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Developing a Competitive Pay Policy for ABC Retail to Achieve Market Share Growth

A strategic analysis of pay policies for competitive market positioning. This solved assignment discusses compensation structures and industry trends.

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Running head:COMPETITIVE PAY POLICY FOR ABC RETAIL1Competitive Pay Policy for ABC RetailYou are the HR manager for ABC Retail, an independent retail company exclusively located in St.Louis, Missouri. The company has ten stores and considers its primary competitors Target andKohl’s.Thecompany’s market share in this area was 17.8% in 2011. They are a non-union organization andbelieve that their customers are the key to success, followed by their customer service provided bytheir carefully selected associates. The strategic goal for ABC Retail is to increase its market sharein the St. Louis area to 20% by 2015.For the purpose of the assignment, each store has the following staffing:One store managerThree assistant store mangersSeventeen department managersTwenty-four shift leadersOne hundred and seventy associatesEach store has a total of 215 employees when fully staffedTurnover for management positions were 10%, shift leaders 25%, and associates 30% for 2011.Currently, pay for these positions was rated as “average” by management, “average to belowaverage” by shift managers, and “below average” by associates based on a employee pay surveyconducted in June 2012.You have been tasked to develop a competitive pay policy for ABC Retail by senior management tosupport the strategic goal to increase its market share to 20% in the St. Louis area by 2015.Based on the Chapter 7 and 8 readings in the textbook, develop the recommended pay policCompetitive Pay Policy for ABC RetailAbstractA competitive pay policy explains anassociation's system for contending inside focusedon work markets to select the workers it needs to make business progress(Boute, Bruggeman &Vereecke,2015).Such strategy guides directors in settling on powerful choices in regards to the

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Human Resource Management

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