1. Individual Assignment:Career Development Plan IV – Compensation.
Now that you have created an appraisal system for employees on your new team and a career development plan for each member, it is time to develop a compensation plan. Because InterClean is embarking on a new strategic direction, upper management has asked you to suggest a new compensation plan specifically for your team. Propose your ideas and rationale to the Human Resource Department Manager for approval.
o Describing a new compensation plan for your new employment team
o Explaining why your pay system will work
o Describing three components of a total rewards package that would motivate employees to reach peak performance
o Describing your compensation plan’s benefits to the individual as well to the company
1. Submitas a Microsoft Word® attachment.
Compensation is the important part in any business organization and refers to any forms of pay and rewards received by employees for outstanding performance including different forms of cash, benefits, services, and gifts. The meaning of any compensation plan is to attract and retain the most qualified and talented employees, motivate an excellent performance and personal growth and development, and also meet legal requirements. The most important part o