Career Development Plan IV-Compensation

HRM531

April 07, 2010

Dr. Steven Young

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Career Development Plan IV-Compensation

New compensation plan for your employment team. The new compensation plan of InterClean has been designed to motivate and encourage employees to take part in. The plan will fit the cost of the company and benefit the employees' cost of living. Included in the new plan is a competitive salary based on the job function, excellent benefits package, and rewarding incentives based on job performance. Other beneficial employee services will be offered for employees who qualify by the extent of their membership in the organization (Cascio, 2005). InterClean is taking the direction of becoming the leader in the sales market and rewarding its employees for the effort and commitment they put in to the company.

Daily salary IMG 0077

Graffiti Busters

Luigi Lo Cascio

InterClean has analyzed and taken into account the aspects of Equity. Equity is defined "as the fairness of pay systems, assessed in terms of the relative worth of jobs to the organization, competitive market rates outside the organization and the pay received by others doing the same job"(Cascio, 2005). InterClean has determined that each employees pay and benefits package are fair based on research of competitors compensation packages. It should be noted that InterClean pays each employee an average of a three percent difference than that of its competitors. Not only is the base pay more than our competitors, InterClean believes that the incentive and rewards package are far more superior to our competitors. InterClean's performance-based bonus plans should increase the company's productivity and reward employees who produce.

Pay system will work. According to Cascio (2005), pay systems are designed to attract, retain and motivate employees and...