The selected firm in Idaho is the T-Mobile company that assists the people in the wireless communication. This company provides a wider network service reaching more than 293 million of people in America. The company has employed more than 45000 employees. A compensation strategy of T-mobiles refers to the plan that identifies that how much will the company paying its workers and what will be the rewards, incentives, and benefits provided to the employees along with the basic pay .
Compensation Strategy of T-Mobile:
The key components of the compensation and benefit strategy of T-mobiles are pay, benefits, and career development. It has a competitive compensation and benefits strategy in order to attract the employees and retain them. Pay includes the basic salary of the employee, overtime done, profit sharing in cash, short as well as long term incentives, and equity plans. In addition, the benefits of the T-mobiles compensation strategy includes the retirement benefits, health insurance of the employee and his family, 25 paid leaves, death benefits, and work/life balance. Further, the career development section includes polishing the skills and abilities through training and development, advancement in the career opportunities, job rotation or job enrichment, promotional opportunities, and constancy within the employment. In addition, the compensation for all the workers is not same, it depends on their performance and then it is decided to offer them the benefits (Sperling and Hicks 90).
Compensation Philosophy of T-Mobile
The compensation philosophy of T-Mobile is to focus on the market trend and then coming up with a competitive compensation plan that will attract the employees and motivate them to work towards the business strategy. The compensation strategy is aligned with the business strategy. In addition, the high performers are given more benefits than the low performers. Finally, the compensation philosophy shows that the compensation strategy is easy understandable (Sperling and Hicks 95).
Works Cited
Sperling, Richard and Larry Hicks. "Trends In Compensation And Benefits Strategies." Employment Relations Today (1998): 85-99.
t-mobile.com. About T-Mobile. 2016. 21 January 2016 <http://www.t-mobile.com/Company/CompanyInfo.aspx?tp=Abt_Tab_CompanyOverview>.
