Professional Custom Accounting: Address the diverse needs of the scientific, administrative, sales, management, and technical staff.
You have asked MPBS to describe the most important criteria they would like to see in the new plan and they have indicated they would like to have a compensation program that will: •Help align organizational efforts to the company’s mission and strategic plan. •Recognize, reward and stimulate good and excellent performance. •Be considered fair and equitable by as many company personnel as it is realistic to expect. •Withstand legal challenges. •Be cost effective. •Address the diverse needs of the scientific, administrative, sales, management, and technical staff. MPBS recognizes that they have taken a very haphazard approach to employee benefits and have asked you to ignore the benefits they now provide as you develop a new employee benefits package for the company. Your consulting team has met and worked up the framework of the report that should be submitted. In addition to employee benefits, it must provide for annual adjustments to base pay, whether salary or hourly wage, and a pay for performance plan. MPBS management has asked you to design the total compensation plan that will cover all employees located within the United States in detail first, then follow that detailed plan with recommendations on how it should differ for employees living and working in Germany and in Japan.
