Compensation Plan Outline Assignment Example | Topics and Well Written Essays - 1000 words

pay Plan Outline - Assignment ExampleThe following is an outline of Kelloggs compensation plan.Kellogg is the worlds number one producer of cereal, snacks, and snappy food producer including, crackers, cookies, cereal bars, fruits, flavored snacks, toaster pastries, veggie foods, and frozen waffles. In order to motivate its employees, the company has come up with a compensation plan, which provides eligible workers with a competitive form of retirement benefits depending on the years of process and pay and improve the performance of the employees. Kellogg participation uses a variety of equity- establishd compensation plans to provide long-term compensation to employees (Zoltners, Sinha, & Lorimer, 2006). Currently, the companys incentives comprise of moreover stock options and executive performance shares, stock grants, and restricted stock units. In addition, Kellogg Company compensates employees for tax demolishing payments, travel and home leave allowances, adjustments for cost of living, moving and relocation allowances, utilities and housing allowances, and hardship premiums and foreign service allowances (Harding & Rovit, 2004).Kellogg Company agrees to give compensations and benefits, according to the terms and condition of the Companys benefit and compensation rules and regulations. Employees justify and represent that an employee has gone through the compensation plan and understood its application and meaning. For the purpose of the compensation plan, employees in Kellogg Company agree that.A worker shall receive compensation and benefits as according to the compensation plan. According to the compensation plan of Kellogg Company, employees should receive compensation pay, which is equal to two operational years of target bonus and base salary. Such compensation amount shall be paid to employees under equal install aments as from the tone ending date (Plunkett, Jack, & Plunkett, 2009). According to Kellogg Company, then the