Industrial Electronics Bonus

Industrial Electronics, Inc. Is an electronic equipment company that has annual sales exceeding $ 8 Billion. The company is set up by product line and operates as 16 divisions, reporting to four business managers. Unfortunately, due to the recession and the competitiveness of the emerging and developing industry, the bonus pool for the employees has decreased causing Issues with employee morale, and can overall affect the profitability of the organization If the company analyzed the ROI of turnover and training.
Therefore, the company reviewed the current bonus structure and proposed a new bonus structure for the Division Managers, as they currently felt their contributions to their departments was not being rewarded. The current bonus system focus on the overall goals of the company. Although it is essential to set and communicate company goals, having this one structure as the only measurement for bonus can be detrimental. If one or a few departments contribute to the company not achieving their goals, this means that all employees and departments are not being recognized for their contributions.
The current goal is a 10% bonus pool of the company’s profitability after taxes in excess of 12& of the company’s book net worth allocated for the bonus pool. The proposed bonus structure Is set up to drive the performance more directly related to the division, but not does not focus on any overall company goals. In order to stay in business the overall goals and financial metrics need to be a part of the bonus system. The targets for this new structure are set and negotiated during the budgeting process.

If the division managers are going to be held to achieve and/or et these standards their input should be taken into consideration during the budgeting process if they are not directing Involved or responsible for the budgets. This will allow the organization to have the buy In and accountability from the Division Managers and their employees throughout the year in achieving these targets. This will also allow for employees to be more responsible for controllable cost and waste.
The proposed bonus system percentage awards of the Division Managers Base Salary would be: Dillon A : 63. 5% 150% (this is the maximum amount payable) DiViSion B. Division C: 63. 7% Division D: 68 Division E. 26. 2% An optimal bonus plan for Industrial Electronics, would be one that comprises both and success overall in order to pay out bonus and provide employment, but they can drive this overall company success also through operational excellence, key metrics and standards at the divisional level.
Therefore, the bonus plan should include company objective and division objective. The divisional objectives should be directly related that divisions related business relevance to the organization, with set key performance indicators which can include sales, output, controllable costs as labor, reduce costs, waste, turnover, etc. The bonus plan also should not be structured as an all aqua r nothing.
For example, maybe it the division does not achieve it sales goals but maintain the controllable expense in accordance with the achieved sales, they receive a partial bonus. If the division does not hit its target but the company does the employees still received a portion of the bonus, as they are part of the organizational teams overall success. Their individual performance behaviors or lack thereof, should be addressed during their buy seines reviews and/or salary review and increases.

Calculate the price
Make an order in advance and get the best price
Pages (550 words)
$0.00
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Upload your instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with MyhomeworkGeeks
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
Testimonials
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.
BUSINESS LAW
excellent job made a 93
Customer 452773, March 22nd, 2023
ACC543MANAGERIALACCOUNTINGANDLEGALASPECTS
excellent
Customer 452773, January 25th, 2024
Business and administrative studies
Excellent job
Customer 452773, March 9th, 2023
Leadership Studies
excellent job as always
Customer 452773, September 2nd, 2023
Business and administrative studies
Thank you
Customer 452773, March 19th, 2023
Business and administrative studies
excellent paper
Customer 452773, March 3rd, 2023
Human Resources Management (HRM)
excellent
Customer 452773, June 25th, 2023
Social Work and Human Services
Although it took 2 revisions I am satisfied but I did receive it late because of that.
Customer 452603, March 25th, 2021
Human Resources Management (HRM)
excellent, great job
Customer 452773, June 19th, 2023
Business and administrative studies
perfect
Customer 452773, February 23rd, 2023
Criminal Justice
The paper was not accused of plagiarism and was written very well. I will let you know the grade once it is graded. Thank you
Customer 452671, April 26th, 2021
Managerial Accounting & Legal Aspects of Business ACC/543
excellent work
Customer 452773, February 7th, 2024
11,595
Customer reviews in total
96%
Current satisfaction rate
3 pages
Average paper length
37%
Customers referred by a friend
OUR GIFT TO YOU
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat
Close

Sometimes it is hard to do all the work on your own

Let us help you get a good grade on your paper. Get professional help and free up your time for more important courses. Let us handle your;

  • Dissertations and Thesis
  • Essays
  • All Assignments

  • Research papers
  • Terms Papers
  • Online Classes
Live ChatWhatsApp