Real-Life Math -- Solution
The final decision on who gets how much of a raise depends on your
understanding, as a manager, of the efforts of your staff.
Here's
one way you could allocate the merit increases, using as much of your $23,000
budget as possible.
Employee No. 1 gets a 10 percent increase -- $4,800
Employee
No. 2 gets a 9 percent increase -- 4,500
Employee No. 3 gets a 6 percent
increase -- 2,640
Employee No. 4 gets a 6 percent increase -- 2,970
Employee
No. 5 gets a 4 percent increase -- 1,980
Employee No. 6 gets a 4 percent
increase -- 1,760
Employee No. 7 gets a 3 percent increase -- 3,570
----------------------------------------------------
Total
-- $22,220
Everyone uses math skills in at least some aspect
of life. Banking customer services managers certainly don't make for
an exception.
"Despite the use of very sophisticated computers, you
still need basic math skills to check your work," says B.J. Taylor, the manager
of customer sales and services at a trust company.