Rewarding System Coca Cola

Rewarding system For the Coca Cola Company it is important to stomach well the employees. Furthermore rewarding is also important because it contributes on the employees acts. Coca Cola uses two rewarding system based on * function * performance Coca Cola rewards its employees through the function reward system. For the blue-collar workers the reward is based according to the length of service. For the white-collar workers, the higher you beginning in the power structure the more the percentage rises. There is a degree structure created by functions. An external agency makes the job description and weighs it.Then points be given for each function. For specimen Function/Category Points A 250 B 200190180 C 165152 D 140 Employees are also reward based on their performance. The two rewarding systems are the Financial and the Relational. On the monetary aspects you have the pay and the benefits. On the relational aspect you have learning & development and the work environment. Emplo yees care 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 delineation below shows an overview of the rewarding system. Financial rewards Coca cola offers fringe benefits such as * Company car * Pension plan * Disability (when someone is reproduce & has to stay at home) * Medical insurance (for employees and family) * Share purchase plan * Wellbeing initiatives (discounts on season tickets, cinema tickets,) * Flexible working time * meal vouchers Benchmarking Coca cola conks its wages to match those of competing companies. The company 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 number 1 the top performance. Some of those multinationals are Procter & Gamble, Unilver, Danone Pay rise Employees can get pay rise aft er a feedback discussion about their performances. The pay rise is based on 2 aspects * Performances (Matrix) * Points (by socio-economic class) On the table you can see how an employee starts and evolves. At the end if he is performing 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 Merit Matrix Exempts. The more you go to the right the break the employee is paid. The highest is the Exceeds. The more you go below the lower you get paid. ontogeny range At Market 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 bit more than the minimum above (C). F/C Points Benefits A 250 Bonus, company car B 200190180 Bonus, company car C - ABOVE - MARKT BELOW 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.