Compensation

Compensation Victor Bonner Jr HRM/531 February 23, 2011 Dr. Don Wicker Compensation The companys of todays changing work environment must understand that the earnings of their workers is of vital importance for everyone involved. The stipend plan of our employment police squad will help foster a company destination that promotes squad and employee cooperation. The components of a total reward package atomic number 18 separate, group, and organizational incentives. These components will help to motivate employees to reach their superlative degree performance. The benefits that our compensation plan will have on employees ar to promote employee self value and worth, along with feelings of belonging, and job security. The compensation plan will also benefit the company with change magnitude productivity and a loyal workforce. The compensation plan for each squad employee will be establish on the individual equity of each employee. The individual equity of each employee is base on whether or not the pay is comparable to other employee doing the same job (Cascio, 2005). The team will have extra incentives provided so that each employee may believe they are destiny of the teams successes.

All incentives will be based on the productivity of the team. These incentives are in direct comparison to the team meeting the high company performance goals. rough incentives for team employees will be lump-sum bonuses or profit sharing. Incentives for the team allow each member to receive benefits from the productivity of the team (Cascio, 2005). All employees will receive health insurance, group manners insurance, and be vested in the pension fund after vanadium years. The pay system will work because this system allows employees to be part of a team and will receive apply and encouragement from one another. Also the incentives will allow individual(prenominal) growth and development for all employees through... If you want to get a full essay, order it on our website: Orderessay

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