Pay Strategies Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall.

Carter Cleaning Company – The New Pay Plan
11-16: Is the company at the point where it should be setting up a formal salary structure based on a complete job evaluation? Why? If you agree then how should the company should set up a formal salary structure? Shoud it be complete with job evaluations? You should reference points in the chapter to justify your responses. 11-17: Is Jack Carter’s policy of paying 10% more than the prevailing rates a sound one, and how could that be determined? You should use your judgment based on information presented in the chapter in giving your responses. 11-18: Similarly, is Carter’s male–female differential wise? If not, why not? The salesperson’s male-female differential is not wise. You should reference the Equal Pay Act of 1963 when providing your rationale. 11-19: Specifically, what would you suggest Jennifer do now with respect to her company’s pay plan? There are many things that you could reasonably suggest – among them: eliminate the gender pay differential, establish performance or competency-based pay, and establish a formal pay structure. Discuss these inside your groups Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Learning Objectives List the basic factors determining pay rates.
Define and give an example of how to conduct a job evaluation. Explain in detail how to establish a market-competitive pay plan. After completing this chapter, you will be able to: List the basic factors determining pay rates. Define and give an example of how to conduct a job evaluation. Explain in detail how to establish a market-competitive pay plan. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Learning Objectives Explain how to price managerial and professional jobs. Explain the difference between competency-based and traditional pay plans. List and explain six important trends in compensation management. In addition, after completing this chapter, you will be able to: Explain how to price managerial and professional jobs. Explain the difference between competency-based and traditional pay plans. List and explain six important trends in compensation management. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

List the basic factors determining pay rates.
Employee compensation refers to all forms of pay or rewards going to employees, which include direct financial payments and indirect payments. Direct financial payments include wages, salaries, incentives, commissions, and bonuses. Indirect payments include financial benefits like employer-paid insurance and vacations. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Basic Factors in Determining Pay Rates
Employee Compensation Direct Indirect Basic Factors in Determining Pay Rates Employee compensation includes all forms of pay going to employees and arising from their employment. It has two main components, direct financial payments - (wages, salaries, incentives, commissions, and bonuses) and indirect financial payments - (financial benefits like employer-paid insurance and vacations)

Aligning Total Rewards with Strategy
Aligned Reward Strategy - is creating a compensation package that produces the employee behaviors the firm needs to achieve its competitive strategy. Aligning Total Rewards with Strategy The compensation plan should first advance the firm’s strategic aims—management should produce an aligned reward strategy. This means creating a compensation package that produces the employee behaviors the firm needs to achieve its competitive strategy. Put another way, the rewards should provide a clear pathway between each reward and specific business goals.

Equity and its Impact on Pay Rates (1 of 2)
Equity Theory of Motivation - is once a person perceives an inequity a tension or drive will develop that motivates him or her to reduce the tension and perceived inequity. Equity and Its Impact on Pay Rates the equity theory of motivation - postulates that people are motivated to maintain a balance between what they perceive as their contributions and their rewards. Equity theory states that if a person perceives an inequity a tension or drive will develop that motivates him or her to reduce the tension and perceived inequity.

Equity and its Impact on Pay Rates (2 of 2)
Type of Equity External Internal Individual Procedural Equity and Its Impact on Pay Rates In compensation, one can address external, internal, individual, and procedural equity. ● External equity - refers to how a job’s pay rate in one company compares to the job’s pay rate in other companies. ● Internal equity - refers to how fair the job’s pay rate is when compared to other jobs within the same company (for instance, is the sales manager’s pay fair, when compared to what the production manager earns?). ● Individual equity - refers to the fairness of an individual’s pay as compared with what his or her coworkers are earning for the same or very similar jobs within the company, based on each person’s performance. ● Procedural equity refers to the “perceived fairness of the processes and procedures used to make decisions regarding the allocation of pay.

Basic Factors in Determining Pay Rates
Aligning total rewards with strategy Equity and its impact on pay rates Equity theory of motivation Addressing equity issues The basic thrust in pay plans today is to produce an aligned reward strategy to create compensation plans that guide employee behaviors in the desired, strategic direction. Distinguishing between high and low performers is a policy issue, as is seniority-based pay. External and internal equity are crucial in pay rates. There are four components of equity to consider. External equity refers to how pay compares with rates in other organizations. Internal equity refers to employees viewing their pay as equitable given other pay rates in the organization. Individual equity refers to the fairness of an individual’s pay as compared to what his/her coworkers are earning for the same or very similar jobs in the company. Finally, procedural equity refers to the perceived fairness of the processes and procedures used to make decisions regarding the allocation of pay. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Legal Considerations in Compensation
There are many laws that govern compensation in different countries . For example in the USA the Fair Labor Standards Act (FLSA) regulates the minimum wage and requires that overtime be paid. Other compensation laws in the EU/USA include Equal Pay Acts There are many laws that govern compensation. For example, the Fair Labor Standards Act (FLSA) regulates the minimum wage and requires that overtime be paid. Employees are categorized as exempt or non-exempt from the provisions of the act. Other compensation laws include the Equal Pay Act, the Employee Retirement Income Security Act (ERISA), the Age Discrimination in Employment Act (ADEA), the Americans with Disabilities Act (ADA), and the Family Medical Leave Act (FMLA.) Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Other Factors Union influences on compensation decisions Pay policies
Geography Unions and labor relations laws influence pay plan design. The rulings of the National Labor Relations Act underscored the need for employers to involve union officials in developing the compensation package. To raise salaries, employers can give raises based on a variety of factors. Some factors include longevity and skills. Employers can install a more aggressive merit pay program. Also, they can authorize supervisors to recommend equity adjustments for selected employees who are highly valued or victims of pay compression. Pay compression occurs when valued employees are at the top of their salary grade and deserve a performance increase yet company policies do not permit exceeding the maximum of the pay grade. Accounting for geographic differences in cost of living is another big pay policy issue. One way to deal with it is to pay a differential for ongoing costs in addition to a one-time allocation. Other firms simply raise the employee’s base salary. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Influencing salaries Labour unions can influence salaries via negotiation. To raise salaries, employers can give raises based on a variety of factors. Some factors include longevity and skills. Employers can install a more aggressive merit pay program. Also, they can authorize supervisors to recommend equity adjustments for selected employees who are highly valued or victims of pay compression.. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Pay compression Pay compression occurs when valued employees are at the top of their salary grade and deserve a performance increase yet company policies do not permit exceeding the maximum of the pay grade. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Pay Polices Seniority-based Performance Other pay policies Geography
The employer’s compensation strategy will manifest itself in pay policies. Managers need pay policies on a range of issues. One is whether to emphasize seniority or performance. Seniority-based pay -may be advantageous to the extent that seniority is an objective standard. How to distinguish between high and low performers is another policy issue. Its best to establish compensation policies, that differentiate more aggressively between top performers and others. Other pay policies that cover how to award salary increases and promotions, overtime pay, probationary pay, leaves for military service, jury duty, and holidays. Geography How to account for geographic differences in cost of living is another big pay policy issue. Employers handle cost-of-living differentials for transferees in several ways. One is to pay a differential for ongoing costs in addition to a one-time allocation. Others simply raise the employee’s base salary.

