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Compensation Process

Compensation Process. November, 2008. History. 1988- Salary ranges were created M for Mechanical Non-Exempt C for Clerical Non-Exempt A for Associates Exempt 1998- Career-Track was introduced. Salary Ranges. M-1 A-1 M-2 A-2 M-3 A-3 A-4 C-1 A-5 C-2 C-3 C-4. Career-Track. New Hire

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Compensation Process

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  1. Compensation Process November, 2008

  2. History • 1988- Salary ranges were created • M for Mechanical Non-Exempt • C for Clerical Non-Exempt • A for Associates Exempt • 1998- Career-Track was introduced Salary Ranges M-1 A-1 M-2 A-2 M-3 A-3 A-4 C-1 A-5 C-2 C-3 C-4 Career-Track New Hire Base Base+ Flex Flex + Lead

  3. Annual Compensation Process Research & Analysis Adjustments to Salary Ranges June-October Salary Budgets November Annual Performance Assessments November January Communication of Assessments Merit Increases March April

  4. Research • Compensation Data • June - October • Economic Data • June - October

  5. Research Collection • International • Canadian and British Columbia Supplier • National • World at Work Survey • Employment Security Commission • John Deere • Local • Capital Associated Industries • Triad Compensation Data • Employment Security Commission - NC Salary Survey Salary Survey Salary Survey Salary Survey Salary Survey

  6. Economic Data • Newsweek • Kiplinger Letter • Consumer Price Index • Various Websites • Hewitt • BLR • The Conference Board

  7. Analysis • Compensation Coordinator and HR Manager • Salary Ranges • We also rate jobs for exempt status versus non-exempt status as needed.

  8. Executive Analysis • Attendees • President • Executive Vice-President • Vice-President& CFO • Human Resource Manager • Compensation Coordinator • Review of data • Executive analysis

  9. Salary Ranges are Adjusted • Salary Ranges are discussed • Decision on overall adjustment of ranges M-1 +, 0, - A-1 +, 0, - M-2 +, 0, - A-2 +, 0, - M-3 +, 0, - A-3 +, 0, - A-4 +, 0, - C-1 +, 0, - A-5 +, 0, - C-2 +, 0, - A-6 +, 0, - C-3 +, 0, - C-4 +, 0, -

  10. Salary Matrix is Adjusted • Matrix creates alignment • Peg or center point is established • Example Only:

  11. Salary Budget is Determined • Overall budget is established • Allows for flexibility

  12. Performance Assessments • Performance Management Process is followed • Assessments are completed • Overall Ratings are entered • Matrix is referenced • Example:

  13. Salary Ranges are Adjusted • Salary Ranges are discussed • Decision on overall adjustment of ranges • Example:

  14. Communication of Merit Increases • Communication Forms are distributed • Manager and/or Supervisor Communicates

  15. Annual Compensation Process Research & Analysis Adjustments to Salary Ranges June-October Salary Budgets November Annual Performance Assessments November January Communication of Assessments Merit Increases March April

  16. Example • Charlie Brown is a salary grade A-1. • Charlie has a compa-ratio of 89.3% • Charlie was rated at an ME for this review period. • Resulting in a 4% increase. • Example:

  17. Questions

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