Executive Summary: Compensation Program



Executive Summary: Compensation Program

Introduction

Compensation for workers is a program safe "no-fault" that provides Physical disability benefits or death that has resulted from damage to the work. The HR and employers needs to put a lot of time, energy and research into developing in attracting employee compensation plan. The vast majority of the corporations use some sort of the program that aims at motivating the employees through incentives which they offer to the employees (Garry, 2007).

The Need Of The Program

The reason behind why the program was is needed because:

Workers often lack the enthusiasm and sense of ownership when they connect to the organization's efforts to improve quality.

The company decided to call ATS their employees to solve problems as a company.

During the first year of her team of workers have saved the company more than $ 3.5 million

Discussion and Analysis

In this paper we try to examine the benefits that the program can offer to the employee. Compensation is also known to be as the “Employee remuneration”. It is basically the compensation which the employee receives in return for their contribution towards the organization. The remuneration occupies a significant place in employees' point of view. It is their rights to have it in order to improve their living standards, the status in the society, loyalty, productivity and motivation that depends on the remuneration which they receive. Thus, even for the employee too, the employee remuneration is important because of their contribution towards the cost of production (Odunlade, 2012).

The most essential communication takes place between compensation management and the other functions of the human resource program. For example the rate of pay for jobs and the recruitment of employees can increase or the limit of supply applicants. Many restaurants and fast-food chains need to change and increase their starting wages so that they can attract new job applicants to meet their requirement of staffing. If the pay rates gets high this will create a large applicant pool, this will help organizations to raise the standards of selection of their hiring and hire better qualified employees, which will eventually reduce the employee training costs.

The Purpose of the Program

The purpose of this program is to develop certain aspects of the employees:

Our employees needs to be engaged in improving quality

Sharing the best practices with each other

Defining briefly the service standards for the key areas

Measure and Seek Feedback

An effort towards continuous improvement in culture and process

Recognizing and rewarding the employees for their contributions to quality improvement

Planning a better compensation motive for the employees

Purpose and Eligibility

The major objective in my point of view of this program is to achieve the reduction in worker's compensation premiums that are reasonably available for the employers in the plan (Rosen, 2008). The participants are the sales employee for this particular or any subsequent Plan year. The Plan Administrator might establish the criteria for the new applicants towards the Plan that is different from the criteria for an employer continuing the ...