Prof. Lezlie Financial institutions
BUS409 Reimbursement Management
Nov 2, 2013
Owens-Corning (NYSE: OC), a lot of money 500 Organization for the last fifty nine years began in 1938. They are a respected global developer of home and commercial building materials, glass-fiber reinforcements and engineered materials for composite systems. OC is usually celebrating really 75th anniversary in 2013 and provides over 12-15, 000 workers in twenty-seven countries about five regions.
Located in Toledo, OH YEA, they have one hundred ninety HR personnel who were tasked with making a total payment plan that could eliminate the current culture of entitlement into their employees, give great cash flow for the organization, and develop a sense of pride, in addition to a culture of ownership and empowerment. The present compensation prepare negatively afflicted cash flow in the company, and in addition created a great entitlement frame of mind among their employees. The goal was not only to enhance the companies financial outlook, but for alter the attitude of the staff, which everyone expected to be a challenging and hard task.
Incoming CEO, Glen Hiner created a fresh corporate aim system which usually he called Vision 2k. Along with sales objectives, he wanted the company to embrace new core beliefs: customer satisfaction, specific dignity an shareholder value. In response for the new direction, the HUMAN RESOURCES team came up with a reimbursement solution 迭ewards and Resources a variable compensation and versatile benefits plan that is linked with performance. New HR vp, Greg Thomson, had this kind of to say 展ith Rewards and Resources, all of us tried to design a program that reflects individuals three main values and most obviously connections into the latter
Owens-Corning began looking at its benefits in a fresh way, as a form of total compensation rather than an entitlement program that all employees predicted upon job without consider to...