Reference no: EM133159246
Tip Top Industries Ltd. a family-owned business is a manufacturing company specializing in the production and distribution of female hats for 20 years. They have enjoyed increased profits over 10 of the last 15 years until recently when new entrants started to appear in the market. Also, employees in both the Finance and Commercial Dept have been complaining about the disparate in compensation among their peers both inside Top Top Industries Ltd. and that of the competitors.
Tip Top Industries decided that they needed to do something urgently to limit the staff turnover they have started to experience. They decided to employ a new Financial Controller Mr. Wright and a Commercial Director Mr. Myway who is in charge of Sales & Marketing. Since the start of the Financial year, both individuals have been at loggerheads as to the best compensation package to offer both the Finance and the Sales team. The Finance Dept. consists of the newly appointed Financial Controller, a Receivables Manager, a Payables Manager, a General Ledger Manager, 3 Clerks that supports the Receivables and Payables.
The Commercial Team consists of the newly appointed Commercial Director, a Marketing Manager, a Sales Manager, 6 Sales Representatives, and a Marketing Officer The grandmother of Tip Top Industries Ltd Mrs. Watt has been performing the duties of the HR Manager and she has no formal training in Human Resources. Her daughter Deborah Watt informed her that they need to conduct a Job Analysis, prepare Job Description for the various roles, develop a Job Evaluation tool, and design a basic salary survey. Mrs. Watt decided to hire a team of HR Consultants specializing in Compensation to complete the recommendations made by Deborah Watt.
- Recommend and justify the payment of an Individual Incentive or Team-Based incentive plan for Tip Top Sales representatives
Please provide me with references