...Career Development Plan Part IV-Compensation HRM/531 Abstract InterClean-EnviroTech is going to implement a compensation plan beneficial to the five sales team members as well as the organization goals to keep on the new sales team motivated. Part of the compensation plan is to offer the sales team the legal requirement that is Social Security, Medicare, Unemployment compensation, Workers compensation and Family and Medical Leave. The added on option would be to contribute a percentage of before taxes money toward a retirement with InterClean-EnviroTech matching that percentage, listing of health care providers that the sales team can have choose for themselves among other extra non-legal required benefits. Career Development Plan Part IV-Compensation InterClean-EnviroTech has hired five new sale persons for the new improved sales department. All the employees have been given a job title and a detail of what are their duties. With the new appraisal system in place and the training that is, going to help them enhance their sales skills the next direction InterClean-EnviroTech is taking is to offer the sales team a compensation plan that is geared towards their individual needs. As president and CEO David Spencer, Vice-President of Human Resources, Janet Durham, Vice-President of Marketing, Tom Jennings, and Chief of Compliance, Sam Waters, and I sit down to look over the proposal of the compensation plan that is to be approved by Human Resources (HR). Second...
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...Career Development Plan Part VI—Compensation HRM/531 Human Capital Management December 20, 2010 University of Phoenix 1 Career Development IV: Compensation Compensation Plan In the challenging and unpredictable economic market, companies are trying to redefine sales strategies, incentives, and pay compensation. Labor commands a high level of overhead for a company; therefore, pay policies, benefits, and compensations are critically important to be evaluated closely because it impacts the way of life for all employees. Developing a workable compensation plan enables both workers and employers to achieve mutual goals. When employers reach set goals, rewards and incentives set forth within the compensation plan are based upon the level of achievement. To succeed in uncertain times, companies must adapt to the needs of current and potential employees. To do this, a comprehensive compensation plan, which motivates its employees, keeps costs at a minimum, and provides equality for all will provide employers with an advantage. To achieve a successful sales compensation plan, the sales goals are defined clearly, realistically, and challenging to the employee. Tracking and measuring goals help to determine performance levels that impact an creating an employee’s pay structure. To do accomplish this, InterClean incorporated a scoring system that includes experiences, education, and other qualifications. The compensation plan for new sales team will consist of the...
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...Presentation Overview Introduction Syllabus of Compensation and Benefits and PoA Methodology, Reference Text and Pre-read Evaluation Pattern and List of Assignments What is HR and HRD ? HR functions HR Philosophy and Approach for an Organization Human Resource Management Summary Tuesday, 29 July 2014 Self Introduction B. Sc. (Physics) and Masters in Administrative Management from JBIMS, Mumbai University IT experience across 3 organizations since 1985 Exposure in Manufacturing and Banking domains Career shift from technical to HR to operations Responsible for key client relationships and HR Currently working as Director for Nucsoft Ltd. Tuesday, 29 July 2014 Self Introduction Adjunct Faculty, Project Guide and Mentor at SIMSR Guest Faculty at FCRIMS, CIMSR, SSCMR and UBS Visiting Faculty for Compensation and Benefits at RIMSR, OIM, ITM, RGCMS and GNIMS Visiting Faculty for Organization Theory Structure and Design at RGCMS Visiting Faculty for Managing Change through Organization Development at SIESCOMS and OSB Visiting Faculty for Management Functions and Organizational Behavior at SIESCOMS and ITM Tuesday, 29 July 2014 About Nucsoft Started operations in Mumbai in 1994 Focus on BFSI Domain 350+ team and ISO 9001:2008 certified company Onsite/Offsite/Onshore/Offshore Software development and Production support Resourcing, Projects, Products and Solutions Major clients – Citi, HDFC Bank, Barclays...
