Compensation Plan
Total Compensation Plan Design
Macy 's (fictional)
Table of Contents
Executive Summary…………………………………………………………….3
Macy’s Overview………………………………………………………....4
Macy’s business strategy and organizational culture………………………..5
Macy’s Organizational Chart………………………………………………….6
Macy’s Broad Compensation Strategy…………………………………………7
Macy’s Compensation Plan……………………………………………………….8
The Cost of the Compensation Plan………………………………………………..9
Compensation Plan Communication……………………………………………..10
Executive Summary
Macy’s Overview
Macy’s Inc. is one of the nation’s premier retailers operating more than 850 department stores and employing approximately 182,000 employees in the United States. Macy’s takes pride in selling numerous private label brands and pulling away from other department stores like JC Penny and Sears. Today’s organization is a combination of a number of department stores which came together beginning in 1929. Federated Department Stores, Inc. (renamed Macy’s Inc. in June 2007) was born through the combination of Abraham and Straus of Brooklyn, Filene’s of Boston, F&R Lazarus & Co. of Columbus, OH, and Bloomingdale’s of New York. At that time these separate retailers were established and rich in history on their own. In joining together, they agreed to maintain their separate identities while linking their financial interests. Macy’s mission statement is written to reflect how the company will run their business in the present and the future. Below is Macy’s mission statement explaining their core values: “Our goal is to be a retailer with the ability to see opportunity on the horizon and have a clear path for capitalizing on it. To do so, we are moving faster than ever before, employing more technology and concentrating our resources on those elements most important to our core customers” ( http://www.Macys.com)
Macy’s specializes as a chain of mid-range American department stores. Products sold at Macy’s range from clothing, shoes,
Macy 's (fictional)
Table of Contents
Executive Summary…………………………………………………………….3
Macy’s Overview………………………………………………………....4
Macy’s business strategy and organizational culture………………………..5
Macy’s Organizational Chart………………………………………………….6
Macy’s Broad Compensation Strategy…………………………………………7
Macy’s Compensation Plan……………………………………………………….8
The Cost of the Compensation Plan………………………………………………..9
Compensation Plan Communication……………………………………………..10
Executive Summary
Macy’s Overview
Macy’s Inc. is one of the nation’s premier retailers operating more than 850 department stores and employing approximately 182,000 employees in the United States. Macy’s takes pride in selling numerous private label brands and pulling away from other department stores like JC Penny and Sears. Today’s organization is a combination of a number of department stores which came together beginning in 1929. Federated Department Stores, Inc. (renamed Macy’s Inc. in June 2007) was born through the combination of Abraham and Straus of Brooklyn, Filene’s of Boston, F&R Lazarus & Co. of Columbus, OH, and Bloomingdale’s of New York. At that time these separate retailers were established and rich in history on their own. In joining together, they agreed to maintain their separate identities while linking their financial interests. Macy’s mission statement is written to reflect how the company will run their business in the present and the future. Below is Macy’s mission statement explaining their core values: “Our goal is to be a retailer with the ability to see opportunity on the horizon and have a clear path for capitalizing on it. To do so, we are moving faster than ever before, employing more technology and concentrating our resources on those elements most important to our core customers” ( http://www.Macys.com)
Macy’s specializes as a chain of mid-range American department stores. Products sold at Macy’s range from clothing, shoes,