I need to develop a draft of the Rewards and Compensation portion of the Recruitment and Selection Strategy/Rewards and Compensation Plan for each position and region that addresses the following information:
1) What other rewards considerations should be included for this position or business unit?
2) Base pay as a percentage of total pay
3) Benefits packages including global considerations
1) Try and identify the core job responsibilities that assist in meeting the business continuity goals and initiatives for effectively creating rewards. For instance, the accounting position is mainly responsible for assuring all transactions dealing with monetary entries supports the company's operations for sustainability. When errors occur during any transactions, the accounting analyst is imperative to assuring errors or discrepancies accounted for on a daily basis. Thus, the types of rewards should reflect ensuring the encouragement in performing well that promotes efficiency within the organization. Some key areas of rewards to consider entail the following:
a. The level of quality output on finding accounting errors during a month that exceeds 95% will garner a bonus either monetary or paid time off allowance.
b. Training incentives that promote career development leading to further certifications for employees, such as, CPA or senior level management (tuition reimbursement).
Keep in mind, the core objective is to foster ...
The rewards and compensation in recruitment strategies are provided. The benefit packages including global considerations are given.