $21.72 per hour (United States Department of Labor, 2015). This indicates that on the on average the total amount paid out by employers to staff was in the range of 69.4 percent of their total cost, with 30.6 percent for benefits.
Stock purchasing often allows employees to either purchase at a reduced price than the market price. It also, at times, allows them to purchase stock at a locked price to increase profits for the employee. Profit sharing consists of a percentage of firms profits distributed to participating employees. It’s important that E-Sonic gives a clear description and also notifies positions that are eligible and not eligible of this partition of their benefit package. When all these items are combined together a competitive compensation can be created.
Pay Policy Mix – Administrative Assistant
The administrative assistant position that we are looking to compensate at E-sonic is going to be considered a level I assistant. We came up with this conclusion from the previous research conducted that laid out the benchmarks and job descriptions of this position. We
Final Project Final Milestone 22
concluded that this position would require a total of 325 points in the compensable factors. An administrative assistant with a factor above that number is considered an II or III depending on the margin it falls under. According to Salary Wizard, the base pay of an administrative assistant is $18.00 an hour with the yearly salary consisting of $37,492.
This position doesn’t allocate itself to long term incentives such as profit sharing and vesting in company stock options. It does, however, consist of yearly bonuses based on the criteria of their management in form of an annual bonuses consisting of $300 to $500. Since this position is considered a regular full time position a benefit package which entails health insurance coverage is also available to the employee. The total contribution of this employee cannot exceed more than 9.8% of their total household gross income, according to federal law.
Pay Policy Mix – Information Technology Project Manager
The role of our IT Project Manager is a major contributor to the success of E-Sonics success. This position calls for a 583.33 points in their compensation factor. These numbers need to be adopted into creating a compensation package. The base pay of an IT Project should
69.40%
25%
4%
0.60%
Compensation
Base Pay
Benefit Pay
Long-Term Incentives
Short-Term Incentives
Final Project Final Milestone 23
surpass the salary of an entry level. The median hourly rate for this position is $36.00 with a total yearly salary of $75,057. The top 10% on average base salary is $101,000 a year. Bonuses for this project range between $2,000 and $3,000 a year based on performance of both the organization and positon.
The proposed base salary for this position should be 78,000 with the possible if additions of bonus. This position should also be entitled to a percentage of what the total amount is going to be designated for profit sharing. Since it’s a mid to high level management position it’s crucial that retention is taking in to consideration with this position. It also adds a sense of security to the employee by adding profit sharing. It can reduce waste and increase productivity
Pay Policy Mix – Marketing Director
Every position at E-Sonic is crucial to the success of E sonic meeting its organization’s goals and objectives. The position of Marketing Director plays a vital role ensuring that E-sonic remains a step ahead of our competitors. This position calls for a lot of responsibility and ranks at 1,000 out of 1,250 total points in the compensable factor. This position calls for a base pay at a salary rate of $130,000 as the median in Manchester, New Hampshire. This position should
69.40%
25.00%
2.50%
0.60%
Compensation
Base Pay
Benefit Pay
Short-Term Incentives
Long-Term Incentives
Final Project Final Milestone 24
entail a long term incentive in the form of stock purchasing options and profit sharing. Since this position is ranked high in our job structure the percentage of long term incentive should be highly considerably higher than lower ranking positions. Short term incentives can range between 5-15% of their total yearly compensation (Glassdoor, 2015).
Pay Policy Mix – Customer Service Representative
The customer service agents help E-sonic communicate and solve and concerns that customers may have. They need to be knowledge have service orientated skills and be able to use critical thinking skills to meet the demand of our customer base. This position is ranked at 289.58 points for an entry level position with three capable promotion levels within the same job title. Median salary of a customer service representative is $32,353. On average they not receive long term incentives but often share short incentives such as bonuses that range between $300 and $500. The benefit package associated with this position often tends to be minimum and consist of contributions of its staff in the form of a percentage of their total base pay towards health insurance.
50%
30%
5%
15%
Compensation
Base Pay
Benefit Pay
Short-Term Incentives
Long-Term Incentives
Final Project Final Milestone 25
Pay – Policy Level Decisions
E-Sonic is located in Manchester, New Hampshire. New Hampshire has a strong labor force with the unemployment rate at 3.9 % which is lower the national average (Security, 2015). E-Sonic should pay its staff at what the market price is calling for. I think adjustments should be made to wages among the discrepancy of the hiring manager and the Human Resource Department. If E-sonic wants to save some money based on our market analysis I think it could reduce the average base pay for lower ranking positions such as administrative assistant and customer service associate. I don’t think they would need to pay more for higher ranking positions due to the state statics and what other organizations such as; Stoney field yogurt, Deacon, and Velcro pays for the same positions. Although these companies are in a different sector, there presence of a music producing organization is Absolut in the state of New Hampshire. Its comparable are companies with the same size of staff with the volume of total revenue.
