A brief program of strategic program of Slime-E Oil Guys Ltd
1
z
1
Su bm it ted
By :
HRM 4004:
COMPENSATION
GROUP PROJECT
SPRING 2020
: A brief study of strategic program of Slime-E oil Guys Ltd
Prepare for your exams
Study with the several resources on Docsity
Earn points to download
Earn points by helping other students or get them with a premium plan
Guidelines and tips
Prepare for your exams
Study with the several resources on Docsity
Earn points to download
Earn points by helping other students or get them with a premium plan
Community
Ask the community
Ask the community for help and clear up your study doubts
University Rankings
Discover the best universities in your country according to Docsity users
Free resources
Our save-the-student-ebooks!
Download our free guides on studying techniques, anxiety management strategies, and thesis advice from Docsity tutors
A brief program of strategic program of Slime-E Oil Guys Ltd, Thesis of Compensation and Reward Management
Compensation Project on A brief program of strategic program of Slime-E Oil Guys Ltd
Typology: Thesis
2019/2020
1 / 11
This page cannot be seen from the preview
Don't miss anything!
Related documents
Partial preview of the text
Download A brief program of strategic program of Slime-E Oil Guys Ltd and more Thesis Compensation and Reward Management in PDF only on Docsity!
z
Submitted By:
HRM 4004:
COMPENSATION
GROUP PROJECT
SPRING 2020
: A brief study of strategic program of Slime-E oil Guys Ltd
- Abstract.................................................................................................. Contents
- Introduction...........................................................................................
- Background............................................................................................
- Vision, mission and values.....................................................................
- The Key Decisions to build structured program......................................
- Compensation Strategy Template..........................................................
- References............................................................................................
Introduction
A short introduction about Slime-E Oil Guys Ltd is that the company is one of the leading oil and gas company which provide fuel, oil, energy & light, and other products in the international market. This company was suffering due to no formal program structure of the organization. The management also has less understanding of Canadian law because they are new at this place. So, this project is focused on eliminating all the problems and making a decision that keeps the organization running professionally.
Background
Slime-E Oil Guys Ltd. owns or operates petroleum products, natural gas and oil, and other products. Recently Slime-E Oil Guys Ltd. opened the Canadian operation in Sarnia, Ontario. They started working with 233 employees and all are non-union operators. With all of their efforts like by rotating employees shifts in 12-12 hours they vale to earn a revenue of $ million. At this time their main focus is to manufacture and supply petrochemical products. At the starting period of their organization, the management gave a lot of attention to attract and select the best people and create links in the local market to find the best employees who can perform with their experts by offering those rewards and packages. They provided them more attention in placing a foundation that connects the local market with the organization at the time of the establishment of the organization.
The Slime-E Oil Guys Ltd. company knows that the employees of other Canadian subsidiaries of oil have a low rate of satisfaction with their job, this is the reason by which the Slime-E Oil Guys Ltd. was concerned about the possibilities of unionization. But the turnover rates were suddenly increased by them for the new candidate which they hired later on. Their management team is new to Sarnia, most of them are on international projects. So, they have very little knowledge and understanding about the legal law and practices of Canadian employment. This study is majorly focusing on setting up the structure of the organization. This organization was unable to make proper structure and management. The hiring and employee selection were done without any process. So, the less skilled employees and employees with less knowledge gained high rewards equal to the rewards given to the workers with top performance.
The Key Decisions to build structured program The programing structure of an organization is very important so that everyone is clear about the goals of organization and also for maintaining company standards. After analyzing different databases some key decisions are pointed out to maintain structure and professional organization.
1. Redefining Minimum Wages It is important to redefine the minimum wages closer to the amount of fair amount and provide an employee with respect.
- Fair wages to contract workers As the permanent employee and a contract-based employee does the same type of work. So, wages should be paid depending on performance and not according to the position or status. 3. Highlighting the strategy The decision is taken that the strategy of compensation should fit the culture of the company and the internal environment in terms of fairness. 4. Rewards & Recognition A very well-defined reward and recognition systems are created which allow the employer to differentiate between good or bad performance and give the reward to the good performer directly.
5. Mandatory Benefits During these days there are several options for providing mandatory benefits to the employees. So, the company owner should legally bind to for the benefits for organization and employees. 6. Responsibilities towards the Society The organization tends to be connected deeply with the employee communities and encourages them to participate in worthy cause make the world a better place. 7. Decision-Based on Data The decision will be taken after analyzing the data. The organization will not ignore when any employee claim from the upper level worker. 8. Trade Union Making better as much as a possible partnership with the trade union.
vi. Other Benefits 5%
A brief study of strategic program of Slime-E oil Guys Ltd
References