Fastcat Phase I Essay

Henderson printing is a mid-level company. The company operates some compensation models for its personnel. Through these models, the employees receive rewards for the labour they render to the enterprise. Henderson printing pays its employees by giving them regular salaries for their services. These are direct payments for the work they do in this company. Secondly, the employees are given pay raises even though this depends on the employee’s initiative to ask for a pay rise from the owner (Davis, 2013). Lastly, the employees are also accorded some merit bonuses every Christmas time. The merit bonuses are based on their contribution to

To protect employees and employers; ensuring that their needs and rights, within the work place, are covered. They make sure everyone is treated equally and fairly, avoiding the risk of discrimination, both direct and indirect. This means making sure that everyone is given the same opportunities and freedom to develop within their work regardless of their race, sex and ability.

While gathering the research for this paper I came across numerous compensation strategies. As with anything in life, we find a lot of possibilities, however there were three main structures that jumped to the forefront.

We did this to ensure that we are benchmarking for all types of positions instead of positions with the highest or lowest number of job evaluation points. As stated in a section above, we are holding the strategy of leading the market in base pay for all of our employees. By including many different types of jobs within FastCat, we are able to be more confident that the regression marketline will closely reflect the survey data. However, something to consider is the quality of job descriptions for the survey jobs. The descriptions of the FastCat jobs were very intricate and included a detailed list of responsibilities, levels of experience and education required, and competencies. The descriptions from the survey data were much shorter and did not contain nearly as many details, making it difficult to compare the jobs among each other. This is particularly important to notice among the managerial positions because those will be the higher paying jobs within the organization. We realize that the discrepancies between the FastCat job descriptions and the survey job descriptions could have caused some unavoidable error. This gives us some pause, and is something to consider when officially implementing the compensation structure. A complete list of the survey jobs we benchmarked with their FastCat jobs and their corresponding job evaluation point values can be

To be client-driven and maintain consistency in delivering the quality products and services in the most cost-effective

Customer satisfaction is the customer’s evaluation of a good or service in terms of whether it has met their needs and expectations (Vander Schee, 2016). The culture of the organization is to focus on delighting customers rather than on selling products (Lamb, Hair, & McDaniel, 2017). An example of a highly satisfied customer would be Nicole Snow, who owns a small business in Maine. One day she reached out to FedEx on social networks and asked for help in getting her supply chain set up. The team responded immediately and helped her solve the problem (“FedEx,” 2015). Here customer satisfaction is greatly shown the customers’ needs and expectations have been met by

The creation of goals and timetables for actually hiring and promoting minorities and women in positions where they are underrepresented. This ensures that employers are acting in good faith in the prevention of discrimination.

With the constant change in today’s business world, to have a competitive advantage makes it difficult for employers to attract and retain the most talented employees. Identifying the company’s compensation strategy ensures the organization offers the right pay and manages the pay increases to retain top talents. When we hear the word compensation we think about compensating an employee for their work performed, but there

Will ensure that all parts of our business work together cohesively to deliver customer-centric outcomes to support the initiatives in our Future Strategic Business Plan.

To successfully implement a change in any business, there must be a concrete plan of action in place. In this case, our team of compensation professionals has compiled a list of strategies for implementing the new compensation package into FastCat’s everyday business.

To treat everyone fairly and respect their human rights, to give all people equal opportunities, fair access to jobs, training, goods and services as well as certain legal rights.

Official compensation comprises of both an altered part and also a variable (or “at risk”) part which comprises of different STI and LTI components that suitably reflect executive's’ duties, responsibilities and outcome against objectives. It guarantees that compensation suitably attracts and motivates kin of the most elevated nature. The variable part includes: -

To provide our customers with the best possible customer service at all times and to maintain the quality of our products.

As an employee, you are an integral part of our company and your contribution cannot be overstated. Our goal is to provide timely, efficient, and effective service for our clients. In delivering what our clients want and need, we can generate greater customer satisfaction and create opportunities for continued business.

business purpose. All-in-all their promise is to have the best quality in customer service with a