BUS 409 midterm – COMPENSATION STRATEGIES: COCA-COLA COMPANY

BUS 409 midterm – COMPENSATION STRATEGIES: COCA-COLA COMPANY

Answer 

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Introduction

Compensation refers to the monetary and non-monetary benefits leveled towards employees by their employers for work performed according to the required standards. Companies apply different strategies in their compensation schemes which are influenced by several internal and external factors. Compensation includes payments such as bonuses, overtime pay, sales commissions and recognition reward perks (Reda, Reifler, & Thatcher, 2007). This paper seeks to review the compensation strategy of the Coca-Cola Company. The strategy used bears much influence both from internal and external sources, the trade unions bearing the greatest responsibility on these influences. The choice of Coca-Cola is based on the company’s strong financial ability in the market and its ability to adapt to the dynamic financial trends in the market. Compensation strategy used Coca-Cola is a multinational company that operates in most countries in the world with the headquarters in Atlanta, Georgia and specializes in the soft drinks industry (Times, 2012). The company has a designed compensation perk that is meant in real terms to reward employees for their unwavering sustainable commitment to the company’s growth. It aims at making an attraction to world class and qualified talent so that there is an alignment between the compensation and the long term vision of the company. Recently though, the company strategized on stressing on a high perk for a good performance by the staff members. Apart from the high salary that the top management enjoys, they are also accorded stock awards, non-equity incentive compensation and bonuses as well as the option awards (Coca-Cola, 2012).

COMPENSATION STRATEGIES: COCA-COLA COMPANY ANALYSIS 3

The company management team for instance believes in healthy workforce and has gone a notch higher in compensating for that program in its employees’ line. The company started a pilot program to encourage its employees improve their health by initiating medical schemes to its Atlanta employees. A medical center was set up to take care of all the employees that work at the headquarters and the center included all the tests for as many diseases as possible. The settlement of the bills was done by the company plan to have all employees owning a health savings account. In 2009, the company’s health strategy, which was meant to retain a healthy…………………………………………………….