Macy's rolls out new incentive program; 16 stores to participate in Macy's East new selling performance plan.NEW YORK--(BUSINESS WIRE)--Aug. 2, 1996--In its continued effort to maximize opportunities for both its associates and customers, Macy's East announced today the introduction of a new compensation program entitled the Selling Performance Plan. This new plan will provide sales associates in non-traditional commission departments with a stable level of earnings throughout the year. Furthermore, for the first time, these associates will have the opportunity to earn additional income, based on personal productivity, through a quarterly bonus program and a seasonal base-rate adjustment. Beginning Sunday, August 4, 16 full-commission stores in the 91-store division will convert to this program. Those locations are: Danbury and Stamford (CT); Aventura, Palm Beach and Plantation (FL); Lenox, Perimeter and Town Center (GA); Bridgewater, Hamilton, Menlo Park Menlo Park. 1 Residential city (1990 pop. 28,040), San Mateo co., W Calif.; inc. 1874. Electronic equipment and aerospace products are manufactured in the city. Menlo College and a Stanford Univ. research institute are there. 2 Uninc. , Paramus, Paramus Park Paramus Park is a shopping center located on From Road in Paramus, New Jersey, United States, sandwiched between Route 17 and the Garden State Parkway, a little more than two miles north of Route 4. and Short Hills (NJ); King of Prussia King of Prussia, industrialized suburban area (1990 pop. 18,406), Montgomery co., SE Pa. It has glass and steel fabricating, food processing, printing and publishing, and varied manufacturing (textiles, liquified petroleum gas, water-treatment and electrical (PA); and Pentagon (VA). This compensation plan is similar to those in effect at Macy's West, Bloomingdale's and Rich's/Lazarus (Macy's East sister divisions in the Federated Connected and treated as one. See federated database and federated directories. family) as well as one recently ratified at Macy's Boston by the UFCW UFCW United Food and Commercial Workers (United Food & Commercial Workers) union. "We are offering this new pay plan to our sales associates in order to provide stable earnings throughout the year," said James Andress, Senior Vice President of Human Resources for Macy's East, Inc. "Implementing this program," he continued, "we hope to cultivate a more seasoned, better informed corps of sales personnel, which in turn will result in a higher level of customer service." The initial introduction of the plan will convert all associates in non-traditional commission areas to a base hourly rate using their average earnings for the previous 52 weeks. Pay rates for associates who have less than one year of service with the company will be calculated on an actual number-of-weeks average of total commission earnings to date. "The beauty of our new plan," states Andress, "is that no sales associate will experience a decrease in his or her personal income at the conversion. Plus, there is the opportunity for additional earnings based on individual performance through the plan's quarterly bonus and seasonal adjustment components." Immediately following this announcement, each participating associate in the plan at the aforementioned Macy's locations will meet with a regional Human Resources executive for a one-on-one walk-through of the plan and to have any questions and/or concerns addressed. Departments not effected by this change include: Furniture; Bedding; Floor Coverings; Men's and Women's Shoes; Men's Clothing & Outerwear; Electronics; Bridal; Cosmetics/Fragrances; Furs; Marketplace/Food; and MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration (Macy's By Appointment). Macy's East operates 91 full service department stores and furniture galleries in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , New Jersey, Connecticut, Massachusetts, Rhode Island Rhode Island, island, United States Rhode Island, island, 15 mi (24 km) long and 5 mi (8 km) wide, S R.I., at the entrance to Narragansett Bay. It is the largest island in the state, with steep cliffs and excellent beaches. , New Hampshire New Hampshire, one of the New England states of the NE United States. It is bordered by Massachusetts (S), Vermont, with the Connecticut R. forming the boundary (W), the Canadian province of Quebec (NW), and Maine and a short strip of the Atlantic Ocean (E). , Maine, Pennsylvania, Delaware, Maryland, Virginia, Georgia, Florida, Alabama and Louisiana. CONTACT: Macy's East, New York Ronnie Taffet/Tim Ray, 212/494-4414/4660 |
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