Reduction of employee turnover rates and absenteeism

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Reduction of employee turnover rates and absenteeism.
Retention of top talents.Increase in customer satisfaction.Increase in sales and profit of the organization.Increase in customer base.Enhancement of brand image and organization’s reputation.Increase in skills and the career growth of the employees which leads to employee’ssatisfaction and attainment of organizational goals.PAY FOR KNOWLEDGE COMPENSATION STRATEGYThis is a strategy whereby employees are paid based on their capabilities. This strategy is grouped into two types, but for Zenith Incorporated, we will be using the Skill-based pay.Skill-based pay is a type of pay whereby employees are paid based on their skills and capabilities rather than their job responsibilities. We recommend that Zenith Incorporated use this compensation strategy because of the decrease in employee morale, this will be applied to the following employees: Systems Development, Systems Installation and Systems Maintenance. Zenith should compensate these employees based on the new skills and knowledge acquired, which will encourage the employees to enhance their skills and thereby increase in productivity of the organization. The pay can be formulated where an individual atthe entry level have the basic knowledge needed for the job (Level 1), level 2 will be dependent on the employee performing higher tasks than that of the entry level, which after, the employee will proceed to the final level, where the employee is fully trained and have the full skills and competency needed to perform all the job functions. A sample can be: System DevelopmentSystem installation System maintenanceLevel 3Expert in scheduling, programming and recording.$1400Expert in plan hardware layout, analyse system and modification to systems.$1400Expert in trouble shooting and system maintance and hardware changes.$1400Level 2Ability to perform recording, programming and system scheduling.$ 1,200Ability to install systems and software application.$1200Ability to fix systemproblems and maintain system operations$1200Level 1Basic knowledge of computer applications. $1000Basic knowledge of system installation and training.$1000Basic knowledge of system installation.$1000Competency cluster#1 #2#3
Based on the pay scale for the job using pay scale Canada at the first level the basic salary will apply which after once acquiring the required skill will lead to 20% increase in the salaryof the employee.

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