Chapt. 4 – Organizational Structure Strategic and Tactical Compensation Issues.

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Presentation transcript:

Chapt. 4 – Organizational Structure Strategic and Tactical Compensation Issues

Promoting Fair Treatment in Compensation Strategies 1. Relating job worth to differences in job requirements 2. Recognizing the worth and value of employee knowledge and results 3. Rewarding employee contributions and the results achieved 4. Promoting continued employee acquisition and upgrading of knowledge and skills

Promoting Fair Treatment in Compensation Strategies - continued 5. Supporting team and work unit cooperative efforts 6. Designing compensation plans that successfully compete within established labor markets 7. Aligning compensation of all employees with objectives and goals of the organization 8. Providing a compensation package that enhances current lifestyles and provides long-term protection for employees and their dependents

Understanding Employee Satisfaction Pay Satisfaction Job Satisfaction Organization Satisfaction

Sales Compensation Plans 1. Salary (including expenses) 2. Sales commission 3. Salary + commission 4. Salary + bonus 5. Salary + commission + bonus

Exempt Employees 1. Executives (p. 82) 2. Administrators (p. 83) 3. Outsides salesmen (p ) 4. Professionals (p. 84) 5. Others a. Seasonal employees b. Independent contractors c. Babysitters/sitters d. Volunteers e. Retail and service (very limited!)