Compensation (Human Resources) - Essay Example

The company selected is the Apple Inc, a US based multinational firm which is involved in the manufacturing, designing and the selling of the electronics and software products. The company was founded by Mr. Steve Wozniak and Steve Jobs in 1976, headquartered in California. A variety of products from the Apple Inc includes the hardware stuffs known as macintosh computers, ipods, ipads and iphones. To add on to the innovative line, the latest product from the company is the ipad which was introduced on January 2010, which is a multimedia formatted tablet which include the photos, videos and the books.1) Summarize the key Points of Your Companys Strategy.

The strategies of the company are: Basic Salary: The basic salary is the remuneration provided to the employees for the effort taken for the better services to the company. The basic salary has the due consideration of experience, performance etc.Annual Incentive Plans: Incentive plans normally endow with compensation foundation on a formula, on accomplishment of concert objectives, on an unrestricted decision, or an amalgamation of these. An organization internally could be measured adjacent to the individual performance.

Bonus Plans: These are in this group, which are characteristically unconnected to an overall compensation strategy.Long-term Incentive Plans: These plans consist of stock-based strategy, which put forward stock options based on stock performance or finance policy, which suggest cash booty joined to congregate objectives. These plans recompense performance with the time period of 2 to 5 years. Perquisites. This remuneration normally comprises with use of a car, employee retirement plans, and various contracts.2).What are the key Differences Compared to the Strategies of Microsoft and SAS?

Compensation and benefits are:• A very high sales incentive with base salary• Bonus provided regularly, which are depended on company profit• A high sales potential• Freedom in working from any location and the flexibility in the working hours3) Summarize the key Similarities and Differences The key similarity among the Apple Inc and the Microsoft is in the efficient potential by both the company sales. Good sales incentives are provided to the employees in both the organization and the bonus provided by both the companies are depended on the profitability of the company.

The company insists in the working hours for making it a success in the market. The differences in the company are in terms of the payment structure. The basic payment provided by Microsoft are high compared to that of apple inc” Microsoft is reportedly trying to hire away Apples retail employees by bribing them with. wait for it, better wages. People that have spoken to The Loop on condition of anonymity confirm that Microsoft has contacted a number of Apples retail store managers to work in their stores.

In addition to "significant raises," the managers have also been offered moving expenses in some cases.” (Microsoft reportedly poaching apple retail staff, 2009). 4) Why do These Similarities and Differences Occur?The dissimilarity in the strategies of the companies occurs due to certain reasons. The main idea in the planning of the strategy is based on the efficiency in the company’s operations, productivity and profitability. Various reasons are there in expecting the positive relationship in the organization.

The level of the executive employees also plays a vital role in the organization size and the positioning of the strategy. The different contingency approaches in the organization also affect the strategy to an extent.5) How can Maps be used to Clarify and Communicate Compensation Strategies to Leaders and to the Employees?The mapping is helpful to classify the employees depending on the compensation strategies. The compensation strategies differ among the different positions in the organizations.

Most of the organizations assert the need of communication to the employees. The communication can be passed by the effective communication by the general meeting or get together of the leaders. The employees are to be conveyed and made aware of the benefits and the future goals of the compensation strategy. The leaders should be able to reflect on the individual experience in the industry, qualifications and the characteristics in the organization irrespective of the messages conveyed. The leaders are also conveyed about the constraints needed to fulfill the problems and to resolve them.

The employees get the message from the immediate manager or through other ways. Their importance is made aware and is conveyed through emails and the meeting is arranged in the organization.Reference ListMicrosoft reportedly poaching apple retail staff. (2009). Slashdot. Retrieved June 13, 2010, from http://apple.slashdot.org/story/09/09/21/2258240/Microsoft-Reportedly-Poaching-Apple-Retail-Staff?from=rss