Fast Cat: Analyzing Pay Level, Pay Mix, and Benchmarking Jobs Report

This report examines the pay level and pay mix strategies of a business firm, specifically focusing on how the company addresses salary issues between management and the union. The report highlights the conflict arising from differing viewpoints on employee compensation, particularly in light of the company's financial situation and debt obligations. The firm's approach involves offering incentives and cash rewards to motivate employees while managing costs. Furthermore, the report delves into the concept of pay mix, which combines salary with additional benefits tailored to different management levels. It then provides a job benchmarking analysis, comparing job titles within the company to similar roles, such as matching 'office aide' to 'office support 1' and 'data processor' to 'office support 2', and discusses the implications for salary structures. Finally, the report references the importance of pay mix in cost management and the need for firms to consider various factors when adjusting their compensation strategies to ensure employee satisfaction and control costs.

REPORT

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
Pay level.......................................................................................................................................1
Pay mix........................................................................................................................................1
Benchmarking jobs......................................................................................................................2

INTRODUCTION
Pay level
There are some of the issues that are observed in case of the business firm as union and
management are in front of each other in respect to salary issue. It can be observed that
management is giving less amount of salary to the employees and it is considering such kind of
things right. On other hand, Union members have common belief that in comparison to market
rate less amount is paid to them and due to this reason they are entitled to received increased
amount on their salary and wages. Both enities are stand on their point of view and due to this
reason conflict arises between them. In current time period it can be observed that business firm
is on growth track and it is earning profit in its business but there are some of the debt
obligations that firm have to pay in its businesss. Due to this reason it is following cautious
approach and under this it is planning to make payment to the creditors and when all dues will be
paid hike will be given to employees on their current salary amount. However, from such kind of
plan union members are not satisfied and due to this reason management of the firm decide that
attractive amount of incentive and cash reward will be given to the employees so that they
receive additional income and feel motivated at workplace to work hard in interest of the
business firm. Thus, it can be said that firm prepare perfect plan and it identify middle path to
handle such kind of complex problem.
Pay mix
Pay mix refers to the situation where combination of salary and extra benefits are
determined which is given to the employees working at different level of management (What is
pay mix in sales compensation, 2017). It must be noted that employees working at varied level of
an organization have different salary structures and according to position they have in the
company specific amenities are also received. Hence, it can be said that pay is not same for all
employees and way in which aggregate amount computed will include different elements with
change in position in an organization. Fast cat is planning to give same salary to the employees
as it earlier give at workplace and additionally it wiill give incentives and other benefits to the
employees. All these things will motivate employees to work hard at the workplace. This is
because they are received fixed amount of salary on doing work that they already done in past
time period. Now for earning more in the firm and delievering excellent quality product and
1 | P a g e

service employees make their maximum effort. All these things lead to increase in revenue of the
business firm. It can be said that pay mix have due importance for the firm because it help it in
making adjustment in its cost structure. Thus, firms must after considering number of factors
must make adjustment in their pay mix in such a manner that employees get satisfied and
employee cost remain in control in the business.
Benchmarking jobs
Fastcat job Title Survey job title JE Point
Office Aide Office Support 1 90
Data Processor Office Support 2 110
Administrative Assistant II Office Support 3 135
Administrative Assistant Office Support 4 170
Executive Staff Assistant Office Support 5 180
Office Leader Office Support 6 250
Marketing Support Marketer 1 150
Field Marketing Rep Marketer 2 220
Business Solutions Consultant Marketer 3 270
Business Account Leader Marketer 4 320
Technical Marketing Consultant Marketer 5 400
Visionary Champion Marketing Manager 3 475
Technician Technician 1 100
Technical Analyst A Technician 2 150
Technical Analyst B Technician 3 160
Senior Technician Technician 4 220
Usability Engineer Engineer 1 190
Software Development Engineer Engineer 2 250
Software Interface Designer Engineer 3 330
Software User Interface Architect Engineer 5 390
Project Manager Engineering Manager 1 430
Senior Fellow Engineering Manager 3 540
It can be seen from above table that office aide job matched to the office support 1 job because in
case of both sort of jobs entirely office related work is done and due to this reason it can be said
2 | P a g e

that there is similarity between both profiles. Thus, whatever is salary offered for office support
1 job can also be given to the individuals that are working on profile of office aide.
On other hand, it can be observed that office support 2 job matched to the data processor profile
because in case of both jobs data is gathered and processed and analyzed further to identify
useful facts about the business and to make business decisions. It can be said that that to great
extent these profiles matched to each other.
3 | P a g e

REFERENCES
Online
What is pay mix in sales compensation, 2017. [Online]. Available through:<
https://www.xactlycorp.com/blog/pay-mix-differ-sales-role/>.
4 | P a g e