Compensation and Benefits Plan Executive Summary: SMC Company

This executive summary go out describe the proposed wages and bene breaks throw for SMC Company. Due to the ever-changing labor market, SMC Company should ply a comprehensive and progressive allowance big bucks to hold in its employees. The competitors ar currently offering a better compensation package than SMC Company. The bene contacts offered at other companies may entice virtually SMC employees to mean employment elsewhere. CompensationCompensation is one of the most delicate nuclear number 18as for employees, employers, and Human imaging management. Employees want to make as much as they possibly can while an employer wants the vanquish make believe for the least sum up of money. Most companies? highest terms is in the area of compensation. Compensation is be as ? aboutthing, such(prenominal) as money, given or legitimate as compensation or reparation, as for a advantage or loss.? (http://education.yahoo.com/ university extension/dictionary/entry?id= c0526300) In the production line world, compensation is a confederacy of salary and benefits a association provides to an employee for the work they perform. Some employees are give on an hourly basis, nigh are paid on an annual salary, and others could be paid on a commission structure. there are some employees that may be paid in a combination of these. Total compensation is a term use more(prenominal) today. Total compensation is defined as the pith time value of the employee?s direct and indirect compensation provided by the employer. (http://www.opm.state.ok.us/01comprp.

pdf)A few of the recommendation s for improving compensation impart be disc! ussed. tout ensemble positions will require a salary review. there will need to be immediate action taken to secure cost of living increases for the lower paid workers. A coalition wide ?pay-for-performance? program is recommended to help motivate workers to continually repair their work. This program will need to be modified to fit into each department. The program will monitored by Human Resources. There needs to be achievement and recognition certificates provided for... If you want to after part around a full essay, order it on our website: BestEssayCheap.com

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