need help for this week

Management
Tutor: None Selected Time limit: 1 Day

What steps can a company take to align its compensation system with its general business strategy

Jul 12th, 2015

Thank you for the opportunity to help you with your question!

Quality compensation programs are required for a profitable business.

Steps that a company can take to align its compensation system with general business strategy are:

1. Incentive program for higher output

2. Higher wages than competitors.

3. Commission based rewards

4. Greater perquisites depending upon ones performance.

A premier compensation plan lets employees know they are valued. Consequently, most will work hard to achieve the company's goals - this benefits them, and the company, which in turn benefits the employees even more, and the company, and so on. 


Please let me know if you need any clarification. I'm always happy to answer your questions.
Jul 12th, 2015

Did you know? You can earn $20 for every friend you invite to Studypool!
Click here to
Refer a Friend
...
Jul 12th, 2015
...
Jul 12th, 2015
Dec 9th, 2016
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer