Billy's BBQ

Billy's BBQ

Introduction

This paper intends to discuss the organizational setup of Billy's Bar Be Q restaurant. Billy's Bar Be Q is looking to set up a new Texas style restaurant. However, unlike the southern locations, they have come to the realization that things like taste, work ethic, and compensation expectations are different in the north. The purpose of this paper is to analyze the significance of compensation policies and compensation systems in order to make the management of Billy's Bar Be Q aware about the importance of compensation.

Discussion

Compensation and/or benefits employees receive are a reflection of the companies value of the employee's worth as to that position or the duties required to accomplish the job duties. Compensation could provide motivation for an employee to perform to the best of their abilities, or simply clock in and clock out.

Compensation Policies

Money is what we all are working for in the market. Our performance, effort and hard work are priced in monetary value. It's the mindset of today's employees. This motivational factor is found most commonly amongst new joiners, executive level employees, commission based jobs. It is researched that a professional who is already motivated by money is not much concerned about the title of his designation, perks and benefits and acknowledgment. This approach has become very common in today's times of financial crunch and recessions.

These employees work with a mind set of put it in my paycheck. These employees are self motivated themselves and do not require any kind of attention and motivation from employer to outperform. However they best respond to those tasks, which lead to bonus and monetary incentives (Ciotta, 2011 p. 25-28).In the recent times and economic conditions, the corporations are viewing work life balance programs as an essential part of compensation and benefits program offered ...