Compensation, benefits and incentives policy

Analyze the following situation:

Ms$.$ Luna Izquierdo, President and CEO of Limpio Mucho, Inc., wants to determine the best way to quickly implement the new business strategy. You have been tasked with suggesting a new compensation plan specifically for the Puerto Rico workforce. You must propose the plan and a justification for its approval by the Human Resources Department. You should consider that Limpio Mucho, Inc. needs to maintain balanced costs, but at the same time wants to provide a compensation plan that fits its need to aggressively expand its operations on the Island.

Prepare a writing using the following guide:

Introduction:

Presents a summary of the situation and the purpose of the writing.Ejemplo: Comparative table for the position of Graduate Nurse

Development:

Include the following in your writing:

Using the jobs presented in Figure $1$ Download Figure $1$ of task $5\mathrm{.}1,$ develop a suggested compensation policy for the new work team; Remember to include financial compensation and a package of financial and non$-$financial benefits $($e$.$g$.,$ salaries, wages, commissions, benefits$)$ for each of the identified positions.

Describe the components of the incentive package you will use to motivate employees to go the extra mile at work. Takes into consideration trends in incentive pay for the industry and jobs.

Describe in detail what benefit the proposed compensation plan will provide to the company.

Explains how the proposed compensation plan for Puerto Rico differs from Limpio Mucho, Inc.$\text{'}$s compensation plan at the national level.

Important notes:

Consider important aspects such as the wage and salary provisions of the FLSA, Regulation $13$ and the changes established by Law No$.4,$ Workplace Transformation and Flexibility Law, into consideration for your plan.

You can use information sources such as the State and Federal Department of Labor and other information sources that we have discussed in class to complete the work.

Conclusion:

Explain why the pay system $($the compensation and benefits plan$)$ proposed by you will work and how it will support the company's strategy.