Your team is consulting with local manufacturing company

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Reference no: EM132225451

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 three approaches for management to consider:

increasing base pay

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.

Reference no: EM132225451

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