Interclean Compensation Plan

Submitted by: Submitted by

Views: 428

Words: 771

Pages: 4

Category: People

Date Submitted: 03/31/2011 08:51 AM

Report This Essay

InterClean Compensation Plan


September 20, 2010

Anne Selcer, PhD, SPHR

The new compensation plan that will be implemented by InterClean will encompass a two fold strategy of providing employees with compensation that will equal our competitors at the top tier and an overall compensation package that will position InterClean as an industry leader. The total rewards package that will be implemented will seek to reward InterClean employees for reaching performance goals and milestones that are closely aligned to the goals and objectives that InterClean has set for their fiscal year. This will ensure that employees see that their contribution is directly impacting the success of InterClean and that the goals and objectives set forth have gravitas.

The new pay system that will be outlined below will work because it will be closely tied to the success of the organization and therefore goals and objectives will be aligned to the organization’s overall strategy. If the individual is meeting goals and objectives, then the organization is meeting their overall goals and objectives. The new pay system will also recruit and retain high end talent because the pay system will consist of a base salary plus bonuses for the employee meeting their goals and objectives. Allowing InterClean’s sales employees to work under a salary structure will ensure the sales force focuses on relationship building with their customers, thereby farming customers instead of hunting for new sales due to the fact they are paid strictly on commission. The merit pay will reward the sales representative with performance related milestones that will keep the employee motivated and focused on providing top customer service in this new sales strategy.

The new pay system will consist of the following:

• Base salary-(the base salary will be benchmarked according to top employers in our industry as well as employers of like size)

• Merit Increases- merit increases...