Advanced Remuneration System

Running head: ADVANCED REMUNERATION SYSTEM
ADVANCED REMUNERATION SYSTEM
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ADVANCED REMUNERATION SYSTEM1
Introduction
The essay will be constructed by emphasizing on the case study on The O’Meara
Electronic Company in order to gather all the relevant information and to analyze the advanced
remuneration system. The O’Meara Electronic Company is linked with its sustaining high
market share in Australia for twenty years. It is associated with the general electronics sector and
also acquainted with small markets internationally. The company’s position was declining so
they thought of improving their performance management and remuneration system. As being a
consultant of the organization, it is quite necessary to allow a smooth flow of recommendations
for improving the declining situation. A new set of international strategies and implementing
innovative and latest systems in their brand in Melbourne. Therefore, it is required to provide an
adequate solution to the remuneration system and gathering appropriate recommendations in
terms of position-based and person-based systems. Thus, there are a new set of strategies such as
budget allocation, salary audits, performance management system, benefits package, and
structured administration should be utilized for all the employees. The purpose of this essay is to
generate accurate solutions for the organization. As being a consultant, it is an essential
responsibility to manage the organization by improving person-based and position-based
remuneration systems. Now the question arises what type of help or benefit can be provided to
the organization so that the processes can be secured and developed appropriately.

ADVANCED REMUNERATION SYSTEM2
Discussion
1. Background of O’Meara Electronics Company:
O’Meara Electronics Company has been associated with this business for the past twenty
years and has been successfully occupying high-market status in the industry of electronics in
Australia. It is also occupied with small markets in the international industries. It has been
associated with subsidiaries in South-East Asia and one belonged in Germany for about ten years
back. The company has been appointing electronics engineers and technicians for designing
audio equipment, telephones, televisions, digital cameras, and so on. Other staff members are
appointed in the post for research and development, accounting, marketing, general, along with
the human resource department. The company has been associated with a set of thousand staff
members and only two hundred fifty staff members in Melbourne. The company has been trying
to expand its branches into other European countries.
There was a severe decline in its profit score along with its market position. So a meeting
was held in order to understand the situation and needed an urgent solution to it. Mainly the
performance management as well as remuneration management system was getting affected.
Therefore, some latest and innovative ideas and strategies were required to handle the issues and
to set new recommendations so that the company can arrange an immediate solution to it. Thus,
being a consultant, I was given the responsibility to arrange effective strategies and marketing
tools to rectify the errors and to dissolve the issues without affecting the organization.
It is necessary to understand that where does the problem lies and it was located in the
position-based remuneration system, which will be transferred into a person-based remuneration
system. Therefore, a transformation is needed and it will require an effective strategy to deal