Human Resource Management Compensation - 1764 Words

Career Development Plan IV Compensation InterClean is entering a new strategic target and upper management has asked for a proposed compensation plan purposely for the new sales team. Recommendations for the new compensation plan will be submitted to the human resource department manager for endorsement. The foundation of the new compensation plan was developed after reviewing the job analysis, training program, and performance management plan. The plan includes a description of the prepared proposal and the explanation of an effective pay system. The three parts of a total rewards package to encourage employees to achieve highest performance is implemented in this strategic plan. The compensation plan also illustrates the designed†¦show more content†¦According to a survey of recent college graduates, a retail salesperson earns an average of $1,560 per month or $9.75 hourly (Able Recruiters, 2009). In the median wage of retail salespersons, the average annual earning is $19,437 or $9.34 hourly (Texas Workforce, 2 009). Since Susan Blunt is seniority based pay, she will be deal within a different perspective. Presently she is at the maximum rate of pay in grade 4 and her point spread is 143. Blunt’s starting pay should be the maximum rate of grade 5, which is $19.33. Employees’ Benefits As an added attraction, benefits were designed for the sales team. These benefits included are healthcare insurance, life insurance, disability insurance, workers’ compensation insurance, and retirement plans. InterClean will acquire 85% of the cost of the healthcare by providing a Health Maintenance Organization (HMO) for all employees. The life insurance will cost employees $10 a month per $10,000 units. InterClean will obtain the cost of the short-term disability and the employees can purchase the long-term disability at a reasonable price. The company will provide workers’ compensation insurance that pays employees 80% of salary if injured on the job. As a courtesy and motivation, InterClean will pay the 20% in a hump sum payment when employees return to work along with any impairment rating. The retirement plan consists of a 401-plan where InterClean will matchShow MoreRelatedCompensation And Human Resource Management2215 Words   |  9 Pages Compensation and Human Resource Management Introduction The Human Resources Division provides aid to planning required, retaining the flexibility to cope with unforeseen situations. There remains, however, understood that, within of its powers, each manager is also responsible for the preparation the resources necessary to establish the company. 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