To address disappointing financial results JCPenney, a US based department chain store corporation, embarked on a complete change of its business model and work culture. To support the changes the compensation team was charged with a complete overhaul of the compensation programme. With a focus on external competitiveness, the team developed a comprehensive project plan; negotiated buy-in and secured input from senior managers; benchmarked jobs and matched them to market surveys by title and job...
BPIR Categories9.5.5 Manage reward & recognition programs
9.5.3 Evaluate work for market value & internal equity
9.5.4 Develop & manage base & variable compensation
9.7.2 Provide mechanisms for internal communication