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Summary MT203 01 Unit 7 Assignment.docx MT-203 Evaluations, Compensation, and Firm Objectives Purdue University Global MT203: Human Resource Management “01 Braintrust Toys mission statement is to œexpand the minds of children 1 month-100 years old . They$7.49
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Summary MT203 01 Unit 7 Assignment.docx MT-203 Evaluations, Compensation, and Firm Objectives Purdue University Global MT203: Human Resource Management “01 Braintrust Toys mission statement is to œexpand the minds of children 1 month-100 years old . They
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MT203 01 Unit 7 A MT-203 Evaluations, Compensation, and Firm Objectives Purdue University Global MT203: Human Resource Management “01 Braintrust Toys mission statement is to œexpand the minds of children 1 month-100 years old . They have decided to change their strategy from a product ...
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MT-203
Evaluations, Compensation, and Firm Objectives
Purdue University Global
MT203: Human Resource Management–01
Braintrust Toys mission statement is to “expand the minds of children 1 month-100
years old”. They have decided to change their strategy from a product development to an
innovative strategy and have let go of many of their employees due to the new ways of
making toys. Their current compensation plan has been based on time spent with the
company, with the recent changes to strategy, objectives and downsizing of employees due
to new ways of working, the compensation and evaluation process must be updated.
The best way for the company to link their compensation and evaluation process to
the new objectives and innovation strategy is to create an incentive plan that rewards the
behaviors needed to reach the new company objectives. One way to do this is to create an
incentive plan. Incentive plans are designed to energize, direct, or maintain an employees’
behavior. (Noe, R. A., Hollenbeck, J. R., Gerhart, B., & Wright, P. M. 2020)
Profit-sharing is an incentive pay in which payments are a percentage of the
company’s profit and are not part of the employees’ base pay. (Noe, et.al, 2020) This
incentive plan will help motivate the employees to reach the company’s objective of
launching 15 new products to appeal to new customers and markets, helping the company
grow their profits. Profit-sharing
encourages employees to think of what the company needs to do to reach the goals. (Noe,
et.al,
2020) Braintrust will need to survey the employees to determine if profit sharing is the
best motivating incentive for their employees.
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