Evaluate the existing compensation plan to determine

Evaluate the existing compensation plan to determine if it is the most appropriate for your company.Explain your rationale. The current compensation plan of Coca Cola is geared towards attracting and retaining excellent human resources. The compensation plans serve multiple purposes for Coca Cola. The compensation plan for executives is determined through a compensation committee and largely relies on long term equity-based compensation to ensure that the executives make decisions in line with the long term objectives of Coca Cola. For its managers, the company’s compensation plan is focused on exceeding market rates, whilst ensuring a rich benefits offering, and even a fully paid health plan. This plan is gearedBackground image of page 1Info iconThis preview has intentionally blurred sections. Sign up to view the full version.View Full DocumentRight Arrow IconCOMPENSATION PLAN OUTLINE towards retaining and motivating the best sales and management staff, to ensure health and continuity of its key human resources. For its agents and bottlers (suppliers) Coca Cola ensures that the work environments are sustainable and pay rates are at par with industry standards. This ensures that the cost of production remains under control. Since the wages of these agents are at par with market levels, the company offers its goods at a subsidized rate to its employees, as a form of benefit. Based on its strategy to breed excellence, while ensuring the health and sustainability of its markets, the current strategy of Coca Cola is very effective in its ability to retain its workforce. The current compensation strategy gives a higher total rewards package to more strategic employees, and prefers to pay at or above market levels in order to retain the best talent in the beverage industry. Determine the most beneficial ratio of internally consistent and market consistent compensations systems for the company you selected. Coca Cola operates in the beverage industry, and is therefore subject to market comparisons with companies like PepsiCo. In terms of market share Coca Cola is the leader and offers a competitive salary and benefits package. Coca Cola is in a position to provide rich rewards to its employees and so provides compensation ahead of the market wher