Compensation and Benefits Research Paper
Telus is a telecommunication company which offers telecom products and services. The company is one of the largest telecommunication companies in Canada with its head office located in Alberta. It has five branches spread across the provinces. In 2001, the company was incorporated and registered as a trademark and its main focus was to pursue opportunities in the operating systems in the telecommunication but in recent years it expanded its line to producing mobile phones. There is high competition among the various brands that produce and sell software and phones. However, Telus has invested in offering high quality products; develop greater human asset and having a customer intimacy model in place which has allowed the company maintains its competitive edge. Dominance in the market has seen the company scale into greater heights in terms of financial performance.The market for telecom products is very huge owing to the fact that there is an unstoppable growth of the industry. The operating system technology targets two segments, tier 2 and tier 3 telecom operators. The market for phones is estimated to grow by 70% in the next two years.
The number of employees has been increasing since the incorporation of the company in 2001, the majority being male though there has been a need of hiring more women in recent years. The workforce is of different age groups but majority are millennials who have the skills and who the company believes are very innovative. These employees have demand for a good compensation package that will motivate them to be productive. Designing a reward package for a CEO is very complex requiring many variables. However the structure of compensating the CEO, salary staff, and hourly staff should be directed to aligning the goals of the firm and adopting a common model for compensation. It is very important to identify the drivers of compensation in the company. This paper seeks to identify a reward package that includes a mix of compensation, benefits and perquisites that will motivate employees. It will balance individual and organizational needs giving rise to an optimal compensation structure.