In every organization that intends to grow, there are structures and systems put in place to ensure posterity of the company and survival. The aspect triggers the incorporation of multiple people in the management thereby creating a compensation, benefits, reward and recognition headache for the human resource department. Blossoms Up! is no different. It is in a dilemma of how to balance their resources amongst top executives.
COMPENSATION
Blossoms Up! is looking to hire a Vice-President who will be in charge of operations. It goes without saying that the job has a string of responsibilities which must be compensated proportionately. The Vice-President is below, according to the hierarchy of Blossoms Up! the company's president and the company's executive assistant but in the same hierarchy as the vice-president in charge of finance and the human resource director but with lesser responsibilities respectively. As such, the compensation of such an employee must be such as it is in the same range as the other vice president with minimal disparities (Center on Executive Compensation, 2017).
BENEFITS AND REWARD
It is also prudent to ensure that the appointee should have proper means of transport, communication, and accommodation. The benefits boost the morale of the laborer. The rewards should be by merit on the progress of the departments allocated to them (Human Resource Management Practice, 2017).
RECOGNITION
When a person is properly recognized for the kind of work that is done, better results will be achieved. In this case, recognizing the vice president as a valuable asset in Blossoms Up! would go a long way in securing the space for the company in the big league of men (Human Resource Management Practice, 2017).
Reference
Center on Executive Compensation, (2017) "Perquisites" retrieved on 14 January 2017 from http://www.execcomp.org/Issues/Issue/executive-compensation-plan-design/perquisites
Human Resource Management Practice, (2017) "What are the Components of Executive Compensation?" retrieved on 14 January 2017 from http://hrmpractice.com/what-are-the-components-of-executive-compensation/
