Type of compensation will each classification of employee

Assignment Help Operation Management

Reference no: EM132156866

After a few years of selling new cars, you managed to get the funding to start your own small new car dealership as a sole proprietorship. Your starting staff of 10 employees will be as follows:

You are the Owner-Manager and will oversee everything. You will also be the Sales Manager and do some selling.

Sales staff. Three sales people reporting directly to you.

Service and Parts Manager. You will have one person supervise the mechanics and detailer.

Mechanics. You will need three mechanics to work on the cars.

Detailer. One person is needed to clean the cars, one to help out the mechanics, and one to work in parts.

Office staff. Two people must be available to answer phones, greet customers, make up the bills and collect money from sales and service, and do other paperwork including bookkeeping. They will report to you.

For this assignment, prepare your responses to the following questions as you design the pay structure for your car dealership:

What type of compensation will each classification of employee receive for their work? Will you give them a wage, a salary, or incentive pay (commissions, piecework, or standard hour)?

Will you give incentives (recognition and other nonmonetary incentives, merit pay, bonuses, profit sharing, gainsharing, ESOPs, stock options, and/or stock purchase plans)?

As the only executive, what will your compensation package include?

What other considerations do you need to work through as you finalize your pay structure?

You will need to present this information in sections - you are designing the pay structure for the above classification of employees. You need to present your responses in a format that presents the information for each classification of employee.

Reference no: EM132156866

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