Over the years, it has been thrilling to watch the progress or maturity of any given company’s new sales team. Not long ago most companies have seen the need of coming up with or putting together a formula for success. In so doing, most companies can therefore be assured of saving the best at last. It is my great pleasure and of great importance to introduce a compensation plan or scheme that will ensure that most organizations are successful and this can only be done by motivating employees. This research paper will therefore take a look at Compensation Plan which will have detail on the most appropriate pay system, effects on employee motivation, and the benefits to the organization as well as individual employee.
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Ways of Motivating and Inspiring workers
In this respect there is the need to address the following question: how does an employer or manager increase the business value of the people who are employed? Above all it is quite important to note that they are people and each one of them is important in the business family.
Ways of harnessing these energies
Bhagwat, et. al. (2009) argues that there are various ways that an employee can be harnessed which include: seeking and applying your employee’s own ideas and feelings, expressing personal interest in employees, ensuring that there is effective motivation and supervision, installing and appreciating job well done, and lastly keeping employees informed. The above ways and techniques are discussed in detail below as they drive your employees towards your main objective of building a reputable business by ensuring that employees, customers and the employer are satisfied. In putting the above mentioned procedures into practice, it obvious that the job is half way done. But there still exists the personal question to employees: what am I worth? Or what is there for me? This is the same question that the manager asks himself and must therefore consider even the workers as well. The success of any given organization or company depends of the incentives that are rewarded to the employees.
Seeking and using Employee’s Ideas and feelings
In order for an employee to feel part and parcel of the organization, each employee must feel free to contribute ideas. Management must be willing to encourage employee ideas and provide the necessary mechanism in obtaining the ideas. The discussion of ideas, suggestion boxes, and employee meetings are some of the possibilities that can be used to motivate employees. In this way employees are harnessed to think concerning the problems that are facing the business, concurrently, some ideas for their solutions can be forthcoming. In order for a manager to ensure that this successfully done, he or she carefully considers all ideas, and commend or reward the giver (Heneman, and Young, 1991).
Keeping employees well-versed
Successful service industry managers must be capable of building good attitudes in their employees by keeping them well-versed of the affairs and the undertakings of the industry. Some of the important ways of ensuring this is done is by use of bulletins, personal communication, regular employee newsletter, meetings and individual written notices. For instance, meetings are the best method of ensuring that employees are motivated and should be kept short and purposeful. After a first meeting the manager then, therefore, sets aside some time for the consideration of some of the ideas and problems, this allows them to think about how to reach conclusions and address the problems in the right manner. Holding meetings is one way of motivating employees as well as the building of self-esteem amongst the staff. The manager has the mandate to write minutes and distribute them to all concerned personalities on the same day the meeting was held.
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Expressing personal significance
This is another way of creating motivation through holding personal conferences that are usually held privately by each employee. For instance, manager should, therefore, find some time annually to sit down in private with each employee. This is to be done in a friendly manner so as to allow the employee to be able to discuss their personal problems and also discuss business matters. Such talks are geared towards smoothing out problems and difficulties which may hinder the motivation of the employee. Talks are vital to the supervisor as it will allow them to look into the information provided to furnish where necessary (Martins, 2009).
Instilling Pride in Work
Kwon, et. al. (2008) asserts that one of the definite advantage of employment in any given service industry in that much of it is still of a craft nature. The work done by hand is capable of producing a complete finished product that can be admired, as this shows satisfaction. Furthermore, automation in the manufacturing process will, therefore, force a growing number of persons to look for jobs elsewhere due to the fact that the labor supply exceeds the demand. This may lead to a diversion of the attention from many workers and hence make them to look for jobs in service industries (Martins, 2009).
A career in going to places of interest is habitually seen as a concession, since most jobs in this industry have a measure of glamour and exhilaration. Managers can build pride, and this should be done to keep good employees as well as attracting new workers. Employee status can be elevated by following the propositions in this bulletin. Respect and pride for all employees is the foundation for increasing status of any given industry.
The pride in a job that has been performed nicely also builds self-esteem. Morale can be clearly defined as a poignant connection to the industry itself. It is the end product of skilled management and is reflected in each individual and in the broad tone of all employees toward their employer as well as the customers. When employee satisfactions and needs are being met, the end result that is certain is excellent morale. Self-esteem therefore becomes an imperative pointer of the quality of employee management and should be carefully watched and measured as an integral part of the total management process. Any weaknesses which may appear should promptly receive consideration and rectification by the manager or the supervisor.
Stipulation of Effective Supervision
The superintendent is the basic decision-making component in the business organization. He forms the essential link between the general manager and the employees. The entire business is reliant on him. He must follow the rudiments of better management- planning, organizing, encouraging, and scheming. In fact, his functions in the latter two are more important than the former, but nevertheless, he does operate within all of the management procedures.
Habitually, the administrator is accountable for the training needed within his subdivision or branch. He owes each person under him the prospect for training and self improvement and should be entitled to similar opportunities himself. The worker must have good and effective supervision to perform to the best of his ability. Poor supervision leads to some of the contradictory results.
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Martins, (2009) claims that according to an authoritative source, one-third of all employee job changes can be attributed to poor regulation. As a consequence, excellent supervision will basically establish the level of employee performance. Due to the fact that much individual motivation is derived from a knowledgeable overseer, your efforts as manager to improve the quality of management will reflect unswervingly in higher worker motivation, accomplishment, and working spirits.
Money if properly used can be a motivating factor to an employee, but little money may have no effect. To achieve motivation of executives, for that reason: reward offered to employees should be consequential; and vary with performance. The perception is simple, but its implementation is the most complex issue. On the other hand, the job is well worth trying. To be effective, the reward should be ‘tailored’ to each character, but only as part of the total reimbursement notion. It is indispensable to build up an overall program within which reparation put together must be individualized.
Pay Plan System
The type of pay plan system that an employer needs to design should be based on a performance-based system. Inter-clean understands that in today’s global economy, competition is fierce for persons who are talented individuals. Consequently, it is vital for any company to have a formal compensation system put in place in place. The performance-based payment scheme or plan is designed to “magnetize, maintain, and motivate employees”
The company chose the performance-based system because of its alignment with our overall company philosophy and objectives. A compensation plan specialist, states that “organizational business model is the single most significant factor in determining the type of reward approach that is followed”. Therefore, the compensation plan must be based on the following: strong inducement or enticements for higher levels of personal sales, strong enticements for schooling others to achieve high personal sales, consistency in selling is highly rewarded. However, a well designed recognition system complements the compensation plan to offset a higher level of discouragement found in a stronger selling environment.
The company and the employee come first with this pay system. With an incentive-laden, performance-based system the company can expect sales growth and customer satisfaction which should lead to higher profit margins. The employee benefits from this system because it gives them a variety of ways to receive compensation – paid leave days, stock options, additional money, gifts, etc. In addition, the employee benefits from this system because the deciding factor in their paycheck is their own performance. With this kind of pay plan the employee determines their salary and benefits as well.
It is the desire that this pay system and motivational approaches will bring excitement to any given industry’s workforce as our employees realize the limitless prospects in front of them. This kind of pay system should be in a position to motivate employees to higher levels of sales and to a deeper obligation to our clients, bringing success to both the employees and the corporation.