Compensation Plan Outline: Under Armour Inc.

Under Armour, Inc.
Esther Emami
MGMT 415
Professor Jeffrey Weaver
October 25, 2020
Introduction
           Under Armour, Inc. is a sports equipment company that manufactures a wide variety of both casual apparel and sports, such as footwear, athletic gear, and accessories (Under Armour, Inc., 2020). Their company is well known in the international markets and is one of the most popular sports brands in the world. Although the company had inspired solutions for sports performance and needs of athletes, is their compensation program for their employees to match their mission for their customers, which states "Under Armour Makes You Better" (Under Armour, Inc., 2020). In this paper, the compensation program of Under Armour, Inc. including the performance incentives, health benefits, life insurance, retirement benefits, stock purchase plans, holiday pays, and leaves will be discussed. Additionally, to fully understand the extent of their compensation program, this paper will compare their compensation plan with its leading competitors including Nike and Adidas. Lastly, this paper will discuss two improvements in the compensation plan to improve the individual performance of the employees to better meet company goals.
Existing Compensation Plan of Under Armour, Inc.
Base Salary
           In the United States, Under Armour employees around different physical stored reported to have received payments on an hourly basis that ranges from an average of $9.31 per hour for team associate job descriptions up to $32.40 per hour base salary for their Store Managers (Average Salaries at Under Armour, Inc, 2020). Since there are other departments in Under Armour, including fashion designers, software engineers, demand marketing analysts, and human resource partners, these employees have a different range of salary depending on specialization (Average Salary for Under Armour, Inc. Employees, 2020).
Health Benefits
           Under Armour, Inc. has many health and well-being packages for its employees. This is to ensure the safety and continuous high performance of the employees. Specifically, the company generally categorizes health benefits into three segments, (1) medical and prescription drugs, (2) dental benefits, and (3) vision (Benefits at Under Armour, n.d.). In the medical and prescription drug section, Under Armour give its employees an option to choose among their medical plan the fittest for their needs. The medical and drug plan is deducted from the employee paycheck and the company automatically contribute to the health saving account of the employee (Benefits at Under Armour, n.d.).
Depending on the medical option the employee chooses, the higher the premium the higher the deduction from the employee paycheck. Higher premiums had more advantages in their health care expenses as they will receive higher compensation from the company. In the dental section, the employee can choose two plans where the higher plan will include the dental plans of adults and children (Benefits at Under Armour, n.d.). In the vision section, the plan covers eye exams, glasses, and more vision-related issues (Benefits at Under Armour, n.d.)...