Architects, Inc. is a large commercial architectural firm that specializes in the design of small- to medium-sized structures such as churches, private schools, and business offices. The company employs commercial architects and engineers with various levels of education, credentials, and experience. The current performance management system utilizes a traditional pay system that uses seniority for the basis of pay ranges and increases. The company currently has three ranks for architects and engineers. Each of these pay ranges determines minimum, midpoint, and maximum rates. The following outlines the three ranks: 1. Entry-level architect/engineer (pay range: $35,000– $50,000) 2. Junior architect/engineer (pay range: $45,000– $75,000) 3. Senior architect/engineer (pay range: $55,000– $100,000) Seniority and a percentage of the base salary determine salary increases at the end of the year, and the same percentage is used for all employees. Rewards are not based on the quality of work performed, new design innovations, productivity, or customer satisfaction. Therefore, if a junior architect/engineer reaches a base salary of $75,000, the employee cannot realize a salary increase unless he or she is promoted to a senior architect/engineer position because the maximum salary for a junior architect/engineer is $75,000. You believe implementing a CP plan is a good idea. Please write a one-page memo to the president of the company describing the potential benefits of doing so to gain approval for implementing the new CP plan.