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2nd Business Assignment

In: Business and Management

Submitted By Temporary1
Words 1357
Pages 6
Compensation Practice

Donald Johnson

August 25, 2015

The current compensation plan of NIKE is geared towards attracting and retaining excellent human resources. The compensation plans serve multiple purposes for NIKE. The compensation plan for executives is determined through a compensation committee and largely relies on long term equity-based compensation to ensure that the executives make decisions in line with the long term objectives of NIKE. For its managers, the company’s compensation plan is focused on exceeding market rates, while ensuring a rich benefits offering, and even a fully paid health plan. This plan is geared towards retaining and motivating the best sales and management staff, to ensure health and continuity of its key human resources. For its agents and suppliers, NIKE ensures that the work environments are sustainable and pay rates are at par with industry standards. This ensures that the cost of production remains under control. Since the wages of these agents are at par with market levels, the company offers its goods at a subsidized rate to its employees, as a form of benefit. Based on its strategy to breed excellence, while ensuring the health and sustainability of its markets, the current strategy of NIKE is very effective in its ability to retain its workforce. The current compensation strategy gives a higher total rewards package to more strategic employees, and prefers to pay at or above market levels in order to retain the best talent in the apparel industry. NIKE operates in the apparel industry, and is therefore subject to market comparisons with companies like Adidas. In terms of market share NIKE is the leader and offers a competitive salary and benefits package. NIKE is in a position to provide rich rewards to its employees and provides compensation ahead of the market wherever possible. It also recognizes that the

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