The Fit Stop

2266 Words10 Pages
Question: Which managerial strategy would be most effective for this firm. Given what you know about Susan Superfit, which managerial strategy do you think she would prefer to use? Does this match your choice? Road Map to Effective Compensation There are five steps to follow when developing an effective compensation system Step 1 Understand your organization and your people Step 2 Formulate your reward and compensation strategy Step 3 Determine your compensation values Step 4 Design your performance pay and indirect pay plans Step 5 Implement, manage, evaluate, and adapt the compensation system Each step is just one part of the total organizational system, each part must fit with and support the other parts.…show more content…
Each employee will be paid based on their capabilities rather than on the characteristics of their job. This will provide an incentive for employees to develop their skills and move into other roles. How to develop the skill-based pay system: * Determine which employee groups to include * Design skill-blocks * Link these skill-blocks to pay * Provide learning opportunities * Certify skill achievement In the case of the Fit Stop we will include a physiotherapist, a trainer with a kinesiology background, a manager, and customer service staff. We will design the sill blocks as follows: Education 1. High school diploma 2. One year of post secondary education 3. One year of post secondary plus experience 4. Two years of post secondary education 5. Two years of post secondary education plus experience 6. Bachelor’s degree or major professional designation 7. Bachelor’s degree or major professional designation plus experience 8. Master’s degree or bachelor’s degree plus major professional designation Ingenuity 1. Work procedures are standard, little effort required 2. Work procedures are mainly standard, occasional effort required 3. Work procedures are mainly not standard, some effort required 4. Work procedures are mainly not standard, effort required but guidance is available 5. Work procedures are mainly non standard, effort required, little guidance available
Open Document