professional compensation project slideshow
DESCRIPTION
Professionally designed spreadsheet outlining a prospective company\'s mission, values, and compensation plan. Created Feb 2010 for a class in the University of Florida MS-ISOM program.TRANSCRIPT
Establishing Gainesville’sPremier Dance Studio
Gator Dance
Our Mission
Gator Dance strives to be Gainesville’s premier dance studio. We pride ourselves on being
family friendly, endlessly creative, and having a safe and fun environment for our students to
learn the fundamentals of dance.
Our Focus• Values– Family Friendly Atmosphere– Creativity– Safety– Fun Learning Environment
• Goals– Establish studio’s brand– Have competitive team reach Nationals
Business Strategy: Marketing• Families with young children– Foster relationships for long-term learning
• Students from the University of Florida– Target those taking dance courses– Build upon classroom instruction– Encourage long-term learning
Business Strategy: Legal• Non-discrimination Policy– Hiring– Wage– Advancement
• Equal Opportunity Employer
JOB ANALYSISInternal Alignment
Job Analysis: Owner & General ManagerJob Description• Oversee all business and personnel decisions• Manage active dance projects.• Act as additional dance instructor
K: Dance Industry, BusinessS: Interpersonal, BudgetingA: Creativity, Critical Analysis, Self-motivating, DecisiveO: Well-rounded, Multitasking, Self-supervising
Mission Fit• Uphold Company Mission and Values• Foster Learning Environment
Job Analysis: Dance Instructor (3)Job Description• Run Dance Classes & Choreograph Performance Routines• Report to General Manager
K: Dance IndustryS: Interpersonal, Leadership, Teaching, CommunicationA: Creativity, Self-motivating, Time ManagementO: Well-rounded, Multitasking
Mission Fit• Instructors are Company's Face• Foster Friendly Environment• Effectively Teach Material
COMPENSATION POLICY
Job EvaluationCompensate for both Job and Skill• Base Pay relative to skill and experience
Compensable Factors• Class Size, Competition Performance, Experience,
Customer Reviews
General Manager Pay Structure• Salary• Incentive Pay for Instructor Responsibilities
External AlignmentMarket Wage & Bonus• Instructors
– Experience Dependant Hourly Wage; Median $13– High supply of instructors, low job demand
• Owner/Manager Pay Varies by Company Preference
Our Pay Policy• Manager
– $15/hr; Roughly $31,000 Annually: Living Wage– Profit Sharing Incentivizes Company Success
• Instructors: $13/hr + .25/hr * Experience– Annual Raise: .25/hr min
Motivate Employees• High Base Salary and Raises encourage
employees to remain with the company– Multiple years with same instructor ideal
• $5 to instructor for each returning student
• $50 Managerial Success Award– Managers more Actively Involved– Encourages Instructor Success
• Unknown Reward Timeline Encourages Constant Diligence
Incentive PayIncrease Compensation for Full Classes• 75% Full Class: $1/hr• 100% Full Class: $2/hr
How does it Motivate?• Encourages Instructors to be Fun and Creative– Attracts and Retains Students
• Competition Success Creates Brand Awareness
Non-Monetary Rewards & Benefits"Master Classes" with Leading Dance Instructors• Attendance Fees Paid by Studio• Furthers Instructor Knowledge and Creativity
Scheduling Benefits• Senior Instructors Set Schedules First
Health Benefits for All Employees• Fosters Familial Relationship in Company
FIN