Improving Performance: HR Practices Around The Globe (1 of 2)
Compensating Expatriate Employees Let’s talk about it… Improving Performance: HR Practices Around the Globe Compensating Expatriate Employees The question of cost-of-living differentials has particular significance to multinational firms, where pay rates range widely from, say, France to Zambia. How should multinationals compensate expatriate employees—those it sends overseas? Two basic international compensation policies are popular: home-based and host-based plans. With a home-based salary plan, an international transferee’s base salary reflects his or her home country’s salary. The employer then adds allowances for cost-of-living differences—housing and schooling costs, for instance. This is a reasonable approach for short-term assignments, and avoids the problem of having to change the employee’s base salary every time he or she moves. In the host-based plan, the firm ties the international transferee’s base salary to the host country’s salary structure. In other words, the manager from New York who is sent to France would have his or her base salary changed to the prevailing base salary for that position in France, rather than keep the New York base salary. The firm usually tacks on cost-of-living, housing, schooling, and other allowances here as well. Most multinational enterprises set expatriates’ salaries according to the home-based salary plan. (Thus, a French manager assigned to Kiev by a U.S. multinational will generally have a base salary that reflects the salary structure in the manager’s home country, in this case France.) In addition, the person typically gets allowances including cost-of-living, relocation, housing, education, and hardship allowances (for more challenging countries). The employer also usually pays any extra tax burdens resulting from taxes the manager is liable for over and above those he or she would have to pay in the home country. ■ Source: Based on Compensation Management Talk About it (Discussion) : Why do you think most employers opt for the home-based salary plan?

Compensating Expatriate Employees
Improving Performance: HR Practices Around the Globe Compensating Expatriate Employees The question of cost-of-living differentials has particular significance to multinational firms, where pay rates range widely from, say, France to Zambia. Source: Based on Compensation Management Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Compensation How should multinationals compensate expatriate employees—those it sends overseas? Two basic international compensation policies are popular: home-based and host-based plans. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Home-based salary plan
With a home-based salary plan, an international transferee’s base salary reflects his or her home country’s salary. The employer then adds allowances for cost-of-living differences—housing and schooling costs, for instance. This is a reasonable approach for short-term assignments, and avoids the problem of having to change the employee’s base salary every time he or she moves Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Host-based plan In the host-based plan, the firm ties the international transferee’s base salary to the host country 'salary structure. In other words, the manager from New York who is sent to France would have his or her base salary changed to the prevailing base salary for that position in France, rather than keep the New York base salary. The firm usually tacks on cost-of-living, housing, schooling, and other allowances here as well. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Review Alignment with strategy Equity – external, internal
Legal Considerations Union influences Pay policies Geography For this learning objective, we have discussed the need to align compensation practices with company strategy to ensure achievement of strategic goals. External equity refers to the relationship between what a company pays and what exists in the industry as a whole is a crucial factor. Internal equity is what employees perceive to be a fair relationship between their job and the same or similar jobs performed by others in their organization. Many federal, state, and local laws regulate pay practices. We discussed several including the FLSA and the classification system of exempt versus non-exempt employees, EPA, and ERISA. Employee unions and their collective bargaining agreements have had clear impact on how employees are paid. Employers generally allow some flexibility in pay policies to properly reward high-performing employees who otherwise would not be properly rewarded. Finally, we covered compensation issues related to employees being relocated to other company facilities. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Alignment There is a need to align compensation practices with company strategy to ensure achievement of strategic goals. External equity refers to the relationship between what a company pays and what exists in the industry as a whole is a crucial factor. Internal equity is what employees perceive to be a fair relationship between their job and the same or similar jobs performed by others in their organization. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Different influences In different countries there are federal, state, and local laws to regulate pay practices. Check out the context in China Employee unions and their collective bargaining agreements have had clear impact on how employees are paid. Employers generally allow some flexibility in pay policies to properly reward high-performing employees who otherwise would not be properly rewarded. Compensation issues can be related to employees being relocated to other company facilities. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Define and give an example of how to conduct
a job evaluation. Employers use two basic approaches to setting pay rates: market-based approaches and job evaluation approaches. Many firms, particularly smaller ones, simply use a market-based approach. Job evaluation is a formal and systematic comparison of jobs to determine the worth of one job relative to another. Job evaluation eventually results in a wage or salary structure or hierarchy Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Job Evaluation Methods
Market-Base Job Evaluation Job Evaluation Methods Employers use two basic approaches to setting pay rates: market-based approaches and job evaluation methods. Many firms, particularly smaller ones, simply use a market-based approach. Doing so involves conducting formal or informal salary surveys to determine what others in the relevant labor markets are paying for particular jobs. They then use these figures to price their own jobs. Job evaluation methods involve assigning values to each of the company’s jobs. This process helps produce a pay plan in which each job’s pay is equitable based on what other employers are paying for these jobs and based on each job’s value to the employer.

