Assignment 6: Setting the Base Pay Level Based on the Market (70 points) Due: by 11:59 pm, Sunday, November 17th, 2019 * No assignments will be accepted late without written documentation of an unavoidable or unforeseeable event. Why this assignment? This assignment supports Course Objective 4 listed on our syllabus Instruction 1. To do this assignment, you need to first know how you can obtain the market pay data of a given job in a given area from the Bureau of Labor Statistics webpage ( www.bls.gov/oes/data.htm So, watch the video Bureau of Labor Statistics (BLS) Pay Data (provided with this instruction file in But you were also required to watch this video for Discussion #4. So, if you already have watched this video, you do not need to watch it again. 2. W atch the video How to obtain pay data from Glassdoor also provided with this instruction file in Canvas)Canvas). You also need to have a clear understanding of the contents in this 3 . Lets assume that y ou plan to open a large family restaurant in Killeen, TX. You are in the process of hiring employees for your restaurant. In this process, you need to decide on the standard pay level of various jobs within your restaurant. And one of the jobs that you need to set the standard pay level for is the Kitchen Manager job . You are planning to hire three Kitchen Managers considering the work hours for rotation and smooth operation. The pay of each Kitchen Manager is likely to differ from one another considering his or her experience and other factors. However, you do want t o have a clear picture of the overall standard pay level that you are willing to pay for this job. You believe the three major competitors in this market are TGI Fridays, Outback Steakhouse, and Texas Roadhouse. You want to position your restaurant as a pl ace that a family can enjoy at a lower price than these three restaurants. So, you plan to maintain the overall operating costs and labor costs as low as possible. As a result, you want to set the pay level of the Kitchen Manager job lower than that of the Kitchen Managers at these three restaurants at the national level. However, you do want to pay at a higher level than the 25 percentile wage level of Kitchen Managers in the Killeen area. 4. So, you first have decided to research on the pay level of you r competitor s (at the national level). Using the data from Glassdoor www.glasdoor.com ), fill in the below table (Table 1) Table 1. Average Annual Pay of Kitchen Managers in the Three Restaurants Job TGI Fridays Outback Steakhouse Texas Roadhouse Average Range Average Range Average Range Kitchen Manager * To see the pay level estimate on the Glassdoor website ( www.glasdoor.com ), follow the below
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