Professional document (letter or memo) Essay Example | Topics and Well Written Essays - 750 words

Professional document (letter or memo) - Essay Example These advances have made it possible for the human resource to come up with proper recommendations. The recommendations are aimed at improving the work rate displayed by the sales force. The work rate has decreased significantly as their morale has been diminished by the implementation of the pay for performance reward system. Proposal As much as the pay form performance reward system is appropriate and practical, some adjustments need to be done to incorporate all the condition different individuals have in the sale force. In the current pay for performance system all sales people are entitled to pay depending on their performance. Their performance is measured by the quantity of stock they have turned to cash. The commission paid does not include any other form of reward or incentive. In my proposal, all sales people should be entitled to a fixed salary rate. However, the salary should be half the salary of the required pay. The rest of their pay should then be based on commission. This will at least create a balanced operation ground among all the sales employees. According to Miner, the implementation of this move will indirectly motivate employees (34). The motivation will significantly translate to a more active sales force. My proposal in adjustment of the pay for performance system also involves the giving of extra incentives to the most performing sales people. This will not only give the sales force something to look forward to, but the sales in the organization will increase significantly. Additionally, this move will make the bonus system of the pay for performance system more practical. Rationale The welfare of the employees should be the most significant factor to be considered when implementing the proposals. As the main body of ensuring that consumers’ needs are satisfied the organization should be very considerate when dealing with them. Additionally, the level of equity turnover should be considered before formulating any reward system. Rewards system should be dictated by the amount of sales the organization makes at each quarter. Implementation There should be a proper recording system in which the turnover figure for each employee is recorded. The turnover figures should determine whether or not an employee will receive a bonus. The turnover figure should be recorded after each quarter. As originally recommended by the pay for performance system, the reward system should be as follows: 100% over salary for the topmost sales person; 60% for the second top; 30% for the third and fourth; and no extra for the rest. As internationally recommended, all employees in the sales force should be entitled to a salary that is constant to all of them. Just as the initial reward system, there will be oppositions raised against these proposals. However, as stated by Miner, the consistency of a reward system is very important (235). If the advantages of a reward system are many than the disavantages, then the rewards system sho uld be fully implemented and with time all employees will feel justly rewarded and treated. The management should also be fair when it comes to awarding of bonuses and incentives. With high stakes and topping the turnover figures, employees could be tempted to apply dubious operational skills. To curb this, the organization should come up with company rules and regulations which will govern the mode in which the sales force operates. This will also create equality in the

Title Foreign Exchange Market Research Paper Example | Topics and Well Written Essays - 250 words

Title Foreign Exchange Market - Research Paper Example The German is expecting a 0.6% gain in CPI. The cost of durable goods ordered has increased to 2.8% favoring the growth of Euros. The value of the quarterly GDP of US released has fall short of what was the initial estimate. US Q4 is 2.1% while the original estimate was 2.6%. Although the US Dollar is among the most traded currency, many countries in Euro zone use the Euros money. The interest rate is a weapon used to influence the stability of Euros against the US Dollar. In the Europe region ranking, Germany is seventh in trade Netherlands being its primary partner. Germany trades with not less than 17 European Countries. Its strategic location favors marketing to the rest of the countries. Many countries neighboring Germany has preferred the enormous growth in its economy (Floyd, 2010). There is little risk associated with Germany thus doing trade activities with German is promising. Germany has numerous strengths that will lead to real trading activities. The country has a solid base for industrialization as per the quarter GDP (Hill, 2011). The country is among the few countries that is profitable and contributes competition to the rest of the world. German has a diversified export basis that makes trading easy and efficient. The Germans show aggressiveness and are capable of achieving more stable economy and currency. The GDP of German is predicted to have big potential and able to overtake other countries. By 2030, the German predict their GDP to rise to $60,000, a figure past Japan and U.S (Floyd, 2010). The German think this is possible with their dominant industrial sector, which is the most productive in the