Supplemental Short-Term/Long-Term Incentives Plan
Compensation, Benefits, Reward ,Recognition Plan for V.P. Operations
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
Short-term incentives are the annual rewards that Blossom Up Company will compensate the executives for attaining the company’s short-term goals. The company will offer a yearly salary of $190,000 to the vice president of operations, and this salary will be reviewed everyone a half year based on the 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…
(200 words)