Reference no: EM132709044

Question: You are a manager of a company. Your company is known for quality, and the relationships of your long-time employee team with customers are the strength of your client service strategy.

You have decided that the operating environment challenging to support your previous approach of 'leading' about your pay position, and providing benefits and performance pay for achieved targets. You now think of applying a formal compensation system that supports to your recently negotiated employment contract. Disputes the organization faces include the need to consider performance pay for employees. Employees at the company have the same benefits package and it looks fine however no one has ever checked how their benefits compare to other organizations or how employees feel about their benefits. Many employees have been with the company for a long time and are getting old Workforce demographics must be deemed and for the future and this may affect your compensation strategy.

Make a 350 written reasoning that outlines the key elements why the company should evolve its compensation system in order to meet current and future problems make a checklist that your team will use to ensure that the chosen system is purposeful and considers the factors that are most applicable to your environment (10-12 points i.e. job design, evaluation, compensation position, etc.).

Draft a summary of your proposed inventory review process of the compensation system, detailing how it would develop by explaining the relevance of the items that you chose to include in the checklist, how they will be applied, and how it will support the fit of your future compensation system.