Variable pay strategy and program for an online retailer - Research Paper Example

Comments (0) Cite this document
Summary
VARIABLE PAY NAME INSTITUTION Introduction This is a significant component of directly compensating packages of the tedious growing organizational sector. This technique is to frequently use variable pay, increasing prominence, and expanded eligibility of variable pay while dealing with the package of direct total compensation…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER96.3% of users find it useful
Variable pay strategy and program for an online retailer
Read TextPreview

Extract of sample "Variable pay strategy and program for an online retailer"

Download file to see previous pages Variable pay can at times be long termed (more than a year) while at times it can be short termed (less than a year). Incentives refer to pre determined standards or criteria used in award determination. Bonuses on the other hand are wards delivered to the people concerned at the end of a certain period. The period on the case of bonuses is determined by the subject judgment of the quality of the performance while a reward is warranted (Variable Pay and Performance Linked Incentives, 2010). Strategy An effective variable pay program is as result of a strategic variable pay strategy, this strategy acts as a guideline for a quality design and program administration. A strategic program has the following characteristics: the clearly fit in the organizational structure and are steers of the organizations success. For a strategy to contribute to the success any organization, it must be in line with the mission and vision of the organization concerned. The speed of a strategy does not bring about and importance because most likely it may be speeding to the wrong direction. A quality and strategic program should target to meet the objectives of the organization by lying down the require plans which if properly and rightfully administered, it would take the firm to another level. The strategy of the program should be also sound enough to bring about sustainability of the firm putting in consideration all the core strengths of the organization. It is also critical for a strategy to be in a specific context. It must bring out feasibility where it suits with the culture of the organization and that of the human resource, this must consider the organizational environment and realities that exists. Integration must also prevail where the structure of the program suits in the structure of the specific organization including the human resource’s structure. The program must also be flexible enough to respond to appropriateness and changes within an organization (Variable Pay Plan Development, 2011). There are differences between other compensations and variable pay, this differences occur on the bases of benefits and base pay. Variable pay program does not fit in entitlement cultures, this is because it’s not career annuity where base pay increase and must be compensated trough earnings over the given period. In reference to financial perspective, variable pay is a variable cost but the benefits and base pay are naturally fixed. There are difficulties in administering variable pay, competitive measurements is on of these difficulties. Levels of variable pay vary dramatically unlike levels of base pays, this helps in transforming average of the prevailing market into a broad-range, other than a specific point. One of the major characteristic of these variable pays is that it can be combined with other components to evaluate the performance of different levels in the organization both long term and long term (Variable Pay and Performance Linked Incentives, 2010). The most significant benefits associated with variable pay compared to other types of compensations it that cost related to planning can be combined with performance/revenues and therefore vary economically. In Alaska, there is an advantage of using this kind of system because when the world’s economy is open to large variation, it carries with itself competitive advantage because the situation disadvantages them ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Variable pay strategy and program for an online retailer Research Paper”, n.d.)
Variable pay strategy and program for an online retailer Research Paper. Retrieved from https://studentshare.org/business/1437670-variable-pay-strategy-and-program-for-an-online
(Variable Pay Strategy and Program for an Online Retailer Research Paper)
Variable Pay Strategy and Program for an Online Retailer Research Paper. https://studentshare.org/business/1437670-variable-pay-strategy-and-program-for-an-online.
“Variable Pay Strategy and Program for an Online Retailer Research Paper”, n.d. https://studentshare.org/business/1437670-variable-pay-strategy-and-program-for-an-online.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Variable pay strategy and program for an online retailer

The impact of Pay for Performance program

...of Health Program Development and Management, University of Maryland, Baltimore County, 2003). Challenges associated with Pay of Performance strategy There are a number of challenges or concerns faced by the Pay for Performance strategy. The first being its potential negative impacts on nursing through its worsening documentation load. Since the program requires a lot of documentation for keeping the record, through which nursing providers are monitored and are awarded based on their performance, more than 30 percent of the allocated time is spent on documentation of their work (American Hospitals Association, 2003; Pg 2004). One also...
8 Pages(2000 words)Assignment

Loyalty Program - Apparel and Footwear Retailer

...? Loyalty Program – Apparel and Footwear Retailer The primary focus of this paper is to discuss the issue of Loyalty programs, how do they operated, what are their benefits to the customer as well as the retailer and what are the risks and drawbacks. The retailer selected for this analysis is The Gap Inc of the USA. The first Gap store was opened in the year 1969 with a humorous reason i.e. Donald Fisher, the owner of Gap Inc, was unable to find a pair of jeans that fitted him. The company currently operates within the apparel and footwear industry with five different brands under the names of – “Gap”, “Banana Republic”, “Old Navy”, “Piperlime” and...
3 Pages(750 words)Essay

