Homework Assignment $2$

Mana $4342$

There are $3$ parts to this homework for full credit be sure to complete both parts, the merit matrix,

explanation of the strategy used to create the merit matrix and the costing of the merit matrix.

Given the percentage of employees receiving the $4$ different levels of performance evaluation and the $\%$

of employees who are currently within the lowest $1/3,$ middle $1/3$ and top $1/3$ of their salary range

construct a proposed merit matrix. The objective is to reward outstanding performers more than those

who exceed expectations and both of these groups more than those employees who meet expectations.

You also need to determine if those who did not meet performance expectations should be given an

increase. Overall merit pool for the company this year is $3\%.$

POSITION INTO RANGE

Bottom $1/322\%$

employees

Middle $1/352\%$ of

employees

Top $1/326\%$ of

employees

Outstanding $=4\%$ Recommended $\%$ Recommended $\%$ Recommended $\%$

Exceeds $=21\%$ Recommended $\%$ Recommended $\%$ Recommended $\%$

Meets $=74\%$ Recommended $\%$ Recommended $\%$ Recommended $\%$

Does Not meet $=1\%$ Recommended $\%$ Recommended $\%$ Recommended $\%$

Use a single percentage for each of the cells in the matrix rather than a range.

Explain your strategy for the proposed merit matrix.

Once you have determined the appropriate merit matrix cost out the proposed merit increase for the

company for the year $2023$ using two possible grant dates $-$ the dates are February $1,2023$ and April $1,$

$2023.$ The total payroll for this small company is $$25,083,936\mathrm{.}96$

This homework is worth $25$ points.