Assignment task: Connecting Performance to Rewards
You have been hired as the HR manager for a used car sales company with over 50 employees. The CEO has expressed concern that the company's current total rewards program is not competitive enough, and that sales employees are complaining about being underpaid compared to other used car sales companies. The CEO is worried that top-performing sales employees will leave the company for better-paying jobs elsewhere if the company does not address this issue.
As the HR manager, you have been tasked with developing a more effective total rewards program for the sales employees. How would you link performance to rewards in the total rewards program for the sales employees? What metrics would you use to evaluate their performance, and how would you ensure that the program is fair and equitable?