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...4= Agree and 5= Strongly Agree. (Please tick one per statement). Employee Empowerment | | | | | | i. Adequate working equipment | 5 | 4 | 3 | 2 | 1 | ii. Readily available loan facilities | | | | | | iii. Opportunities for Professional Growth | | | | | | iv. Well defined goals and objectives | | | | | | v. Well defined Job Descriptions | | | | | | vi. Guaranteed Job Security | | | | | | vii. Stress Management Programs | | | | | | 4. Rate the extent to which each of the statements in the matrix represented below influences employee retention in your organization. Use a scale of 5-1 where 1= Strongly Disagree, 2= Disagree, 3= Neutral, 4= Agree and 5= Strongly Agree. (Please tick one per statement). Employee Training and career development (capacity building) | 5 | 4 | 3 | 2 | 1 | i. Employees enjoy training and career development programs. | | | | | | ii. Employee training and career development benefits are in place. | | | | | | iii. Employees are satisfied with the training and career development offered to them by the organization. | | | | | | iv. Employee training and career development programs offered are linked to each employee’s career needs. | | | | | | v....
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...Career Development IV Compensation Compensation Plan Sherry Martin HRM/531 In today’s challenging and unpredictable economic market, companies are trying to redefine sales strategies, incentives, and pay compensation. Labor commands a high level of overhead for a company; therefore, pay policies, benefits, and compensations are critically important to be evaluated closely because it affects the livelihood and lifestyle of all workers. Ideally, an effective and sound sale compensation plan enables the company directly tie sales activities toward the expected outcome, and these outcomes should be rewarded with incentives and compensation base on the achievement level. Employers that want to succeed in this increasingly competitive environment must have a well-designed compensation plan that motivates employees, controls compensation costs, and ensures equity. The best compensation plans mirror the culture of the employer. To achieved a successful sales compensation plan, the sales goal has to be defined clearly, realistically, and challenging. Performances have to be track closely and measured toward goals. To determine a salary, a pay structure has to be created that will put employees in a grading system which includes experiences, education, and other qualifications. Compensation plan for new sales team department comprise off: • Sales Bonuses-based incentives • For short term incentives: Periodic bonuses (Quarterly) when sales quota was reached. 40 % Percentage off...
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...Career Development Plan IV- Compensation HRM 09-20-2020 William Young Career Development Plan IV- Compensation The most important thing outside of training to an employee is compensation. Having the appropriate compensation package is critical to the productivity of any sales team member. With the new changes being made throughout InterClean and creating a business that will be prosperous and around for a long period of time to bring the resources need to the industry, we have tried to create a “power house” sales team that can deliver on all levels of the business. As a company we not only have to deliver in choosing the right talent, providing appropriate training, but we must deliver compensation package that will motivate as well as retain the necessary talent. Over the past 30 years employee benefits have experienced a tremendous upswing in regulations and a downturn in participation and benefits. This is not a coincidence. Heaping well-intended rules on top of each other has produced a cacophony of regulatory nonsense. Even worse, endless regulations have added to employer costs, uncertainty and risks, draining the resources employers would otherwise have devoted to benefits (Morse). In order to compete in today’s market as well as retain talent and it is important that Interclean creates a benefits package that is compatible to today’s industry but in financially sane and manageable to align with the need of Interclean and its stack holders. When creating...
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...Influences and restricts a firm’s activities, objectives, strategies and personnel actions. It is influenced by : i) Government requirements – this is represented by laws and regulations as they affect the management human resources. ii) Union expectations – as manifested by leadership members. Restricts and influences firm operations. iii) Economic conditions – changing always. Hiring and payment of employees is itself a reflection of how economic conditions influence companies’ operations. iv) Labour market conditions always changing availability of skilled manpower and expectations of people. Definition Human Resources Management – Is the set of activities that are intended to influence the effectiveness of human resources and organizations. HRM Activities a) Human Resource Planning b) Employment Planning c) Equal opportunity employment d) Job design and analysis e) Recruitment f) Selection g) Career development h) Performance development (management) i) Compensation j) Health and Safety k) Evaluation of Personnel HANDOUT 1 Human Resources Planning - This is a future and Action oriented process and looks at each individual as unique. - It is a process by which management determines how the organization should move from its current (H.R.) position to a new desired position. - HRD integrates internal and external environments and focuses personnel decisions towards human...
