Final Total Rewards Management Report

Sales Force Compensation

Tonya Palmer

Dr. Gary Lorenzo Wash

Total Rewards

February 17, 2019

Sales Force Compensation

Introduction

WorldatWork refers to a global association focusing on human resource management experts and business leaders. Its main objectives revolve around the attraction, motivation, and retention of employees. The total rewards provided by the organization are six in number, but the paper will focus on five. They comprise of work-life effectiveness, professional development & recognition, talent development, compensation & benefits, and performance management.

The Total Reward Components by WorldatWork

Compensation and Benefits

These are the first total rewards in the tool kit of WorldatWork. When one talks about compensation, it is significant to identify possible approaches used by an organization to provide its employees with salaries, remunerations, and allowances among other benefits. It comprises of hourly wages and base salaries.

Additionally, it may include benefits such as bonuses and profit sharing after a company has done well in the market. Benefits also have reference to options and mandatory programs provided to employees. Compensation and Social Security is an example of necessary programs. Compensation and benefits are significant for motivating high performance among the sales force. When an organization can provide the best salaries and benefits to employees, they may spend a substantial amount of time (extra hours) without complaints to deliver the required services and products for the market. Employees may become loyal and may have active engagement in the decision-making process (Zhou, Zhao, Tian, Zhang, & Chen, 2018). This means that an organization will have the capacity to deliver the desired sales results within the shortest period and use limited resources in doing so.

Work-Life effectiveness

The reward has reference to the provision of employees with opportunities to meet their professional goals. This may be seen through an example of allowing employees to either come to their work early or leave late. The reward may occur to enable them to deal with their issues. They may have involvement in getting their kids on the bus and having to attend school events belonging to their children. Employers have the powers to establish programs that allow employees to volunteer on a part-time base. Another provision may include stress-management resources. The above reward is significant in ensuring that employees can manage and balance their lives in the professional sector and the domestic environment. It facilitates them to develop good relations with their family members while at the same time perform well in the workplace (Dhar, 2015). Employees have an opportunity to grow and meet personal goals besides having work to do relating to their employers.

Professional Development & Recognition

It deals with opportunities relating to the learning and advancement processes. It provides employees with tuition reimbursements, defined advancement tracks, and mentorship programs. An organization may decide to cover costs for employees to receive the needed online course. Recognition entails acknowledging the performance of employees. Employees perform well when they are recognized. This is because they tend to think that an organization appreciates their position in the workplace. Professional development motivates employees to feel that an organization wishes them well and is involved in making them grow in terms of their careers.

Talent Development

Talent development involves the process of ensuring that employees can develop their expertise and talent through mentorship programs and training capacity. The reward works in the same way as the professional development reward. This is because it focuses on talent. Employees may be endowed with strengths in sports, art, music, and dance. An organization such as WorldatWork which focuses on the talent development of employees may develop them wholly. They may become significant people who may create change in their workplace and their social environments (Mamede, Ribeiro, CIGS, Gomes, & Rego, 2014). Talent development provides employees with satisfaction knowing they have an opportunity to grow their strengths and personality.

Performance Management

Performance management looks into the way employees work and delivers professional results in their workplaces to ensure the development of an organization. It focuses on strategies employed by employees to ensure that their organization remains competitive. Employees should have the capacity to become independent and to be engaged in decision making in the organization. This makes them feel valued in driving the organization forward. It influences employees to become careful in delivering services and products to the market.

The Behaviors of the Salesforce as per the Compensation Plan

It is crucial to note that the compensation plan directly impacts the sales force in an organization. The compensation plan may be used to determine the amount of products sold and the profits generated by the compensation plan. The way a sales team receives compensation determines the bottom line of an organization. With the above in place, it is important to note that not every compensation plan is perfect. The are numerous pros and cons that impact the behavior of compensation plans on employees. Employees are provided with a commission for them to become motivated to sell more products and services.

A well-designed sales compensation framework reinforces an organization way of achieving goals. It ensures that an organization acquires the desired strategic plan. It takes into account the various conditions that affect the ability of a company in producing results about sales. Salespeople have the capacity of competitors in their nature. They always want to win. This makes it mandatory for an organization to focus on knowing the direction of its business. The main reason is that the business may end up in the wrong hands and the wrong direction (Greguras & Diefendorff, 2009). The organization’s sales incentive should be simple in the business environment. Despite the above, it is crucial to consider the different factors that are involved in affecting the behavior of people. This occurs when it comes to considering the effects of performance. It also looks into the incentive pay affiliated with performance measure. In the case of behavioral traits of the salesforce, a compensation plan should link the incentive pay and the performance of the salespersons as reiterated above.

The above strategy is undertaken to avoid behaviors that are unexpected during the sales process. Some of the significant salesperson behaviors may be several. Among them include objectivity, reliability, clarity, communication, and fairness. Others may comprise of quantity, informativeness, measurement review, and agreement. This means that organizations through their compensation plans should measure the outcome of the behavior of their salespersons. This makes it possible for an organization to operate well without having to worry about the salespersons (Vispute, 2013). A compensation plan that looks into the performance of the employees may influence others to continue working hard and to provide the organization with the needed results. It also initiates transparency and effective communication among the various individuals that work as salespersons.

