The establishment of a compensation plan requires credible attention in both management and leadership capabilities. The advocacy is based on the nature of the requirements that are needed to ensure a perfect response to the professional values of a target employee. In essence, the management ensures professional analysis of the requirements to come up with the best package for a target employee that correlated with the job title. Among such factors to be incorporated in the establishment of a compensation package include, but not limited to benefits, salary wage, and terms of payment (Berger & Berger, 2000). A proper establishment of a compensation plan must promote considerable attention to the following factors to ascertain comprehensive compliance with proper employee management. The compensation plan has covered areas such as corporate strategic compensation objectives, job description, and appraisal instruments for the position of housekeeping, financial analyst, and leisure and travel.
Walt Disney World has integrated relevant strategic objectives that would assist in the establishment of the compensation plan. The first objective calls for coming up with budget allocation. The organization plans to influence budget allocation to determine the required compensation on salary, benefits, and other relevant incentives that would be entitled each of the three job descriptions that have been announced vacant in the company. Upon establishing a perfect response to budget allocation, the company strategizes on the development of salary ranges. To achieve this, Walt Disney World has planned to review the committed compensation on the advertised job descriptions by other organizations in the industry.
The organization also plans to facilitate this by considering other factors that affect economic issues within the locality in which the target job position is advertised. Walt Disney World has strategized to use technology in performing industry research on matters related to salary ranges. The use of technological approaches has been planned to be performed by the office of human resource management. With the development of the salary ranges, the organization plans to perform a salary audit. The main factor to consider during the performance of the salary audit is market change.
Understanding changes in the market will assist in learning the competitive nature of the target three jobs as far as their compensation distribution is concerned. The organization plans to recruit prominent employees with accurate levels of professional understandings and skills. For that matter, the company strategizes on using benefits packages for enhancing employee retention. The benefits will be given to the target employees in addition to the strategized salaries to ascertain a competitive recruitment environment.
The company also strategizes on influencing objectives that would promote a performance management system with positive outcomes. This initiative is aimed at ensuring that the recruited employees meet the existing objectives of the organizational existence. The process of performance management will encompass activities such as the establishment of an annual performance appraisal, development of annual goals, and structuring coaching process as well as mentoring of the target employees for the advertised three professional positions.
Maintaining legal compliance with an accurate response to a structured administration is also another strategy that the company is committed to achieving. Complying to legal requirements in the compensation would work to prevent any form of irregularities that relate to minimal wage among other issues. However, all these strategies require a prominent administration with relevant capabilities and understanding to engage accurate management and leadership decisions. For that matter, the company has strategized on ensuring a perfect management and leadership environment with an accurate culture of handling employee matters.
Walt Disney World has a job vacancy for the position of housekeeping. The company has engaged the decision to the job vacancy following the need to promote considerable attention to its dream come true of staying at one of the world-famous resort hotels. The organization acknowledges the need to influence the housekeeping position as the basis of realizing a perfect environment for ascertaining its dream. The organization believes that the housekeeping post would work to create special memories and a home-away-from-home experience for each guest that comes for the organizational services. The associated responsibilities with the position of the housekeeping revolve around performing the overall cleaning of guest rooms.
Among the housekeeping activities in the cleaning of the guest rooms include vacuuming, stripping and making beds, dusting, and replenishing items such as amenities, linens, and various supplies. Additional responsibility for the position of housekeeping includes maintaining interaction with guests on a daily basis, assisting with directions and information sharing, and engaging a timely response to the target customers. For a candidate to be eligible, one must be 18 years and over, be able to lift heavy materials and work with chemicals and work on a full time basis. Other factors that must be given considerable attention by the applicant include bilingual preference, one-year experience, previous housekeeping responsibilities of up to 14 rooms a day, and full availability for a shift seven days a week.
Walt Disney Company has realized the need to recruit a financial analyst to ensure that it meets its strategized objectives in its financial management initiatives. The role of the target employee will be based on the nature of the required activities that the employee will perform during his or her professional commitments. One of the activities includes a theme park, news, movies, and resorts and a cruise line to sport among others. Organizational commitment is also associated with the engagement of technological innovations. In this manner., the role of the target employee and the planned compensation will give considerable attention to technological understandings.
The responsibility of this employee will be subjected to the provision of financial support and analysis for locals and domestic theme parks and resource businesses on a daily basis. To facilitate, the employee works closely with business and operating clients to assist in the delivery of premium guest experiences and values. Furthermore, the target candidate will also develop business unit forecasts, annual operating plans, process improvement and performance measures. The responsibilities of the target applicant also encompass the provision of critical strategic and business development support for the existing business and opportunities for new growth. The candidate must have at least a two-year of experience in the target professionalism. Proven leadership experience.
The candidate must also demonstrate business savvy coupled with a strong understanding of economic, the external market, and competitive forces as well as their impacts on the success, progress and prosperity of the company. The candidate should also process a string knowledge of financial systems and software. Financial profitability and modeling or experience in cost analysis is also a requirement in the advertised position of financial analysts. The candidate must also have a strong understanding of matters related to financial and budgeting planning including experience in financial statements and related operations. All these activities should be made possible using strong interpersonal and communication skills.
The organization also advertises a vacancy in leisure and travel. The organization operates on a 24-hour basis. This means that the required candidates will be entitled to work throughout the year. In this manner, the company plans that the target candidate works within the scheduled timeline of operation. The primary city location is Lake Buena Vista, the estate is FL, the country is the United States. Therefore, given the projected working timeline, the target candidate must come from the city of Lake Buena Vista.
