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Plan for implementing the new compensation system

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Reference no: EM131924561

Purpose

Continuing with the case study approach, you will be given an opportunity to demonstrate your ability to develop effective performance pay and indirect pay programs. You will also demonstrate your understanding of program implementation and evaluation to ensue effectiveness.

Case Study: Crayson Logistic Solutions Inc.

How to Proceed

You will continue to work with the case study from the previous assignment to complete this assignment. Continuing on from Assignment 2, outline what your performance pay and indirect pay programs will look like. Detail your plan for implementation of the new system and how to ensure it is effective at reaching your compensation strategy goals. Include the following:

1. Will you have a performance pay program and if yes, will it be based on individual. team or organizational performance or a combination of two or rnore? What will the plan look like in terms of measures, evaluation process, payouts and frequency of payouts? What behaviours are you trying to encourage with this program?

2. What will you include in your indirect pay program? Will the benefits be the same for each employee or will they be different? Why or why not? What behaviours are you trying to encourage through your choice of indirect pay?

3. What is your plan for implementing the new compensation system? How will you move employees on to the new plan, how will you communicate the plan to everyone, and how will everyone move through the structure as the progress in terms of service, performance and job duties?

4. How will you evaluate the effectiveness of the plan - i.e. how will you know it is achieving the desired result?

Format

Your report should be no more than 1500 words in length, 1.5 spaced using a 12-point font.

It is permissible to break your report down using the questions listed above as headings.

Attachment:- Case Study.rar

Verified Expert

The study revolves around the performance management and its concepts in order to establish an effective strategic pay plan program in the case study of Crayson Logistics Solutions Inc. This paper highlights its objectives, goals, question in issue as well as a thorough referenced literature review in order to conduct an appropriate case study. It helps in preparing an effective pay for performance plan with explanation for evaluation on these standards. Through the study, we can analyze critically the benefits of implementing this management strategy to achieve quality employee performance as well other aspects that help improve the drawbacks in the organizational structure.

Reference no: EM131924561

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