Value Proposition and Achievement for Employees

The value propositions, in this case, are the guiding principles towards the situation. Value proposition refers to the capacity of employees to deliver the best results in their work environment and to become relevant in their social settings. It is crucial to note that the employees that leverage a total rewards package may turn out to be the best employees in the professional environment. This is because a fully satisfied and motivated employee can create change in the organization they work for daily. An employee who receives the needed remuneration package and benefits may be able to remain loyal to an organization in the future and current status of the organization. It may become hard for competitors to porch such employees from an organization they work for in the market. When it comes to training, employees are always in need of advanced knowledge to better their careers (Inabinett & Ballaro, 2014). These skills are not only applicable to them but organizations at large. The organizations in the market depend entirely on the skills provided to them by their employees for them to become relevant in the market.

The above factor means that employees have to be trained to provide advanced skills that boost the competitive status of the organizations. Therefore, training provides an organization with a future capability of becoming a change marker in society. Talking of talent development, employees have other skills that are not associated with their professionalism. An organization that focuses on strengthening their talents motivates employees to remain competitive and for them to perform well because they feel valued by an organization. Talents may be used to improve the corporate social responsibility of an organization and market the organization to the market.

Work-life effectiveness if leveraged ensures that an employee becomes a person who can balance the career and personal life. It gives one an opportunity to define their strengths and use them to improve the professional environment (Ozolina-Ozola, 2014). This serves as an advantage to the performance reward points. Employees can become diverse in terms of handling their work and their personal lives. Recognized employees can feel appreciated, and they may continue to perform well amidst challenges affecting their professional environment. From the above, it is evident that the process of leveraging a total rewards package by employees influences them to become valuable in the market.

Type of Plan to Create at WorldatWork

The organization has done an excellent job through the introduction of its rewards package. When it comes to my additions, I will look into a plan that focuses on aligning the organization’s objectives with family values. An organization is a massive component of employees that function as a family. The organization represents a family unit while the CEO and the senior managers represent the father and the mother. WorldatWork’s employees represent the children, and its competitors may refer to the stakeholders around it such as neighbors. The operations of the organization relate to the daily life of the family. With the above analogy, the plan focuses on developing strong relationships among employees. It focuses on creating effective communication and transparency in conducting decision making. Employees need to have an open door family whereby they can communicate with each other about but using professionalism ethics. Employees should think of their positions and relationships with colleagues as necessary in the current and future development of their organization.

During social events at the organization, it is crucial for the employees to feel that they are home and they may be free to interact with everyone without having to feel limited in their capacity (Ozolina-Ozola, 2014). This means that they may have the opportunity to bring their children to such events and letting them play with each other. It is through the above that an organization can become a full component in terms of acquiring its desired results and the goals of its employees.

When it comes to future salespeople, they are sorted. The plan attracts them to remain loyal to the organization and their colleagues. The salespeople may consider selling the goods as their own. This means that they may try as much as possible to ensure that they do not make mistakes in their work. They will create various opportunities in the sales processes that may lead to revenue generation and the boosting of profits. Salespeople may also create a dynamic way of relating to customers which may increase their capacity to sell more products in the market. This may influence growth and at the same time ensure that the salespeople can be promoted for their contribution to the professional environment of their organizations.

Conclusion

It is significant to understand that WorldatWork has done an excellent job trying to create reward packages for the market. This creates a saleable aspect among products and the people involved in making it possible that products reach the market. Salespeople can focus on their value in the market while such an organization can create a value proposition that is advantageous to its current and future growth. When an organization has an effective plan, it means that it becomes relevant in its operations.

References

Dhar, R. (2015). Service quality and the training of employees: The mediating role of organizational commitment. Tourism Management, 46,, 419-430.

Greguras, G., & Diefendorff, J. (2009). Different fits satisfy different needs: Linking person-environment fit to employee commitment and performance using self-determination theory. Journal of Applied Psychology, 94(2), 465–477.

Inabinett, J., & Ballaro, J. (2014). Developing An Organization By Predicting Employee Retention By Matching Corporate Culture With Employee's Values: A Correlation Study. Organization Development Journal, 32(1), 5-12.

Mamede, C., Ribeiro, N., CIGS, E., Gomes, D., & Rego, A. (2014). Leader’s moral inteligence and employees’ affective commitment: the mediating role of transformational leadership. In XXIV Luso-Spanish Conference on Scientific Management, 3-11.

Ozolina-Ozola, I. (2014). The impact of human resource management practices on employee turnover. Procedia – Social and Behavioral Sciences, 156, 223 – 226.

Vispute, S. (2013). Recruitment strategy and employee retention in Indian banking and insurance sector. International Journal of Arts & Sciences, 6(2),, 743-746.

Zhou, L., Zhao, S., Tian, F., Zhang, X., & Chen, S. (2018). Visionary leadership and employee creativity in China. International Journal of Manpower, 39(1), 93-105.

Thanks for completing and uploading your assignment for review. It’s our third assignment with only two left to go. As I reviewed your work, I could clearly see that you have presented information and thoughts that have added some value to the main topic expectations for the paper. Please note some additional findings below.

· The introduction section should not have a heading called introduction and the heading should not be bold text. Also not that the introduction section is misleading as it does not fully tell the reader what the entire paper is about.

· Citations throughout the paper are not set up correctly according to our course rules.

· You have many citations claiming to represent certain information from sources, yet you have not properly identified the words for your readers. This is very necessary and required.

So, that sums up the feedback Tonya. I want you to know that you have done quite well with this assignment. Work on the above issues and you will do great next time. We still have 2 assignments remaining, so dig in and prepare to do your best work. Don’t lose sight of the fact that there are numerous tools and information available to help you succeed. But as well, I, too, am always here to support your success.

If there are any questions at all regarding the feedback, please let me know.

Dr. Wash