Safaricom as a telecommunications trading company realizes the essence of a quality workforce in achieving its objectives as outlined in the business plans (Mathis & Jackson, 2010). Thus, in pursuit of these goals, the company, through its human resource department and the…
Download full paperFile format: .doc, available for editing
Download file to see previous pages
Thus, in return, the company developed a strategic compensation and remuneration plan, in which the company seeks to compensate its workers accordingly for the services delivered (Aguinis, 2009). Safaricom entails a strategic compensation approach towards its employees, translating into high motivation and employee retention rates.
The current compensation plan entails a pragmatic approach in which the company focuses on the features of the qualification of employees accordingly in facilitating their salaries and related benefits. The company focuses on the areas of the skills of the employees and their individual contribution to the accomplishments of the company in rewarding the efforts thereof of the employees. In practical definition, the company rewards and allocates the compensation based on the current market situation and the service the workers deliver to the company operations (Aguinis, 2009). Further, the company also entails remarkably incredible platform of offering incentives to its workers, to foster the employee motivation accordingly. The company has incentives such as promotional offers to the employees for goods and services from the company as rewards for the services they deliver to the company.
Further, the company also offers credible salaries to the employees, as exemplified by the recent reports in which the company released its statistics, regarding their employee remuneration expenditure, as the report indicates. The company spend about Kenyan shillings 8.4 billion on salaries and benefits to its employees, in the year that finished in March 2013 (The Vodacom Group, 2014). Of this budget, more than 5.1 billion shillings went to wages and salaries while about 95 million shillings went to the allocation for employee grants option plan. The directors of the company got about 387.7 million in remuneration, which is higher than the previous allocation, while the rest was for the other staff. Similarly, the company,
...Download file to see next pagesRead More
The author states that the programs on compensation are based on three compensation principles set by the bank management. Foremost, the bank upholds the interests of associates and shareholders in the way they structure their rewards in incentives and benefits and in their remuneration to the bank employees.
Knowledge, skills and abilities are usually measurable in some way, specific and are easily documentable. Knowledge, skills and abilities are usually demonstrated through education, previous experience, and training (National…). Job analysis documents and establishes the job relatedness of procedures used in employment such as training, compensation, performance reviews, and the initial hiring process.
Be sure to select a different MNE than you did for the first writing assignment. Provide a brief description of the enterprise (e.g., their industry, size, location, number of employees) In Norway Telenor is one of the biggest as well as the most leading mobile telecommunications operator and it is a major international mobile operator, it has got a number of different operations inside as well as outside Norway.
As such, individuals are welcoming of other races and the business would not face cultural resistance or any other cultural challenges.
The precise site of the business will be at the junction between Eglinton Avenue and Highbourne Road, close to
Leadership is perceived as lacking in the case of Religious Health Care. Without proper leadership, the atmosphere and morale within the organization will be on a continual decline. Leadership, communication and staff focus
It is with these profound reasons that most companies have now developed a great array of skills and techniques in captivating the customers to attain the designed goals and objectives (Bhatnagar, 2004).
However, for that to happen, certain conditions must obtain. First, the system must be deemed fair and based on merit. There must be in place a system against which employee performance is measured and that system must be well-understood by the employees. 87.5% of the
The service will deliver high quality and premium laundry and dry cleaning service to the local residents. The current situation of the market, SWOT analysis, and competitor analysis, product/services on offer, competitive edge and critical issues are explained.
11 Pages(2750 words)Assignment
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Save Your Time for More Important Things
Let us write or edit the assignment on your topic
"Compensation Plan Outline"
with a personal 20% discount.