Your team is consulting with a local manufacturing company that has 1,200 employees and is the third largest employer in the area. When averaging all of the manufacturing employees’ salary divided by the market midpoint, the organization has a 0.90 compa ratio, meaning that on average employees earn 90% of the market rate. Using the current sales and profit trend, the company has the ability to increase compensation spending by 4% annually for the next three years.
Your firm has been asked to propose three approaches for management to consider:
· increasing base pay
· adding a team incentive plan such as profit sharing or individual incentive plan based on individual performance
· a combination of base and incentive pay
Create a 10- to 15-slide Microsoft® PowerPoint®, Prezi, or Microsoft® Sway® presentation in which you:
· Propose a plan for each of the three approaches.
· Make a final recommendation.
· Support your points with at least one source.
Include graphics and speaker notes on each slide that script what would be said if this information were to be presented in person.