Running head: Compensation
Career Development Plan- Compensation
University of Phoenix
While changes at Enviro-clean are based upon the development of a new strategic direction a new compensation plan needs to be developed to suit our team. Several influential factors play a role in the developmental process that must be addressed. The strategic plan must not only satisfy the company but it must satisfy the employee as well. The plan must address organizational rewards systems, fair compensation, employee motivation, and benefits.
“A employee reward system is anything that an employee values and desires that an employer is able and willing to offer in ...view middle of the document...
In addition to salary, competitive benefits packages should be introduced to each of the employees that offer health insurance, dental, vacation and sick time, maternity leave, and 401(K). Training and tuition reimbursement is also an excellent tool to help the company achieve that competitive edge on benefits packages.
This package is prone for success because the benefits are highly attractive. Competitive base salaries as well as commission, offer the employees a steady and consistent income in addition to performance based financial income. This method benefits the company because employees feel a sense of security and it promotes better performance due to the fact that commission can be achieved based on individual productivity. The competitive benefits packages can sometimes be a sole motivator depending on the personal circumstances of employees. Tuition reimbursement provides employees the opportunity to further their education with out the stress of finance. Employees enjoy being challenged, therefore the more training and education an employee can achieve the more satisfied and productive he or she will be in his or her employment. Most people employed or not, are in search for benefit packages that will support the health necessities of one’s family, and for that reason alone a job that offers health insurance, dental, sick time, and maternity leave will be a satisfying factor in an employee’s personal job perspective. Lastly the 401k package will allow employees to feel comfortable with their future. All of the prior listed benefits will assist the financial compensation package because together these packages provide three things: Satisfaction, Future Security, and stability.
Another consideration that should be taken into account is job titling. Job descriptions should match the titles that are given to employees as it matches the work that he or she does. Employees become...