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Essay / Disney Salary Analysis - 714
According to salary range, The Walt Disney Company employs talent in positions ranging from Senior Financial Analyst to Senior Software Engineer. The average employee at The Walt Disney Company earns $68,000 per year. The staff member's role in the business primarily determines remuneration; However, length of time you've worked and geography are also reported to be secondary influences on salary at The Walt Disney Company. According to the article, senior software engineers, finance managers, software engineers and IT business analysts are at the top of the salary scale. For workers with one to four years of experience, the median salary reaches $58,000 per year. Five to nine years of work experience appears to result in a median salary of around $76,000 per year. The compensation examples above show that the more skilled and experienced employees are in the organization, the more they are paid. Organizations would benefit from using the same practices that Disney extends to their staff. Companies whose primary goal of their plan is solely to meet compliance requirements could greatly benefit from developing a comprehensive benefits plan. This could help increase their return on investment. In my opinion, the value a company can derive from Disney's compensation plan is to attract competent workers, retain them, and motivate them to devote their energies to achieving the organization's goals. Companies can put policies in place to regularly conduct market research to implement a true performance appraisal system, then work to retain good employees and eliminate low-performing workers. By following Disney's lead to find those who best fit their company culture and supporting the company's mission. To ensure the salary structure is externally competitive, a salary survey must be presented. For survey results to be valid, market wage data must come from the relevant labor market for each reference job. I would advise that a survey of regional and global salary data be collected from the company, as for example most office support, human resources and operations jobs will be filled by local candidates. A job analysis is the process of examining jobs at a similar company. The result of this process is a job description “that includes the job title, a summary of the job duties, a list of essential tasks and responsibilities, and a description of the work context” (Burke, 2008). A job description includes the knowledge, skills, and abilities needed to perform the job. A job evaluation is the process of evaluating the comparative value of a job within a company.