Argos online retailer, United Kingdom. Web Development

...?Argos is a leading online retailer in the United Kingdom in general merchandise. Argos offers comparatively low prices for goods in its online store. The shops were founded in the 1970’s and currently there are close to 600 stores strategically located throughout the UK. Many of these shops are Argos superstores that have later opening hours and a comprehensive range of both Argos Extra catalogue and Argos catalogue goods for buyers to make a choice from before the purchase. Many people in the UK live within ten Kilometers from the nearest Argos store and it has the popularity of top brands delivery at low prices to the clients. There is ready access to the Argos full range of products...
4 Pages(1000 words)Assignment

ZAPPOS the largest online shoe retailer

...? ZAPPOS-the largest online shoe retailer Zappos.com is the largest online shoe retailer located in Henderson,Nevada. Amazon.com acquired the purchasing rights of Zappos.com in 2009 for a high value of money because of its reputation to the outside environment. Since, its establishment, Zappos.com is the leading online shoe retailers’ store. It achieves a competitive advantage over its rivals through the loyalty business strategy and the liaison marketing that is embraces. The key source that contributes to the growth and development of Zappos.com is the recurring customers and the oral recommendations from consumers that...
6 Pages(1500 words)Essay

E-commerce Strategy for Sport goods retailer

...of online shopping have been hampered by substandard Internet retail site design and purposes. While, historical patterns have not had adequate time to build up to forecast consumer shopping behavior (Asch, 2001). As Internet retail sales persist to enhance at a slower rate than expected, business practitioners and Internet practitioners alike are looking for the product kind that consumers will purchase from the Internet (Aspinwall, 2001). The preferences of customers for shopping on the Internet may be based on the product type, which will in turn affected the need to acquire the information of product easily and at reasonable price. Moreover, the motivations of the consumers' to...
8 Pages(2000 words)Essay

Perfume Fragrances Online. Online Cosmetics Retailer

...exist, and to this end the numerous platforms, such as social media marketing, pay per click and search engine optimization techniques and processes will be implemented in establishing the online presence of the company within the defined sectors and targeted segments of online users. The company is based upon an online store, or an "ecommerce" business model, that will retail fragrances, perfume, makeup and related cosmetic products to an international online audience and target market. The company further relies on a process known as drop shipping, within which no physical stock is held by the company, but is ordered via wholesale...
11 Pages(2750 words)Essay

Dells Online Competitve Strategy

...DELL'S ONLINE COMPETITVE STRATEGY INTRODUCTION In 1984, Michael Dell founded Dell computers while he was a student at the University of Texas, Austin. The competitive strategy adopted by Dell computers was to operate on the direct sales, such as building order model, taking orders over the phone and creating PCs according to the customer's specifications (Kraemer & Dedrick, 2001). In 1994, Dell adopted the Internet online shopping and then virtual integration in 1996 to facilitate this strategy. By 1996 the company was selling $1 million per day online. And by 1999 Dell had become the most popular PC seller in the United States (Kraemer...
13 Pages(3250 words)Essay

Online Retailer of Diamond

... A. Description of the problem Blue Nile has grown to become the world's largest online retailer of diamond and other fine jewelry. Although Blue Nile has maintained its position over the past few years with most of its good management practices, changes in the industry and the competitive environment do not guarantee the company's position in the market. The company has to be proactive in addressing these strategic issues in order to maintain its leadership in online retail of fine jewelry; it has to expand its customer base while keeping the current profitable ones in its effort to acquire a larger share of the market. This requires an analysis of the company's competitive position as well as recommendations in order to defend... market...
5 Pages(1250 words)Essay

Book Bunker: online strategy

...Book Bunker: Online Strategy Introduction E-commerce can be defined as a process of buying and selling products and services by s and businessmen through an electronic medium and without using any paper document. It helps to trade products or services by using computer networks such as internet. Transfer of funds also can be done by using such facility. Internet marketing, electronic funds transfer, supply chain management, mobile commerce etc come under the phrase of e-commerce. Again e-marketing is a process to promote goods and services by using internet as a medium. In this report e-marketing and e-commerce strategy will be developed for improving the sales volume of Book Bunker. This...
5 Pages(1250 words)Case Study

Variable pay scheme

...Variable Pay Programme By + Introduction Variable pay is bonuses rewarded to employees by employers for achieving certain set goals in an organization. This pay is given depending on individual or groups performance. Variable pay provides a tangible reward for employees and encourages them to work hard and more efficient. Variable pay is given in a number of way. It includes annual incentives, individual incentives, gaining shares, and payments for newly acquired knowledge and skills. Variable pay in an organisation is used to motivate employees to perform effective in their line of work. This is a type of incentive to workers (Belcher, 2006). In recent time variable cost should be critically understood before it is adapted... into an...
2 Pages(500 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Research Paper on topic Variable pay strategy and program for an online retailer for FREE!

Contact Us