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Essay / Research Paper Abstract
This 3-page paper is a case study explaining compensation and employee retension for El Dorado, a company that manufactures canoes. Topics discussed include non-financial compensation, data collection and rewards for management and salaried employees.
Page Count:
3 pages (~225 words per page)
File: D0_MTeldora.rtf
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Unformatted sample text from the term paper:
persuaded to venture into kayaks, with Micky Fields hired to establish a formal marketing department. Fields began bringing in so many large orders the company had to contract with other
manufacturing company to keep up. While Barron believes workers have been given adequate raises to compensate for the faster work pace (even
turning down a request from the plant supervisor for an increase in pay), he has recently heard complaints from the shop floor about inadequate pay. Furthermore, a new metal parts
offering a slight higher wage lured away three of his best workers and several managers have also approached Barron requesting a salary adjustment - and two top designers they would
be interested in equity (part ownership)where they would receive a share in profits if their design did well. Barron response was to give a modest pay, extra vacation and a
increased bonus for both designers. Both seemed satisfied with the new arrangement. El Dorado CFO on the other hand left the company to take up a position after being turned
down twice by Barron for a redesigned compensation package to include equity, and Fields has been overheard discussing a new job opportunity with another company.
Barron is wondering if his company has grown to the point where he needs to establish some kind of formal compensation system to recognize employees who make
outstanding contribution to the companys success. 1. Does El Dorados current compensation system seems to fit the companys strategy of aggressive growth and product innovation? How might it be changed
to achieve a better fit? No - the current compensation system is outmoded and outdated, based on the companys past during which
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