Compensable Factors Compensable Factors - a fundamental, compensable element of a job, such as skill, effort, responsibility, and working conditions. Compensable Factors - is a fundamental, compensable element of a job, such as skills, effort, responsibility, and working conditions. You can use two basic approaches to compare the worth of several jobs. First, you might decide that one job is more important than another is, and not dig any deeper. As an alternative, you could compare the jobs by focusing on certain basic factors the jobs have in common. Compensation management specialists call these compensable factors. Again, they are the factors that establish how the jobs compare to one another, and that determine the pay for each job.

Compensable factors Preparing for the job evaluation There are several job evaluations we will discuss shortly. However, all methods have two considerations that must be addressed: compensable factors and preparation. Compensable factors are those that jobs have in common that can be used to establish how the jobs compare to one another. While intuition may work in some situations, it is better to have an established system that can be widely understood and is defensible in court. For example, the Equal Pay Act uses four compensable factors—skills, effort, responsibility, and working conditions. Job evaluation is a judgmental process demanding close cooperation among supervisors, HR, employees, and union representatives. The main steps include identifying the need for the program, getting cooperation, then choosing an evaluation committee. The committee then performs the actual evaluation. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Job Evaluation There are several job evaluations we will discuss shortly. However, all methods have two considerations that must be addressed: compensable factors and preparation. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Compensation Compensable factors are those that jobs have in common that can be used to establish how the jobs compare to one another. While intuition may work in some situations, it is better to have an established system that can be widely understood and is defensible in court. For example in the USA the Equal Pay Act uses four compensable factors—skills, effort, responsibility, and working conditions. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Job Evaluation Job evaluation is a judgmental process demanding close cooperation among supervisors, HR, employees, and union representatives. The main steps include identifying the need for the program, getting cooperation, then choosing an evaluation committee. The committee then performs the actual evaluation. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Job Evaluation Methods: Ranking
Obtain job information Select and group jobs Select compensable factors Rank jobs Combine ratings The simplest job evaluation method ranks each job relative to all other jobs, usually based on some overall factor like “job difficulty.” There are several steps in the job ranking method: obtain job information, select and group jobs, select compensable factors, rank jobs, and combine ratings. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Simple Job Evaluation The simplest job evaluation method ranks each job relative to all other jobs, usually based on some overall factor like “job difficulty.” There are several steps in the job ranking method: obtain job information, select and group jobs, select compensable factors, rank jobs, and combine ratings. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Job classification Point method “Packaged” point plans Computerized job evaluations Job classification is a simple, widely used method in which raters categorize jobs into groups. For pay purposes, all the jobs in each group are of roughly the same value. The groups are called classes if they contain similar jobs or grades if they contain jobs that are similar in difficulty but otherwise different. The point method involves identifying several compensable factors for the jobs. The method also includes the degree to which each factor is present in each job. Let’s take an example. Assume there are five degrees of the compensable factor “responsibility” a job could contain. Further, assume you assign a different number of points to each degree of each compensable factor. Once the evaluation committee determines the degree to which each compensable factor (like “responsibility” and “effort”) is present in the job, the committee can calculate a total point value for the job. It does so by adding up the corresponding points for each factor. The result is a quantitative point rating for each job. However, using quantitative job evaluation methods such as the point method can be time-consuming. Computer-aided job evaluation streamlines the process. Most computerized systems have two main components: structured questionnaires and statistical models. These elements allow the computer program to price jobs by assigning points. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Job Evaluation Methods: Job Classification
Figure 11-4 Example of a Grade Definition Grade Nature of Assignment Level of Responsibility GS-7 Performs specialized duties in a defined functional or program area involving a wide variety of problems or situations; develops information, identifies interrelationships, and takes actions consistent with objectives of the function or program served. Work is assigned in terms of objectives, priorities, and deadlines; the employee works independently in resolving most conflicts; completed work is evaluated for conformance to policy; guidelines, such as regulations, precedent cases, and policy statements require considerable interpretation and adaptation. Source: From “Grade Level Guide for Clerical and Assistance Work” from U.S. Office of Personnel Management, June 1989.

Computerized Job Evaluations
Most such computerized systems have two main components. There is, first, a structured questionnaire. This contains items such as “enter total number of employees who report to this position.” Second, such systems may use statistical models. These allow the computer program to price jobs more or less automatically, by assigning points based on the questionnaire responses.

