Assignment 5: Creating Your Dream Job
Due Week 10 and worth 300 points
In this assignment, you get the chance to create your dream job and to build its compensation plan and appraisal performance.
Write a six to eight (6-8) page paper in which you:
Create a job description and specifications for your dream job.
Design a compensation and benefits package related to your dream job.
Rationalize your compensation and benefits package. Be sure to indicate the research and considerations that went into the design of the compensation and benefits package.
Imagine this is the only position of its kind in the organization. From this perspective, design a performance appraisal program to assess your job performance.
Rationalize your performance appraisal program. Be sure to indicate the research and considerations that went into the design of the performance appraisal program.
Use at least three (3) quality resources in this assignment. Note: Wikipedia and similar websites do not qualify as quality resources.
Format your assignment according to the following formatting requirements:
Typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
Include a cover page containing the title of the assignment, your name, your professor’s name, the course title, and the date. The cover page is not included in the required page length.
Include a reference page. Citations and references must follow APA format. The reference page is not included in the required page length.
The specific course learning outcomes associated with this assignment are:
Discuss job analysis, job descriptions, and specifications.
Analyze various techniques, considerations, and designs of employee compensation programs.
Analyze various techniques, considerations, and designs of performance appraisal programs.
Use technology and information resources to research issues in human resource management.
Write clearly and concisely about human resource management using proper writing mechanics.
Creating Your Dream Job
Most organizations if not all needs to have space where they can store their inventories and raw materials used in the production of goods and services. Therefore, a store is an important department or a component of success, especially in a manufacturing company. My dream job is to a success store manager who guarantees the going concern of a business may ensure that there are enough raw materials for the production process of the company. Store management focuses on receiving materials, to secure them while in storage or warehouses, to issue the materials in right amounts to the right people and to provide these valuable services at least cost possible. This paper will attempt to provide a detailed description and specifications for the job as a dream occupation. Additionally, the study will develop a compensation plan as well as performance appraisal for this job.
Job description and specification
Job Title: Store Manager
Department: retails management
Basic functions: receiving, securing, protecting and issuing raw materials for production.
Irrespective of the company or the industry that an individual is working as a store manager, he or she needs to be a well-rounded business person who fully understands merchandising. The task and responsibility of running a store may not be as simple as most people tend to think considering that it tests the manager’s financial and administrative skills. Below are the basic qualifications of any individual willing to fill a store manager position.
- A bachelor’s in business administration or any other business related field from a recognizable institution
- Possess skills in marketing, management, leadership, communication and can form a management strategy as well as integrate well with other company employees.
iii. Conversant with computer packages such as Microsoft Word, database, and Microsoft Excel
- Two years experience in a similar position in a recognizable organization
- Candidates with storage administration and management training and skills will be preferred to other candidates
Job skills and requirement
1) Leadership skills – a good store manager has to keep his employees motivated, resolve conflicts in the workplace and make tough and hard decision regarding employees working relationship and operations in general. Therefore, a good store manager must have leadership skills to lead his or her employees.
2) Time management – considering that a store manager has to work worth different stakeholders in the business such as fellow employees, managers, and customers, time management is essential considering he or she might be forced to create and develop schedules, order supplies and write reports.
3) Decision-making skills – store management is one of the toughest yet enjoyable occupations considering that a store manager actively participates in the long-term success of the business by making sure that there are enough raw materials in the company stores. These buy or issue decisions are tough considering that he or she deals with customers, employees, management, and vendors who might not be trusted all the time and the decisions made might affect the operations of the entire company (COLLINS, 2015).
4) Speaking and writing skills – store management involves a lot of communication with the management, employees, customers or even suppliers. Great verbal communication and writing skills are necessary since they enable the manager to express his position, opinion or feelings regarding different scenarios in the company as well as issuing instructions.
5) Customer service skills – customers remain the most important stakeholder of a business who must be handled with care. Therefore, the manager needs to possess skills that will enable him or her to handle all client grievances and also take care of issues before they move toward becoming problems which help to make client devotion.
Depiction of work
- a) Complete store operational prerequisites by planning and relegating representatives and following up on work comes about
- b) Maintaining store staffs through recruitment, selection, orientation, and training of employees.
- c) Maintaining store employee job results through coaching, advising, rewarding and disciplining them appropriately. This is achieved through planning, managing and maintaining appraisal job results
- d) Establishing present and future client prerequisites by distinguishing affinity with potential and real client and different people in a position to comprehend the administrative necessities
- e) Achieves financial goals through the preparation of the yearly spending plan, planning costs, breaking down fluctuations and starting restorative activities
- f) Makes sure that merchandise and services are available by approving contracts and maintain inventories
Design a compensation and benefits package related to your dream job.
