Common Well International is looking for an experienced Managing Director who will be tasked with overseeing the company’s business operations. As the company grows, this position will be of utmost importance as it will provide strategic leadership and cohesion of business operations. To be an effective managing director, one should be able to advance and manage the business’s strategic objectives. They should also be exceptional leaders who drive the company towards achieving its visions and strategically manage any business crisis (Daley, 1).
Responsibilities of Managing Director
· The managing director in the company will have the following key functions:
· Keep stakeholders informed of any developments within the company
· Give the board of directors and chairman strategic advice and make reports on findings in regards to a given phenomenon
· Be involved in resource management within the company
· Ensure that employees move in a strategic direction towards achieving the company’s objectives
· Research and implement new initiatives within the company that will help attain the company’s vision and goals of the company
· Continuous monitoring of the annual set budget to ensure that revenue and sales targets are met at each level of the company
· Promote the well-being and satisfaction of staff members and implement policies that are in line with government regulations such as employee health and safety standards
· Maintaining the quality of products and services that are being offered
· Preparing annual business reports and presenting the same to the company’s board
· Developing and implementing business plans that improve cost-efficiency
Managing Director’s Requirements
· Five years of experience as a manager in the same capacity
· Expertise in developing and implementing strategic business plans
· Excellent communication, presentation and negotiation skills
· Strong critical thinking, analytical and problem-solving skills
· Excellent organization and leadership skills
· Strong crisis management and conflict resolution skills
· High level of business acumen and awareness
· An honors degree or postgraduate diploma in a business-related field
· Degree in business or finance
· Master’s in business (MBA) or equivalent from recognized institutions
Compensation and Benefits Package
The position will have an hourly wage rate of $25-$ 35. The managing director will be required to work for 8-10 hours a day or 40-44 hours a week. According to regulations, 40 hours
are the required work hours per week, and any additional hours will be counted as overtime, thus attracting a wage of 1.5 times the normal hourly wage.
The position will have a basic salary, which is co8nted as the total amount of cash compensation that the employee will receive from the company at the end of the year. The managing director’s basic salary will be US $100,000 – US $150,000 depending on the level of experience. The salary is a fixed amount that is subject to an annual raise at a rate determined by the board in relation to the company’s performance (Bacon & Stewart, 2).
The performance of the company for the year will determine the raise the managing director will get in their salary. The position is entitled to an annual raise.
These are cash rewards that the managing director will receive and dependent on the company’s business performance. On hitting set performance goals, the managing director will receive 15% of their basic salary. The position thus earns a bonus of US$15,000 –US$ 22,500 annually.
It is an incentive plan that will directly or indirectly provide payment to the managing director, depending on the company’s profitability. The amount will range from US$0- US$30,000.
Some benefits that the position will earn are rights and are required by the law for a company with a certain number of employees. Disability and worker’s compensation, for instance, are benefits that are mandated by law. Extended medical covers also fall under such category, and employees working with the company for a specific period are eligible to the same (Mabaso & Dlamini, 3).
The company will pay the premiums that are required for life insurance policies on behalf of the employee. The managing director position will be eligible for the benefit for the time that they are working with the company.
This is a financial cover that will ensure the employee receives a certain portion of their salary if they are incapable of performing their duties due to injury or extended illness.
Apart from the mandatory medical benefits, the company will offer the managing director’s position additional medical benefits. The position will be eligible for comprehensive health insurance coverage that extends to the members of their immediate family. The medical cover will cater for testing and diagnostic expenses and treatment costs, in the case that the public insurance system can settle the whole bill. The employee will also receive dental insurance, which will cover semiannual dental examinations, cleaning, and X-rays. Optical
insurance will cover any optical expenses that the employee might incur during the time they are working within the company.