External Market Survey Marketing and Sales
69%
30%
0%
1%
Compensation
Base Pay
Benefit Pay
Long-Term Incentives
Short-Term Incentives
Final Project Final Milestone 26
Job
Minimum
1st Quartile
Average
Median
3rd Quartile
Maximum
Market Research Analyst
45,075.80
48,747.81
51,351.22
51,202.79
53,674.86
58,993.59
Artist Relationship Manager
55,120.25
60,434.83
64,443.70
64,452.84
68,082.58
75,028.03
Creative Director
65,388.06
73,567.79
80,151.40
80,260.97
86,262.97
96,348.26
Director of Market Analysis
70,283.08
77,969.16
83,051.70
82,797.91
87,846.71
96,395.48
Marketing Director
40,165.76
46,035.11
53,136.13
52,282.20
59,607.57
69,639.22
External Market Survey Information Technology
Job
Minimum
1st Quartile
Average
Median
3rd Quartile
Maximum
Software Testing Specialist
35,304.81
46,985.43
58,441.18
57,089.25
70,782.24
85,820.67
Software Engineer
55,120.25
64,460.70
73,747.70
72,857.35
82,770.01
96,395.48
Software Project Manager
35,094.46
43,708.06
52,475.92
51,325.47
60,840.00
75,072.02
Director of Software Development
65,388.06
88,733.55
114,150.99
114,680.13
140,019.83
160,933.47
External Market Survey – Customer Service
Job
Minimum
1st Quartile
Average
Median
3rd Quartile
Maximum
Customer Service Agent
35,243.71
38,100.29
40,208.75
40,249.19
42,373.25
46,113.89
Director of Customer Service
59,103.77
63,618.16
66,722.51
66,700.44
69,646.64
75,022.66
External Market Survey – Administrative Assistant
Final Project Final Milestone 27
Job
Minimum
1st Quartile
Average
Median
3rd Quartile
Maximum
Copy Writer
35,243.71
38,100.29
40,208.75
40,249.19
42,373.25
46,113.89
Office Manager
43,137.63
50,347.63
57,232.60
56,752.55
63,574.09
75,022.66
Conclusion
I used many different outlets to gather all the information needed to compile this paper together. This package is designed to give E-sonic a perspective on how to draft and create a paper that will give them a competitive advantage above their competitors. I used the strategic approach on gathering my information by following an array of steps to ensure that I was not creating a package that was compatible the industry and market that E-sonic is associated with. I reached dilemmas when creating the weight among positions and using a point method system to different position by responsibility, task, skills, knowledge needed.
The importance of conducting my research I ran into the dilemma of finding expired information. Since compensation rates, CPI, and pay scales are always evolving it’s important to find accurate and up to date information available. Although historical information was used to determine and predict future market trends, the basis of this paper was to conduct research on the current market to apply it to a competitive compensation package. I used my research to find out information that I was not sure about an example of this was the changing CPI numbers that are posted by the U.S. Federal Government. I also had to research market value since pay scales differ from state to state and often times from city to city.
The research conducted allowed me to view information from competitors ranging in sizes from Apple, Amazon and other smaller file sharing programs such as torrent databases. Since the internet is always evolving I needed ensure that the position listed were positions that
Final Project Final Milestone 28
were going to be suited for the job duties that would align with the success of E-sonic. In conducting my research I also discovered the importance of the amount of communication that has to be followed by both management and staff. When a job description is written it needs to comprehensible to the party reading the information. A clear description leads to a path for that individual to complete the task at hand with the resources he is provided with.
I utilized my analytical skills throughout conducting my research. When drafting a point system I need to often go back to revise the weight of the factors that I found appropriate for that position. I had to make a decision on what was the best and beneficial format to follow to not only benefit E-sonic but also to allow a fair opportunity for the candidate filling the position. As with any package there is always going to be constant revision to fine tune the compensation package to be accurate and fair to both parties.
The purpose of this paper was not only to design a package to be presented to E-sonic management to solve the issues of creating new and competitive compensation packages for positions needed in the expansion of E-sonic. It took multiple outlines to ensure that we met all the criteria needed. A large amount of research conducted from multiple sources and also a critical thinking to piece it together to come up with the competitive compensation packages that aligns with the executive summary of E-sonic and helps them succeed in the future.
