June 13, 2011
Career Development Plan Part IV: Compensation
The next footstep in the career development plan is to create a compensation plan that motivates, draws people, and retains talent. It is critical that the compensation plan aligns with the new strategic direction of the organization. “Compensation, which includes direct cash payments, indirect payments in the form of employee benefits, and incentives to motivate employees to strive for higher levels of productivity” (Cascio, 2008). We have designed the following compensation plan for the sales team at InterClean. This plan will allow InterClean to remain competitive because it is attractive, and addresses the needs of our employees. From this compensation plan, we hope it will create a sense of belonging; personal involvement in the development and the financial success for InterClean and to motivate the sales team to remain loyal, interested, and committed to InterClean. “Organizations that learn what satisfies employee will gain the edge in increasing customer satisfaction, retaining employees, competing for top talent and driving success” (More employees satisfied, 2008). Through this compensation plan, it will be based on benefits and incentives. Benefits are accessible to “full-time employees” which is defined as working a minimum of nine months of a twelve-month period or at least 1,040 hours (.53 Full-Time Equivalent [FTE]) per year on a continuing basis. Benefits refer to products, services, and/or entitlements made accessible to the sales team at InterClean. Benefits that are provided include retirement plans, health/life/long-term disability insurance, flexible benefits, annual and sick leave, etc. Incentives will be accessible to the sales team as commissions, bonuses, and awards. Awards are based on performance, organizational allegiance, above and beyond the average, and create a specific business environment. The key is the incentives in the compensation...