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Hrm Benefits Restructure

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Submitted By keafta
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Compensation Plan
The goal of this compensation plan is to provide employees motivation on a day-to-day basis, but also to give them incentive to remain with the company; additionally, this compensation plan has been created with the goal of being as cost effective for the company as possible. Benefits play a crucial role in both attracting and retaining the best employees (Gillette, 2007, p29).

Salaries
Employees will continue to receive a base salary and receive commission for sales of products. Each employee will be given a sales goal based on their experience, past effectiveness, target customer base, etc. Recognizing that a new sales person is not going to sell as much or reach as high a level as a more experienced sales person is an important component. As a sales person develops their skills and builds their client base it is important to help them maintain their confidence and feel that they are achieving at a comparable rate. Therefore, employees will also receive a bonus for going past their quarterly goals. While this amount won’t be large, the goal with it is to provide encouragement and incentive for employees to continue to excel.

By offering the employees quarterly incentives for exceeding their goals it will encourage all employees to strive to surpass their goals. This is also beneficial for all employees, regardless of their level of sales experience. Because sales goals may not be set as high for a new employee as for a more experienced one a new employee may not receive as much commission as a more experienced employee. Encouraging employees to exceed their sales goals, whatever they may be, helps to encourage new employees to get out in the field. It also encourages employees to take advantage of mentoring programs and educational programs that are in place to help them learn more and become stronger sales people.

Benefits Packages

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