The structure of a sales compensation plan differs by business and it is typically based on team organization, resources, and the goals. For example, one company might offer a higher basic salary, while another might prioritize commission. In this context, what conclusions can you draw on the best compensation plan that could work well for salesmen and management of the company? O a. Commission based only O b. Combined salary and incentive plan O c. Fringe benefit d. Straight salary plan

The structure of a sales compensation plan differs by business and it is typically based on team organization, resources, and the goals. For example, one company might offer a higher basic salary, while another might prioritize commission. In this context, what conclusions can you draw on the best compensation plan that could work well for salesmen and management of the company? O a. Commission based only O b. Combined salary and incentive plan O c. Fringe benefit d. Straight salary plan

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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One reason employers might offer a particular employee benefit is to aid in recruiting certain types of workers. One example is a tuition reimbursement program to attract highly motivated employees. What other example of benefits are you familiar with that might be used to attract a particular type of employee? What types of employees are most attracted to these benefits?
In a formal performance appraisal system that applies a comparative method, the person rating employees within a company or unit may be required to rank the employees in a forced distribution along a scale, such as for example, placing everyone somewhere along a bell curve graph O True O False
Clearwater Electronics has an employee recruitment and retention goal of 90 percent. How does HR planning best help the company meet or exceed its employee recruitment and retention goal? Multiple Choice HR planning helps the organization improve its plan to build an open and creative workplace. HR planning helps the organization know how many employees the organization needs as well as what type of employees to hire. HR planning helps synchronize the company’s financial obligations with its desire to pay its employees a competitive salary. HR planning helps the company determine whether it needs an HR recruiter.
47- Which one of the following statements is incorrect about the characteristics of a good compensation plan? a. It should be unfair and should ensure equal pay for equal work b. It should be easy to understand. Each employee should be able to compute his own salary c. It should be integrated to the motivational programme d. It should be flexible enough to accommodate changes in salary as per performance
7. Discuss the strategic decisions that guide the design of compensation practices for a company. 8. Explain the difference between an entitlement philosophy and a performance philosophy.
1. Decsribe nonfinancial performances and explain how they are similar to and different from financial performance measures. 2. list three strengths and three weakness of the balanced scorecard approach 3. Many businesses are moving away from the base salary concept and trying to adopt the new systems such as Rewarding Employees based on performance. As such most of the time the employee performance is linked with Profitablity or sales achieved. In your opinion what are the advantages and disadvantages of rewarding employees based on performance. You can provide examples to clearly explain your thoughts. 4. Define the Myopia Problem and Discuss 2 solutions to the myopia problem?
“Imagine you have a client who is hesitant to commit to a job analysis. She states that the investment of time and money into developing a job analysis for every position isn’t worth it, especially because she thinks that many jobs in the organization will change a lot within the next five years. What might you say to this client?”
Salary benchmarking is one of the most effective ways of ensuring that your pay is competitive. Knowing thatyour pay is competitive means that you can respond to employee queries with confidence. However, salarybenchmarking is also one of the least followed processes in HR. A quick check of the recruitment websites will tell you what other people are paying for the same job title – butdoes that mean it is the same job? Is the finance manager of a small housing association doing the same job,and earning the same as the finance manager of a larger manufacturing company? What is the competition likefor finance manager posts? What is happening in the economy that will affect our ability to recruit/retain theseposts? Answering these questions for any post you are considering, will help you to identify what your pay issuesmight be… Consider the following scenario:Ken Butron, a supervisor with Xylo Co. Ltd. (a large manufacturing company), was contemplating taking a joboffer with one of…
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Dont give wrong answer - else i will report you... Hautelook noted that the employee performance ratings are used as a basis to determine employee pay raises. Hautelook can use a merit pay grid to determine the amount for individual employee pay increases by looking at the employee’s performance rating and the ________. a hourly pay rate for the employee b position of the employee’s present pay range within the employee’s base-pay rate c percentage of the base pay the merit increase should represent d annual pay rate for the employee e position of the employee’s present base-pay rate within the pay range.
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Major school districts, to the best of my knowledge, employ an open book policy when it comes to wages. Every employee gets paid based on a standardized formula that usually includes experience, education level, and how many years the employee worked for the system. The Clark County School District in Nevada found itself in an unpleasant situation a few years ago when it became obvious that the formula no longer helped it attract the necessary teachers due to the noncompetitive pay restrictions. The board voted to make a change that eliminated a pay benefit to having a graduate degree in education while increasing pay to those who teach certain topics such as mathematics and science. This caused a revolt by the school district's teachers. Many who spend thousands of dollars getting their master's degrees lost the salary perks of their extra education. At the same time, the teachers who were not paid an extra bonus felt that there subject matter expertise was considered less valuable…