Question

As there is no any effective medicine for the treatment for Covid-19, quarantine, isolation and social distancing are the bulwarks to prevent the prevention of the virus. However, vaccines being developed by a number of companies around the world have offered a ray of hope. Under such circumstances, Bangladesh has announced to join the production of vaccines. Bangladesh will work with the UK and China if everything goes right, said sources at the Directorate General of Drug Administration (DGDA). In this regard, Incepta Vaccine Ltd has got the permission to produce the vaccine for Covid-19. Incepta Vaccine Ltd is a sister company of Incepta Pharmaceuticals Ltd, is the first human vaccines manufacturing company in Bangladesh in compliance with WHO GMP requirements. Its large production capacity, will allow the company to produce Covid-9 vaccine. Previously, this company used only 30% of its production capacity but currently they need to go for huge production of this vaccine that requires more work force in the production process including professionals, technicians and workers. Incepta Vaccine Ltd even need to bring people from abroad to produce the vaccine more effectively having the collaboration with the UK and China. In this situation, CEO of Incepta Vaccine Ltd requests HR manager to prepare a report to design the compensation package (considering different compensable factors) for the pharmacist and technicians so that company can attract more intellectual and efficient people in this plant not only from national but also from abroad with the possible strategic impact of the proposed pay structure. As an HR manager of this company, how would you make the compensation package that can be attractive for new hiring? Should the compensable factors for national and international hiring be same? Justify your answer.

Ans Please?

Answer 1

As an HR manager of Incepta Vaccine Ltd, I will make the compensation package more attractive for new hiring by introducing 'Best in the World' compensation package. It will have a performace-based payment with a 1% to 5% lifelong royalty. The compensable factors for national and international hiring will be the same as this is an emergency situation and high-quality professionals are required for the production of a highly effective vaccine. This can only be acheived with the help of a good compensation package along with lifelong royalty or any similar measures. Since this deadly pandemic is a common enemy of all nations and peoples, any amount will be less to arrest the spread of this contagion to save the lives of millions of people.