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...Job Analysis Question 1 General compensation and compensation decisions providing an overall review of the entire process created from job analysis to compensation. Answer: Job: “Job is related group activities done by different individuals for completion of certain tasks.” Entire productivity of any business is dependent upon the employees of that organization. To hire employees is an important matter for the strategic management. Teams and work force if loyal with their jobs can prove warm blood for their company. So human resource management department of a company is conscious for the selection of his employees so the job analysis in HRM section includes following stages i. Job description ii. Person Specification iii. Managing Applications iv. Selection v. Performance Appraisal vi. Training and Development vii. Compensation management 1. Job Analyzing process Job analysis is the point where we understand all the position of job and all the requirements related to it. At least three methods of job analysis information need to be completed for best team selection. These may include Questionnaire Observation interviews a. Job Description Following points need to consider while doing analysis of job • List out duties and responsibilities of the position in detail • Scope of job • Job environment • Extent of responsibility, authority and accountability required to complete the assigned...
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...Career Development Plan Summary University of Phoenix Today’s economy demands that employers face the challenges that are associated with the economy, internal budget pressures, and a highly competitive business environment. Kudler Fine Foods is owned and operated by Kathy Kudler. She currently manages the business by herself which includes staffing, ordering of merchandise, marketing, and personalized customer service. With visions of growing the business, Kathy is stretched to the extreme and needs assistance with the leadership roles necessary to successfully operate and mature the business. Even though Kathy has managers and assistant managers in each store, she needs a team that can not only relieve her of some of her duties, but also assist Kathy in creating a roadmap for the envisioned future state of Kudler Fine Foods. Business Development and Excellence The proposed reorganization in the chart below will give Kudler Fine Foods the leverage and capabilities to offer not only additional products but a full range of new catering services. This proposal strives to reorganize our current staff to best draw from their talents as well as evaluate new employees for the best appointment. Proper department organization and placement of employees is critical to the success of this new endeavor. A new department has been created within the organization and is identified as Business Excellence and Development. The department will consist of five new positions to include a purchasing...
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...Abstract I have chosen two career opportunities in the financial industry as a Training Coordinator and a Senior Trainer. I feel that both of these opportunities are attainable with my professional background in banking and finance and my educational background with my Master’s in Adult Education and Training. Training Coordinator I. Job Description a. Report to the Managing Director for Consumer Lending Operations Training. Under minimal supervision, provide administrative and training program coordination for assigned Training Skill Area(s) for Operations, products and sale. Contribute and work on additional projects as requested within Consumer Lending to help in the coordination of efforts to support cross departmental efforts II. Experience Required b. Education: High school diploma or equivalent. 5 plus years of experience in training and development or other relevant experience. III. Skills Required c. Sufficient knowledge and understanding to lend support to Training Skill Area(s) such as credit and compliance; leadership and communications; operations; PC applications; products, sales, and relationship management skills; service skills. Advanced knowledge of the Bank's organization structure. Knowledge of basic business and banking terminology and concepts. Computer knowledge and skills: Advanced knowledge and technical expertise across all end-user software applications. Advanced knowledge and technical expertise in the Saba's Learning...
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...Human Resource practices and their impact on performance outcomes. In Pakistan, Human Resource Management is in developing stage & most of the companies are trying to adopt the best practices of it. Research Objective: The objective of this report is to highlight the comparative research of Human Reources factors in Small and Medium Enterprises (SMEs) in Pakistan. Research Question: In view of the above discussion the following research question have been constructed: Q1. To what extend do the firm’s apply Human Resource Practices in SMEs. This research question examines the comparative analysis of adoption of HR practices in SMEs. Conclusion: SMEs played a vital and significant role in the development of the country’s economy. Most developed countries provide facilities to develop the SMEs, which assist the country’s economy. Whereas, Pakistan’s economy is represent about 90 percent of all types of SMEs, which provide 78% of non-agricultural labor. This SME sector gave 90% contribution to the GDP and out of which 25% from export revenue. Through SMEs we strengthen and bought into account that the human resource management practices helps the overall...
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...refers to the favourableness of job environment that are excellent for people as well for the economic health of the organization and also their attitudes towards the work environment, skills and knowledge acquired, their inter-relationship with their colleagues, subordinates and supervisor, their organizational commitment, job satisfaction, job motivation, their socio-economic status, their value patterns, professionalism, job involvement, experience and discipline. Quality of work life is a process in which organizations recognize their responsibility to develop job and working conditions that are excellent for the employee and organization. Quality of work life refers to the level of happiness or dissatisfaction with one’s career. Those who enjoy their careers are said to...
