This is a team assignment and the one in bold with the smiley face is mine…..I need it to be approx. 150 to 200 words
Resources: Blossoms Up! Case Study and Measure Compensation’s Impact
Part of Smith’s idea for Blossoms Up! strategic organizational objectives is the creation and hiring of a Vice-President of Operations. The position will oversee the company’s transformation to a high-technology entity in all phases of the business. Based on the job description completed in Week 1 and considering other factors that should be included in total rewards for this position complete the following
Intro/Conclusion, Editing, and Posting – Allison
Design an executive compensation package for this position linked to this strategic organizational objective.
Include the four general components of executive compensation:
- Base range salary:
- Standard employee benefit plans
- Supplemental short- and/or long-term incentive compensation plans
- Perquisites
Answer preview
performance achievements. The company will also offer a discretionary bonus for meeting tight deadlines of the floral orders since the management understands how much output is needed in such circumstances. On the other hand, the company’s long-term incentives plan will depend on the sustained performance of the vice president of operations of more than two fiscal years. Blossom up will offer a retirement plan (401) k whereby for every five years of service in the company, the vice president will attain a 100% of the retirement contribution. The amount will increase annually after the five years are over. Still, the company will offer performance shares to the vice president of operations every three years based on the operational performance metrics (Milkovich, et al., 2002). Generally, Blossom Up focuses on attaining and retaining a good working relationship with its executives.
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