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- What will your new plan look like in terms of mix (base pay, performance pay, indirect pay)? Will all jobs have the same mix or will some jobs have a different mix? If different, why?
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- What will be your compensation strategy relative to market (i.e., lead, lag, match) and why?
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- How will you determine base pay (i.e., market pricing, job evaluation, pay for knowledge etc.) and why did you choose this method? Will you use the same method for all jobs or different methods for different jobs? Why or why not?
- Explain the steps you would go through to implement your chosen method. For example:
- If you choose job evaluation, explain which method would you use, the compensable factors you would measure, any factor weighting you would apply, and the process you would follow from job analysis through to the rating process.
- If you choose market pricing, identify who your market comparator firms are and why you choose them, how many firms you would survey, how you would obtain the information needed, how you would analyze the data (means, medians, weighted averages, quartiles), and the process you would follow from job analysis through to developing a market pay line.
- If you choose pay for knowledge, identify the skill blocks you have chosen, how you would price your grid, what issues you would have to consider in terms of developing and implementing this method and what process you would follow from job analysis to the final grid development.