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The two chosen companies are technology company namely Invite manager and Loot Crate Company respectively. They are both located in Los Angeles, California. Invite manager has 50 employees while Loot crate has 250 employees.
Variable incentive programs
Similar incentive programs
Health /dental/vision and life insurance
Friendly office working environment
Welfare and free gym training
Differences in the incentive plans
Loot crate has equity plan for its full time employees unlike Invite Manager company
Loot Crate has free onsite yoga and classes for its employee unlike the Invite Manager Company.
This is done by another tutor and the professor commented that this is not right and here is her response:
I've reviewed your proposed variable incentive for the team project and want to share my concerns.
For both companies, the below listed items are not variable incentives linked to performance:
Health/dental/vision and life insurance
Friendly office environment
Welfare and free gym training
For Loot:
Equity is acceptable if, and only if it is based on performance
Onsite yoga is a relational reward not a variable incentive and it is not linked to performance.
Let's talk about this tomorrow evening. Or, if you have other alternatives, you are welcome to email them to me.
Thank you.
Professor
Please DO EXACTLY WHAT IS ASKED HERE IN THE INSTRUCTIONS BELOWAND SEE THE COMMENT OF WHAT THE PROFESSOR SAID ABOUT THIS (CHECK ABOVE FOR HER COMMENT) :
INSTRUCTIONS FOR ASSIGNMENT: In order to provide a practical application to the topic of various reward systems and how they fit into an organization’s overall compensation strategy. You will need to conduct research and compare and contrast a minimum of three (3) variable or incentive pay programs (excluding base salary, retirement programs and standard bonuses) of at least two (2) organizations. The team is expected to supplement online research with fieldwork in the form of either interviewing a knowledgeable party at each of the companies being contrasted in person or, if in person is impractical, by telephone ( check the above assignment that is done by previous tutor incorrectly similar format but content is wrong).The contact information (his/her name , position, contact details) The organizations may be either for profit or not for profit.
PLEASE NOTE: Variable and Incentive programs may be either individual or collective (team) performance. Standard benefits, or across the board incentives such as: medical insurance, free lunches, onsite services, are not variable or incentives; these are “perks”, a concept.