Research tiered performance-based compensation systems which outlines three levels of administration (managers, vice presidents, CEO). From your research:

2. review how management tiers interact with one another relative to performance measurement and pay. Note that the concept of performance-based compensation systems (pay for performance) is a different concept than performance management systems. Performance-based pay may be used at times in performance management, but it has its own entity.
4. review how performance should be established, including the formulation of goals and metrics on how performance will be monitored.
6. explore how this structure is designed to motivate the team and improve performance.
8. begin to think an argument for or against managers in different countries being paid in local currency vs. Canadian dollars.

Outline your plan for the creation of a performance-based compensation system by including:

• how the three management tiers (managers, vice presidents, CEO) interact with one another relative to performance measurement and pay. explain the relationship between the tiers, levels, and positions. Note this addresses managers. The employee level is not included in the discussion. As well, note that the concept of performance-based compensation systems (pay for performance) is a different concept than performance management systems. Performance-based pay may be used at times in performance management, but it has its own entity.
• what elements of compensation will include and why (explore various types to demonstrate depth and breadth)
• how each element will be administered. Discuss how performance should be established, including the formulation of goals and metrics on how performance will be monitored.
• how specific elements in new system will improve performance, including motivation, and organizational outcomes as an improvement to the current structure
• argument for or against managers in different countries being paid in local currency vs. Canadian dollars.

Answer rating: 100% (QA)

Research Findings on Tiered PerformanceBased Compensation Systems Interactions Among Management Tiers Managers Vice Presidents and CEO Each tier interacts to ensure alignment of goals and objectives t... View the full answer