E-Sonic development attributes to the appointment of the most experienced and knowledgeable software development staffs. The analysis according to Consumer Price Index confirms that there was to be an improvement in cost of goods and services (Pfanner, 2013). The 1.8 increase in percentage is quite mutual in its progress. There are three pay grades according to the compensation analysis (Martocchio, 1998). The recommendations set include the increase in the hierarchy among the employees, appropriate job evaluation by their requirements, and finally, workers should easily access the point of operation (Mathis, Jackson, Valentine, & Meglich, 2016). They pay grades are to rise immensely as shown in the first analysis. The pay grades had 0-375 as the first one, 376-800, and finally 801 to 1250. All these will come through if E-sonic is externally fair.
E-sonic is an online music store and therefore, it must move with the technological advancement. According to North American Industry Classification System (NAICS), it falls under 334614 and 512220 codes (Moore, & Domingo, 2014). These codes assert its relevance in the software business since it can now manage the huge production of software, optical media and prerecorded audio. Its external competitions are much stiffer like it encounters challenge from foreign demands, other related companies, and even the prospects that keep it selling (Hasan, Ferguson, & Koning, 2013). Another economic challenge is decreased in demand for its audio needs which is always dealt with appropriately (Mobbs, 2013). E-sonic must develop a business model that ensure it attains the software experience it deserves and improves on its compensation structure (Martocchio, 1998).
Factors like an improvement on payment
schemes, job structure, and external competitiveness will ensure a better
performance of E-sonic (Mobbs, 2013). It must compare its strategies with those
of other related companies like ITunes.
For instance, its operations are like those of ITunes
except their job structure. ITunes have
to pay according to the nature of the job and have software developers. Every
level of management must play a role in improving the operations of E-Sonics.
Hasan, S., Ferguson, J. P., & Koning, R. (2013). The Lives and Deaths of Jobs. A Mid-Range Theory of Job Structures.
Martocchio, J. J. (1998). Strategic compensation: A human resource management approach. Pearson Education India.
Mathis, R. L., Jackson, J. H., Valentine, S. R., & Meglich, P. (2016). Human Resource Management. New York: Nelson Education.
Mobbs, S. (2013). CEOs under fire: The effects of competition from inside directors on forced CEO turnover and CEO compensation. Journal of Financial and Quantitative Analysis, 48(03), 669-698.
Moore, F., & Domingo, P. (2014). IFPI Digital Music Report 2014. Retrieved from http://www.ifpi.org/
Pfanner, E. (2013). Music industry sales rise, and digital revenue gets the credit. The New York Times, B3.