Compensation is the total payment given to employees in exchange done to a business, which maybe cash or non-cash payment. Compensation philosophy differs depending on one’s profile, team size, and position. In Disney, team leaders receive 5%to 10%, while senior managers and managers receive 25% as a bonus of their yearly compensation. On-management employees are paid overtime or redeem time off in the 36th hour worked in one week. Members who are paid cash get a bonus equal to a 13th month’s salary. In pay for performance programs, those interns working in the park by the Disney college program earn between &10 to &11 hourly.
Walt Disney uses the alignment method to coordinate employees to achieve their efforts at a certain goal. Disney also uses the collaboration and transparency method to give out their views and discoveries. All artists also could collaborate to enhance the benefits of managing knowledge. Disney also used the recognition method to call his workers and praise those who have done great work. Frequent feedback and training method was used by Walt Disney, whereby Walt could train and mentor some team members and provide guidance to them.
Reference
Nelson, B. (2012). 1501 ways to reward employees. Workman Publishing.