Final Project Final Milestone 29
References
Elmer-Dewitt, P. (2013, 07 21). Time Inc. Retrieved 03 26, 2015, from Fortune Website: http://fortune.com/2013/07/21/how-much-revenue-did-itunes-generate-for-apple-last-quarter/
Glassdoor. (2015). Glassdoor, Inc. Retrieved 04 17, 2015, from http://www.glassdoor.com/Salaries/marketing-director-salary-SRCH_KO0,18.htm
Job Descriptions. (2003, 01). Information Management Journal, 37(1), 406-407.
Kusek , D. , & Leonhard, G. (2015). Berklee School of Music. Retrieved 03 24, 2015, from http://online.berklee.edu/store/product?product_id=2583359&usca_p=t
North American Industry Classification System (NAICS). (2013, 05 13). U.S. Census Bureau | North American Industry Classification System (NAICS). Retrieved 03 26, 2015, from U.S. Department of Commerce: http://www.census.gov/cgi-bin/sssd/naics/naicsrch?code=512210&search=2012%20NAICS%20Search
Pfanner, E. (2013, 02 26). The New York Company. Retrieved 03 26, 2015, from New York Times: http://www.nytimes.com/2013/02/27/technology/music-industry-records-first-revenue-increase-since-1999.html?_r=0
Security, N. H. (2015, 04 14). New Hampshire Employment Security (NHES). Retrieved from http://www.nhes.nh.gov/elmi/statistics/documents/nr-current.pdf
United States Department of Labor. (2015, 03 11). Bureau of Labor Statistic. Retrieved from http://www.bls.gov/news.release/ecec.nr0.htm
Final Project Final Milestone 30
Sunday, March 13, 2016
e-sonic Develop Internally Consistent Job Structures example
2
Executive Summary
The following is the Strategic Analysis of Sonic Records so that it may move forward with its venture into the online retail world of music downloads. Sonic Records is moving forward with their new venture in digital downloads, streaming, and online sales via the online store E-Sonic. As such they have hired a consultant firm to assist them in analyzing their needs to be an industry leader in the new online market so that they may be able to find where their needs lie in finding the best possible way in which to have this business be just as much of a success as the current business.
By examining the external market for challenges they may face and the current industry standing of the company, the competition, foreign demand, long-term industry prospects, labor market, Internal Functions, Functional Capabilities, and the Capabilities of the Human Resources Department they have the tools and resources information to make this an industry leading downloading and streaming system that other companies will model. While this new way of listening to music is evolving and changing constantly they must provide customers with an easy to use and appealing way to use the system while providing the customer service they have become known for in their brick and mortar stores. Many online stores currently exist but with over half of all sales for music being processed and conducted solely online there is no limit to what the business may achieve by having the talent to support them – and possibly branch out into other areas of online streaming services.
Examination of the management system in place shows no experience or knowledge with online, streaming, or downloading systems. Thus Human Resources must find the talent necessary to assist in the new venture. By conducting an internal analysis of the current company structure and talent pool they can better find what is needed and what may be in place already. By extending
3
their services online thru marketing and the software development they can better serve consumers and find a bigger and broader client base. These jobs are critical to the new company as they will set the pace and the first ‘foot steps’ to success of the company. With the growing market for this type of product, compensation should be competitive and recognize the contributions of the individuals.
Strategic Analysis
E-Sonic, a subsidy of Sonic Records, falls into 2 different NAICS codes as it provides the download music that customers want. The NAICS, North American Industrial Classification System, at www.census.gov , lists them in code 33614 and 512220 according to the 2012 Statistics. Code 334614, Software and Other Prerecorded Compact Disc, Tape, and Recording Producing states:
“This U.S. industry comprises establishments primarily engaged in mass reproducing computer software or other prerecorded audio and video material on magnetic or optical media, such as CD-ROMs, DVDs, tapes, or cartridges. These establishments do not generally develop any software or produce any audio or video content. This industry includes establishments that mass reproduce game cartridges.” (NAICS, n.d.)
Code 512220 Integrated Record Production/Distribution states:
This industry comprises establishments primarily engaged in releasing, promoting, and distributing sound recordings. These establishments manufacture or arrange for the manufacture of recordings, such as audio tapes/cassettes and compact discs, and promote and distribute these products to wholesalers, retailers, or directly to the public. Establishments in this industry produce master recordings themselves, or obtain
4
reproduction and distribution rights to master recordings produced by record production companies or other integrated record companies. (NAICS, n.d.)
External Market Environment
Industry Profile, Competition, Foreign Demand, Long-Term Industry Prospects, and Labor Market Assessment are all components of the External Market Environment that must be examined in order to gain a full understanding of e-Sonic. With the move from CD’s and tapes to the digital download E-Sonic has seen a decrease in its sales. In order to stay evolve and stay relevant the business needs to reexamine its business model for the changing times. Recruiting talent for this expansion of the company is needed as the internal management has no experience. The need to develop a competitive, inviting atmosphere with compensation packages that will help attract and retain the proper talent is the focus.
