Homework Assignment $2$

Mana $4342$

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There are $3$ parts to this homework for full credit be sure to complete both parts, the merit matrix, the strategy for your recommendations, and the costing of the merit matrix.

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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

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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 $\%$

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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 $2025$ using two possible grant dates $-$ the dates are February $1,2025$ and April $1,2025.$ The total payroll for this small company is $$25,083,936\mathrm{.}96$