Question: suggest a reply to this post. have thought - provoking replies that support their arguments and discussion. provide a personal example or experience. At my
suggest a reply to this post. have thoughtprovoking replies that support their arguments and discussion. provide a personal example or experience.
At my company, the structure of the corporate office is fairly new, when compared to how long the company has been in business. Since Steele Hotels has grown, and continues to grow with not only hotel properties but also other enterprises under company names such as Brigus productions and real estate development.
With the segregation of duties and responsibilities of each level within the company, I am going to focus on the corporate office.
Base Pay many positions in the corporate structure are new to the company. For example when I was hired for my current role it was the first within the organization, and therefore no formal pay or compensation structure was in place. There were some market evaluations but ultimately it was determined by what my expectations of the role was and the amount it would take to make a career move.
Base pay now for positions are reviewed annually and created on salary scales that are market competitive and candidates are placed on the scale based on education and experience.
Performance Pay performance pay is a work in progress. There are some contracts where there is a guaranteed bonus, not linked to any performance and no restrictions listed on not being valid for payout upon voluntary termination, or on any performance improvement plan. This format has been discontinued going forward, however, it creates a disparity amongst staff with a two tier system.
Indirect Pay indirect pay at my company would include matching RRSP contributions, medical and dental benefits, EFAP, clothing allowance, travel allowance, parking passes, discounted meals and hotel stays, to name a few. The best being your birthday day off!
The different pay systems align with the managerial strategy as it is retaining and recruiting qualified individuals to grow the business and create a corporate structure. The business is expanding and with that we are incorporating a structured approach with increased benefits for our employees. The strategy is to grow, be profitable, and have a healthy and happy workforce
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