In the paper “Sales Force Compensation” the author analyzes the provision of a total rewards program, which has been the centerpiece of organizational success. Total rewards program refers to all the tools that are available to the employer…
As such, the use of total rewards program as a way of attracting, retaining and motivating employees involves the extension of what an employee perceives as being of value to that employee. The need for an effective Total rewards program is underscored by firms being solely dependent upon it for growth, stability and overall success. Likewise, the success of a firm that wants to have an effective sales force must use total rewards program, the size of that firm notwithstanding. 1. Six Features of an Effective Total Rewards Program In order to motivate the sales force to produce the highest number of clients, there are six features of an effective total rewards program that should be put to use. One of the features that of an effective total rewards program that will help is compensation. Compensation is the pay that is extended to an employee for the services that the employee renders. Compensation should not only include both short and long-term rewards. Fair and effective compensation is that which supports the organization's goals, mission and business objectives. It is against this backdrop that Nike Inc. provides its personnel with very competitive salary that totally complements employees' duties, roles and responsibilities. Another feature of an effective total rewards program that should be put to use is the definition and moderation of work-life. Work-life comprises a particular set of organizational policies, practices, programs and philosophy which actively sustain and support efforts to help employees attain success both at the workplace, and at home. Some of the examples and facets of work-life include job sharing, telecommuting, sabbaticals, flexible work hours, compressed workweek, and continued education. Nike Inc allows sabbaticals for its employees annually. Employees who have worked with Nike Inc. for five years are entitled for two-week rest while those who have worked with the firm for more than six years are entitled for a one-month's leave. Nike Inc's sales and marketing department and employees are the best paid in the sportswear industry, according to Borgardus (2006). Failure to observe proper work-life easily paves way for dissatisfaction and de-motivation among employees. In another wavelength, Nike Inc or any other organization that is serious about its effective total rewards program must factor its benefit program into consideration. Benefits refer to programs that an employer dispenses to supplement monetary emoluments that are given to employees. Aspects of these benefits include income protection, retirement programs, health and savings. Cichelli (2010) divulges that a well-designed program may not be generic, but needs to customize the diverse workforce which makes up Nike Inc.'s retail and organization. Nike Inc.'s benefit program will help its selling and promotion undertakings since Nike Inc. provides health insurance, disability insurance, life and accident insurance, paid sabbaticals, tuition assistance, product discounts, transportation allowance and discount. ...
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(“Sales Force Compensation Term Paper Example | Topics and Well Written Essays - 1250 words”, n.d.)
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(Sales Force Compensation Term Paper Example | Topics and Well Written Essays - 1250 Words)
“Sales Force Compensation Term Paper Example | Topics and Well Written Essays - 1250 Words”, n.d. https://studentshare.net/management/98685-sales-force-compensation.
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