Compensation Plan

Compensation Plan

Introduction

Motivation of employees and successful management is clearly related to the employee reward system. There is strong relationship between organizational success and effective reward system thus for an organization it is very important to create effective reward and compensation package. Although every employee has their attention caught by the phrase “competitive compensation plan” in a job posting, this can all be boiled down to down to a truth. As they say in the military, what every person wants out of a compensation plan is “more money and more time off (Becker, 1992).” In order to let readers know about how effective compensation plan is created, in this paper we shall create reward and compensation package for human resource manager of FedEx. The compensation package will be designed in such as way that it would be advantageous for the position and company. The paper will also include brief description of my dream job (human Resource manager) for FedEx and contribution of negotiations and collective bargaining with position of human resource manager and goals of the organization.

My Dream Job

As I am about to enter into a professional world, it is very important for me to realize about the job I dream of. Well my dream job is to become Human resource manager at FedEx. The reason why I choose to do job in Human Resource is because I want to have the opportunity to influence innumerable aspects of the organization. I want to play an important part in influencing strategic decisions of the business and mainly want to develop employees of the organization. There are huge responsibilities of Human Resource manager of FedEx. A Human resource manager at FedEx is responsible to establishing range of policies, practices, and process related to overall needs of the organization. He/she is involved in overseeing other HR teams and he is responsible for employee welfare, employment law and salary review.

In addition, the manager is responsible for coordinating and implementing managerial as well as non managerial training and development programs including selective hiring, salary changes, orientation, camps, transportation, promotions, and terminations at site. He is to interact with various departmental heads such as PD and HR to establish requirements for employees and recommending key HR policies, designing recruitment guidelines and formulating KPIs. He has the responsibility to resolve issues of counseling and coaching of employees. He is to develop and implement creative and motivational recognition along with some reward programs to enhance employee retention. He has to manage all aspects of personnel relations such as promotions, salary increases, absences, deductions, payroll, accommodation and attendance (Tropman, 2001). Other responsibilities of HR manager at FedEx include monitoring of employees opinion action plans, assessment of feedbacks sessions. He is responsible for development of various plans. Among all his main responsibility is to measure performance of the staff through appraisals.

Discussion

In this paper we are designing reward and compensation package for FedEx. Therefore before going into detail, we shall give brief description of the ...