Reference no: EM132960787

Compensation Management Assignment

Paradise Products INC is a company that is engaged in the distribution of exotic Caribbean Cuisine of high quality to European markets. Quality and reliability are two critical success factors. Paradise Products has been using its website as it principal point of contact for its customers. Paradise Products INC recently won a substantial contract to supply a major chain in Europe, Marks and Spencers due to the growing popularity of Caribbean food among the population. To successfully fulfill this contract, Paradise Products INC is required pay greater attention to its productivity and quality standards to meet the price and response time requirements. You, as Marketing Manager, are expected to work closely with the Human Resource Managers of the four main suppliers to develop a reward system that will enable greater reliability with respect to response time and assure quality and compliance with HACCAP[1] requirements.

Outline the factors that Paradise Products INC must consider in the design of such a reward system to ensure its success, i.e., to ensure that the programme is beneficial to both the employees and the supplier company and Develop a draft proposal for consideration by the Board and Management of each company. In your proposal you should indicate: o Whether and why the Plan should be group based or individual based o Whether incentive pay should fully replace traditional pay and the reasons for this recommendation o The criteria by which performance will be judged and how will this be communicated and disseminated to staff and their supervisors o The administration of the reward system, i.e. whether short or long term and whether the pay-outs should match the production cycle and the required delivery schedules