You are the inventor of a new phone app that converts photographs into a Picasso painting. Your mathematical expertise has created an algorithm based on all of Picasso’s works that will covert any picture into a near perfect representation of how Picasso would have painted the picture. You are convinced this will revolutionize photo apps in the future. Unfortunately, you have no employees to develop it and potentially create expanded uses.
You want to bring in 8-10 developers who will develop and fine-tune the app before launching it for public use. You expect these developers to work exclusively in your company for 5-10 years. After that, you figure the company will either be sold or move on to something else.
Your Assignment:
You need to quickly devise a compensation structure that will attract highly creative employees who will be engaged in the work for 5-10 years. Specifically, you need to develop a pay/salary structure and benefit plan to meet this purpose.
What pay and benefit plans would you devise to meet these purposes?
1-2 pages