Industry Profile
E-Sonic is viewed an industry leader having had sales revenues over $15 billion. However, with the excess of 30 percent decline in sales due to pirating and customer demand access change, E-Sonic must evolve, even with government regulation, it has been difficult. CD burning is just not popular anymore as businesses move online with online music stores for a customer’s instant needs. Customers are now, through these online stores, able to download and listen instantly instead of waiting for a physical store, a brick and mortar store, to open.
Competition
With one of the highest Company profiles in the industry, competition is high and growing. More and more people are downloading music and moving into the era where CD’s are no longer wanted. There are several businesses - Spotify, Google Music, Rhapsody, ITunes, Amazon – that have already started to move into the direction of international downloads and have done so
5
successfully – as shown in their increased revenues.. These sites offer their customers music from all over the world. Their digital business model needs to be a balance of competitive advances and strategic use of software that limits online piracy. The forum must be user friendly and engaging so that customers can tell them apart from the competition. Wishing to create a leading online store and “ensuring Sonic Records’ prominence in the record industry’s future” (Martocchio, 2015) is the goal.
Foreign Demand
Digital downloads are growing and the foreign market for these is doubling. With several articles showing that digital downloads are growing at four times the rate of hard copy purchase (actually going to a brick and mortar store and buying the album). (IFPI, 2012)“The Norwegian music market rose 7% in 2012 due to streaming. This is the first year with an increase since 2004.” (IFPI, 2012) The opportunities for sales and revenues in this area are vast even though there are several different online stores at which to go to. There is some risk of uncertainty as in certain markets piracy is high – Russia, China, etc. (Burrows, 2009)
Sonic Records is going to have to stay ahead of the market in protecting the customer, the artist, and the privacy of all consumers to keep their industry standing. Many recent incidents of leaks in online retailers – Best Buy, Home Depot, and Bank of America – have cost consumers and businesses millions. With over half of all music sales being digital downloads the need to move the business of Sonic Records to an online store is necessary. Add these sales to the lowering of the costs of music production and you have a great amount of profits and sales to be ‘raked in’. Thus insuring that shareholders, company employees, artists, and customers get the best of both worlds – low costs and high revenues.
Long-Term Industry Prospects
6
46% of the music industries revenues for 2014 came from digital sales – including downloads. (Facts and Stats - IFPI - Representing the recording industry worldwide, n.d.) This tied what the physical sales were for the same year. The US alone had $6.9 Billion in digital sales (a 6.9% increase over 2013) Demand is growing in this area and e-sonic needs to be a part of it. Most markets have doubled each year with the amount of digital sales as more and more markets come online to the digital download revolution.
Labor-Market Assessment
Completing a Labor Market Assessment is vital for any business but more importantly and as in the case of E-Sonic, when they choose to branch out into a new area. Knowing where your current labor divide is and where it needs to be can help you in moving toward the new labor market goal. At current E-Sonic’s current labor is divided between the following: Customer Service Representatives, Software Developers and Engineers and Marker Research Analysts. Current information, as provided by Sonic Records, indicates that Customer Service Representatives (CSR) handle customer orders, complaints, and questions about products and services offered by Sonic Records. The current salary for CSR is $14.70 with a projected job growth of 13% between 2012 and 2022 (which is about average growth). (Occupational Outlook Handbook, 2012) The outlook for this job is good and having computer skills is necessary as more and more of this position is handled online via the computer.
E-Sonic should consider an above average pay for this position and be aggressive in their recruitment of persons for these jobs, as many times these persons are the only contact that the customer has with the company. They need to understand that the company as a whole exists to serve the customer and that providing the superior customer that E-Sonic is to be known for they must have those skills. One bad or good experience with the customer service of a business can
7
hurt a business or help a business succeed. E-Sonic needs to set itself apart – and above – its competition so that customers will want to come back and often times when they do they bring friends and family with them.
E-Sonic has Engineers and Developers that design computer programs, they can also be used to help with the software issues that may arise. According to the Bureau of Labor Statistics for 2012 data, Software Developers/Engineers earned $44.88 per hour and has a job outlook of 22% (much faster than average) from 2012 thru 2022. (Occupational Outlook Handbook, 2012) These persons are highly skilled and often hold bachelor degrees or above, each with an emphasis on a specific area or they can generalize. They have creative minds that can allow for the different ways and uses that the online store can be seen and accessed. They can help in protecting the customers, artists, and the company from different threats – piracy, hacking, etc.
