compensation Essay - 707 Words

Basis For Compensation nbsp;nbsp;nbsp;nbsp;nbsp; Premier Conferencing basis for compensation is based on individual, team/organizational efforts. Premier’s associates are their greatest assets and they work collaboratively to achieve a rare degree of success to satisfy their client’s unique needs. In doing this, Premier’s employees work hard at their jobs to provide outstanding service to their customers, therefore received above average pay, both individual, team players, and organizational. It’s great that Premier Conferencing emphasizes on having fun in the workplace while being productive and successful in increase sales and commissions. With Premier’s policy on promoting from within, this gives each associate terrific†¦show more content†¦These Bonus Bucks are redeemable for gift certificates from area business. The places where associate can redeem their â€Å"Bonus Bucks† were gathered through associate surveys. This popular program was introduced in 1995 (Premier Conferencing, 2002). Furthermore, for individual compensation, associates who receive internal written recognition for upholding the company’s â€Å"Core Values† by going above and beyond get a chance to spin the â€Å"Wheel of Premiere.† Every other week, the team gathers the names of associates who have received compliments and determines why these associates were recognized. From that group, names are drawn randomly and read aloud. Those selected get a chance to spin the wheel and win prizes, such as movie tickets, dinner for two, Premiere Conferencing gear, cash, or the mystery prize. Compensation for teams or the organization, Premier celebrates milestones within the company as a group. When Premiere Conferencing reaches a milestone, such as achieving a company-wide objective, or breaking a company record, associates are rewarded for the team effort. In the past, associates have received embroidered blankets, fleece jackets, t-shirts, hats, coffee mugs, and now most current, bonuses. Moreover, when a department meets an objective or deserves special recognition for an achievement, Premier rewards that department with a catered lunch orShow MoreRelatedCompensation1425 Words   |  6 PagesINTERNAL EQUITY (ALIGNMENT) AND EXTERNAL EQUITY (COMPETITIVENESS) After reviewing the Wilson Brothers Case Scenario, as Director of Human Resources for the organization, what conclusions can you draw with respect to the status of the company’s compensation strategies that are currently in place? What would you do to begin to address this situation? (3 Marks) Provide Constructive Feedback to at least two other student’s postings. 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