Compensation and Benefits Proposal

Compensation and Benefits Proposal

HRM/531

March 12, 2012

Thea M. Miller

Compensation and Benefits Proposal

In a globally competitive business environment, compensation and benefits have become more significant than ever to both organizations and the workforce. Corporations devote financial and human resources strategies to enhance organizational compensation packages that can be viewed as attractive by potential and future employees of the company. Similarly, applicants are basing career moves with pay and incentives in mind when accepting job offers.

Accordingly, organizations believe that fusing business and compensation strategy together as the key in ensuring a strong commitment from the workforce. However, compensation approach may come with obstacles if incorrectly implemented. To guarantee success, organizations must foster a work environment that considers the well-being of employees as a priority to attract skilled and experienced candidates.

CEVA Logistics

CEVA Logistics is well known in the logistics industry for providing outstanding supply chain services (CEVA, 2012). Accordingly, CEVA’s business strategy incorporates valuing their employees as a priority to compete with industry rivals. Since “compensation is a critical component of the employment relationship” (Cascio, 2010, p. 413), providing desirable compensation and benefits, which is directly affected by the guidelines specified by the government, is CEVA Logistics’ method of empowering their workforce. For that reason, offering the following recommendation for compensation and benefits will bolster staff retention, talent recruitment, and ensure that CEVA Logistics will possess qualified and dedicated employees.

Compensation and Benefits Recommendation

Compensation includes direct cash payments, indirect payments in the form of employee benefits, and incentives to motivate employees to strive for higher levels of productivity (Cascio, 2010). CEVA Logistics is looking...