The challenges Sportsman Sports will face include altering their current compensation practices to align with their new business strategy, during and after the transition. The new employees that the company will need to hire will create some compensation challenges. In order to attract new talent, the company will need to ensure there is a compensation plan that is competitive in the job market. Sportsman will also need to keep the compensation plan consistent internally at the same time. The company must re-evaluate their internal consistency to determine the value of the potential altered job descriptions of the previous employees and the jobs of the newly hired employees. Consistency, which also entails simplicity (i.e., everything follows
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According to a 2016 Gallup study, more than half of working Americans say they get a strong sense of identity from their job. It’s not just a paycheck; it’s part of who they are. When we tell persuasive stories and give employees a place to figuratively “hang their hats,” employees see a better vision of themselves—one better than the present. Connect the dots and show potential contributions, opportunities, and performance focus areas in a new light, and voilà, that team feels connected to the larger company trajectory, gets less frazzled when things need to change, and understand what’s in it for them— and then they give a true 100 percent effort. (Szuts, 2017). The performance of the company will be evaluated by what is accomplished and how it is accomplished. Regular coaching and feedback from management helps to effectively communicate the new company brand, and job expectations of each employee (FedEx, …show more content…
They will also want to recruit for the very best candidates within their respective fields by offering signing bonuses, better pension programs and better benefits packages. In essence, Sportsman’s Shoes must take into consideration the different ways they compensate their employees if they want to keep experiencing success. There also must be a consideration for how changes are made, and how they align with the company’s mission and goals, and how each employee is a vital link to the chain of success for the company.
References
Abraham, M., Kaliannan, M., Mohan, A. V., & Thomas, S. (2015). A REVIEW OF SMEs RECRUITMENT AND SELECTION DILEMMA: FINDING A 'FIT'. Journal Of Developing Areas, 49(5), 335-342.
Baron, J. N., & Kreps, D. M. (1999). Consistent Human Resource Practices. California Management Review, 41(3), 29-53.
Cole, C. L. (2000, August). Building loyalty. Workforce, 79, 42-47. Available EBSCOhost full
According to a 2016 Gallup study, more than half of working Americans say they get a strong sense of identity from their job. It’s not just a paycheck; it’s part of who they are. When we tell persuasive stories and give employees a place to figuratively “hang their hats,” employees see a better vision of themselves—one better than the present. Connect the dots and show potential contributions, opportunities, and performance focus areas in a new light, and voilà, that team feels connected to the larger company trajectory, gets less frazzled when things need to change, and understand what’s in it for them— and then they give a true 100 percent effort. (Szuts, 2017). The performance of the company will be evaluated by what is accomplished and how it is accomplished. Regular coaching and feedback from management helps to effectively communicate the new company brand, and job expectations of each employee (FedEx, …show more content…
They will also want to recruit for the very best candidates within their respective fields by offering signing bonuses, better pension programs and better benefits packages. In essence, Sportsman’s Shoes must take into consideration the different ways they compensate their employees if they want to keep experiencing success. There also must be a consideration for how changes are made, and how they align with the company’s mission and goals, and how each employee is a vital link to the chain of success for the company.
References
Abraham, M., Kaliannan, M., Mohan, A. V., & Thomas, S. (2015). A REVIEW OF SMEs RECRUITMENT AND SELECTION DILEMMA: FINDING A 'FIT'. Journal Of Developing Areas, 49(5), 335-342.
Baron, J. N., & Kreps, D. M. (1999). Consistent Human Resource Practices. California Management Review, 41(3), 29-53.
Cole, C. L. (2000, August). Building loyalty. Workforce, 79, 42-47. Available EBSCOhost full