Fastcat Phase I
FastCat
Compensation Plan
Phase I
February 10, 2013
Presented By:
The
Compensation
Group
Table of Contents
Executive Summary 2
Recommended Compensation Plan Objectives 3
Strategy for Internal Alignment 4
Job-based Plan 5
Compensable Factors 6
Internal Structure 11
Picture of Internal Structure 12
Execution/Manual 21
Rationale/Evaluation of Recommendations 22
Executive Summary FastCat's mission is to exceed customer's expectations of value, dependability and reliability by focusing on innovation and teamwork; to help our customers succeed; to support and share with our employees; and to respect and recognize individuals and their performance contributions. The following compensation plan is being proposed to support the mission, as well as its business strategy to expand product offerings to current users; to grow its new customer base to increase revenue; to expand its reach into new geographic markets; and to enhance service contracts and training programs offered to customers. By aligning the pay structure to fit the organization's conditions and objectives, the compensation plan will to lead to competitive advantage for the organization and a sense of fair treatment for all employees. This plan focuses on the following key compensation objectives:
to attract, motivate, reward and retain the best talent
to commit to cost containment through a focus on efficiency
to encourage collaboration in order to improve customer satisfaction by meeting customer needs, providing timely delivery, and promoting exemplary customer service
to comply with all laws and regulations in regard to pay equity and discrimination on the basis of gender, race, religion or national origin The compensation plan involves a loosely coupled, egalitarian structure which allows for greater flexibility and cross-training of staff, while promoting teamwork, equal and fair treatment, and cooperation between departments. The
Compensation Plan
Phase I
February 10, 2013
Presented By:
The
Compensation
Group
Table of Contents
Executive Summary 2
Recommended Compensation Plan Objectives 3
Strategy for Internal Alignment 4
Job-based Plan 5
Compensable Factors 6
Internal Structure 11
Picture of Internal Structure 12
Execution/Manual 21
Rationale/Evaluation of Recommendations 22
Executive Summary FastCat's mission is to exceed customer's expectations of value, dependability and reliability by focusing on innovation and teamwork; to help our customers succeed; to support and share with our employees; and to respect and recognize individuals and their performance contributions. The following compensation plan is being proposed to support the mission, as well as its business strategy to expand product offerings to current users; to grow its new customer base to increase revenue; to expand its reach into new geographic markets; and to enhance service contracts and training programs offered to customers. By aligning the pay structure to fit the organization's conditions and objectives, the compensation plan will to lead to competitive advantage for the organization and a sense of fair treatment for all employees. This plan focuses on the following key compensation objectives:
to attract, motivate, reward and retain the best talent
to commit to cost containment through a focus on efficiency
to encourage collaboration in order to improve customer satisfaction by meeting customer needs, providing timely delivery, and promoting exemplary customer service
to comply with all laws and regulations in regard to pay equity and discrimination on the basis of gender, race, religion or national origin The compensation plan involves a loosely coupled, egalitarian structure which allows for greater flexibility and cross-training of staff, while promoting teamwork, equal and fair treatment, and cooperation between departments. The