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Abstract
Businesses constantly seek methods for improving the basis of
their operations with a goal on increasing organizational
effectiveness and efficiency. Organizations are a complex group
of people aimed towards achieving a common set of goals.This
research paper aims to find correlations between employee
motivation and the underlying value it brings, or does not bring,
to each organization. Emphasis is placed on the intrinsic and
extrinsic rewards and their effect on overall job satisfaction and
dissatisfaction–such as turnover. Motivation differs from
employee to employee and does not strictly fall under one
category. Job satisfaction is also comprised of many facets such
as employee pay, company environment, diversity, and overall
management. Management establishes an all important
foundation for all employees, and thus, plays a major factor in
job satisfaction.
Keywords: employee motivation, job satisfaction,
intrinsic/extrinsic rewards, management
1
4
Total Compensation PlanDenise Johnson, Sytoria Maldonado,
Evelyn SpencerHRM/324
September 18, 2017
Terry BurrTotal Compensation Plan
Having a well-designed compensation plan will help an
organization attract and retain the best talent. Compensation
plans should include a competitive base salary, health care
benefits and maybe even commission and perks. Compensation
depends on the financial health of the organization and will
determine the compensation packages they can offer employees.
Compensation plans should be in line with current trends in the
marketplace. Internal and external equities will both be
explored in our compensation plan for Starbucks completion,
Peet’s coffee.
Peet’s Coffee Key Objectives
Starbucks coffee has brand recognition and is also known for
offering attractive compensation benefits that includes a
competitive wage, health care benefits and education assistance.
Peet’s coffee is an up and coming competitor that mirrors
Starbucks in many ways. The main goal at Peet’s is to attract
talented employees to consider their organization over
Starbucks. So designing a competitive total compensation
program is at the top of Peet’s list.
Current Trends in Total Compensation
Internal and External Equities
Internal equities for Peet’s coffee consists of equal pay
across the board for performing the same job description.
Seniority does play a role in merit pay but will be in line with
current market compensation structures. Peets offers a
competitve compensation package that is designed to be viewed
as fair by employees so they are motivated to perform and earn
profits for the company ("Best Practices: Balancing Internal
And External Pay Equity", 2012). External equities that Peet’s
offers employees are health care benefits and bonus incentives
that are viewed by employees as being fair and equitable over
similar business competitors.
Wage Management Process and Rationale
Retirement Plan and how participation will be driven
Peet’s offers a company sponsored pension plan for employees
and also offers a company matched 401k plan. Participation in
the 401k plan will be presented when the employee is hired and
on boarded. Regular reminders will be available through emails
and company newsletters showing the benefits of enrolling and
also giving information on how to enroll in the program. Peet’s
also has a website with links for employees to view that answers
questions that may arise. Once an employee has enrolled in the
401k plan, annual notices will be mailed to the employee’s
place of residence with current plan information.
Influence of the organization financial condition on
compensation
How the Financial Plan will be communicated to Employees
Conclusion
References
Best Practices: Balancing Internal and External Pay
Equity. (2012). Retrieved from
http://ibrief.wagewatch.com/2012/12/20/best-practices-
balancing-internal-and-external-pay-equity/

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Abstract Businesses constantly seek methods for improving the .docx

  • 1. Abstract Businesses constantly seek methods for improving the basis of their operations with a goal on increasing organizational effectiveness and efficiency. Organizations are a complex group of people aimed towards achieving a common set of goals.This research paper aims to find correlations between employee motivation and the underlying value it brings, or does not bring, to each organization. Emphasis is placed on the intrinsic and extrinsic rewards and their effect on overall job satisfaction and dissatisfaction–such as turnover. Motivation differs from employee to employee and does not strictly fall under one category. Job satisfaction is also comprised of many facets such as employee pay, company environment, diversity, and overall management. Management establishes an all important foundation for all employees, and thus, plays a major factor in job satisfaction. Keywords: employee motivation, job satisfaction, intrinsic/extrinsic rewards, management 1 4 Total Compensation PlanDenise Johnson, Sytoria Maldonado, Evelyn SpencerHRM/324 September 18, 2017 Terry BurrTotal Compensation Plan Having a well-designed compensation plan will help an organization attract and retain the best talent. Compensation plans should include a competitive base salary, health care
  • 2. benefits and maybe even commission and perks. Compensation depends on the financial health of the organization and will determine the compensation packages they can offer employees. Compensation plans should be in line with current trends in the marketplace. Internal and external equities will both be explored in our compensation plan for Starbucks completion, Peet’s coffee. Peet’s Coffee Key Objectives Starbucks coffee has brand recognition and is also known for offering attractive compensation benefits that includes a competitive wage, health care benefits and education assistance. Peet’s coffee is an up and coming competitor that mirrors Starbucks in many ways. The main goal at Peet’s is to attract talented employees to consider their organization over Starbucks. So designing a competitive total compensation program is at the top of Peet’s list. Current Trends in Total Compensation Internal and External Equities Internal equities for Peet’s coffee consists of equal pay across the board for performing the same job description. Seniority does play a role in merit pay but will be in line with current market compensation structures. Peets offers a competitve compensation package that is designed to be viewed as fair by employees so they are motivated to perform and earn profits for the company ("Best Practices: Balancing Internal And External Pay Equity", 2012). External equities that Peet’s offers employees are health care benefits and bonus incentives that are viewed by employees as being fair and equitable over similar business competitors. Wage Management Process and Rationale Retirement Plan and how participation will be driven Peet’s offers a company sponsored pension plan for employees and also offers a company matched 401k plan. Participation in the 401k plan will be presented when the employee is hired and
  • 3. on boarded. Regular reminders will be available through emails and company newsletters showing the benefits of enrolling and also giving information on how to enroll in the program. Peet’s also has a website with links for employees to view that answers questions that may arise. Once an employee has enrolled in the 401k plan, annual notices will be mailed to the employee’s place of residence with current plan information. Influence of the organization financial condition on compensation How the Financial Plan will be communicated to Employees Conclusion References Best Practices: Balancing Internal and External Pay Equity. (2012). Retrieved from http://ibrief.wagewatch.com/2012/12/20/best-practices- balancing-internal-and-external-pay-equity/