Computerized Job Evaluations
Most such computerized systems have two main components. There is, first, a structured questionnaire. This contains items such as “enter total number of employees who report to this position.” Second, such systems may use statistical models. These allow the computer program to price jobs more or less automatically, by assigning points based on the questionnaire responses. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Review Compensable factors Preparation Ranking Classification
Point method Computer-based With respect to this learning objective, we have discussed the need for determining compensable factors while properly preparing for the process by cooperating between departments and individuals. The ranking method uses a systematic five-step approach to evaluate jobs. Classifying jobs is a widely used process that groups jobs into certain categories. The point method is the most popular method in use today. It involves a consideration of compensable factors as well as the degree to which a particular job requires those factors be present in the job. Finally, computerized job evaluations help take the routine and the tedious out of any process used. It also provides a thorough trail of information as to how a particular job evaluation was conducted. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Review We have discussed the need for determining compensable factors while properly preparing for the process by cooperating between departments and individuals. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Evaluations The ranking method uses a systematic five-step approach to evaluate jobs. Classifying jobs is a widely used process that groups jobs into certain categories. The point method is the most popular method in use today. It involves a consideration of compensable factors as well as the degree to which a particular job requires those factors be present in the job. Finally, computerized job evaluations help take the routine and the tedious out of any process used. It also provides a thorough trail of information as to how a particular job evaluation was conducted. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Explain in detail how to establish a market-competitive pay plan.
Many firms simply price their jobs based on what other employers are paying—they use a market-based approach. Many employers also base their pay plans on job evaluations. However, even with the job evaluation approach, managers must adjust pay rates to fit the market. After all, you want employees’ pay to be equitable internally—relative to what their colleagues in the firm earning—but also competitive to what other employers are paying. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

How to Create a Market-Competitive Pay Plan
Choose benchmark jobs Select compensable factors Assign weights Convert percentages to points Define each factor’s degrees Determine degrees and assign points for job factors Choose benchmark jobs. These are representative of the entire range of jobs you need to evaluate. The choice of compensable factors generally depends on history, precedent, and law. As noted, the Equal Pay Act of 1963 uses four compensable factors − skill, effort, responsibility, and working conditions. Your choice also depends on strategic and practical considerations endemic to the organization. Carefully define each factor to ensure that the evaluation committee members apply the factors with consistency. Assigning weights to compensable factors determines the relative amount of each compensable factor the job contains. Assume there is a total of 100 percentage points for each job that needs to be allocated among those compensable factors selected. Convert percentages to points for each factor. Next, define each of several degrees for each factor so raters may judge the amount or degree of a factor that exists in a job. The number of degrees usually does not exceed five or six, and the actual number depends mostly on judgment. Determine the degrees and assign points for each job. The evaluation committee must be able to determine the number of points each job contains. To do this, the committee must be able to examine each job and determine what degree of each compensable factor that job has. The committee then needs to know how many points each degree of each compensable factor is worth. To do this, we must first assign points to each degree of each compensable factor. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Bench mark jobs Choose benchmark jobs. These are representative of the entire range of jobs you need to evaluate. The choice of compensable factors generally depends on history, precedent, and law. As noted, the Equal Pay Act of 1963 uses four compensable factors − skill, effort, responsibility, and working conditions. Your choice also depends on strategic and practical considerations endemic to the organization Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

