Question

I am a new company that started last 3 months . The business is mostly into web development and Maintenance. We are lcoated in Philadelphia, Pennsylvania .Our business strategy will be to target small and medium size companies and even freelancers to start with. Initially for the first two years, we will operate only in one city and with one office.

Describe how other existing businesses in your community affect the compensation vision and strategy of this new company.

Answer 1

The locations like Philadelhia and Pennsylvania has lot of organisations in the same business line. Thus there will be chances of stiff competition from the various players like Yakis, Janis marketing etc which are well established. in addition there are lot of young talents on this states because of the presence of many technical universities. This will create more oppprtunity and will reduce the buying power of the organisation . Thus salary and other talent hunt would be very crucial and competitive in nature. The strategy should be to identify the right pool of people who can focus on innovative ideas and make them more independable and allowing flexible working environment. This will help them to bring new ideas and create a unique position in the market. Talent qcusition, training and development to be considered as of prime importance because the difference in service level and delivery can be obtained only through better resources.