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Assignment Task

Case – MedTech
MedTech is a software services company headquartered in US with operations in Singapore. It provides healthcare systems to small and medium-sized medical facilities. The system tracks patient’s medical records and provides an easy to use interface for medical workers and patients.
Its Singapore office has grown to about 60 employees with revenues of $8 million last year. It focuses on leveraging information technology to improve healthcare services at small and medium-sizedmedical facilities, differentiating itself from larger providers such as IBM, Oracle and SAP. MedTech appeals to smaller customers who cannot afford to pay the high cost associated with premium fullfledged software providers, which provides overly comprehensive enterprise software systems for customers in any industry. Due to its highly specialized focus on healthcare, MedTech has built a reputation for being an excellent medical software solution with strong reviews from medical professionals. It has built a sizeable customer base of smaller healthcare providers not served by other software competitors.
With the demand for medical and healthcare services on the rise, MedTech is looking at capitalizing on the immense growth in the industry. However, customers facing financial pressures are telling MedTech representatives that they need more proof that MedTech’s software will be a better investment than those offered by its competitors. MedTech founders realized that they must not only be more innovative in their approach to current customers but must also reach out to new ones to boost revenue growth.
The challenge is for MedTech to position itself to take advantage of the tremendous growth in the industry, while recognizing that its competitors will be looking to do the same. MedTech must carefully balance revenue growth and cost control, to allow it to be a competitive company moving forward. MedTech must assess how the substantial industry growth will affect the labor market for key employee skills that MedTech needs.
A recent employee engagement survey revealed sentiments that employees are concerned about their compensation. You have been hired as a compensation specialist to advice MedTech on their strategic compensation management. The management has requested for you to provide a detailed report containing key insights and recommendation. The report is to be delivered in a month’s time during the annual management review session.

You are provided with the following:
• Annex A: U.S. Bureau of Labor Statistics Guide for Evaluating Jobs
• Annex B: A representative sample of MedTech’s jobs
• Annex C: A sample of MedTech’s employee information 
 

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Your report should cover the following:
Part 1 (Covering Topics 1 & 2):
a) Recommend the appropriate business objectives, business strategy and HR objectives for MedTech, explain your rationale considering the case information provided. (5 marks)
b) Using the 4-Factors USBLS Job Evaluation Guide (Annex A), perform job evaluation for the sample of 10 MedTech’s jobs (Annex B). Determine the job worth of each of the 10 sample jobs. Present your answer using the format below, in order of smallest to largest job evaluation point.
Job Factor 1
(Knowledge)
Factor 2
(Job Controls and Complexity)
Factor 3
(Contacts)
Factor 4
(Physical Environment)
Total Job
Evaluation Point
… a b c d a+b+c+d


c) Recommend with reason, the ideal job structure (hierarchical or egalitarian) for MedTech. State the job evaluation point range for each level in the next table* below.
Part 2 (Covering Topic 3):
d) Recommend the appropriate compensation strategy to ensure external competitiveness for MedTech, specifying the ideal pay level and pay mix.
e) Using any Salary Guide as a reference, design the pay structure* for MedTech.

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