FACTORS Carefully define each factor to ensure that the evaluation committee members apply the factors with consistency. Assigning weights to compensable factors determines the relative amount of each compensable factor the job contains. Assume there is a total of 100 percentage points for each job that needs to be allocated among those compensable factors selected. factor is worth. To do this, we must first assign points to each degree of each compensable factor. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Points Convert percentages to points for each factor.
Next, define each of several degrees for each factor so raters may judge the amount or degree of a factor that exists in a job. The number of degrees usually does not exceed five or six, and the actual number depends mostly on judgment. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Assign Points Determine the degrees and assign points for each job.
The evaluation committee must be able to determine the number of points each job contains. To do this, the committee must be able to examine each job and determine what degree of each compensable factor that job has. The committee then needs to know how many points each degree of each compensable factor is worth. To do this, we must first assign points to each degree of each compensable factor. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Review job descriptions and specifications Evaluate the jobs What is a market competitive pay plan? What are wage curves? The heart of job evaluation involves determining the amount or degree to which the job contains the selected compensable factors such as skill, effort, responsibility, and working conditions. Those conducting the job evaluation will frequently do so by reviewing each job’s job description and job specification. The committee determines the degree to which each compensable factor is present in each job. You can then determine how many points for skill, effort, responsibility, and conditions each benchmark job should contain. Finally, you can then add up these degree points to get a total point value for each benchmark job. A market-competitive pay system is a pay system that aligns the organization’s pay with the relevant labor markets. Wage curves show the relationship between the value of the job and the average wage paid for the job. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Value of the job The heart of job evaluation involves determining the amount or degree to which the job contains the selected compensable factors such as skill, effort, responsibility, and working conditions. Those conducting the job evaluation will frequently do so by reviewing each job’s job description and job specification between the value of the job and the average wage paid for the job. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Determinations The committee determines the degree to which each compensable factor is present in each job. You can then determine how many points for skill, effort, responsibility, and conditions each benchmark job should contain. Finally, you can then add up these degree points to get a total point value for each benchmark job. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Competitive Pay A market-competitive pay system is a pay system that aligns the organization’s pay with the relevant labor markets. Wage curves show the relationship between the value of the job and the average wage paid for the job. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Draw current (internal) wage curve Conduct market analysis: salary surveys Commercial, professional, and government Using internet to do compensation surveys Plotting each job’s points and wage rate produces a scatter plot resulting in a drawing of the internal wage curve. A wage curve can be drawn through these points to show how point values relate to current wage rates. Virtually all employers conduct at least an informal telephone, newspaper, or Internet salary survey to price benchmark jobs and benefits. Often, HR professionals will exchange information informally to help analyze the market for pay plans. For commercial, professional, and government jobs employers use surveys published by consulting firms, professional associations, or government agencies. The Bureau of Labor Statistics (BLS) annually conducts and publishes area and industry wage surveys. This includes professional, administrative, technical, and clerical (PATC) surveys for the National Compensation Survey. Finally, a rapidly expanding array of Internet-based options makes it fairly easy for anyone to access published compensation survey information. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Plotting Plotting each job’s points and wage rate produces a scatter plot resulting in a drawing of the internal wage curve. A wage curve can be drawn through these points to show how point values relate to current wage rates. Virtually all employers conduct at least an informal telephone, newspaper, or Internet salary survey to price benchmark jobs and benefits. Often, HR professionals will exchange information informally to help analyze the market for pay plans. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Professional Jobs For commercial, professional, and government jobs employers use surveys published by consulting firms, professional associations, or government agencies. The Bureau of Labor Statistics (BLS) annually conducts and publishes area and industry wage surveys. This includes professional, administrative, technical, and clerical (PATC) surveys for the National Compensation Survey. Finally, a rapidly expanding array of Internet-based options makes it fairly easy for anyone to access published compensation survey information. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Draw market (external) wage curve Compare and adjust Develop pay grades Establish rate ranges Address remaining jobs Correct out-of-line rates The current (internal) wage curve does not reveal whether our pay rates are too high, or too low, or just right, relative to what other firms are paying. For this, you will need to draw a market or external wage curve. The market/external wage curve compares points for your jobs with market pay rates for these jobs. Next, combine both the current/internal and market/external wage curves on one graph. Based on comparing the current/internal wage curve and market/external wage curve you must decide whether to adjust the current pay rates for your jobs, and if so how and how much. Here, your policies, history and current business strategy play a major part. The committee will probably group similar jobs into grades for pay purposes, instead of having to deal with hundreds of pay rates. A pay (or wage) grade is comprised of jobs of approximately equal difficulty or importance as determined by job evaluation. Most employers develop vertical pay (rate) ranges for each horizontal pay grade. These pay ranges may appear as vertical boxes within each grade, showing minimum, maximum, and midpoint pay rates for that pay grade. Once the job evaluation of the benchmark jobs is complete, the remaining jobs must be added. This may be done either through a formal process (like the one described for benchmark jobs) or informally where the company believes they fit. Finally, the wage rate for a job may fall well off the wage line or well outside the rate range for its grade. This means that the average pay for the job is currently too high or too low, relative to other jobs in the firm. If the point falls well below the line, you may need to raise the pay raise for a job. If the point falls well above the wage line, you may need to cut or freeze pay. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Internal wage curve The current (internal) wage curve does not reveal whether our pay rates are too high, or too low, or just right, relative to what other firms are paying. For this, you will need to draw a market or external wage curve. The market/external wage curve compares points for your jobs with market pay rates for these jobs. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

WAGE CURVES Next, combine both the current/internal and market/external wage curves on one graph. Based on comparing the current/internal wage curve and market/external wage curve you must decide whether to adjust the current pay rates for your jobs, and if so how and how much. Here, your policies, history and current business strategy play a major part. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Review In a market-competitive pay plan a job’s compensation reflects both the job’s value in the company, as well as what other employers are paying for similar jobs in the marketplace. We have discussed the steps needed to create, implement and maintain a competitive pay plan that includes strong consideration for internal and external equity. That is, not only must you be able to verify that your pay plan is competitive but also that your employees believe they are paid fairly compared to their fellow workers. The steps in the process are all important. However, let’s point out a few key elements. You want to choose benchmark jobs that most agree are key to the success of the organization. Appointing a committee to conduct the work should include knowledgeable compensation people and long-term employees and leaders who understand the company and can communicate effectively. The process involves many steps including selecting compensable factors, assigning weights, assigning point-values to jobs and determining the degree to which such factors apply to a given job. As is the case with many aspects of HR, knowing the job description and specifications is crucial for establishing a market-competitive pay plan. Drawing both the internal and external wage curves, adjusting them, creating pay grades and establishing ranges is important to any company that wants to remain competitive for talent. Finally, know that the work you do with this process will also establish credibility in the minds of current employees and help in your future recruiting efforts for exceptional talent. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Market /Competitive pay
In a market-competitive pay plan a job’s compensation reflects both the job’s value in the company, as well as what other employers are paying for similar jobs in the marketplace. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

PAY We have discussed the steps needed to create, implement and maintain a competitive pay plan that includes strong consideration for internal and external equity. That is, not only must you be able to verify that your pay plan is competitive but also that your employees believe they are paid fairly compared to their fellow workers. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Steps The steps in the process are all important. However, let’s point out a few key elements. You want to choose benchmark jobs that most agree are key to the success of the organization. Appointing a committee to conduct the work should include knowledgeable compensation people and long-term employees and leaders who understand the company and can communicate effectively. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Steps The process involves many steps including selecting compensable factors, assigning weights, assigning point-values to jobs and determining the degree to which such factors apply to a given job. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