The organization has planned to engage a compensation package for the three positions based on the realized strategies on the subject matter. The strategies consider such factors as industry trends on compensation, associated responsibilities, nature of the activities involved, job group, and the position of the company as far as its financial performance is concerned compared to other companies in the industry. The company plans to ensure compensation packages in such areas as salary, commissions, bonuses, and hourly compensations in the target positions, which include housekeeping, Sr. Financial Analyst, and leisure and travel.
Walt Disney World plans to ensure compensations such as salary, bonuses, and commission for the housekeeping job. The organization strategizes on engaging the salary based on the industry standards on such matters. The average salary entitled to the housekeeping job group in the United States is $25,692 (salary.com, 2019). Therefore, the candidate will be given a salary package of $25,692. The company has also planned to engage all relevant legal formalities in the evaluation of the required salary for the individual. In this, the organization will ensure proper compliance with the minimum wage bill as projected by the Federal government. The organization will evaluate the minimum wage bill on the docket of housekeeping by giving considerable attention to the required hours of work. The proposed salary is considerable enough to maintain perfect compliance with legal formalities that regulate compensation matters in the housekeeping job category.
With regard to commissions, the target housekeeper for this position will be given a commission on any projected positive review from the customers on the realized services related to daily customer interaction, timely responses to customers, and provision of assistance in directions and information sharing. Bonuses will also be entitled to the candidate in the housekeeping position in case of recommendation by the human resource manager as a motivation initiative. Both the commission and bonuses shall be determined by the company’s administration. However, the commissions will be subjected to the monthly salary, while the bonuses will be provided on an annual basis upon realizing a considerable recommendation from seniors.
The Financial analyst job position requires a high level of professional understanding of financial matters. With this in mind, the company has planned to promote its attention to compensation initiatives by considering the amount of committed effort, legal requirements, and market compensation on the financial analyst docket. The candidate will be subjected to the normal working hours as realized by the Employment Act applicable in the United States. The normal working hours for the employee will begin at 9:00 am in the morning and end at 5:00pmn as realized in the legal formalities regulating such matters and applicable in the United States.
The projected working duration will ensure a basic salary of $70,902 per year (Indeed, 2019). This is based on the market trend in the distribution of salaries for professional docket. In addition to the entitled salary, the candidate will be given a house allowance of $3,000, a traveling allowance of $2,000, and other remunerations as shall be agreed upon by the company. There shall also be overtime for any additional working hours that will appear on top of the normal working hours. The amount shall be evaluated based on the projected working compensation per hour by the organizational accountant. The company also plans for bonuses, which shall be based on the management agreement upon reviewing the general performance of the target candidate. However, the strategized bonus for the individual will be realized at the end of the year.
The company has planned to ensure compensation for leisure and travel based in the form of salaries, bonuses, and allowances. Such a decision is based on the nature of the projected activities that are associated with the position. A candidate in this position will be required to work for eight hours a day. The working days will be considered anytime. However, the management of the working schedule will be based on shifts. Nevertheless, the amount of payment will be based on the nature of the time entitled an employee on his or her shift. Those who will be working on the night shift will be subjected to an hourly package that shall be double the day shift package. Leisure and travel salary will be $35,842 (Glassdoor, 2019). This salary is based on the market contribution to the level of professional application and the nature of the involved activities. The projected salary is minimal compensation based on the fact that employees will be working on shifts.
The company will participate in performing performance appraisal activities for all the candidates. The adopted appraisal instruments are based on the strategized methodology of performing such activities in the company. The main intention of this activity is to ensure that candidates are motivated to work effectively for the benefit of the company as well as their success in the organization (Uma, 2019). It will ensure that candidates are recognized for their professional commitments and gained experiences while working in the company. The adopted techniques of establishing the performance appraisal in the company are behaviorally anchored rating scale, assessment center method, and rating scale.
Using the techniques, the first instrument that the organization will always use to perform the performance appraisal is the systematic review. Such reviews will be based on recommendations from departmental supervisors on the employee response in his or her area of professional application. The appraisal tool will be influenced based on the number of times an employee has been compensated with a bonus for positive performances in the field of professional application. Another tool that will also be used in the engagement of performance appraisal for the employees being targeted on the advertised positions is quantitative research (Uma, 2019). This research shall be conducted based on the contributions of all the departmental stakeholders including customers where applicable to the capability of an individual to be appraised in his or her area of work. The tool does not require any consideration of the pay-per-performance incentive program.
The realized plan for the three professional positions has been perfectly established. The assumption is based on the considered criteria that dictated the nature of the portrayed decision in the engagement of the compensation plan. Furthermore, the plan has perfectly aligned with the corporate compensation objectives as well as motivates the performance of the target candidates accordingly. The compensation plan has realized relevant factors that influence compensation decisions such as market structure, professional levels, legal formalities, and nature of the involved responsibilities among others. This level of commitment is a subject of credibility in ensuring satisfactory to both the company and the target candidates for the three positions.
The entitled amounts of compensation are perfectly constituted to ensure the best professionals on the target fields, a factor that would positively impact the organizational gain on the initiative. Therefore, with the influenced commitments in the compensation plan, it is evident that the achieved outcome will positively impact the intention of the recruitment activity as well as the goals of the company and the associated vision and mission of the organizational commitment in its line of business operation.
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