Discuss the pay structure recommendations given by Nutriment Biotech's human resource manager, Jack Stewart. This discussion...

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Discuss the pay structure recommendations given by Nutriment Biotech's human resource manager, Jack Stewart. This discussion will prepare for an upcoming meeting with Nutriment Biotech's owners to discuss recommendations that satisfy new hires and the organization. Our structure will enable Nutriment Biotech to ensure it is financially responsible while providing good equity. This discussion will compare processes between our required reading and hiring platform, Indeed.com. Our human resource manager, Jack Stewart, can begin by conducting a compensation analysis based on external and internal factors. A compensation analysis will determine if Nutriment Biotech's salaries compare with their competitors in a way that appeals to job seekers (Martocchio, 2019). We begin by looking at the job market competition. Offering a competitive salary range signals that an organization places value on its employees and provides strong competition in a specific industry (Indeed Editorial Team, 2022). While Jack is doing a compensation analysis, this may reveal that his organization is paying above the market average. Jack will want to discuss this substantial impact on the personnel cost with leadership. A correction can avoid profit loss when hiring new employees. Formal pay structures always aim to avoid biases to determine the best pay structure. Fair pay standards will improve the workplace and protect the organization from unequal compensation issues (Indeed Editorial Team, 2022). Finally, Jack will work with Emily and Harold to ensure a total package is ready for their new employees and the owners. Typically, a salary and wage survey will help define acceptable pay ranges (Martocchio, 2019). Next, the team will work with department leaders to define responsibilities and job categories. A job definition with details about education requirements, background, and years of experience will also ensure that the surveys meet the organization's needs. At this stage, the human resource team should have a final position on market research and a pay structure to present. Once a core compensation package is ready, Jack can present salary and employee benefit costs for 10-15 new employees (Martocchio, 2019). The data collected will help leaders decide on their approach to maximizing the business's growth. The presentation will illustrate if there is a lag in compensation or if Nutriment Biotech is meeting market value. From here, human resources should successfully begin the recruiting and onboarding process for new employees. Discuss the pay structure recommendations given by Nutriment Biotech's human resource manager, Jack Stewart. This discussion will prepare for an upcoming meeting with Nutriment Biotech's owners to discuss recommendations that satisfy new hires and the organization. Our structure will enable Nutriment Biotech to ensure it is financially responsible while providing good equity. This discussion will compare processes between our required reading and hiring platform, Indeed.com. Our human resource manager, Jack Stewart, can begin by conducting a compensation analysis based on external and internal factors. A compensation analysis will determine if Nutriment Biotech's salaries compare with their competitors in a way that appeals to job seekers (Martocchio, 2019). We begin by looking at the job market competition. Offering a competitive salary range signals that an organization places value on its employees and provides strong competition in a specific industry (Indeed Editorial Team, 2022). While Jack is doing a compensation analysis, this may reveal that his organization is paying above the market average. Jack will want to discuss this substantial impact on the personnel cost with leadership. A correction can avoid profit loss when hiring new employees. Formal pay structures always aim to avoid biases to determine the best pay structure. Fair pay standards will improve the workplace and protect the organization from unequal compensation issues (Indeed Editorial Team, 2022). Finally, Jack will work with Emily and Harold to ensure a total package is ready for their new employees and the owners. Typically, a salary and wage survey will help define acceptable pay ranges (Martocchio, 2019). Next, the team will work with department leaders to define responsibilities and job categories. A job definition with details about education requirements, background, and years of experience will also ensure that the surveys meet the organization's needs. At this stage, the human resource team should have a final position on market research and a pay structure to present. Once a core compensation package is ready, Jack can present salary and employee benefit costs for 10-15 new employees (Martocchio, 2019). The data collected will help leaders decide on their approach to maximizing the business's growth. The presentation will illustrate if there is a lag in compensation or if Nutriment Biotech is meeting market value. From here, human resources should successfully begin the recruiting and onboarding process for new employees.

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The pay structure recommendations provided by Nutriment Biotechs human resource manager Jack Stewart are focused on ensuring that the organizations co... View the full answer