Case Analysis Rejuvenate the compensation plan Cooper does not have a formal wage structure nor does it have rate ranges or use compensable factors. Wage rates are based mostly on those prevailing in the surrounding community and are tempered with an attempt on the part of Robin Chowdhury (CEO of the Cooper) to maintain some semblance of equity between workers with different responsibilities in the outlets are paid. Robin does not do any formal surveys when determining what his company should pay. Instead, he peruses the want ads almost every day and conducts informal surveys among his friends in the local division of the food and beverage association. While Robin has taken a "seat-of-the-pants" approach (using only his own experience and trusting in his judgment) to paying employees, his salary schedule has been guided by several basic pay policies. Although many of his colleagues adhere to a policy of paying minimum rates, Robin has always followed a policy of paying his employees about 10% above what he feels are the prevailing rates, a policy that he believes reduces turnover while fostering employee loyalty. Of somewhat more concern to the informal policy of paying men about 20% more than women for the same job. Based on the explanation that "They're stronger and can work harder for longer hours, and besides they all have families to support." Questions 1. Is the company at the point where it should be setting up a formal salary structure based on a complete job evaluation? Why? 2. Is Robin Chowdhury's policy of paying 10% more than the prevailing rates a sound one, and how could that be determined? Similarly, is Cooper's male-female differential wise? If not, why not? 5 points Is the company at the point where it should be setting up a formal salary structure based on a complete job evaluation? Why? Your answer Is Robin Chowdhury's policy of paying 10% more than the prevailing rates 5 points a sound one, and how could that be determined? Similarly, is Cooper's male-female differential wise? If not, why not? Your