Market Research Analysts see the trends and study the possibilities of the current and upcoming markets of the consumers’ potential sales. They earned $28.99 per hour, most have a bachelor’s degree or higher, and has a 32% job outlook (much faster than average) thru 2022, according to the Bureau of Labor Statistics. (Occupational Outlook Handbook, 2012) They are key to helping a company decide a direction to go as they have a better idea as to what a customer is looking for and possibly wants.
Analysis of Internal Capabilities
The company must have the persons internally to do all the new functions of E-Sonic and at the same time the functions of the current company, Sonic Records, and the talent they currently have. This way they can see where the company stands and help the Human Resource department understand where they need assistance and where to look for possible candidates. After all, you wouldn’t put a job ad out for a Customer Service Representative when you need Software
8
Developer Technical Support staff. Developing this program, the analysis of the internal abilities and capabilities of the current staff, is the job of the Human Resource department.
Functional Capabilities
Knowing the functional capabilities of E-Sonic will prove to be the move toward success of the company. Thru the analyzing of the developers, management information systems, human resources, marketing, and engineering departments and to move those in the direction the business wishes to go. Moving all of these departments toward the company’s objective – to offer downloads, access, and the ability to buy music and other items via an online store. The competition in the online store venue will be and is intense, having a compensation that views the skills and abilities of the persons you wish to employ – the best in their line of expertise – is needed. Developing a talent pool and retaining those persons should be part of the compensation strategy for the company.
Human Resource Capabilities
The labor force of E-Sonic should reflect the successful analysis of strengths and weakness by the Human Resources department to recruit and retain talent so that Sonic Records and E-Sonic can continue to be an industry leader in music distribution. Working with those that are in company to figure out what is needed and to learn a little of the systems they work in is what will set E-sonic apart. Having this knowledge will assist in retention of key employees. Developing a review and compensation program that will advance the company in the direction of the wishes of the company is the charge of the Human Resources Department.
9
Job Descriptions
Office Manager
Job Summary:
The Office Manager is responsible for the day-to-day running of the office by coordinating the smooth operation and effectiveness of the E-Sonic Office.
Job Duties:
- Monitors the use, up keep, and operation of the office equipment
- Answers phone calls, directs calls, and takes messages
- Maintains the filling, inventory, mailing, and database systems
- Responsible for maintaining the office budget
- Prepares schedules, assigns duties, and oversees the administration of yearly reviews
Work Specifications:
- High School Diploma is required
- Experience in managing an office environment
Creative Director
Job Summary:
The creative director contributes to the creative process by encouraging others and protects the copy writers of all works.
Job Duties:
- Provides creative support, with feedback, to copy writers in regards to advertising – campaign or copy.
- Manages all copy writers
- Helps, supports, and encourages copy writers with presentations and ideas submitted to management
- Prepares schedules, assigns duties, and oversees the administration of yearly reviews
Work Specifications:
- High School Diploma is required
- Degree in Marketing, Advertising, or Creative Discipline is required.
- Four years of experience in technology or music production environment
Director of Customer Service
Job Summary:
10
The Director of Customer Service is responsible for supervising and coordinating all employees engaged in customer service activities and, occasionally, handling extremely difficult customers.
Job Duties:
- Supervises all employees in customer service roles
- Provide employees with ways to resolve customer complaints
- Prepares schedules, assigns duties, and oversees the administration of yearly reviews
- Establishes and implements policies, goals, objectives, training programs, and procedures with the assistance of the board of directors, organizational officials, support staff, and Human Resources
- Plans sales promotions while coordinating the activities and direction with other departments
Work Specifications:
- High School diploma is required
- Degree in Business related discipline or nine years’ experience in customer service industry
- Minimum five years’ experience in customer service industry
- Minimum four years’ experience in Store Manager or higher position with advanced training in conflict resolution
- Excellent customer services skills are required
Artist Relationship Manager
Job Summary:
The artistic relationship manager is responsible for the creation of new relationships with artist and production companies, maintaining relationships with current artists and production companies. This position is also responsible for the favorable negotiating of royalties for artists and production companies.
Job Duties:
- Establish and maintain effective working relationships with artists and production companies. Fosters these relationships while using them to develop and build new ones
- Write interesting and effective press releases about artists on E-Sonic
- Develop and maintain the company image and identity with artists and production companies
- Assist external agencies with the development and implementation of communication strategies and information programs.
- Review and evaluate advertisements and promotions for compatibility with artists and production companies.
Work Specifications:
- High School Diploma is required
11
- Minimum four year degree in business
- Minimum five years’ experience in development of business in a technology or music based environment.
