HRM 548 Week 4 Assignment Forward Style Inc. Employee Policy Memo

Jul 20th, 2016
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HRM 548 Week 4 Assignment Forward Style Inc. Employee Policy Memo You have been hired as the HR manager for a marketing company, Forward Style Inc., with 65 employees. Your first item of business is to evaluate the company’s rewards program to determine if legal requirements are being met by the company. Write an APA paper using no more than 1,050 words to explain which of their offered benefits are required by law and which of the benefits are being used to attract employees. Also, include in your paper how the offered benefits effect the organization based on the above scenario. The company offers the following benefits: Private retirement plan Medical insurance Disability insurance Social insurance, including social security, unemployment insurance, worker’s compensation Pay for time not worked Stock options Child care Family and medical leave of 6 paid weeks and up to 6 additional unpaid weeks

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Running Head: Employee Policy MemoTitle:Course Name:Topic Name:Professors Name:Student Name:Date:Running Head: Employee Policy MemoIntroductionHuman resource is one of the most important sources in every organization. An inspired ormotivated workforce can be a major factor in organizational success. When a workforce of anorganization are highly motivated to work at higher levels of efficiency, the organization runsmore competently and is more successful at reaching its objectives and goals (Welbourne T &Gomez-Mejia L R, 1995). Forward Style Inc. is a marketing company runs with 65 motivatedemployees. This paper evaluating the companys rewards program to determine if legalrequirements are being met by the company. Also the author explains which specific benefits arelegally required and which benefits are being used to attract employees with an explanation ofhow the offered benefits impact the organization.Private Retirement PlanIn an organization employers have no permissible obligation to suggest private retirement plansbut in the present time most of organizations do these things. Importantly private retirementplans must encounter some standards regulate by the ERISA that enhance fiduciary liability ofpension plan trustees, established portability provisions and vesting rights, and effectively set upthe Pension Benefit Guarantee (Welbourne T & Gomez-Mejia L R, 1995). It presenting a 401kwill facilitate for attract and retain main employees. T

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