Career Development Plan Part IV

Career Development Plan Part IV - 1 Compensation Career...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
1 Compensation Career Development Plan Part IV – Compensation Holly L. Seppala 11/29/2010 HRM531 James Scholes
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
2 Compensation InterClean Incorporated understands the importance of compensating all employees fairly and in a timely matter and this is why InterClean can retain top employees in the sanitation product industry. To compensate an employee means to provide him or her with a financial or nonfinancial reward for the work or service that he or she has provided. Within an organization, compensation refers to the financial rewards such as direct payments in the form of salaries or indirect payments such as employee benefits, and nonfinancial rewards that include everything in a work environment that enhances a worker’s sense of self-respect and esteem by others (Cascio, 2006). In previous reports I have discussed the sales team job analysis and the employees chosen to represent my sales team, the training and mentoring programs used to train these new employees, and how I, as the sales manager can help manage my employee’s careers. In this report I will be explaining the compensation plan I have developed for my employees, why the pay system will work, how the rewards I have chosen will motivate my employees, and how these rewards will benefit both the individual and the organization. I will begin by discussing the compensation plan I have developed for my sales team. The job descriptions of positions held at InterClean, especially in the sales department, do not fit the criteria of benchmark jobs typically found in the sanitation industry. Therefore, I had to implement a competency-based pay system so be sure that all of employees were paid fairly
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 01/29/2011 for the course HRM 531 taught by Professor Hrm during the Fall '09 term at University of Phoenix.

Page1 / 6

Career Development Plan Part IV - 1 Compensation Career...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online