HR ASPECTS As is the case with many aspects of HR, knowing the job description and specifications is crucial for establishing a market-competitive pay plan. Drawing both the internal and external wage curves, adjusting them, creating pay grades and establishing ranges is important to any company that wants to remain competitive for talent. Finally, know that the work you do with this process will also establish credibility in the minds of current employees and help in your future recruiting efforts for exceptional talent. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Explain how to price managerial and professional jobs.
Developing compensation plans for managers or professionals is similar in many respects to developing plans for any employee. There are some big differences, though. Managerial jobs tend to stress harder-to-quantify factors like judgment and problem solving more than do production and clerical jobs. There is also more emphasis on paying managers and professionals based on their performance or on what they can do. Let’s take a longer look at some of the characteristics of paying managers and professionals. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Developing Compensation
Developing compensation plans for managers or professionals is similar in many respects to developing plans for any employee. There are some big differences, though. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Managerial Jobs Managerial jobs tend to stress harder-to-quantify factors like judgment and problem solving more than do production and clerical jobs. There is also more emphasis on paying managers and professionals based on their performance or on what they can do. What are some of the characteristics of paying managers and professionals. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Pricing Managerial and Professional Jobs
Compensating executives and managers What determines executive pay? Elements of executive pay Managerial job evaluation Compensating professional employees Basic compensation elements for top executives include: base pay, short-term incentives, long-term incentives, and executive benefits and perks. In some instances within the last decade, CEOs have been granted personal loans and then had the loans forgiven by a very generous board of directors. Shareholder activism has tightened restrictions on what companies pay top executives. Executive compensation emphasizes performance incentives more than do other employees’ pay plans. Organizational results (such as increasing shareholder value by x%) are likely to reflect executives’ contributions more directly. Executives typically have the broadest responsibilities for company performance and are judged accordingly. For professional employees, most employers use a market-pricing approach instead of job evaluation. This occurs because it’s not easy to identify factors and degrees of factors which meaningfully differentiate among the values of professional work. In addition, professionals tend to be loyal to their profession and may take their talents to your competitors if they feel unfairly compensated. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Basic Compensation Basic compensation elements for top executives include: base pay, short-term incentives, long-term incentives, and executive benefits and perks. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

CEOs Pay In some instances within the last decade, CEOs have been granted personal loans and then had the loans forgiven by a very generous board of directors. Shareholder activism has tightened restrictions on what companies pay top executives. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Executive Compensation
Executive compensation emphasizes performance incentives more than do other employees’ pay plans. Organizational results (such as increasing shareholder value by x%) are likely to reflect executives’ contributions more directly. Executives typically have the broadest responsibilities for company performance and are judged accordingly. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Professional Employees
For professional employees, most employers use a market-pricing approach instead of job evaluation. This occurs because it’s not easy to identify factors and degrees of factors which meaningfully differentiate among the values of professional work. In addition, professionals tend to be loyal to their profession and may take their talents to your competitors if they feel unfairly compensated. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Review Executives Professionals Pay
With respect to this learning objective, we have discussed executive and professional compensation at a topical level. Programs for professionals and executives are often market-based and hard to measure. Often, the compensation offered to executives and professionals depends on their level of responsibility and how scarce their particular talents are. As noted in your text, “In reality, CEO pay is set by the board taking into account a variety of factors such as the business strategy, corporate trends, and most importantly where they want to be in a short and long term.” Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Professional compensation
Programs for professionals and executives are often market-based and hard to measure. Often, the compensation offered to executives and professionals depends on their level of responsibility and how scarce their particular talents are. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

CEO PAY As noted in Dressler , “In reality, CEO pay is set by the board taking into account a variety of factors such as the business strategy, corporate trends, and most importantly where they want to be in a short and long term Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Explain the difference between competency-based
and traditional pay plans. How employers pay employees has been evolving. In this final section, we’ll look at five important contemporary compensation topics, competency-based pay, broadbanding, talent management, comparable worth, and executive pay. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Compensation Topics How employers pay employees has been evolving. In this final section, we’ll look at five important contemporary compensation topics, competency-based pay, broad banding, talent management, comparable worth, and executive pay. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Competency pay Competency-based pay means the company pays for the employee’s range, depth, and types of skills and knowledge, rather than for the job title he or she holds. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

REASONS There are three reasons why you should consider using competency-based pay. First, in a high performance work system, you want employees to be enthusiastic about learning and moving into other jobs. Second, you can enhance your strategic plans by paying for skills that are critical to those plans. Finally, measurable skills, knowledge, and competencies are at the heart of performance management processes. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Competency pay In practice competency-based pay consists of four main components. These are a: system that defines skills and processes; training system; competency testing system; and work design that allows employees to move among jobs. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Competency Pay Some note that competency-based pay “ignores the cost implications of paying [employees] for knowledge, skills and behaviors even if they are not used.” There may also be simpler alternatives. For example, overlapping rate ranges allow workers to move from grade to grade, within limits Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Review Many organizations pay based on employee competencies that can impact the strategic goals of an organization. You want your employees to become and remain motivated and competency-based pay can help you do so. Such a compensation system can help you manage, track, provide appropriate training and design work that optimizes your existing talent pool. Using the system is a win-win proposition for everyone. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Pay based on Competencies
Many organizations pay based on employee competencies that can impact the strategic goals of an organization. You want your employees to become and remain motivated and competency-based pay can help you do so. Such a compensation system can help you manage, track, provide appropriate training and design work that optimizes your existing talent pool. Using the system is a win-win proposition for everyone. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

