Career Development Plan IV

Career Development Plan IV - Compensation Plan IV Hector...

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Compensation Plan IV Hector Sierra University of Phoenix
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MEMO To: Mrs. Rick From: Hector Sierra Compensation Plan Cascio (2005) states “Compensation, which includes direct cash payments, indirect payments in the form of employee benefits, and incentives to motivate employees to strive for higher levels of productivity”. InterClean must consider a reasonable salary and benefits plan before implementing a compensation plan for the new sales team. In order for InterClean to develop the new pay system, InterClean will need to be objective, and assesss fairness and equity within the company. Equity will be assessed in three and areas; internal equity, external equity and individual equity. The assessments will help determine a fair and reasonable salary for the new sales team members. The development of the pay system at InterClean will be based on the actual value of each position. Cascio (2005) states “They all have the same final objective: ranking jobs in terms of their relative worth to the organization so that an equitable rate of pay can be determined for each job”. This statement supports the theory of job value that InterClean will use to determine a suitable pay structure. InterClean’s compensation plan will follow the merit-pay system. This pay system has
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This note was uploaded on 04/23/2010 for the course BUSINESS 551 taught by Professor Charnell during the Spring '10 term at University of Phoenix.

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Career Development Plan IV - Compensation Plan IV Hector...

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