Kudler Fine Foods is committed to designing and implementing an organizational reward system that will promote and incentivize the goals of the organization. Human Resources will examine the challenges in planning and administering a pay system which includes understanding economic and legal factors that determine pay levels, align compensation strategy to general business strategy, develop systematic pay structures, and address key policy issues (Casio, 2006). Kudler Fine Foods organization rewards system consists of three components including direct compensation, benefits, and employee assistance programs.
Kudler Fine Foods pay system strategy involves developing a systematic process to assign a monetary value to each job in the organization a base rate and a procedure for increasing the base rate based on merit and inflation (Casio, 2006). Updated job descriptions, a job evaluation method (one that will rate jobs in term of worth) and pay surveys will help create the organization pay structure. Below illustrates the salary grades and wage ranges based on a point-factor method of job evaluation commonly used in the United States (Casio, 2006).
Pay Raises or Incentives
The organization’s incentive system objectives are to increase each employee level of job performance. All employees will eligible for a lump sum pay incentive annually. Employees’ individual incentive plans will reward individual who perform above standard. The lump sum pay incentive will be based on the company performance. Spot bonuses are also offered to employees by manager discretion. Spot bonuses are awarded for exceptional performance demonstrated by employee. Spot bonuses will offered in two increment of $50 or $100.
Kudler Fine Foods employee benefits are designed to offer each individual personalized and alternative benefit solutions, which includes health and security, paid time off and employee services. All employees will be...
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