Defining Compensable Factors

FastCat needs to incorporate a culture of constant innovation to achieve its objectives of meeting customer requirements. Currently the organization is focusing on attaining financial stability given the current market scenario. Maintaining a committed and talented workforce thus is an imperative for the given situation. Defining the compensable factors such that it is alignment with the business strategy becomes quintessential for FastCat to maintain its competitive advantage. The categories of the compensable factors can be defined as follows: Skills Problem Solving: In accordance with the strategy of the organization emphasizing on constant innovation it would essentially require a lot of fire-fighting in terms of meeting not only the customer requirements but also dealing with the problems arising during product innovation. The job should be evaluated in terms of level as well as frequency of the problems. Interpersonal: The employees of FastCat need to be good team players apart from working on their core competencies when working on product development. Further developing strong client relations would require, especially in the marketing job family, strong interpersonal skills. Communication: Developing a strong and stable workforce would require the communication channels to be free and open. Further to percolate the strategy of the organization to all the hierarchical levels would require strong communication skills in the managerial job families. When eyeing on increasing the market share increasing the customer pool further would also require strong communication skills in the marketing job family.

Profile Educational Qualifications: The technical acumen of the employees forms the base of the organization. One should be able to attract and retain a strong talent pool to gain competitive advantage. Relevant Work experience: An experienced work force would not only contribute to organizational performance but also would be a major selling point for attracting customers. Relevant Certifications: To maintain the required quality level of the delivered product it is important that the staff involved should have relevant certifications. The administration and support involved in data handling should also have required certifications. Behavioural Innovation and Creativity: The core competency of the organization is the customer focus that it has achieved. Delivering projects that meet the changing technology as well as the changing customer requirements would require high innovation and creativity on the part of the employees. Initiative taking: It is important to foster a culture of taking initiatives within the organization. The span of control should commensurate the span of authority so that the employees feel accountable for the decisions they are taking. Team Work: The product development teams would require a lot of team work and hence is a relevant compensable factor. The departments might also require forming cross functional teams when working on the projects. The managerial staff would have to work less as a liaison if there is less conflict within the organization. Flexibility: The kind of the industry the organization functions in is extremely dynamic as the number of projects fluctuates according to the market requirement. The technological dependence also makes flexibility in the employees an important the technology is rapidly changing.

Responsibility Customer focus: The organization would work best if it functions as a customer focused business unit. Rewarding the employees especially those in marketing for incorporating customer focus would help the organization in achieving the goal of being customer driven. Decision Making: The ability to choose between the various alternatives would define the growth and future of the organization. Delayed decision making would result in cost overheads as well as losing valuable customer base.

Factor Scaling for each job family

Administrative The administrative work primarily comprises of keeping and maintaining the computers, systems and also has a direct impact on the work of the engineers. Since it majorly involves the adherence to already set procedures the skills become very important to identify the errors. Hence high weight (35%) is given to the skills required and the profile. However behavioral and responsibility compensable factors such as decision making have been given low weights as they need not be emphasized on in an administrative role. Compensable Factor Skills Problem Solving Interpersonal Communication Educational Qualifications Relevant Work experience Relevant Certifications Innovation and Creativity Taking Initiative Team Work Flexibility Customer focus Decision Making Degree Weight 1-5 1-5 1-5 1-5 1-5 1-5 1-5 1-5 1-5 1-5 1-5 1-5 10 15 10 10 15 10 5 5 5 5 5 5 Total 35

Profile

35

Behavioral

20

Responsibility

10

Marketing The kind of work that the organization is involved in requires an extremely good customer interface which helps increase the market share by focusing on the generating volumes and margins for the business. Hence we have given highest weight to customer focus (15%) The second importance is given to interpersonal skills and communication (10%) as they are needed to form an alliance with the customers.

Compensable Factor Skills Problem Solving Interpersonal Communication Educational Qualifications Relevant Work experience Relevant Certifications Innovation and Creativity Taking Initiative Team Work Flexibility Customer focus Decision Making

Degree Weight 1-5 1-5 1-5 1-5 1-5 1-5 1-5 1-5 1-5 1-5 1-5 1-5 10 10 10 5 10 5 10 5 5 5 15 10

Total 30

Profile

20

Behavioral

25

Responsibility

25

Technical Support As per the organization strategy, more and more innovative and customized products need to be created for existing as well as new customers. Hence we have given the highest weight to the educational qualifications (20%). More the technical expertise better the innovations. Since they have absolutely no need to interact with customers we have given no weight to the customer focus. Compensable Factor Skills Problem Solving Interpersonal Communication Educational Qualifications Relevant Work experience Relevant Certifications Behavioral Innovation and Creativity Taking Initiative Team Work Flexibility Customer focus Decision Making Degree Weight 1-5 1-5 1-5 1-5 1-5 1-5 1-5 1-5 1-5 1-5 1-5 1-5 10 10 10 20 15 15 5 5 5 0 0 5 15 Total 30

Profile

50

Responsibility

Engineering This department requires the maximum innovation, creativity and problem solving and hence has been given the maximum weight (15%). Since the jobs in this category of job family would be involved in product development it would require collaboration with marketing department the team work has been given high weight. But since they would be working on pre-defined specifications the weight given to customer focus is very less. (5%) Compensable Factor Skills Problem Solving Interpersonal Communication Educational Qualifications Relevant Work experience Relevant Certifications Behavioral Innovation and Creativity Degree Weight 1-5 1-5 1-5 1-5 1-5 1-5 1-5 15 10 5 10 10 5 15 35 Total 30

Profile

25

Responsibility

Taking Initiative Team Work Flexibility Customer focus Decision Making

1-5 1-5 1-5 1-5 1-5

5 10 5 5 5

10