Staffing and Compensation Plan – Golding Enterprises

Staffing and compensation Plan

This Paper demystifies the concept of staffing and compensation plan for small size family business that deals in computer repair. It entails a well-defined staffing compensation plan. The purpose of this assignment is to simulate the thought process that managers use when planning for staffing and compensation process for work forces. The planning and compensation report discusses the planning needs of the organization and thoughtfully discusses each of the listed items that expounds on the plan. A staffing and compensation plan is a tool that is used by an organization to arrange ad organise, analyse and respond to the specific staffing gaps. Staffing and compensation planning is a systematic process that ensures that an organization has the right number of workforce with the right skills to accomplish the business needs (Dagdeviren, 2015). The plan takes into account the organizational internal and external changes and must integrate the staffing and compensation planning with the organization’s business plan.

Below is a detailed staffing and compensation plan for Golding Enterprises, a small scale family business that deals in computer accessories and repairs.

Staffing and Compensation Plan

The plan below is a planning and compensation proposal for a small family business that deals with computer repairs. The organization that is run by the family is revenue based is a sole proprietorship business that does not have a human resources department and is in its growth stage.

Overview of the organization

Golding Enterprises was established founded in 2004 by three brothers and a sister of the Golding family. The three brothers and experiences computer technicians with a broad experience in the repair and overall overhaul of computer hardware while the sister is a marketing guru in the technology sector.

  • Dedication: The small scale company thrives to providing the best possible experience to all its clients and business partners.
  • Culture: Basing on its size and family ownership, all its employees are partners in the firm and are part of the organization’s successes and help the firm sustain the core values that make it progressive.
  • Structure: The organization has a flat structure and consists of three tiers, that is, the owners, the manager and the workforces.
  • Mission statement: to ensure that every client is given professional, courteous, friendly and prompt service.  Also to maintain a friendly and professional environment for all clients and staff. To also ensure that all clients and staff are treated with dignity and respect they at most deserve. By maintaining these goals and objectives, the company shall ensure a productive and optimal profit that will allow the organization to contribute to the community it serves.
  • Vision statement: it aims that in the next five years, it will become the leading provider of services and products to small and medium businesses by providing user friendly, customized solutions scaled to medium and small business needs. Its other mission statements are based on integrity, responsibility and profitability.
  • Present Goals: The organization’s current goal is to reduce the distribution and delivery time of services and products and to also reduce the frequency and number of complaints from clients and to improve the response time of client enquiries. To reduce the turnover of employees by 20% by introducing a staffing and compensation plan and to improve productivity by implementing a comprehensive training program and to actively recruit skilled workforces into the company.

 

Basing on this, it is important to conduct a brief SWOT analysis.

Strengths

Good business reputation

Superior brand

Positive cash flow.

Weaknesses

Aging of the experienced management

Expensive advertising

Insufficient diversified streams of revenue

None updated services and products

High prices on sourcing of raw materials and products

Opportunities

Expansion to international waters

Partnering with mutual stakeholders so as to expand services

Advancement in technology

Threats

Changes in demographics

Relationship between the public and private sector that is unproven.

Changing preferences and needs of stakeholders

The plan

Need assessment: from the assessment of Golding Enterprises, there is need for conducting a new staffing process, training of the new staff to the current technological trends. The other need is the recruitment of younger professional staff to take over the position of the aging staff in the organization (Mader, 2013). The next issue is to enhance diversity in the recruitment of the workforces by not only dealing with the family members but also recruit non-family members to enhance innovation and productivity.

The management must consider the following strategic issues in the plan: Staffing, succession, compensation and diversity of employees and management.

Staffing

The organization has to conduct a recruitment process that is free and fair. It must ensure that the employees that are recruited are qualifies and are professionals in the various fields that are required. The organization must come up with clear job descriptions for the various job positions and a clear list of qualifying skills and requirements (Mader, 2013). The process must be independent and transparent to ensure equal opportunities to all the applicants and thus will ensure the most qualified and appropriate workforces recruited. Qualified candidates must be evaluated and taken through orientation on the company’s core objectives, mission, vision and values so that they support the strategic plan of the company, communication, customer service, decision making, staff engagement, interaction and satisfaction.

Succession and Compensation

Compensation is done through the award of salaries, wages and other benefits. The organization must provide the staff with all the benefits as appertains to their agreed terms of reference and conditions (Wooldridge, 2015). The hiring and succession plan must address the workforce candidate evaluation, orientation and training, the key positions in the organization and the assessment of interests.

Diversity of employees and management

As stated above, the companies biggest weaknesses in the aging professionals in the sector who are due to retire and the aspect of the businesses top management being from the same family (Wooldridge, 2015). The plan here is to diversify be recruiting young professionals who will undergo training and mentored by the almost retiring group and also recruit staff from diverse backgrounds and not necessarily from the family and the company endeavours to expand internationally.

In conclusion, any strategic staffing and compensation plan must be comprehensive and must be of benefit to the overall performance and productivity of the organization. It is a map that outlines the staffing and compensation requirements of the organization. It also helps to organization to make good staffing decisions, for instance hiring out of emotions rather than for the organization’s needs.

Order Unique Answer Now

Add a Comment