Recommendations to Improve Compensation Program System at EPCOR Company

Running head: HUMAN RESOURCE MANAGEMENT
HUMAN RESOURCE MANAGEMENT
Name of Student
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Author’s Note

1HUMAN RESOURCE MANAGEMENT
f. Some recommendations to the executive of EPCOR Company in order to
improve their compensation program system are as follows
Compensation program system is a process which systematically approaches to provide
monetary value to the employees of a company. This particular company requires some
recommendations on improving their compensation program system. The steps are as follows
 Payment structure of employees and incentives: The salary of a particular
employee compensates him for performing the tasks they are provided and also
provides them with a consistent income (Truxillo, Cadiz & Hammer, 2015). The
incentive structure of the company would help the employee to motivate himself
to meet as well as exceed their goals and would give them the opportunity to
increase the amount of money they earn. A stable salary should be decided by the
company, this would help them to attract employees who are ready to work for
the organization. Incentives structure should also be planned by the organization
which would help them to gain the loyalty of the employees. Hence it is
recommended that the payment structure should be set and an incentive structure
should also be introduced, this would help the employees to get motivated and
give their best.
 SMART goals should be established: SMART goals can be defines as Specific,
Measurable, Ambitious, Realistic and Time bound goals. The company should
establish certain monthly as well as annual revenue goals. The goals should be
established such that they are clear for each and every organization (Webster,
Beets & Weaver, 2015). The employees belonging to different departments