Types Of Compensation Plan For Apple Company

Compensation systems can take on many forms, all of which have positives and negatives related to it. However, certain components are noted to be determinants of solid compensation plans. One agreement of a solid compensation system is the use of incentives. “Clearly a successful companies set objectives that will provide incentives to increase profitability” (Needles & Powers, 2011). Incentive bonuses should be measures that the company finds important to long-term growth. According to Needles & Powers (2011) the most successful companies long term focused on profitability measures. For large for-profit firms, compensation programs should offer stock options. The interweaving between the market value of a company’s stock and company’s performance both motivate and increase compensation to employees As the market value of the stock goes up, the difference between the option price and the market price grows, which increases the amount of compensation” (Needles & Powers, 2011). Conclusively, a compensation plan should serve all stakeholders, be simple, group employees properly, reflect company culture and values, and be flexible (Davis & Hardy, 1999; The Basics of a Compensation Program).

Apple Campus is the corporate headquarters of Apple Inc. located at 1 Infinite Loop in Cupertino, California, United States.

This report examines 3 different compensation systems that our company can develop and enforce within our company for our employees. Compensation is the most important and rewarding factor for employees, so a thorough and thoughtful approach should be taken as we think about changing the way in which this company rewards it's employees for the work they do for us each and every day.

Apple Incorporated is a company, located in Cupertino, California, that produces computers, electronics, and software. Their products include the iPhone, iPad, IPod, and the Mac computer. In addition, they have the iTunes and App stores, and their new service, iCloud. This company, founded by Steve Jobs, Ronald Wayne, and Steve Wozniak, was intended to produce personal computers. The company grew tremendously and expanded from just computers. They are one of the largest information technology and mobile phone maker companies. In addition, they are an extremely valuable brand.

With the constant change in today’s business world, to have a competitive advantage makes it difficult for employers to attract and retain the most talented employees. Identifying the company’s compensation strategy ensures the organization offers the right pay and manages the pay increases to retain top talents. When we hear the word compensation we think about compensating an employee for their work performed, but there

All base salaries will be set with in a range depending on experience, education, qualifications and position. These salaries will be set according to the market percentiles at similar organizations. All salaries will be reviewed for competitiveness on an annual basis and adjusted if the market and financial performance allows. Adjustments will be based off of performance reviews, experience, and overall contribution to the organization. Unless there is an exception from the CEO all salaries will remain on or below market target numbers. Incentive pay awards will be given to those who reach the pre-determined performance goals listed. All compensation plans will focus on improving performance and achieving strategic goals. Pre-determines

The components and general structure of any business firm could lead to disconnection of the relationship between managers and their employees. It is, therefore, necessary that Kudler Foods adopt a well-defined strategy, which will protect the relationship. The composition of the compensation plan for Kudler was developed with the needs and efforts in mind. For Kudler Foods Organization, the Human Resource Managers planned for a strategy that would include all necessary components. The compensation plan for the organization included the base pay, short-term incentives, long-term incentives and benefits for employees, plans for retirement and finally the equity element (Tibergien & Pomering, 2011). The components are discussed in detail, in the proceeding paragraphs.

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:

The company’s compensation programs are result oriented market focused and flexible. Pay for Performance is one of the key compensation program, which includes various pay, benefits and special programs offered by the company.

Apple, Inc. is an electronics and software company based in California, USA. Originally known as Apple Computer, the company is familiar to most people as innovators of the personal computer as it is known today.

Apple inc.is an American technology multinational company that has grown to the global standards. The company has its headquarters in, Cupertino California. The consumer

They are thinking of implement a strategic compensation plan as well as various other options that will allow its organization to focus on its strategic objectives and develop a comprehensive plan, considering base pay, short- and long-term incentives, benefits and growth opportunities. This kind of planning helps ensure that the compensation system will support the organization's long-and short-term objectives without overlap, which would have more than one pay plan driving the same objectives. The ultimate objective of this process is to ensure that the compensation system and other important facets attract and retain the desired employees and that it motivates them to do those things that support the business plan.

Holland Enterprises is on a new strategic direction, to attract and retain the most talented employees and to reduce turn over. Human resource department has came up with a new compensation plan. In the propose compensation and benefits system plan , I will explain a new compensation plan for Holland Enterprises, also I will explain the components of the compensation and benefit system plan in order to attract and motivate employees to be productive . In order for the compensation and benefits system plan to be operational, the package should include a necessary level of compensations to fulfill basic needs, equity with the external labor market, equity within the organization (Henderson, 2006).

Apple Inc. is a globally recognised pioneer in the tech industry. It is a corporation that designs, develops and sells electronic products such as tablets, computers and phones. Founded by Ronald Wayne, Steve Jobs and Steve Wozniak in 1976, it is a multinational corporation with headquarters in Cupertino, California. Tim Cook has been CEO since Jobs’ passing in 2011.

Apple is an American based multinational technology corporation headquartered In Cupertino, California. The company is best known for manufacturing, designing personal computers, consumer software products, and electronics. The company currently employs approximately 110,000 employees worldwide (Fiegerman,2016). The company was established by Steve Jobs, Steve Wozniak and Ronald Wayne in 1976. In 2007, the name changed from Apple Computer Company to Apple Inc. co-founder, Steve Jobs as the CEO. Under the leadership of Steve Jobs, Apple became one of the most powerful companies in the world of technology and innovation. Tim Cook is the current CEO and his leadership style is different. Jobs was a visionary leader. Cook focuses