Dbk Solution

One of the important aspects of business management is having a proper compensation system. Compensation ensures that the staff of the company obtains the results of their efforts. Compensation is a cost to the enterprise and, therefore, a proper remuneration model must demonstrate its ability to produce returns. Also, since compensation is what the employees get in exchange for their services, the type used must be one that will motivate the employees (Belcourt & McBey, 2015). Henderson printing company is a mid-level company. Therefore, it requires a very critical remuneration system that will help it to survive. This memo explores the compensation models that Henderson printing operates as well as suggests the necessary changes.

Compensating the organizations sales staff through the use properly designed performance pay will lead to profitable sales for the organization. Once again linking compensation to performance will benefit the organization in its ability to pay. It is important to design the compensation of the sales staff in a manner that encompasses all of the organizations goals as communicating with production staff will be a key component of the High Involvement Strategy, and it is important for the organization to demonstrate a commitment to the sales team that the relationship is not just purely financial. Therefore direct compensation for them should consist of a minimum base salary upon which their commissions are added.

In any case, a general notion can be drawn that the the motivator factor are measured in different terms. The Sales staff aggressively pursues more sales opportunities because its success, feeling of achievement and the large financial incentive depend on their individual performance. This does not exist in Marketing as the feeling of achievement or the vague bonus scheme depends on the company’s performance rather than individual success. Furthermore, the hygiene factors such as pay policy, supervision style, social status and working condition seem to play significant role in Pluto Telecommunications. These hygiene factors in Sales department create job satisfaction as the sale staff is well paid, with greater autonomy in making decisions, high social status awareness and self –esteem. Yet, these factors, up to certain degree do, not play important role for Marketing. Therefore, it is essential to understand what and how motivates people.

A well-articulated compensation philosophy drives organizational success by aligning pay and other rewards with business strategy. It provides the foundation for plan design and administration and anchors current and future plans to the company's culture and values (Kaplan, 2006, p.32). Recognizing and rewarding achievement is the cornerstone of the company A’s compensation philosophy. The mission of the company is to attract, select, place and promote all individuals based on their qualifications. The company believes that performance-based compensation helps attract, develop and retain talented professionals. In addition to base pay which based upon local market conditions and targeted to be above market, the company provides the following types of potential compensation to reward performance:

Fred Maiorino had been a successful sales manager for Schering-Plough Corporation for thirty-one years before Jim Reed was named general sales manager over the South Jersey sales district that included Fred’s sales territory. Afterwards, Reed implemented several changes to try to boost sales including a new performance appraisal system and a hands-on coaching style to motivate his sales staff. The problem arose with Reed’s inability to motivate Fred (Buller & Schuler, 2003).

DBSK is a procedure that removes the abnormal layer of the stroma with a diamond burr, which is similar to a tiny Dremel® tool designed for the eye. It treats the entire cornea and may result in less scarring than other treatment methods. The ideal outcome of the procedure is to stimulate the ulcer to heal quickly both to alleviate discomfort and because shorter healing times may result in less scarring of the cornea and better

Straight commission pay for salespeople has its advantages and disadvantages. In a fully commission-based pay system, one hundred percent of the salesperson income comes from their sales which are based on their performance (Harrison, Virick & William, 1996). Advantages to this type of pay structure are the maximum incentive, by increasing commission rates. Additionally, direct motivation is the advantage since a clear and direct link exists between how much a sales representative sells and their pay. This factor motivates the sales representative to improve their sales productivity to increase their compensation. Commissions additionally have some advantage with sales management, due to the fact they are easy to compute and administer. In

The labor and economic climate and the labor market of today have a lot of uncertainty. In today’s soft labor market, compensation and benefits might seem like a non-issue. Small business are struggling to be competitive in the business world and in order for them to do so them must compete to hire those employees that have a high degree of competence, qualifications and knowledge. Rewards strategies have taken on renewed significance for human resources and financial professionals.

These transformative changes to the selling environment are ultimately forcing the salesperson to reengineer and rethink how they approach their business accounts. Failure in adapting to these changes can result in many adverse situations but ultimately revolves around ineffective team selling.

MedTech’s compensation plan is based on straight commission. While commission pay is an important part of compensation plans, there are advantages and disadvantage to a plan than fully relies on commission. The advantages are clear. Paying sales representatives to complete sales transactions provide short-term motivation to initiate sales quotas while discouraging underperformance. In addition, compensation plans are simple to disperse across a sales force because they are directly tied to sales volume, which also simplifies the justification for selling expenditures (Johnston & Marshall, 2009). According to Srivastava and Tang (2015), compensation plans increase sales representatives’ commitment to achieve organizational goals. As a result,

The reward system is just as important as any business or innovation strategy as it maintains a continuous cycle of creativity based on the idea that individuals and teams are rewarded either monetarily or non-monetarily for their successful ideas and implementation of innovative strategies. According to Birkinshaw, Bouquet, and Barsoux (2011), the social recognition received for successful accomplishments rivals that of the monetary reward. Nordstrom was one of the first retailers to provide a commission to its sales staff which was highly successful, however when other industry leaders began instituting the same commission reward, it failed to accomplish the desired objectives (Pfeffer, Hatano, & Santalainen, 1995). This was primarily due to the fact that the base pay was reduced by competitors where Nordstrom actually increased their base pay. The other piece that Nordstrom implements successfully is the concept that promotion is from within only. This provides for that sense of accomplishment

Fredrick Taylor’s theory will help the business meet its objective motivating its staff by financial rewards such as bonuses, vouchers, holiday discount and discount cards. It’s important that the workplaces keeps motivated to keep productions levels high. The 21st century manager could also use this theory to remind staff that there are opportunities like financial rewards for staff, this could motivate them more.

InterClean is entering a new strategic target and upper management has asked for a proposed compensation plan purposely for the new sales team. Recommendations for the new compensation plan will be submitted to the human resource department manager for endorsement. The foundation of the new compensation plan was developed after reviewing the job analysis, training program, and performance management plan. The plan includes a description of the prepared proposal and the explanation of an effective pay system. The three parts of a total rewards package to encourage employees to achieve highest performance is implemented in this strategic plan. The compensation plan also illustrates the designed

Keeping employees motivated in addition to creating incentives and/or additional ways for employees to receive more compensation will create better performance overall within an organization. Contrary if company B gives their employees incentives to perform, without any motivational tactics they probably will not have as many top performances as company A, in addition the company may only seek short term rewards verses have long term success. Lack of motivation for employees within an organization, can cause long term damage for the company’s success. Different things motivate everyone; therefore there should be a system in place to keep employees motivated for the long term success of the company. In the MBM textbook under the concept of incentives, compensation, and motivation, there are a couple of different views of how it should be applied within an organization. We will discuss The Social Role of Profit, Personal Profit and Losses, and the way Market-Based Management view how incentives, compensation, and motivation should be applied and the things that effectively drive employees’ actions while at work.

Even though they were growing fast, they faced few problems which include staffing and decrease in sales. Staffing has become a major issue in the company, since there were locations that have buildings but no employees. This problem in hiring the right employees that meets criteria of the