Inter Clean Merger Career Development Plan Part Iv Compensation

1742 words - 7 pages

New Compensation PlanThe merger of InterClean and EnvirTech has resulted in a new InterClean that reflects different priorities. Our strategic focus for the future requires a new commitment to customer service and developing long-term relationships. The retention of customer contracts through exemplary customer service year after year will be the key to building our new strategic platform for future success. A second strategic change will be the focus on environmentally friendly and biodegradable products. These two priorities together will allow us to stay ahead of industry standards and separate ourselves from the competition. The commitment to protecting the future of our planet through promoting environmentally friendly products and services along with a dedication to customer satisfaction and long-term relationships has created a new general business strategy that reflects value and cultural responsibility.Now that InterClean has changed the focus and direction for future success, the time has come to provide a total rewards system that is tied to our new objectives. It should reflect the value of our employees through a valuable compensation system and benefits package. The new rewards program should include the following with minor adjustments to address years of service issues that may arise.All sales representatives will be paid straight commission on the actual gross sales. Commission will be paid at 6%. Residual monthly commission will be paid at 0.5% for 12 months. This is simple to calculate and excellent sale people will meet their set goals.Team sale representatives who are in a training position will be compensated for each monthly training seminar performed. The choice between a cash bonus incentive and stock options of equal value may be selected.Sales representatives who hold a training position will be compensated for each monthly training seminar performed. They may choose from a cash bonus incentive or stock options of equal value.Managers will still receive base salary with additional compensation through a straight commission and structured sales bonus plan. They are responsible for completed projects from all sales representatives. They are also in charge of the sales team and charged with overall success of sales goals.An additional incentive will be structured sales bonus compensation for contracts that agree to exclusive use of environmentally friendly (green) products. A list of approved biodegradable products will be eligible for the bonus compensation. This monthly cash bonus will be paid at .025% of the gross sales for the first 12 months of each contract. Upon client renewal of a one-year contract, restricted stock options will be awarded to the sale representative.A team-based incentive will be a cash bonus awarded to all members at 1.0% when all team members sign a new client with exclusive green product use in the same month. This is intended to encourage teamwork and camaraderie while encouraging a friendly...

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