List and explain six important trends in compensation
management. We will now discuss several important trends in compensation management. Some of the trends have been an issue for quite some time – such as the male/female pay gap – and others are more recent. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Important trends There are several important trends in compensation management. Some of the trends have been an issue for quite some time – such as the male/female pay gap – and others are more recent. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Trends Broadbanding Actively managing Comparable worth Board oversight
The pay gap Board oversight Total rewards and tomorrow’s pay programs Broadbanding – This method involves collapsing salary grades and ranges into just a few wide levels or bands. Broadbanding injects greater flexibility into employee assignments, and it allows an employee to move up or down along the pay scale without changing pay ranges. Broadbanding can, however, eliminate a sense of permanence in a set of job responsibilities. Employers are increasingly segmenting their employees and actively assigning more resources to those they deem “mission-critical” in terms of the firm’s strategy. Comparable Worth refers to the requirement to pay equal wages for jobs of comparable value to the employer rather than strictly equal value. Although the pay gap is narrowing a bit, women still earn only about 77% as much as men. Education may reduce the wage gap and over the past decade or so, the number of women enrolled in graduate school programs is on the rise. Boards of directors are clamping down on executive pay. Since 2005, the Financial Accounting Standards Board (FASB) has required that companies recognize as an expense the fair value of the stock options they grant. The Sarbanes-Oxley Act makes executives personally liable for lapses in corporate financial oversight. Future programs will probably exhibit several features. Talent management-oriented employers will have to identify strategically crucial jobs and pay them at premium levels. To engage the new millennial employees, it’s essential that they know what’s expected of them. They also require continuing constructive feedback about their performance. Millennials need the opportunity to create retirement wealth through their employment such as having stock ownership options. Finally, nonfinancial rewards, including personal recognition, will grow in importance as supplements to financial rewards. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Broad banding Broad banding – This method involves collapsing salary grades and ranges into just a few wide levels or bands. Broad banding injects greater flexibility into employee assignments, and it allows an employee to move up or down along the pay scale without changing pay ranges. Broad banding can, however, eliminate a sense of permanence in a set of job responsibilities. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Mission–critical Employers are increasingly segmenting their employees and actively assigning more resources to those they deem “mission-critical” in terms of the firm’s strategy. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Comparable Worth Comparable Worth refers to the requirement to pay equal wages for jobs of comparable value to the employer rather than strictly equal value. Although the pay gap is narrowing a bit, women still earn only about 77% as much as men. Education may reduce the wage gap and over the past decade or so, the number of women enrolled in graduate school programs is on the rise. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Executive Pay Boards of directors are clamping down on executive pay. Since 2005, the Financial Accounting Standards Board (FASB) has required that companies recognize as an expense the fair value of the stock options they grant. The Sarbanes-Oxley Act makes executives personally liable for lapses in corporate financial oversight. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Future Programmes Future programs will probably exhibit several features. Talent management-oriented employers will have to identify strategically crucial jobs and pay them at premium levels. To engage the new millennial employees, it’s essential that they know what’s expected of them. They also require continuing constructive feedback about their performance. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Millennials Millennials need the opportunity to create retirement wealth through their employment such as having stock ownership options. Finally, nonfinancial rewards, including personal recognition, will grow in importance as supplements to financial rewards. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Review Broadbanding Management Worth Boards Tomorrow
HR systems are designed to support and help the organization achieve its strategic and short-term goals while providing a supportive environment for employees. Part of the system includes broadbanding job pay so that an employee can remain flexible in their job choices. Active management allows employers to keep their most mission critical employees to stay challenged and engaged. Comparable worth remains a critical component of effective compensation especially for women and other minorities who experience a wage gap with respect to white males. As we discussed previously, the glass ceiling is another negative factor for women in terms of engagement and commitment. Boards of directors and laws such as the Sarbanes-Oxley Act are helping keep executives responsible and accountable. Tomorrow, the Millennial generation will dominate the workforce and require knowing in detail what is expected of them and what they, in turn, may expect as a reward. Non-financial rewards will grow in importance. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

HR Support HR systems are designed to support and help the organization achieve its strategic and short-term goals while providing a supportive environment for employees. Part of the system includes broad banding job pay so that an employee can remain flexible in their job choices. Active management allows employers to keep their most mission critical employees to stay challenged and engaged. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Comparable Worth Comparable worth remains a critical component of effective compensation especially for women and other minorities who experience a wage gap with respect to white males. As we discussed previously, the glass ceiling is another negative factor for women in terms of engagement and commitment. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Trends Shaping HR: Digital and Social Media
Recognition Rewards Let’s take a look… Trends Shaping HR: Digital and Social Media Noncash recognition/appreciation rewards such as gift cards, merchandise, and recognition are important parts of such total compensation. New digital and social media tools enable employees to recognize and reward each other. For example, a West Virginia DuPont plant installed an online system that enabled employees to give each other recognition; 95% were soon using it. International Fitness Holdings lets employees use a Facebook-type application to recognize peers by posting messages and sending private s. Employers contract with sites like Globoforce.com to provide online recognition systems. ■

New trends Noncash recognition/appreciation rewards such as gift cards, merchandise, and recognition are important parts of such total compensation. New digital and social media tools enable employees to recognize and reward each other. For example, a West Virginia DuPont plant installed an online system that enabled employees to give each other recognition; 95% were soon using it. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Digital social media . New digital and social media tools enable employees to recognize and reward each other. For example, a West Virginia DuPont plant installed an online system that enabled employees to give each other recognition; 95% were soon using it. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

