Assignment:
Research the standards used for compensation and benefits by 2 or 3 organizations in the retail trade industry as well as the industry as a whole.
Acting as the VP of HR of one of these organizations, develop a revision to a compensation and benefit standard that will help align your company with the national standard and attract quality employees.
Prepare a 350 to 700 word memo in which you recommend your revision to the director or upper management of the organization. Use your research to support your recommendation and include the following:
- Compare your current standards with those of the other companies and the industry as a whole.
- Explain the changes to compensation and benefit strategies you will include.
- Explain other incentive techniques you would consider to align your company with industry standards.
- Explain the motivational strategies that would benefit your sales team and/or front-line.
- Organize a timeline for implementation.
Cite your research and format your paper consistent with APA guidelines.