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Career Development Iv Compensation Essay

1085 words - 4 pages

Career Development Plan IV-Compensation

Career Development Plan IV-Compensation

Natalie Davis

Professor Wanda Taylor

October 28, 2010

The merger of InterClean and EnviroTech resulted in a new InterClean that results in a new strategic focus in the new InterClean, to have a new commitment to customer service and maintaining for long-term relationships. The key to building the company's new strategic plan is the retention of customer contracts through excellent customer service on a continuous basis.

InterClean has made changes on its focus and direction for success with this change comes the time to provide a total rewards system that is in correlation to the company's new objectives. The rewards system should reflect what our company values in our sales team through a reasonable compensation system and benefits package. The new compensation package should include the following with adjustments to match years of service.

The sales team representatives will be paid strictly by commission on the actual gross sales. Sales representative's commission will be paid at 7%. Residual monthly commission will be paid at 0.6% for 12 months. Our excellent sales team members will be able to meet his or her set goals. Sales team members who are trainers will be compensated for monthly training seminar he or she conducts. The team members holding a trainer status are given the option of cash incentive bonus or stock options.

Our sales team managers will continue to receive a base salary with other compensation with straight commission and structured sales incentive plan bonus. The managers are held accountable for completed projects from all sales team members. The managers are also responsible of the sales team and the success of the sales goals.

InterClean will offer an additional incentive for a structured sales bonus compensation for new contracts that agree to use environmentally friendly products. The sales representative will have a list of approved biodegradable products that will be eligible for the bonus. This bonus will be paid monthly at .020% of the gross sales for the first year of each new contract. When a client in good standing renews a two- year contract, restricted stock options will be given to the sale representative. A team-based incentive will be a cash bonus awarded to sales team members at a pay rate of 2%, when all sales representatives sign a new client with solely green product use in the same month. This added bonus will encourage teamwork among the sales teams while promoting green products.

Account size and potential long-term profits will justify this rate. The accounts will be handed over to upper management after initial completion for review and become a house account after one year. By...

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