Career Development Plan Part IV
University of Phoenix
HRM/531PR Human Capital Management
August 14, 2013
Prof. Carmen Esbri-Tardy
Career Development Plan Part IV
On this week assignment we the company is required to present a compensation plan for the Employees. Because InterClean is going on a new strategic direction upper management requested a suggestion for the new compensation plan specifically for the Puertorrican team. A compensation package is the combination of benefits that an employer offers to the employees. This compensation packages may include wages, insurance, guaranteed raises and vacation days. Usually a company offers a good compensation package to attract and keep the good employees and promote company values. Almost every compensation package includes wages or salary. This also can include a guarantee of regular increases based on cost living, time in the company or the job performance of every individual. Employees in other industries work only for commission or may accept no wages in exchange for other form of compensation, but are rare and not legal in some countries.
According to "How to Compensate Sales Reps” (2012), “Compensating sales reps is not easy. It´s difficult to define the right mix of base salary and commission that will motivate sales reps to maximize the sales and revenues. When designing a sales rep compensation package, the first question you need to ask yourself is, What you are looking for in a sales rep?” The company needs to make sure that they have a committed sales staff, so the first part of the compensation plan will be a salary. The base salary for a sales rep will be one thousand five hundred dollars a month, which will be paid every fifth teen and thirty of the month. Employees will also receive a commission based on sales, that will be assigned by gross sales. Commission will be paid by two different plans, the first one will be a 1.5% if sales are more than $50,000 the...