Compensation Proposal

Compensation Proposal

  • Submitted By: sshepit
  • Date Submitted: 01/25/2009 11:39 AM
  • Category: Business
  • Words: 782
  • Page: 4
  • Views: 4


DATE: November 17, 2008

TO: Human Resources Manager

FROM: Sales Department Manager

RE: Proposal – Compensation Package for Sales Team

I. Purpose for Request

Due to Interclean embarking on a new strategic direction, upper management has asked lower lever management to come up with a new compensation plan for the sales team. In this proposal I will explain a new compensation plane for the new sales team along with why this proposal will benefit the company and the employees. This proposal will explain components of the total rewards package in order to motivate employees to reach peak performance. In order for the total rewards package to be effective the package should include: a sufficient level of rewards to fulfill basic needs, equity with the external labor market, equity within the organization and treatment of each member of the organization in terms of his or her individual needs.

II. Total Rewards Package

The total rewards system concept is simply about the financial and non-financial benefits given to the employees in trade for their services to the company. The employees will give the company their time, their abilities and efforts to support the company in return for the benefits the company provides. Total rewards involve the combination of essential elements needed to motivate, attract and retain employees to accomplish the organizations goals. They are employee compensation, employee benefits, employee performance and recognition and employee development and career opportunities. Total rewards are the approach of using the four items to develop employee benefits designed to achieve optimal employee motivation. The key to the success of this is that the employees see the financial and non-financial benefits are equally important.

The non-financial benefits are recognition, employee involvement in decision making, training opportunities and a supportive, nurturing company...

Similar Essays