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...MAHATMA GANDHI UNIVERSITY KOTTAYAM REGULATION 1. COURSE OBJECTIVES The MG University MBA program is designed with the following objectives: 1. To develop young men and women in to professional managers to manage all sectors of the organized economic activity. 2. To equip the youngsters with conceptual and interpersonal skills and social purpose for managerial decision-making and its execution in real situations. 3. To develop and encourage the entrepreneurial capabilities of young generation to make them effective change agents. 4. To meet the demand for trained and professional people in the country at the top level management of business and industrial organizations in the light of the new economic and industrial policy of the country. 2. COURSE DURATION The MBA (Full Time) programme of Mahatma Gandhi University shall be spread in two years duration with 4 Semesters. Each semester shall comprise of a minimum of 16 instructional weeks of 5 days each of 5 hours a day (total contact hours 400). Continuous Internal Evaluation during the course period and University examination at the end of each semester shall be conducted. There shall be a semester break of 15 days each in addition to the usual Onam, Christmas and summer holidays. 3. ELIGIBILTY FOR ADMISSION 1. A pass in any Bachelor’s Degree Examination of Mahatma Gandhi University or an equivalent degree of any other universities duly recognized by M.G.University with not less than 50% marks in the aggregate for all parts of...
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...Human Resource Management (MGT501) VU MGT - 501 T his subject/course is designed to teach the basic principles of Human Resource Management (HRM) to diverse audience/students, including those who are studying this as a supporting subject for their bachelor degree program. This course is designed to provide you the foundations of HRM whether you intend to work in HRM or not, most of these elements will affect you at some point in your career. Either you will be working with some organizations or having people working for you, in both cases you will be dealing with people. To be understandable and lively means that we need to communicate you. We start every chapter with learning objectives. The most important thing you will get out of this course are the basic skills required to succeed in today’s environment which are, you must be able to communicate, think creatively, plan effectively and deal with people. Copyright © Virtual University of Pakistan 1 Human Resource Management (MGT501) INTRODUCTION TO HRM After studying this chapter, students should be able to understand the following: Describe HRM? Explain why are we concerned about HRM? Discuss Road-map of HRM VU Lesson 1 LESSON OVERVIEW This chapter introduces the students with the basic concepts of the human resource management (HRM). During the lecture, we will be discussing the three main things, i.e. the introduction to HRM, the importance of HRM, and a brief discussion of the Resource topics...
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...Job Satisfaction and Self-Actualization Achieving Quality of Work Life Communicating HRM Policies to All Employees Maintaining Ethical Policies and Socially Responsible Behavior Managing Change Managing Increased Urgency and Faster Cycle Time Who Performs HRM Activities Outsourcing The Interaction of Operating and HR Managers HRM's Place in Management HR Department Operations HRM Strategy Clarifying Meaningful HRM Objectives HRM Policy HRM Procedures Organization of an HR Department Plan of the Book Summary Key Terms Questions for Review and Discussion Notes The Human Resource Manager and Managing Multiple Responsibilities Careers in HRM A Strategic Management Approach to Human Resource Management A Model to Organize HRM How to Take a Diagnosic Approach to HRM External Environmental Influences Government Law and Regulations The Union Economic Conditions p. iv p. 1 p. 2 p. 5 p. 7 p. 9 p. 10 p. 11 p. 11 p. 12 p. 12 p. 12 p. 12 p. 13 p. 13 p. 13 p. 14 p. 14 p. 15 p. 16 p. 16 p. 16 p. 17 p. 19 p. 19 p. 19 p. 21 p. 22 p. 22 p. 23 p. 23 p. 25 p. 28 p. 30 p. 33 p. 34 p. 35 p. 35 p. 36 p. 36 Competitiveness Composition and Diversity of the Labor Force Geographic Location of the Organization Internal Environmental Influences Strategy Goals Organization Culture Nature of the Task Work Group Leader's Style and Experience Strategic HRM: An Important Key to Success Strategic Challenges Facing HRM Technology Diversity: Building a Competitive Workforce Caliber of the...
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