12
Job Structures
Administrative
Sales and Marketing
Development
Customer Service
Executive Assistant
Marketing Director
Director of Software Development
Director of Customer Service
Administrative Assistant
Creative Director
Software Project Manager
Customer Service Manager
Office Manager
Copy Writer
Software Engineer
Customer Service Agent
Market Research Analyst
Software Testing
Artist Relationship Manager
Point Evaluation and Point Calculation
Administrative
Compensable Factors
Weight
Total Possible Points
Total Points for each factor
1
2
3
4
5
Administrative and Management Knowledge
30%
1250
425
125
200
275
350
425
Computer software application knowledge and skill
15%
1250
175
50
75
110
150
175
Writing and attention to detail knowledge and skills
15%
1250
175
50
75
110
150
175
Oral and Written Skills
25%
1250
300
100
150
200
250
300
Time Management Skills
15%
1250
175
50
75
110
150
175
Totals
375
575
805
1050
1250
13
Sales and Marketing
Compensable Factors
Weight
Total Possible Points
Total Points for each factor
1
2
3
4
5
Marketing and Sales knowledge
30%
1250
425
125
200
275
350
425
Societal Perspectives knowledge
15%
1250
175
50
75
110
150
175
Critical Thinking Skills
15%
1250
175
50
75
110
150
175
Communication and Media Relations Skills
25%
1250
300
100
150
200
250
300
Oral and Written expression abilities
15%
1250
175
50
75
110
150
175
Totals
375
575
805
1050
1250
Development
Compensable Factors
Weight
Total Possible Points
Total Points for each factor
1
2
3
4
5
Engineering/Technology Knowledge
30%
1250
425
125
200
275
350
425
Decision making skills and Judgement
15%
1250
175
50
75
110
150
175
Design Knowledge
15%
1250
175
50
75
110
150
175
Critical Thinking Skills
25%
1250
300
100
150
200
250
300
Oral and Written expression abilities
15%
1250
175
50
75
110
150
175
Totals
375
575
805
1050
1250
14
Customer Service
Compensable Factors
Weight
Total Possible Points
Total Points for each factor
1
2
3
4
5
Customer Service and Personal Knowledge
30%
1250
425
125
200
275
350
425
Computer Skills
15%
1250
175
50
75
110
150
175
Critical Thinking Skills
15%
1250
175
50
75
110
150
175
Problem Solving and Sensitivity
25%
1250
300
100
150
200
250
300
Oral and Written expression abilities
15%
1250
175
50
75
110
150
175
Totals
375
575
805
1050
1250
15
Jobs Industries Unionization Sizes Cost of living adjustment
Administrative Assistant Retail Nonunionized only Medium 3%
Executive Assistant Large
Office Manager Market Pay Line
y = -8399.28x + 10539875.27
r2 = .89
CompAnalysis Results
Job Structure:Administrative
0
2000000
4000000
6000000
8000000
10000000
12000000
0 200 400 600 800 1000 1200 1400
Salary
Job Evaluation Points
Market Pay Graph
Annual Salary
Predicted
Annual Salary
16
Jobs Industries Unionization Sizes Cost of living adjustment
Administrative Assistant Retail Nonunionized only Medium 3%
Executive Assistant Large
Office Manager
CompAnalysis Results
Job Structure:Administrative
0
10000
20000
30000
40000
50000
60000
70000
1247.5 1248 1248.5 1249 1249.5 1250 1250.5
Salary
Job Evaluation Points
Pay Policy Lines
At Market Pay (Average) Market Lead (Highest Quartile) Market Lag (Lowest Quartile)
17
Ranges Industries Unionization Sizes Cost of living adjustment
Retail Nonunionized only Medium 3%
Range 1 ( 1 - 1150): Spread = 10 Large
Range 2 ( 1151 - 1250): Spread = 10
Administrative Assistant (1249)
Executive Assistant (1250)
Office Manager (1248)
CompAnalysis Results
Job Structure:Administrative
0
10000
20000
30000
40000
50000
60000
Grade/Range 1 Grade/Range 2
Annual Salary
Pay Grades and Ranges
`
18
Job
Minimum
1st Quartile
Average
Median
3rd Quartile
Maximum
Office Manager
52,775.40
55,562.03
57,562.26
57,472.93
59,476.60
62,590.27
Administrative Assistant
44,500.35
47,118.88
49,194.98
49,218.77
51,199.30
54,169.50
Executive Assistant
36,167.45
38,482.60
40,763.70
40,718.66
42,882.08
45,701.97
