HIRING AND VARIABLE PAY PLAN

Hiring and Variable Pay Plan

Hiring and Variable Pay Plan

Brief Summary

Prior to recruiting new employees, most companies are forced to give an abundance of thought as to the reasons that drive and excite employees to actively pursue their open opportunities. These deductions are crucial despite the current employment status or potential responsibility / title of the applicants. Therefore, the below variables apply to any and all hiring. Whether the open job is business related or is in social work, these are the factors that drive employment seekers to accept and, subsequently remain a position. For the hiring entity, upon initial recruitment, not only does understanding and having the ability to integrate the information into the corporate culture, it assists the company when retaining the employees following the hire. These are the corporate traits that the best employees aggressively seek out. Below, you will find a list of three factors. As previously stated, this knowledge should greatly help your organization during the recruiting and employee procurement process. (Draganidis, 2006)

Attractiveness of HVP program

Due to the lingering feeble economy that lacks a pending positive turnaround; potential employees want to know that the firm that they are taking a job with is going to be around for the next few years. Due to the high failure rate of most start-up, venture capital backed organizations, new employees are weary and cautious to take a job with a company that may have to lower their compensation within a few months or even worse, completely go out of business. If the company does not have the stability of a Fortune 500, the executive team is going to have to work very hard to draw the better individuals into taking a job in the firm. (McEvoy, 2005)

Justification of the HVP Program in terms of acceptance rate and turnover

Potential employees want to consistently be challenged. Instead of giving the individual one, sole activity to do during the day, allow them to explore the different divisions and ongoing business related activities that the firm is required to complete on a daily basis. Providing them with the aforementioned autonomy will help facilitate your organization recruit, retain, grow and challenge the individuals whom the company extents employment offers to the person. Even if the person is filling a temporary position, potential employees want to know that if they work hard, they will be rewarded. The companies that have the highest turnover rates are the companies that fail to recognize their employees' achievements and, thus make the people at the office feel as if they are not appreciated nor do they truly have a professional future within the organization. Upon recruiting a new employee, as a hiring manager / company, have a firm grasp and understanding regarding the fact that potential applicants want to feel as if the people with whom they are going to work are friendly, nice and warm individuals. Although a company may be "cut throat" by corporate and business related nature, this does not mean that the ...