Sign Up Now
Get instant access to over 1 million+ study documents
OR
Already registered? click here to login
By creating your account, you agree to our terms of service, privacy policy and student honor code.
Linking compensation to market pricing evens the playing field for employees.
Does using a job evaluation system for jobs that do not have market pricing data affect the relationship of these jobs to jobs that do have market pricing data? If so, explain how.
Certainly. Components of all job tasks surround performance, but if Sears is going to avoid compression in the workforce and maintain a rewards system, they must find a way to even out compensation structures. For jobs that do not have market pricing, the company must either guess or estimate compensation data, which is likely to be more qualitative than quantitative. Second, it is more difficult for the employee to understand value-based sales volume without a way to price goods to market.
What should Sears do if the market pricing data for a specific job goes down from the previous year? Explain your answer.
Using a compensation system that takes a base wage and adds a commission structure based on market pricing and turn data is a system that must be fluid and constantly evolving. The price of goods is rarely static, and so many factors come into play that result in the necessity for flexibility with the structure. On an annual basis, different items...
The job) was reduced that dramatically. One way to handle a situation if that were the case would be to cross-train and allow high-performing employees the chance to transfer to departments that could utilize their expertise. If an entire job template decreases based on market pricing then it is likely something happened in the industry or to the market on those items, that is not particularly price elastic. One might need to adjust volume goals, or expand lines within that department as well. If the compensation structure is placed on an understandable matrix, though, it will be imperative that motivational tools (training, bonuses, etc.) be used to retain employees within departments with this situation.
REFERENCES and WORKS CONSULTED
Madigan, C. And A. Martinez. (2001). A Hard Road to the Softer Side: Lessons From
The Transformation of Sears. Crown Press.
Meyer, M. (2002). Rethinking Performance Measurement: Beyond the Balanced
Scorecard. Cambridge University Press.
"Sears Archives," 2010. Searsarchives.com. Cited in:
http://www.searsarchives.com/history/history1980s.htm
REFERENCES and WORKS CONSULTED
Madigan, C. And A. Martinez. (2001). A Hard Road to the Softer Side: Lessons From
The Transformation of Sears. Crown Press.
Meyer, M. (2002). Rethinking Performance Measurement: Beyond the Balanced
Scorecard. Cambridge University Press.
http://www.searsarchives.com/history/history1980s.htm
Sears Strategies Sears: Business Strategy and Analysis Sears, officially names Sears, Roebuck and Company, is an American chain of department stores which began its journey to success in the field of mail-order product distribution and has grown to one of the largest and most successful department store chains in the United States. Sears business model has long been attributed to a focus on customer service and satisfaction, and in recent years, Sears
Sears / Kmart Sears and Kmart Sears History Sears began its activity in 1886, when Richard W. Sears created the R.W. Sears Watch Company. After resigning from his job as a railroad station agent, he started selling watches to other agents. In 1887 Alvah C. Roebuck joins Sears. The company introduces jewelry and other products in its catalogue. The company continues to expand its range of products and its area of activity. Sears,
Sears Organization's Strategy And Structure: Sears Holdings is regarded as one of the most significant broadline retailers with more than 4,000 full-line and specialty in America and Canada. The organization is the leading retailer of home appliance, consumer electronics, tools, automotive repair and maintenance, and lawn and garden. One of the major features of this organization is that it operates through its subsidiaries like Sears, Kmart Corporation, and Roebuck and Co.
Sears Organization & Systems Sears Organization The organizational structure of a company reveals a substantial amount of information about its strategy, change attitude, and the environmental and competitive landscape. A company's organizational design should correspond to their core competencies and strategic orientation. Sears is a company focused on stability and prosperity and is an organization that is prepared to embrace change. Organizational Style Overholt (2003) developed a framework for analyzing the organizational subsystems of
Risk Management When it comes to risk management, may people center on things like employee safety concerns, project management, efficiency and other things like that. For example, a risk that many firms would develop is that a lack of efficiency would reduce competitive edge as well as profits. There are other things such as the proper use of equipment that can literally kill people if the wrong things are done. Even
Sears Auto Centre Scandal For a long time, Sears has taken pride on being an auto center service and offering services to consumers. The eight step model proposed by Trevino and Nelson (2014) is a tool that can be employed to assist individuals in making decisions that are ethical. In following these eight steps, one becomes better equipped and well-versed with regards to ethical dilemmas that might be existent in addition