Compensation and Benefit Strategies for Simply Literature Production

This report analyzes the compensation and benefit strategies of Simply Literature Production Company, focusing on how compensation influences employee behavior and supports business objectives. It identifies strategic objectives, such as high-quality products and customer service, and recommends compensation plans that reward these goals. The report examines the company's structure, workforce, and technological integration, proposing improvements like training programs and the introduction of e-commerce. It evaluates the role of compensation in reflecting company values, market realities, and growth strategies, suggesting a compensation mix that includes performance-based incentives, cash bonuses, and a competitive base salary. The report also addresses compensation levels, employee grades, and communication strategies, emphasizing the importance of transparency, employee feedback, and clear roles and responsibilities. Finally, it suggests improvements for employee retention and customer satisfaction through salary adjustments, bonuses, promotions, and customer engagement. This report provides a framework for developing a more effective compensation system to align with the company's strategic goals.

Running head: COMPENSATION AND BENEFIT 1
Compensation and Benefit
Student Name
Institutional Affiliation
s

COMPENSATION AND BENEFIT 2
Compensation and Benefit
Role of Compensation in producing behavior in Simply Literature Production Company
Variables Analysis Recommendation(wha
t must be done to
improve)
Justification other
Business
strategy
High-quality
product
100 percent
customer
services
Meet customer
specification
Identify the company’s
top compensation plan
that identifies strategic
objectives. It should
reward and recognize
the company’s top
strategic objectives
Strategy needs to
direct
High role
Size Medium sided
production
company
Develop a long term
plan for the company
Moderate role Open other
stores to allow
customers get
products from
their localities
without having
to travel to the
main store.
This will result

COMPENSATION AND BENEFIT 3
to business
expansion
Train more
workers to
become skillful
and increase
quality of
goods and
services
Technology Binding
materials
Cover stock
High-grade
paper
High role Introduce
technologies in
their system
such as online
marketing to
reduce the
travelling by
sales
employees and
instead reach
several
customers
through e-
commerce.

COMPENSATION AND BENEFIT 4
Offer
incentives for
sales personnel
for the tiring
work they do.
Introducing or
hire more
specialties in
accounting,
human
resource and
marketing to
handle in most
of the task to
enable smooth
running of the
company.
Workforce 120 employers
in production
Few
supervisors
Several sales
personnel
Review the roles of all
employees and their
responsibilities
Develop a viable
communication
strategy
High role The company
should employ
other workers
such as
supervisors,
come up with

COMPENSATION AND BENEFIT 5
One book
keeper
Several office
employees
handling
administrative
tasks
an elaborate
structure that
outlines their
roles and
responsibilities
spelled out.
This will allow
the supervisors
to work
according
instead of
contradicting
each other
Schedule
production for
all production
employees to
follow
according to
improve
production
Develop a
channel of

COMPENSATION AND BENEFIT 6
communication
that allows
employees to
report theoir
problems to the
supervisors
instead of
direct
communication
to the owner
Allow
decisions to be
made by
supervisors in
every
department. i.e.
supervisors to
solve issues
dealing with
production
while the
owner to deal
with

COMPENSATION AND BENEFIT 7
managerial
tasks
Behavioral Objectives for Compensation Systems
Analysis Recommendation Justification Other
Role of
compensation
It will reflect the
company’s
values
It will reflect the
economic
realities, the
market shares
and pricing
structure of the
company
Consider the
business
standards,
growth strategy
of the company
Promotion
decisions
Corporate
Motivates
employees
Reduces turnover
Enlightens
employees on the
company values
Improves
production and
overall
performance of
employees
It instills values
on employees
through
compensation
culture
High role

COMPENSATION AND BENEFIT 8
culture
Account for
business
standards
Offer a basis for
continuous
hiring process
Compensation
mix
Offer long-tern
payable
incentives based
on the
performance of
employees
Cash bonuses as
a form of annual
incentives
Supplemental
incentives paid
according to
Performance
Base salary in a
fixed level
It establishes a
positive
reputation for the
business
Increases moral
satisfaction
Enables the
business to
achieve both
external and
internal equity
Encourages the
company loyalty
thus reducing
turnover
It attracts skilled
High role

COMPENSATION AND BENEFIT 9
labor to the
business
Compensation
level
Evaluate grades
for employees
and rank senior
employees in
each department
The ranking
needs to be
verified based
on the business
forecast plans
There is need
salary
administration
policy
It determines the
necessary
performance
measures
Determines
formulas for
compensation
Offers alternative
considerations
Develops
transparency
within the
business
Required
behavior
Good
communication
skills
Moral skills
Competency
Update a
communication
policy manual
and design
updated
communication
meetings
High role Have formal
methods to
manage pay
such as an
elaborate payroll
with consistent
pay rate for

COMPENSATION AND BENEFIT 10
every employee.
Reduce turnover
rate by listening
to employee
demands.
Raise employee
salary and
communicate
appropriately.
Introduce
bonuses and
incentives.
Introduce
promotions to
employees who
perform well to
retain them in
the company.
Reach out
customers and
listen to their
demands as well
as improve on

COMPENSATION AND BENEFIT 11
the entire
services to the
customers