One of the key elements of designing a compensation plan is to offer competitive pay to the employees. This is crucial if the company is willing to catch and maintain top talents in the labor market as well as maintaining employee loyalty. A store manager is usually in charge of overseeing personnel and operations at a retail store. Therefore, he or she should receive an annual salary of at least $ 54, 782. Apart from the basic salary, he is entitled to bonuses and perquisites for extra and handwork in the company. The manager is entitled to both direct and indirect compensation.
The direct compensation is the amount of basic salary the manager receives which is $ 54,782 per year in this case. Notably, this basic salary often varies from organization to another depending on the rules and regulations as well as the policies of a company.
The indirect compensation involves all the bonuses the manager is entitled to for performances that exceed the expectations of the company. Therefore, he will be entitled to bonuses for working overtime calculated on an hourly basis, which will be paid for all hours worked overtime. Additionally, he is entitled to a commission for goods sold beyond the limit.
The above compensation plan involves monetary remunerations. Therefore, the total pay package of the manager includes both direct and indirect compensation. However, the company also provides non-monetary benefits to all its managers such as life insurance, medical insurance and social income and pension plans. Therefore, the store manager and his or her family will enjoy job security from the above benefits.
Rationalize your compensation and benefits package
Owing to the high competition in the labor market as well as competition in the available market today, there is no single organization that will be willing to keep unproductive employees who enjoy high compensation and benefits for nothing. Therefore, the above compensation and benefits plan has been designed by the manager’s workload and target.
Additionally, the plan was designed by the fact that a store manager works for twenty-four hours a day seven days and hardly get times to rest and for leisure. He or she is the only employee who must be at the organization store or distribution center full time. Also, he has the duty to make the store capable and beneficial, investigates and makes the best utilization of the item stock and retail spending plans, deals and buys (COLLINS, 2015). Additionally, he has the obligation of turning the stock in such a way that the products magnetize the patrons. He must ensure that goods do not spoil while in storage from any hazard.
Performance appraisal presents a technique through which the job performance of a worker is assessed and recorded. It is a part of profession advancement and includes consistent audits of employee performance inside an association. A potential possibility for this position ought to have a top notch amalgamation of illumination and related employment information to perform in the limit of a store supervisor with high pay and benefit package. Therefore, performance appraisal would be based on the organization’s goals, objectives and employment responsibilities as outlined in the employee handbook (Mader-Clark, 2013). Thus, the appraisal program would:
1) Evaluate the manager’s ability to meet deadlines on assigned duties
2) Evaluate the number of projects accomplished
3) Assess the manager’s ability to execute and perform his or her responsibilities competently, objectively, with integrity and with independence
4) Establishing the amount of benefits and incentives received after the accomplishment of every project
5) Evaluate the manager’s participation in other organizational activities such as training, professional workshops, and conferences
In addition, the performance appraisal will also include a number of performance factors that includes a store managers skills regarding planning, managing and handling store operations and issues and addressing any challenge; his ability to communicate as well as his ability to lead other employees to execute their duties and responsibilities in the company. Notably, it is prudent to evaluate his or ability to manage the expenditure of the store and his or her ability to run the store at the minimum cost possible.
Rationalize your performance appraisal program
The performance appraisal created above was developed based on the standards and criteria proposed by the United States Office of Personnel Management. The criteria focus on:
- Retaining a copy of the employee’s performance plan
- Staff self-evaluation documents to be part of the completed projects and accomplishments by an employee
iii. Documentation of employee feedback from the employer
- Evaluation of the responsibilities and tasks of the staff to establish if they met the expectation and target and to detect any changes
- The supervisor should address the performance of the staff if the employee has performed their responsibilities in a prompt manner and with class. Additionally, the supervisor should visit all areas of performance that requires improvement or that have been improved since the last performance appraisal (United States, 2009).
Notably, satisfying the staff based on their performance can motivate them to attain their goals and targets. The appraisal is meant to establish the growth and improvement of the employees while at the same time identifying the corrective action that can be taken to help him to meet expectations. Regular personal review and analysis And clear visibility can be instrumental to the management considering it presents a platform and an opportunity to identify skill and knowledge gap that needs to be filled to help improve the performance of individual employees as well as that of the organization in general. Therefore, proper implementation of the designed performance appraisal will benefit the company, managers, and employees since they will understand what they have and what they need so that they can make plans to acquire what they do not have.
COLLINS, H. E. (2015). RETAIL STORE MANAGEMENT. S.l.: FORGOTTEN BOOKS.
Mader-Clark, M. (2013). The job description handbook. Berkeley, CA: Nolo.
United States. (2009). Audit of the inventory and management of the U.S. Office of Personnel Management’s sensitive property. Washington, DC: U.S. Office of Personnel Management, Office of the Inspector General, Office of Audits.