Internal Alignment Strategy and Rationale for FastCat Free Essay Example

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Internal Alignment Strategy and Rationale for FastCat

Internal Strategy

FastCat's recommended internal alignment strategy involves a unified structure based on compensable factors that are essential to their success.

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Each factor has varying levels corresponding to the specific requirements needed for that factor, such as three levels for creativity and five levels for experience (Refer to Exhibit 1 in the Job Manual). This approach allows FastCat to encompass the entire company with the selected factors while still being tailored to individual job roles. By aligning employee goals with company objectives and ensuring fairness, this design will optimize FastCat's cost-effectiveness by thoroughly evaluating jobs based on their assigned factor levels.

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The five most crucial factors chosen for FastCat are:

Education,

Experience,

Technical,

Creative/Innovative, and

Skills & Abilities.

Education, experience, technical ability, creativity/innovation, and skills & abilities were all chosen as important factors for FastCat's hiring process. Education is crucial due to the specialized knowledge required for the software design at FastCat. Experience is necessary for most positions at FastCat, as it ensures proficiency in specific areas. Technical ability is vital as errors can have varying impacts on FastCat's business. Creativity and innovation align with FastCat's mission statement of producing innovative solutions.

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Finally, Skills & Abilities were considered for their broad coverage and the ability to prioritize the most essential traits for FastCat.

This system of internal alignment at FastCat aims to clearly define certain factors while keeping other factors more loosely defined to support employee development. The structure will be simple for employees to follow and understand, ensuring fairness. It will also be easy to administer and communicate, as the jobs are already evaluated and will not change in the near future. Employees will be able to see the reasons behind pay differences. To communicate the plan effectively, each employee will receive a copy and participate in small meetings to address any questions about the new structure.

Rationale for Recommendations

The recommendations suggested for FastCat will enhance the company's future success, help regain its competitive edge, and achieve compensation objectives. The first recommendation is to implement a single internal structure during the current restructuring phase, creating a less bureaucratic working environment and facilitating better management. The second recommendation is to adopt a job point evaluation system to clearly define important skills, assign numeric values to them, identify the most qualified employees, and appropriately compensate them. This system will also align employees with FastCat's objectives.

Lastly, it is recommended that Fast Cat incorporate five compensable factors to reposition themselves in the consumers' evoked set. These factors include Education, Experience, Technical (error), Creative/Innovative, and Skills & Abilities. To ensure future success, Fast Cat will require highly educated individuals with market experience, who demonstrate minimal technical errors and possess creative/innovative skills along with the necessary abilities to complete tasks. By emphasizing creativity and technical proficiency, Fast Cat can align employee behavior with their objectives and achieve their compensation goals through a clear internal structure and job point evaluation based on compensable factors.

Despite the numerous advantages of these suggestions, there are also risks to consider. Below are some of the risks linked to the FastCat proposal along with potential solutions.

Risk 1: Since it is recommend that FastCat use a single internal structure some employees may feel they will not be recognized for achieving certain goals. Potential Solution 1: FastCat can have some other ways of recognizing employee’s when they achieve goals. For example, FastCat having Employee of the Month, Profit Sharing, Gain Sharing, or just recognition for employees by management or the President of FastCat.

Risk 2: Managers and/or employees may feel that it is not fair to place them on the same level as non-managerial or managerial employee. Potential Solution 2: Explain to employees how the point system works, and why they are on the same level. Especially emphasize the Skills & Abilities Level 2 and above Ranks, where managerial skills are listed. This will show the employees that FastCat is paying more for managers. However, there may be another factor that places the employee and manager within the same point range.

Risk 3: If an employee ranks high on the job point evaluation then he/she may feel as if they are indispensable. This could cause them to not be focused or to slack off on their responsibilities. Potential Solution 3: FastCat could occasionally remind employees that their compensation is based on the fact that they are doing their job. If an employee believes he/she is indispensable, and therefore either slacks off or becomes not focused; then maybe FastCat should remind them of employment at will.

Risk 4: Since FastCat does value creativity and innovation, employees who are in positions where creativity and innovation are not needed could feel that any ideas they do have would not be very important. Potential Solution 4: FastCat could have a suggestion box, or encourage all employees that have an idea to tell their superior. FastCat would need to tell employees something to the effect of: there are no bad ideas, just ones that are not yet developed.

This would promote employees to share their ideas and feel appreciated, ultimately leading to more benefits than risks for the company. These benefits include aiding FastCat's future success, restoring its competitive advantage, and achieving compensation goals. While acknowledging potential risks, FastCat can effectively address them to ensure successful implementation of our recommendations.