Compensation
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- Category: Arts
- Date Submitted: 06/19/2011 01:03 PM
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Career Development Plan IV – Compensation
Name
University of Phoenix
Career Development Plan IV – Compensation
One of the first things to do after the merger of InterClean Inc. and EnviroTech is to consider compensation. Job Analysis and Selection, Career Develop Plan and Team Appraisal are components that can be used in desiding employee compensation. In the article Delivering Incentive Compensation Plans That Work “A good plan will encourage cooperation among staff in different functional areas, and will prompt employees to work hard and be innovative without engaging in questionable ethical behavior.” (Bolten, R.) In the United States we are a country filled with fortune five hundred companies. In order to compete for the best talent competitive pay and in some instances extrinsic perks must be used. The merger of InterClean Inc. and EnviroTech wants to offer a competitive base pay rate. In addition to the competitive base pay rate we would also like to offer sales commission and health insurance.
New compensation plan for the new employment team
The compensation plan that we developed will be based on merit. According to Managing Human Resources obtaining an higher rate of compensation could possibly include these components i.e. Establish high standards of performance, Develop accurate performance appraisal systems, Train supervisors in the mechanics of performance appraisal and in the art of giving feedback to subordinates, Tie rewards closely to performance, and Use a wide range of increases; Make pay increases meaningful. Initially hiring individuals focused on meeting the minimal requirements. The way will determine compensation will be based on the minimal to exceeding requirements of education and experience. As a member of the merger of InterClean Inc. and EnviroTech sales force these individuals must realize that they are part of the front line (initial contact). If sells (bring new business) are not made we can become stagnate....
Name
University of Phoenix
Career Development Plan IV – Compensation
One of the first things to do after the merger of InterClean Inc. and EnviroTech is to consider compensation. Job Analysis and Selection, Career Develop Plan and Team Appraisal are components that can be used in desiding employee compensation. In the article Delivering Incentive Compensation Plans That Work “A good plan will encourage cooperation among staff in different functional areas, and will prompt employees to work hard and be innovative without engaging in questionable ethical behavior.” (Bolten, R.) In the United States we are a country filled with fortune five hundred companies. In order to compete for the best talent competitive pay and in some instances extrinsic perks must be used. The merger of InterClean Inc. and EnviroTech wants to offer a competitive base pay rate. In addition to the competitive base pay rate we would also like to offer sales commission and health insurance.
New compensation plan for the new employment team
The compensation plan that we developed will be based on merit. According to Managing Human Resources obtaining an higher rate of compensation could possibly include these components i.e. Establish high standards of performance, Develop accurate performance appraisal systems, Train supervisors in the mechanics of performance appraisal and in the art of giving feedback to subordinates, Tie rewards closely to performance, and Use a wide range of increases; Make pay increases meaningful. Initially hiring individuals focused on meeting the minimal requirements. The way will determine compensation will be based on the minimal to exceeding requirements of education and experience. As a member of the merger of InterClean Inc. and EnviroTech sales force these individuals must realize that they are part of the front line (initial contact). If sells (bring new business) are not made we can become stagnate....