RWT1 Compensation Strategies Paper
1
Compensation strategies
RWT1
Jason Hagelstrom
66789
07/05/13
Jeff Willard
2
Table of contents:
Executive summary…………….………………………………………………………………………………….3
Introduction…………………….……………………………………………………………………………………..4
Research findings…………………………………………………………………………………………………..4
Broadbanding.……………………………………………………………………………………………4
Stock option…..…………………………………………………………………………………………..5
Team based……..………………….…………………………………………………………………….6
Recommendations………………………………….……………………………………………………………..8
Conclusion……………………………………………………………………………………………………………..9
References…………………………………………………………………………………………………………….10
3
Executive Summary:
The company has asked for a review of three different types of compensation strategies that would work well for a manufacturing organization …show more content…
The company will have to do a lot of beforehand work to make sure that
8 the culture of the organization is team oriented. I believe that this help with production, because the company will become transparent, each employee will know there goals and what their bonuses will be.
Recommendation:
1. I am recommending first that we start a plan to identify what type of culture we have at our company. This is something that is needed to know when dealing with each of the compensations. With broad banding we would need to feel out if our employees are looking for ways to improve their resume as well as their pay. The same is true for team based; the companies that have put team-based compensation into effect have made sure that they did the work on their culture beforehand.
2. My second recommendation is we instill employee stock option into place. This is a great way to make sure employees stay with the company or it makes it harder for them to leave.
According to Watson and Blanchard, employee stock option or stock equity is not recorded on the company’s income sheet. I think most employees would love to be able add this to their
Compensation strategies
RWT1
Jason Hagelstrom
66789
07/05/13
Jeff Willard
2
Table of contents:
Executive summary…………….………………………………………………………………………………….3
Introduction…………………….……………………………………………………………………………………..4
Research findings…………………………………………………………………………………………………..4
Broadbanding.……………………………………………………………………………………………4
Stock option…..…………………………………………………………………………………………..5
Team based……..………………….…………………………………………………………………….6
Recommendations………………………………….……………………………………………………………..8
Conclusion……………………………………………………………………………………………………………..9
References…………………………………………………………………………………………………………….10
3
Executive Summary:
The company has asked for a review of three different types of compensation strategies that would work well for a manufacturing organization …show more content…
The company will have to do a lot of beforehand work to make sure that
8 the culture of the organization is team oriented. I believe that this help with production, because the company will become transparent, each employee will know there goals and what their bonuses will be.
Recommendation:
1. I am recommending first that we start a plan to identify what type of culture we have at our company. This is something that is needed to know when dealing with each of the compensations. With broad banding we would need to feel out if our employees are looking for ways to improve their resume as well as their pay. The same is true for team based; the companies that have put team-based compensation into effect have made sure that they did the work on their culture beforehand.
2. My second recommendation is we instill employee stock option into place. This is a great way to make sure employees stay with the company or it makes it harder for them to leave.
According to Watson and Blanchard, employee stock option or stock equity is not recorded on the company’s income sheet. I think most employees would love to be able add this to their