IndustriesUnionizationSizesCost of living adjustmentRange2RetailNonunionized onlyMedium3%Minimum Pay46,875.02 LargeMidpoint49,218.77 Maximum Pay51,562.52 Median49,218.77 CompAnalysis ResultsJob Structure:Administrative
19
Jobs Industries Unionization Sizes Cost of living adjustment
Copy Writer Retail Nonunionized only Medium 3%
Creative Director Large
Marketing Director Market Pay Line
Market Research Analyst y = -11074.26x + 13889787.16
Artist Relationship Manager
r2 = .48
CompAnalysis Results
Job Structure:Sales and Marketing
0
2000000
4000000
6000000
8000000
10000000
12000000
14000000
16000000
0 200 400 600 800 1000 1200 1400
Salary
Job Evaluation Points
Market Pay Graph
Annual Salary
Predicted
Annual Salary
20
Jobs Industries Unionization Sizes Cost of living adjustment
Copy Writer Retail Nonunionized only Medium 3%
Creative Director Large
Marketing Director
Market Research Analyst
Artist Relationship Manager
CompAnalysis Results
Job Structure:Sales and Marketing
0
20000
40000
60000
80000
100000
120000
140000
1245.5 1246 1246.5 1247 1247.5 1248 1248.5 1249 1249.5 1250 1250.5
Salary
Job Evaluation Points
Pay Policy Lines
At Market Pay (Average) Market Lead (Highest Quartile) Market Lag (Lowest Quartile)
21
Ranges Industries Unionization Sizes Cost of living adjustment
Retail Nonunionized only Medium 3%
Range 1 ( 1 - 1050): Spread = 10 Large
Range 2 ( 1051 - 1150): Spread = 10
Range 3 ( 1151 - 1250): Spread = 10
Copy Writer (1248)
Creative Director (1249)
Marketing Director (1250)
Market Research Analyst (1247)
Artist Relationship Manager (1246)
CompAnalysis Results
Job Structure:Sales and Marketing
0
10000
20000
30000
40000
50000
60000
70000
Grade/Range 1 Grade/Range 2 Grade/Range 3
Annual Salary
Pay Grades and Ranges
`
22
Industries Unionization Sizes
Cost of
living
adjustment Range 3
Retail Nonunionized only Medium 3% Minimum Pay 57,510.15
Large Midpoint 60,385.66
Maximum Pay 63,261.17
Median 60,385.66
CompAnalysis Results
Job Structure:Sales and Marketing
Job Minimum 1st Quartile Average Median 3rd Quartile Maximum
Artist Relationship Manager 87,880.83 98,490.68 106,815.28 105,478.58 116,756.95 127,133.20
Market Research Analyst 46,495.25 49,344.79 52,153.93 52,094.41 54,818.32 58,420.28
Copy Writer 67,593.01 72,942.55 78,734.13 78,669.21 84,676.19 90,277.19
Creative Director 52,770.24 57,073.32 60,606.09 60,385.66 63,965.21 69,016.93
Marketing Director 41,503.36 44,534.44 47,217.88 47,164.88 49,776.60 53,020.44
23
Jobs Industries Unionization Sizes Cost of living adjustment
Software Testing Specialist Retail Nonunionized only Medium 3%
Software Engineer Large
Software Project Manager Market Pay Line
Director of Software Development y = -29364.05x + 36749324.79
r2 = .92
CompAnalysis Results
Job Structure:Development
0
5000000
10000000
15000000
20000000
25000000
30000000
35000000
40000000
0 200 400 600 800 1000 1200 1400
Salary
Job Evaluation Points
Market Pay Graph
Annual Salary
Predicted
Annual Salary
24
Jobs Industries Unionization Sizes Cost of living adjustment
Software Testing Specialist Retail Nonunionized only Medium 3%
Software Engineer Large
Software Project Manager
Director of Software Development
CompAnalysis Results
Job Structure:Development
0
20000
40000
60000
80000
100000
120000
140000
160000
180000
1246.5 1247 1247.5 1248 1248.5 1249 1249.5 1250 1250.5
Salary
Job Evaluation Points
Pay Policy Lines
At Market Pay (Average) Market Lead (Highest Quartile) Market Lag (Lowest Quartile)
25
Ranges Industries Unionization Sizes Cost of living adjustment
Retail Nonunionized only Medium 3%
Range 1 ( 1 - 1050): Spread = 10 Large
Range 2 ( 1051 - 1150): Spread = 10
Range 3 ( 1151 - 1250): Spread = 10
Software Testing Specialist (1247)
Software Engineer (1248)
Software Project Manager (1249)
Director of Software Development (1250)
CompAnalysis Results
Job Structure:Development
0
10000
20000
30000
40000
50000
60000
70000
80000
90000
100000
Grade/Range 1 Grade/Range 2 Grade/Range 3
Annual Salary
Pay Grades and Ranges
`
26
