Employee Compensation and Benefits, Assignment 5 help

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Question Description

This assignment consists of two (2) sections: a narrative and a PowerPoint presentation. You must submit two (2) sections for the completion of this assignment. Label each file name according to the section of the assignment it is written for.

Note: For additional information on how to submit more than one file for an assignment, follow the instructions in the document “How to Submit Multiple Files for an Assignment”, located here.

Imagine that you have just been hired by a new company as the director of the HR department. You have been tasked to hire a new secretary for the department and to develop an employee compensation and benefits package that will be used for that position upon hire. Develop a PowerPoint presentation to present this information to your Vice President. Go to the Bureau of Labor Statistics’ (BLS) Website, located at www.bls.gov, for information regarding organizations and pay in your geographical area.  

Section 1: Narrative

Write a two to three (2-3) page paper in which you:

  1. Choose the type of organization for which you are designing the package.
  2. Develop an employee compensation and benefits package for this new position. Support your ideas for the compensation/benefits package.
  3. Use at least four (4) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources.

Section 1 of your assignment must follow these formatting requirements:

  • Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
  • Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

Section 2: Presentation

Create a twenty (20) slide PowerPoint presentation in which you:

4.Provide an overview of the employee compensation and benefits package that you developed in the narrative portion of this assignment.

5.Determine if the employee will be exempt or nonexempt and discuss how overtime will be handled.

6.Suggest other benefits that might be considered within the next few months to enhance employee performance and provide job motivation.

7.Provide information on how government regulations will influence the compensation.

8.Examine data from two (2) organizations listed in the BLS Website with packages similar to yours, focusing on salary, compensation, and benefits in order to convince upper management that your package should be accepted and implemented.

9.Describe how the competitive compensation and benefits package will align with the HRM strategy.

Use this template APA_Template_With_Advice_(6th_Ed) .doc

Tutor Answer

henryprofessor
School: UT Austin

Running head: EMPLOYEE COMPENSATION AND BENEFITS

Assignment 5: Employee Compensation and Benefits
Student Name Here
Strayer University
Professor
Date

1

EMPLOYEE COMPENSATION AND BENEFITS

2

Abstract
It is essential that corporations ensure that their employees’ welfare is well taken care of
regardless of the firm’s performance. This means that there should be a well-developed
compensation and benefits plan to ensure that the workers get rewards for their efforts. This
should also extend to new employees which in this case is the secretary of the newly established
pharmaceutical company. Therefore, the essay will look at the compensation and benefits plan of
the new pharmaceutical company established in Florida and aimed at extending its operations to
other states.

EMPLOYEE COMPENSATION AND BENEFITS

3

Employee Compensation and Benefits
I have chosen a newly developed pharmaceutical store that has a corporate office located
in Miami, Florida. The firm’s primary operations are to sell medical supplies to hospitals,
institutions, other medical stores, as well as other individuals. Other new medical facilities will
be opened throughout California and other neighboring states to cover a wider area as well as
increasing their customer base. Additionally, the new company will sell its products through an
online platform on its website to get to a larger customer base. For that reason, the company will
have additional staff to total 300 employees where each location will have its own 30-mile zone
radius for their online platform selling.
In this regard, every new position should be accompanied by an employee compensation
package. This means that the new secretary will be part of the remuneration and benefits package
plan. For that reason, the essay will look at an employee compensation plan that would be
developed for the position of the new secretarial hire.
An Employee Compensation and Benefits Packages for the Secretary Position
Extensive research from the bureau of Labor statistics shows that the appropriate
comparable fee for any secretary is $25 per hour. The new position that is being filled up will
require a non-exempt position and possible overtime should be approved by the management
before the overtime is given. The secretarial position is to provide a 3-month satisfactory
performance in medical, dental, and a vision plan. This, therefore, means that the firm will have
to pay half of the medical premium with the other half being paid from the employee’s pocket.
Additionally, the employee will have to pay a social security fund of 7.65% while the firm pays
the other 7.65%. It should also be noted that the plan will include pay without work.

EMPLOYEE COMPENSA...

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Anonymous
Excellent job

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