Implementation of the Compensation Strategy Plan for Techtron in Charlotte North Carolina
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In the contemporary business environment, compensation strategy is an underlying HR (Human Resources) practice to build a competitive effective organization. Compensation strategy is a set of HR implementation practice to achieve effective organization. The role of compensation is to balance the overall motivation scheme applied within the organization and the implementation of smooth compensation strategy assists in achieving efficient HR process, which includes performance management, recruitment, and staffing. In the United States, many business organizations are facing the magnitude of changes to enhance better performances, enhance flexibility as well as cutting costs to achieve better HR performances. Thus, organizations are also facing the challenges of pace and magnitude of changes within the contemporary technology environment, and thus, management is implementing compensation strategy to enhance value within organization.
Objective of this study is to implement the compensation strategy plan for Techtron in Charlotte, North Carolina.
Techtron in North Carolina.
Techntron is to establish its business location and the manufacturing site at Charlotte in the North Carolina. The company decides to put its site at Charlotte due to various benefits that the city offers to the private organizations. Charlotte is located at the NC (North Carolina) and is the largest city within the state of North Carolina. The U.S Census Bureau (2012) estimates the