Fastcat Phase I

4558 words 19 pages
Compensation Plan
Phase I

February 10, 2013

Presented By:
Table of Contents

Executive Summary 2
Recommended Compensation Plan Objectives 3
Strategy for Internal Alignment 4
Job-based Plan 5
Compensable Factors 6
Internal Structure 11
Picture of Internal Structure 12
Execution/Manual 21
Rationale/Evaluation of Recommendations 22

Executive Summary FastCat's mission is to exceed customer's expectations of value, dependability and reliability by focusing on innovation and teamwork; to help our customers succeed; to support and share with our employees; and to respect and recognize individuals and their performance contributions. The following compensation plan
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An equitable pay structure will gain acceptance by the employees and the design of the pay structure will offer career paths to higher paying jobs and a sense of achievement. The proposed compensation plan will minimize hierarchy through cross-training; promote collaboration and teamwork through a loosely coupled structure; support promotional growth opportunities allowing for upward movement within the organization; provide fair pay for similar jobs to promote equity; and determine jobs based on the levels of education, work experience, innovation, communication, teamwork, problem solving, flexibility, and initiative. FastCat's proposed compensation plan not only supports the company mission, but also defines its business strategy. This is accomplished by efforts to expand product offerings to current users; to grow its new customer base to increase revenue; to expand its reach into new geographic markets; and to enhance service contracts and training programs offered to customers. FastCat must encourage and reward creativity, innovation, collaboration and flexibility and provide avenues for employees to adapt and improve products, as well as market and sell new ideas that fill the needs of emerging markets.
Tailored vs. Loosely Coupled Structure:

A loosely coupled structure is being proposed to provide greater flexibility and