Slastyona Concectionary

Therefore, we think Deutsche Brauerei have to do something to ensure that Oleg does not leave to a competitor. According to old compensation package, he will receive EUR40,000 base salary and incentive payment which is calculated by 0.5% of the annual sales increase in Ukraine. Uncle Lukas proposed his base salary up to EUR48,500 and also increase incentive payment up to 0.6% of the annual sales increase. In our opinion, we agree with increasing in base salary up to EUR48,500 (21.25% increase), but we prefer to retain the incentive payment at 0.5% of the annual sales increase because we think that this plan(increasing incentive payment up to 0.6% of the annual sales increase) may fail to maximize shareholders’ wealth. The reason is that when subject to this formula, Oleg Pinchunck may tempt to accelerate sales as much as he can without concerning about cost such as extending more credit or spending more advertising to boost sales. We would like to recommend giving him more bonus if he can reduce the accounts receivables and inventories or using Economic Value Added to tie his compensation to the firm residual income instead of tie his compensation with sales growth.

One of the important aspects of business management is having a proper compensation system. Compensation ensures that the staff of the company obtains the results of their efforts. Compensation is a cost to the enterprise and, therefore, a proper remuneration model must demonstrate its ability to produce returns. Also, since compensation is what the employees get in exchange for their services, the type used must be one that will motivate the employees (Belcourt & McBey, 2015). Henderson printing company is a mid-level company. Therefore, it requires a very critical remuneration system that will help it to survive. This memo explores the compensation models that Henderson printing operates as well as suggests the necessary changes.

carefully planned out and considered, the total closure or failure of the organization could be at hand in the near future. In our modern age, employers know that salary is not the only factor that should be considered and that salary alone will not lead to better or more highly profitable workers alone. This is why compensation planning is important and why pay should have some connection between performance and compensation. This is why the human resources department should consider many monetary and non-monetary factors when considering how to properly compensate and motivate employees (Dessler, 2013).

After reviewing the Wilson Brothers Case Scenario, as Director of Human Resources for the organization, what conclusions can you draw with respect to the status of the company’s compensation strategies that are currently in place? What would you do to begin to address this situation? (3 Marks)

Production line workers are the employees who are usually doing their work by hand or in this day and age, running the machine or equipment to make the products. In this particular case, Canada Chemicals Corporation utilizes their production employees by producing industrial chemicals. These production worker’s jobs are a lot more complete then other production level workers employees as they usually have plenty of skill, knowledge and experience, and have high educational background. In order to reverse recent challenges with production and sales, I have composed a compensation package for these employees that will motivate them intrinsically, and focus on rewards that are extrinsic.

Market rate and equity policy needs to be formulated on the extent to which rewards are market driven rather than equitable. Should obtain and keep high quality staff and response to market pressures. Market considerations will derive levels of pay in the organization. Attraction policies should have career prospects, training and development, intrinsic interest of the work, flexible working arrangements, and work life balance. Retention policies should consist of Talent management (attraction and retention of quality employees). Talent management policies are to attract employees, to develop employees, rretain employees, and mmotivate employees. Talent management process is wwork life balance, lleadership qualities of line managers, rrecognition, cconducting talent audits. Assimilation policies is how existing employees should be assimilated into revised pay structure such as red circling (identifying and dealing with overpaid people) and Green circling (identifying and dealing with underpaid people). The three performance measurement practices to be compared in this presentation are written, confidential evaluation non-confidential evaluation, and oral evaluation.

The intent of this assignment is to develop a user-friendly tool that may be applied in the workplace to document Compensation processes and to guide a practitioner in completing the critical steps of each process. The purpose of this assignment is to assist in describing each component of a compensation management system, to develop a practitioner's guide for several of the key compensation management tasks covered in HR511 Total Rewards.

A well-articulated compensation philosophy drives organizational success by aligning pay and other rewards with business strategy. It provides the foundation for plan design and administration and anchors current and future plans to the company's culture and values (Kaplan, 2006, p.32). Recognizing and rewarding achievement is the cornerstone of the company A’s compensation philosophy. The mission of the company is to attract, select, place and promote all individuals based on their qualifications. The company believes that performance-based compensation helps attract, develop and retain talented professionals. In addition to base pay which based upon local market conditions and targeted to be above market, the company provides the following types of potential compensation to reward performance:

The direction for the case study analysis is supported by how the Scanlon Plan was executed at Engstrom and issues within the plan. The management’s leadership, ideas, and communication, along with the employee work setting will be included within the study. It will show that implementation of reward versus punishment, and how it can influence employee’s and their production. After a few years of implementation, the employee satisfaction went down. This led to changes in the plan and distrust within Engstrom. There can be several reasons and theories as to how the organizational behavior was disrupted.

This paper will examine setting the stage for strategic compensation and bases for pay. There are three main goals of compensation departments: internal consistency, market competitiveness, and recognition of individual contributions. Internally consistent compensation systems define the relative value of each job among all jobs within a company. (Martocchio, pg. 22, 2011) With this system companies want employees to be paid more based on their qualifications and responsibilities. They believe someone with less experience should be paid differently. To determine such evaluation companies use job analysis in order to provide job descriptions. The job evaluation is to determine pay according to a particular position. Market-competitive

The problem in the case is the poor corporate culture at Lazier Industries. Although the company is performing well, there is dissent amongst managers, VP’s and employees which is spreading rapidly. The underlying issue is Bob Lazier who has not done a good job demonstrating his vision for the company and implementing a corporate culture that complements this vision. Therefore, in this analysis it will be recommended that Bob implement not only performance metrics that measure employee satisfaction such as quarterly surveys but also implement rewards such as employee of the month in order to increase morale. Further, LI will look to invest in its employees in order to increase productivity in the long run.

Over the last 18 months, Paul, Director of HR, has faced many challenges within Plastec Company regarding high turnover rates, discrimination and much needed training, along with other various human resource concerns. The organizational culture has thus improved. In effort to keep that momentum, Paul is currently developing a strategic compensation plan for the company’s machine operators. This plan will help Paul to better understand how Plastec compares with other area employers in terms of wages and benefits, and develop

The success of companies in today's market place is a process that involves the way business practitioners manage its workers and the financial resources and structures. The management of employees, structures, and financial resources includes the development and establishment of effective compensation strategy. Actually, the lack of a sound compensation system has negative impacts on the company's ability to recruit and retain competent and best-qualified employees. Consequently, compensating workers represents an important practice of a company's human resource management (Martocchio, 2013). Wal-Mart is not only a cultural but also a business phenomenon that operates in a competitive environment that is very unique. The company has grown steadily since its inception to an extent that it has become the number one ranked firm on Fortune 500 for four consecutive years. The success of the company is attributed to sound business practices and strategies throughout the years. Currently, the firm has over 1.3 million employees in America, making it the largest employer in the United States. In addition to being the biggest corporation worldwide, Wal-Mart's ability to attract and retain qualified employees is based on its compensation strategy.

The final problem that we identified is the incoherence of inclusion of the cumulative merit in the calculation of salaries. In the case-study we can read that the system includes cumulative merit. However it is not clear how it is included in the compensation system. In one hand it is said that they measure performance over time at Vitality but in the other hand it is not accounted for rewarding employees.

The main issue in case study 4-7 focuses on what the Japan company Nippon Cash Machines and their recent US merger National Office Machines should do to their Japanese sales force who has always followed a salary based payment plan and lifetime job security because they are quickly loosing market share in a highly competitive market. Therefore, the main statement for the case is as follows: