Description
Your team is consulting with a local manufacturing company that has 1,200 employees and is the third largest employer in the area. When averaging all of the manufacturing employees' salary divided by the market midpoint, the organization has a 0.90 compa ratio, meaning that on average employees earn 90% of the market rate.
Your firm has been asked to propose approaches for management to consider:
- adding a team incentive plan such as profit sharing or individual incentive plan based on individual performance
- a combination of base and incentive pay
Using the current sales and profit trend, the company has the ability to increase compensation spending by 4% annually for the next three years.
Create a 3-4 slide Microsoft® PowerPoint®, Prezi, or Microsoft® Sway® presentation in which you use at least one cited source, consistent with APA guidelines, to address the situation and:
The presentation should include graphics and speaker notes on each slide that script what would be said if this information were to be presented in person.
Explanation & Answer
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Team Recognizing
Performance
INSTITUTION AFFILIATION
DATE
Team Incentive Planning
➢ Team incentive plan is used to encourage exceptional levels of
professional achievement.
➢ Profit sharing is an incentive plan in which an employer pays the
employees a percent of total profits.
➢ Gain sharing is an incentive where teams are rewarded for non...
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