Mod 6 (2nd part)
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The document discusses compensation strategies for special groups within organizations including supervisors, board of directors and top management, professional employees, sales staff, and contingent workers. It outlines issues and conflicts faced by each group and recommends compensation approaches. For example, it suggests that supervisor pay should exceed highest paid employees and include variable pay. Board compensation should link to company performance through cash and stock. Sales staff compensation should consider market factors and include base salary plus commission or bonus plans.
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Mod 6 (2nd part)
- 1. Compensation for Special groups By: Akansha Badal Atisha Pradhan Preeti Agarwal Madhilika
- 22. Average Salary for Sales Employees Annual Revenue of the company Base Salary Bonus plus Commission % Bonus plus Commission Total compensation Executive $ 87,178 $ 35,721 41 % $ 122, 899 Top-level Sales representative $78,483 $ 60,676 77 % $139,459 Mid level sales representative $ 49,144 $ 28,035 57 % $ 77,179 Low level sales representative $ 37,698 $ 14,294 38 % $ 51, 992 Average of all representatives $ 54,452 $ 25,571 47 % $ 80,023
- 23. Key Considerations in Sales Plan Design 1 Nature of people choosing sales as career 2 Organizational strategy 3 Market maturity 4 Competitor practices 5 Size of company 6 Economic environment 7 Product sold
Editor's Notes
- The differential varies any where from 10% to 35%.
- Watson-Wyatt reports that 98% of the companies they survey compensate outside members, while 5% compensate inside directors. The larger the firm, the greater the likelihood of compensating outside directors. The reverse is true for inside directors. Compensation has not always kept up with this increased responsibility that directors face. There is a growing concern that board members are paid too much to perform rubber stamp duties, but too little to assume today’s risks, responsibilities, and pressures.
- See Exhibit 14.7, page 503