The proprietor of a vast hardware, furniture and building division is struggling with the dilemma about how to administer the looming process of compensation assessment. Following two successive years of sticky wages, personnel were eager for monetarygrowth, but there was no extracash in the financial plans. There was the chance to draw savings from imminent process enhancement plans into compensation increases. However, the proprietor had restrictedenthusiasm to transfer hard-won finances to low performing personnel. Despite this, he was also looking forward to rewarding those employees who had worked hard and improved value. A framework that compensated only few of the personnel could lead to an undesirable reaction. He needed to determineif he was willing to convert the savings into rewards, and if the answer was in affirmative, he needed an impactful compensation design.
Introduction & Problem Identification
Strategic Alternative 1
Strategic Alternative 2
Strategic Alternative 3
Recommended Action Plan