Developing a compensation plan for a new sales

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For the purposes of this assignment, you are a sales manager for the food chemical division of Air Products (http://www.airproducts.com/products/Chemicals.aspx). You are tasked with developing a compensation plan for a new sales force that you will be hiring to sell a new line of food additives that will preserve food for a period of five years. Use Figure 12.1 Stages in Developing a Compensation Plan in your textbook (Chapter 12) as a guide in the development and formatting of the plan. Additional information on Air Products is available on the following webpage: (http://www.airproducts.com/microsite/2013_FoodContactStatus/index.htm).

 

Stage 1: Job Description – Compile a comprehensive job description, including the position, job purpose, and regular assigned duties. Use the template provided in Table 14.2 in Chapter 14 of the textbook.

 

Stage 2: Specific Objectives – Compile a comprehensive performance valuation evaluation including outcome-based, behavior- based, and professional development measures. Use the template provided in Table 14.3 in Chapter 14 of the textbook.

 

Stage 3: General Levels of Compensation – Compile a sales position analysis addressing the general levels of compensation. Use the template provided in Table 12.2 in Chapter 12 of the textbook.

 

Stage 4: Compensation Mix – Discuss the issues and opportunities to consider when putting together an effective compensation mix. Look at the advantages and disadvantages of using different compensation methods within your sales force.

 

Stage 5: Pretest the Plan – Discuss how you will pretest the plan and the rationale for selecting this method.

 

Stage 6: Administer the Plan – Once the plan is successfully pretested, discuss how you will administer the plan.

 

Stage 7: Evaluate the Plan – Discuss how you will evaluate the plan and the importance of evaluation and review with respect to the overall effectiveness of your compensation plan.

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