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Derivative Security Assignment

Submitted by stevenson on February 11, 2007

Category: Business
Words: 723 | Pages: 3
Views: 277
Popularity Rank: 37,528
Average Member Grade: N/A (Add a Comment / Grade this Paper)

Development and Implementation

Now that the alternatives and risks have been assessed, and optimal solution selected, we can now describe the functionalities and job duties of the new departments at Riordan Headquarters.
The Office of Compensation and Job Design
Riordan's Chief Financial Officer, Dale Edgel will be responsible for running the Office of Compensation and Job Design. The unit is responsible for the design and administration of the job evaluation plans at Riordan Manufacturing. A customized Aiken Plan will be used in place to evaluate Support Staff positions, and a customized Hay Plan is used to assess Administrative Professional Officer (APO) positions.
On-going accountabilities of the department include the professional evaluation of positions, and the provision of consulting services to departments and staff regarding job and organizational design, and position management. The department also conducts salary surveys, and provides the organization with industry response to related external public and private sector surveys.
Riordan can address many internal issues through implementing the nine steps of the Aiken plan, which include: complexity, education, experience, initiative, consequence of errors, contacts, character and scope of supervision, physical demands, and working conditions. Not all nine steps will be utilized in managing compensation and job design strategies.
The Aiken Plan is used both as a guideline and tool for measuring the varying compensation needs of the employees at Riordan manufacturing.
• Character and scope of supervision considers the degree and nature of employees' position supervisory responsibilities. A position that, supervises and instructs, teaches, or trains is ranked in both line supervision and instruction. The higher of the two rankings is used to award points for this factor.
• Complexity/Judgment (Decision Making), this factor...

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