RJ is an emerging company that is operating in the state of California dealing with coffee beverages. Currently, the company has opened seven coffee shops in different towns of California having more than 120 employees who work in shifts. The company has different types of employees such as waiters, sale personnel, drivers, regional managers, and others. Apart from coffee beverages, the company also deals with making bakery where they supply the surplus to the various supermarkets in the across the state.
The most appropriate employee compensation is time off benefits. The main reason I propose this strategy is is less expensive since per the time off will be given in shifts ensuring that the running of the business will not interfere. Since the one coffee shop has five staffs when one is given pay off day the rest of the employees can share the responsibilities and fill in his or her place. Pay off day will ensure that the employee is earning even when he or she is not at work. This strategy will serve as a motivation factor since their welfare is considered by the company (Yan & Sloan, 2016). It is important to recognize that the employees also have families and their attention is required; hence the balance between work and family should be maintained.
This strategy is aligned with both external and internal. External alignment ensures that the policy is aligned overall strategy of the company (Aslam, 2015). The primary goal of the company is to maximize the productivity of the employees hence see through the success of the company.
There will be fairness and equitability during the administering of organization’s policy. The plan of compensation will strengthen the bond between performance, pay, and the organization’s success. Also, the strategy will also ensure that the total compensation will be competitive with other companies. Also, the company will provide all the resources needed to facilitate and recognizing the performance that is outstanding.
The vision will be strategic in both a strong economy and an economic downturn. The reason behind this is just because our products are not affected in a great deal by the economy changes. Another factor is that coffee consumption in America is like a culture where consumption is constant regardless of the economy’s condition. The areas where we will select to accommodate our employees will not be expensive to a certain point which will give us the ability to continue with strategy at any situation of the economy.
References
Yan, W., & Sloan, M. F. (2016).The impact of employee compensation and financial performance on nonprofit organization donations. The American Review of Public Administration, 46(2), 243-258.
Aslam, A., Ghaffar, A., Talha, T., &Mushtaq, H. (2015). Impact of compensation and reward system on the performance of an organization: An empirical study on the banking sector of Pakistan. European Journal of Business and Social Sciences, 4(8), 319-325.
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