Interclean New Compensation Plan for the Employment Essay

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Interclean

New compensation plan for the employment team

As a result of the changes which have recently been implemented within InterClean, a new need arises in the necessity to align the compensation plan with the new organizational features. In other words, the changes implemented would only succeed if they are adequately supported by the staff members and a means of attaining employee support in times of organizational change is that of readdressing compensation issues (Lamm, Gordon and Purser, 2010).

Given this situation, the current endeavor proposes a new compensation plan based on the following:

A guaranteed minimum wage established for all of the team members

Additional wage increases based on specific employee features, such as experience, loyalty to the firm or level of education acquired

Premiums and bonuses based on performance

Non-financial compensations, such as flexible working schedules or the offering of training programs.

The above presented pay system stands increased chances of supporting organizational goals due to a series of benefits. For instance, the minimum wage guaranteed ensures that the staff members do not concern themselves over not receiving the compensation for their work. The fact that the minimum wage is the same for all team members reduces the risk of internal frictions based on different compensation.

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This element constitutes a component of the total rewards package which would ensure higher levels of employee motivation based on the principles of equal employment rights and non-discriminatory practices.

Then, the differential wages based on the professional characteristics of the individual ensures high levels of equity and show the staff members that the company values their expertise as well as their input. The more the staff members are qualified, the higher their wages would be. Additionally, such a scheme would also work as a motivator of improved performances, with the objective of gaining additional financial rewards.

The premiums and bonuses would necessarily be granted based on the individual performance of the team members. This practice would ensure that the employees are motivated to increase their performances and support the organization in reaching its objective, with the simple intent of gaining financial advantages.….....

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Latest APA Format (6th edition)

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"Interclean New Compensation Plan For The Employment" (2011, January 24) Retrieved June 29, 2024, from
https://www.aceyourpaper.com/essays/interclean-new-compensation-plan-employment-49519

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"Interclean New Compensation Plan For The Employment" 24 January 2011. Web.29 June. 2024. <
https://www.aceyourpaper.com/essays/interclean-new-compensation-plan-employment-49519>

Latest Chicago Format (16th edition)

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"Interclean New Compensation Plan For The Employment", 24 January 2011, Accessed.29 June. 2024,
https://www.aceyourpaper.com/essays/interclean-new-compensation-plan-employment-49519
   

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