Industries Unionization Sizes
Cost of
living
adjustment Range 3
Retail Nonunionized only Medium 3% Minimum Pay 79,059.29
Large Midpoint 83,012.25
Maximum Pay 86,965.22
Median 83,012.25
CompAnalysis Results
Job Structure:Development
Job Minimum 1st Quartile Average Median 3rd Quartile Maximum
Software Testing Specialist 113,656.43 126,215.34 135,703.71 134,848.17 145,091.81 159,134.68
Software Engineer 82,746.38 92,385.51 99,717.73 99,899.16 107,014.40 116,896.90
Software Project Manager 56,854.04 63,341.33 70,100.19 70,139.95 76,331.62 84,750.86
Director of Software Development 36,445.35 42,405.76 47,696.04 48,401.82 52,978.67 58,435.16
27
Jobs Industries Unionization Sizes Cost of living adjustment
Customer Service Agent Retail Nonunionized only Medium 3%
Director of Customer Service Large
Market Pay Line
y = -10540.45x + 13217233.04
r2 = .74
CompAnalysis Results
Job Structure:Customer Service
0
2000000
4000000
6000000
8000000
10000000
12000000
14000000
0 200 400 600 800 1000 1200 1400
Salary
Job Evaluation Points
Market Pay Graph
Annual Salary
Predicted
Annual Salary
28
Jobs Industries Unionization Sizes Cost of living adjustment
Customer Service Agent Retail Nonunionized only Medium 3%
Director of Customer Service Large
CompAnalysis Results
Job Structure:Customer Service
0
10000
20000
30000
40000
50000
60000
70000
1248.8 1249 1249.2 1249.4 1249.6 1249.8 1250 1250.2
Salary
Job Evaluation Points
Pay Policy Lines
At Market Pay (Average) Market Lead (Highest Quartile) Market Lag (Lowest Quartile)
29
Ranges Industries Unionization Sizes Cost of living adjustment
Retail Nonunionized only Medium 3%
Range 1 ( 1 - 1050): Spread = 10 Large
Range 2 ( 1051 - 1150): Spread = 10
Range 3 ( 1151 - 1250): Spread = 10
Customer Service Agent (1249)
Director of Customer Service (1250)
CompAnalysis Results
Job Structure:Customer Service
0
10000
20000
30000
40000
50000
60000
Grade/Range 1 Grade/Range 2 Grade/Range 3
Annual Salary
Pay Grades and Ranges
`
30
Industries Unionization Sizes
Cost of
living
adjustment Range 3
Retail Nonunionized only Medium 3% Minimum Pay 44,616.77
Large Midpoint 46,847.61
Maximum Pay 49,078.45
Median 46,847.61
CompAnalysis Results
Job Structure:Customer Service
Job Minimum 1st Quartile Average Median 3rd Quartile Maximum
Customer Service Agent 46,550.00 49,622.43 52,212.26 52,199.31 54,555.25 58,422.41
Director of Customer Service 36,291.42 38,971.31 41,671.82 41,740.25 44,129.15 47,789.62
31
References
Burrows, P. (2009, March 1). Demand for Online Music Services Is In The Rise, but So is Uncertainty About Their Business. Retrieved from businessweek.com: http://www.businessweek.com/the_thread/techbeat/archives/2009/03/kodaks_on-line.html
Entertainment Markets Electrosonic. (n.d.). Retrieved from esonic.com: http://www.esonic.com/entertainment
Facts and Stats - IFPI - Representing the recording industry worldwide. (n.d.). Retrieved from ifpi.org: http://www.ifpi.org/facts-and-stats.php
IFPI. (2012, November). IFPI Digital Music Report 2013: Engine of a digital World. Retrieved from ifpi.org: http://www.ifpi.org/content/library/DMR2013.pdf
Martocchio, J. J. (2015). Strategic Compensation: A Human Resource Management Approach, 8th Edition. Upper Saddle River, New Jersey: Pearson Education, Inc.
NAICS. (n.d.). Retrieved from NAICS Search: http://www.census.gov/cgi-bin/sssd/naics/naicsrch
NAICS. (n.d.). Retrieved from NAICS Search: http://www.census.gov/cgi-bin/sssd/naics/naicsrch
O*Net Online. (2015). Retrieved from Occupational Job Handbook Guide: http://www.onetonline.org/
Occupational Outlook Handbook. (2012, May). Retrieved from Bureau of Labor Statistics: http://www.bls.gov/ooh/Office-and-Administrative-Support/Customer-service-representatives.htm
Zoominfo - ESonic Productions L.L.C. (n.d.). Retrieved from Zoominfo.com: http://www.zoominfo.com/s/#!search/profile/company?companyId=351477258&targetid=profile
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