Section O
Implementation of Compensation Strategy It can be said that compensation is the “glue” that binds the employee and the employer together and in the organized sector, this is further codified in the form of a contract or a mutually binding legal document that spells out exactly how much should be paid to the employee and the components of the compensation package. Since, this article is intended to be an introduction to compensation management, the art and science of arriving at the right compensation makes all the difference between a satisfied employee and a disgruntled employee. Now that we have come up with a compensation strategy that we believe will be successful in years to come at Duplox, the next step is to implement the new compensation system as well as develop how we are going to continue the on going management of the new system. This involves some projections for the budget for the upcoming year as well as explaining and training employees on how to use the new system as well as their roles in the maintaining of the new system. First, upon exception of the compensation system that we have developed, a meeting will be held, first with the managers and directors. This meeting would be presented by our team of consultants explaining the changes that will be taking place. This would be more of a informative meeting giving the senior management a time to ask questions and understand their roles in the new system as well as understand how explain these changes to other employees. The management staff will be in the position to show the rest of the employees these changes as well as spear head the training process for the rest of the staff. Explaining the change to all of the employees will be the most difficult area to address in this implementation. Many people can agree that in most organizations it human nature to resist change.