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Compensation Plan for Interclean

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Compensation Plan for InterClean Puerto Rico
Victor D. Rodriguez Rivera
HRM -531 PR Human Capital Management
July 22nd, 2013

Compensation Plan for InterClean Puerto Rico The new compensation package for InterClean Puerto Rico’s branch needs to have the ability to attract and retain quality employees who add to the company’s bottom line and this will basically depend on how attractive the compensation is to get the best possible candidates on the market. The traditional salary plus bonus and seniority based plan are basically obsolete for a company that is looking for the best possible candidates to take the company as a great place to work on that is looking to the future and takes into consideration the well been of their employees.
In the 80’s a new strategy of pay plan emerged to reflect business trends including a leaner flatter organizational structures, customer focus, quality improvement, and team based work structures. Companies have struggled to develop merit pay programs, where employee evaluations are too subjective and have no relationship in how the company is doing and if those pay programs are aimed to achieve the organization’s financials goals. InterClean will not have a compensation program the will reward employees based only on their individual’s achievements while the company is actually losing market share to the competition or not been as profitable as it was last year.
Several new pay plans have been develop to assure the organization employees are engaged on the company’s success and continued growth. Skill-based pay rewards employees for learning and using new skills, Team Pay programs recompenses employees for solving particular business problems and Gain-sharing rewards employees for creating direct benefits for the bottom line. The compensation plan should be based on the concept the individual performance and overall

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