Rewarding System Coca Cola

Rewarding form For the Coca dumbbell Company it is important to pay well the employees. Furthermore rewarding is besides important because it contributes on the employees performances. Coca Cola uses two rewarding system establish on * function * performance Coca Cola rewards its employees done the function reward system. For the blue-collar workers the reward is based according to the distance of service. For the white-collar workers, the higher you nip and tuck in the hierarchy the more the plowsh ar rises. There is a degree structure created by functions. An external internal representation makes the job description and weighs it.Then points are given for each function. For example design/Category Points A 250 B 200190180 C 165152 D 140 Employees are also reward based on their performance. The two rewarding systems are the pecuniary and the Relational. On the financial aspects you have the pay and the benefits. On the relational aspect you have learning & developmen t and the work environment. Employees foreboding about financial rewards but nowadays they also want relational rewards. They want to be developed (training & development), recognition and work in a good working environment.The picture below shows an overview of the rewarding system. Financial rewards Coca cola offers fringe benefits such as * Company machine * Pension plan * Disability (when someone is sick & has to hang on at home) * Medical insurance (for employees and family) * Share purchase plan * public assistance initiatives (discounts on season tickets, cinema tickets,) * Flexible working time * meal vouchers Benchmarking Coca cola gets its betroths to match those of competing companies. The companionship does Benchmarking. It buys studies of companies. The company makes surveys for wage request to have an idea.It compares with those of large multinationals. Because Coca cola wants to be turning 1 the top performance. Some of those multinationals are Procter & amp Gamble, Unilver, Danone Pay rise Employees can get pay rise after a feedback give-and-take about their performances. The pay rise is based on 2 aspects * Performances (Matrix) * Points (by category) On the table you can see how an employee starts and evolves. At the end if he is execute well he can get pay rise. Fase ontwikkelen vakvolwassene groeien v v v de werknemer begint martktconform betalen wn doet meer dan wat er van hem verwacht wordt. -> tijd voor promotie + boven betalen For the payments Coca Cola uses the deservingness Matrix Exempts. The more you go to the right the better the employee is paid. The highest is the Exceeds. The more you go below the lower you get paid. growth range At merchandise range High to Market range Exceeds Min-Max Min-Max Min-Max Meets & Exceeds Min-Max Min-Max Min-Max Meets Min-Max Min-Max Min-Max Meets Some / Developing Min-Max Min-Max Min-Max Does Not Meet 0% 0% 0%As I mentioned before each function/category has its points. When you grow in a category you rise with %. The maximum rise (from D) = a little place more than the minimum above (C). F/C Points Benefits A 250 Bonus, company car B 200190180 Bonus, company car C &8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212- ABOVE &8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212&8212- MARKT under 165152 Company car D 140 commission The wages differences are mostly based on the employees function. But differences are also based according to the length of service.