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Communicating total rewards - Essay Example

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Compensation is viewed as one of the major drives towards employee or staff delivery. Based on this, it is necessary to ensure the development of compensation and benefit scheme covers…
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COMMUNICATING TOTAL REWARDS Chapters 9, 10 and 11 indicates that compensation is one the key elements of any organization. Compensation is viewed as one of the major drives towards employee or staff delivery. Based on this, it is necessary to ensure the development of compensation and benefit scheme covers important or major factors affecting employee well being or performance. A good compensation and benefits package should take note of important elements like skills and experience, job description, work conditions or environment and the nature of work. Consideration of these factor ensure an employee or individual is offered the right package (Martocchio, 2014). This paper will develop compensation and benefit for a compensation package for production firm. The package to be developed will be for the operations manager’s position. It is necessary note that this is one of the most critical positions in any organization. This is because the office holder is involved in both management and implementation activities of the organization.
Operational manager’s position is sensitive position hence the need to give it much consideration. Due to this, the compensation and benefit package for this position must include key elements like allowances to help the office holder manager other social issues. A well developed compensation and benefits package for the position of operational manager in any production firm must take into account the fact that the position is involving. This implies that the office holder will be forced to for go certain social elements such as family time which must well covered by the package (Cotterman, 2010). Although some of the social and personal sacrifices the holder of this position will be making are beyond any monetary tag, a good package should make the office holder feel appreciated to steer real motivation.
Compensation and Benefit Package for the Position of Operational Manager
Item
Amount
Basic Salary
Transport allowance
Hardship allowance
Overtime operations payment
Communication allowance
Medical cover
Every item listed in this package touches on the office holder’s well being or motivation towards accurate delivery. The basic salary in this situation is the starting point of any package. However, it is very important to take note of the fact that basic salary is developed or decided based officer holder’s skills and experience plus the job description. This implies that the basic salary must be reasonable on the basis of job description. Employers or the people concerned with the development of this packages must ensure the officer holder doest receive much and does little according to the job description and vice versa. Basic salary setting or development should always be accurate. This is due the fact that the other benefits are determined as a percentage of the basic salary (Society for Human Resource Management, 2012).
The other elements of the package are meant to offer the office holder extra benefits away from the basic salary. Starting with the transport and hardship allowances which are clearly meant to cushion the employee from extra spending on transport, it is clear that the package is aimed at ensuring a stable working environment mind for the employee (Martocchio, 2014). The hardship allowance recognizes the fact that operational manager in organization comes a cross some stressful situation which they need some protection or cushion against (Griffin & Moorehead, 2012). The inclusion of overtime payment clearly points out the fact that a compensation and benefits package should appreciate or respect an individual’s designed working hours. Communication and medical cover are other benefits extended to the office holder to relive employee on extra spending on other social needs.
Conclusion
Compensation and benefits package is one element of any organization needed to motivate employees. Based on this, it is clear that keen consideration when developing any compensation package is important. Compensation package must take into account economical, social and other job related matters. For a long time people have believed that compensation packages should only cover job related aspects, however, this has limited the benefits available to the employees thus making some for go important job offers. It this grounds that compensation and benefits are expected to widen benefits of an employee for motivation.
References
Cotterman, J. D. (2010). Compensation plans for law firms. Chicago: ABA, Law Practice Management Section.
Griffin, R. W., & Moorehead, G. (2012). Organizational behavior: Managing people and organizations. Mason, OH: South-Western/Cengage Learning.
Martocchio J. J. (2014). Strategic Compensation: A Human Resource Management Approach. Pearson Education.
Society for Human Resource Management. (2012). Compensation Practices becoming more Formal, Rigorous. Retrieved on 27 November 2014 from: http://www.shrm.org/hrdisciplines/compensation/articles/pages/compensation-salary-incentives.aspx Read More
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