New trends . International Fitness Holdings lets employees use a Facebook-type application to recognize peers by posting messages and sending private s. Employers contract with sites like Globoforce.com to provide online recognition systems Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Carter Cleaning Company – The New Pay Plan
11-16: Is the company at the point where it should be setting up a formal salary structure based on a complete job evaluation? Why? If you agree then how should the company should set up a formal salary structure? Shoud it be complete with job evaluations? You should reference points in the chapter to justify your responses. 11-17: Is Jack Carter’s policy of paying 10% more than the prevailing rates a sound one, and how could that be determined? You should use your judgment based on information presented in the chapter in giving your responses. 11-18: Similarly, is Carter’s male–female differential wise? If not, why not? The salesperson’s male-female differential is not wise. You should reference the Equal Pay Act of 1963 when providing your rationale. 11-19: Specifically, what would you suggest Jennifer do now with respect to her company’s pay plan? There are many things that you could reasonably suggest – among them: eliminate the gender pay differential, establish performance or competency-based pay, and establish a formal pay structure. Discuss these inside your groups Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Managing Employee Turnover and Retention
Turnover is an expensive cost for organizations. Understanding more about the costs and causes of turnover is crucial for companies. Costs of Turnover – There are tangible and intangible costs associated with turnover. Reducing turnover requires identifying and managing the reasons for both voluntary and involuntary turnover. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Turnover Managing Voluntary Turnover – Voluntary turnover occurs for many reasons including job dissatisfaction, poor pay, a lack of promotional opportunities, work-life balance issues, and inadequate health-care benefits. Retention Strategies for Reducing Voluntary Turnover – Any strategy begins with identifying the causes of turnover. An company example if provided as an example. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Retaining Employees A Comprehensive Approach to Retaining Employees – Experts suggest companies build their retention programs around the following: selection, professional growth, provide career direction, meaningful work and ownership, recognition and rewards, culture and environment, promote work-life balance, and acknowledge achievements. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Managing Involuntary Turnover
Managing Involuntary Turnover – Involuntary turnovers are inevitable. The employer will have to let some employers go when jobs are restructured or when competitive pressures necessitate reductions in the workforce. Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Poor performance However, dismissals due to poor performance are sometimes avoidable. Reviewing and improving recruitment, selection, training, appraisal, and compensation/incentive plans can reduce dismissals by addressing the reasons for poor performance Copyright © 2013 Pearson Education, Inc. Publishing as Prentice Hall

Reflective Report Essay/report style assignment:
1500 (minimum) to 2000 words (maximum) Paper / font / spacing: Write on one side only / 12 point font / 1.5 or double space. References: Harvard or APA; must demonstrate use of Chapters 1/ 3/ 5/ 7/ 8 (core textbook) Name: Front cover sheet Student ID: Major: Marking criteria: Print off the marking criteria and attach immediately after the front cover sheet. Due date: No Later Than 2018/12/6 -8:30am Reflective Report

Reflective Report The report should answer the following questions:
The report should answer the following questions: What have you learnt about the practice of HRM from the group work you were involved in? What have you learnt from the module lectures and readings about the models and how Chinese firms might effectively implement an appropriate HR management strategy? You are required to reflect on your learning from both the group work and the module lectures as well as any associated readings. You should write at least 3 paragraphs to answer each of the above questions In total, you should write at least 1500 words, and at most 2000 words.

Reflective Theme To answer each question,
your report should focus on at least three of the following themes: Reflective Theme 1: “Why Is HR Management Important to All Managers?” Reflective Theme 2: “How important is an HR strategic plan, why do organizations need a plan?” Reflective Theme 3: “What exactly is the war for talent? Why is it important for all organizations? Reflective Theme 4: “What is the best method for recruitment and selection to make sure an organization gets the best employees?

Reflective Themes Reflective Theme 5: “There is little need for performance reviews when staff are content or have little control over their work.” Reflective theme 6: “Why should an organization be concerned about retention and turnover? Reflective theme 7: “All employee pays increases and work-related benefits should be left to judgment by the immediate manger and him or her alone!” Reflective theme 8: “How can specific HR practices establish ethical behaviour in an organisation?”

Use examples Finally, when reflecting on each of your chosen themes, you should illustrate your learning with examples from real organizations. To do this research examples of Chinese companies /organizations either operating nationally or internationally and provide some examples of the company’s HRM practices that relate to the reflective themes you have chosen. You tutor can advise you about the suitability of your chosen examples either individually or at the workshops

Learning outcomes 1) Knowledge: Understand the core components of HRM, including theories and methods used in areas of HR planning, recruitment, motivation, training, appraisal and compensation. 2) Research: Information searching and sourcing both online and reading set texts. 3) Mentation: Can evaluate and characterize an organization’s HR management in terms of standard HRM functions. 4) Practical: Be aware of when policies may need to be formulated.

Marking Criteria – 2000 -word reflective assignment
HRM-201 Reflective Assignment Student NAME & ID: ____________________________________________________________ Elements Value Tutor 1 score Tutor 2 score Total Comments Substantial information and discussion on HRM Models. 20 /20 Use of information from the set textbook is evident. Reflection supports discussion with theoretical models, recent research and references. Thorough understanding of HRM interventions and practices and how these relate to Chinese companies Thorough and convincing outline concerning the challenges of managing human resources 15 /15 References information using APA or Harvard in both body of essay and bibliography. Must reference accurately. 5 /5 * 5 marks deducted if assignment is not laid out as requested into parts * 5 marks deducted if assignment has no introduction, discussion or conclusion. * 5 marks deducted if number of references is less than 10 references. * 5 marks deducted if references are more than 20 years old. -20 Total Marks 100 /100

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