Hrm- Compensation - 717 Words

Employee Compensation and Benefits Dr. Jean Gordon HRM 530- Strategic Human Resources Management December 11, 2013 Choose the type of Organization for which you are designing a package. The type of organization I have chosen to design a package for is a newly opened medical supply store. The corporate office for the medical supply stores will be located in Lawrenceville, GA. This organization will sell medical supplies to medical facilities as well as to the public. The organization will sell online in addition to have few stores throughout the Metro Atlanta area. This company will have 5 locations and will have a total of 300 employees. Each location will be in charge of the online selling for their zone of 30 mile radius.†¦show more content†¦Thereafter, the 3rd through the 5ht percent will be match by $.50 for every dollar contributed. This compensation package will also include a health spending account to help with medical office co-pay, dental services and for prescription glasses. Due to government regulations the benefits package will include protection under the following laws: FMLA, FSLA, and Affordable health care act. The employee will be eligible for protection under the FMLA after working 1250 hours. In addition, being that this position is a non-exempt position the employee will be paid time and half for anything worked over 40 hours. The 40 hours must be labor work hours and cannot be used in conjunction with pay without work. The rewards package will include bonus for company meeting and exceeding profits and will be awarded semi-annual at the rate of 10% of the annual salary. The 10% will be granted if the company meets 100% of sales goal. If the company meets 95% of the forecasted sales then the employee will be granted 5% of the annual salary. In addition, to the bonus pay the company will provide merit pay increases based on annual employee performances. The most important aspect of this compensation package would be the rewards that will motivate the secretary. Due to this position being an individual contributor it can become a lon ely position. Therefore, it is critical to ensure a reward package is in place to motivate the employee. One of the rewards would be to provideShow MoreRelatedHRM 531 Wk 3 Compensation Benefit1143 Words   |  5 Pagesï » ¿ Compensation and Benefits Strategies Recommendations for Landslide Limousines Patricia Bernal Cody Brenneman Seneca Hart Jose Morales Yolanda N. Marion Michael Templeton Team A HRM531 November 10, 2014 Instructor Foy Wallace, III Compensation and Benefits Strategies Introduction to the assignment for the week. 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