Give an example of a compensation package a company can offer to ehnahce their current compensation package to retain employees in the compay . The package must include Paid Time off, sick leave benefits holiday benefits health insurance, pension plan. Please keep in mind the company has full time and part time employees
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Give an example of a compensation package a company can offer to ehnahce their current compensation package to retain employees in the compay . The package must include Paid Time off, sick leave benefits holiday benefits health insurance, pension plan. Please keep in mind the company has full time and part time employees
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- What are employee benefits? Explain how they are a major part of the compensation package. Review a current compensation package and determine if it is adequate and fair given the tasks needed in the job.There has recently been substantial media attention on the “controversy of executive compensation”Taking this into consideration, examine the objectives of a compensation system, employee benefits and benefit planning.Why houlry wages is the most important factor in an hourly hospitality worker's compensation package?
- Traditionally organizations have taken a one size fits all approach toward providing benefits. However, considering the diversity of today’s workforce, more organizations are modifying their compensation packages to include a variety of packages. Some of the rewards organizations can provide include: increased base pay, bonuses, shortened workweeks, extended vacations, paid sabbaticals, flexible work hours, part-time employment, guaranteed job security, increased pension contributions, college tuition reimbursement, personal days off, help in purchasing a home, recognition awards, paid club memberships, and work-from-home options. What are the positive aspects of having individualized rewards? (Think in terms of employees and managers.) What are the negative aspects of having individualized rewards? (Again think in terms of employees and managers.)As a future employee, explain the importance of the following benefits: A. Overtime pay B. Night differential C. Holiday Pay D. 13th month pay E. Leave with Pay F. Maternity/Paternity Leave G. Retirement Paybesides the most important factor in an hourly hospitality worker's compensation package, which are the next two important factors and why are they important?
- What is the most important factor in an hourly hospitality worker's compensation package?Critically analyse the compensation system in an organization of your choice and suggest improvement to the current compensation system.Explain why is Job Description important before the Management of an Organization can decide on the Compensation package of an employee.
- Explain what are the 3 types of delays in terms of compensation and time adjustments?Describe what are the benefits and drawbacks of time based pay plans ?Merit pay plans appear to be the most common form of compensation in the United States. Although widely used, these systems are not suitable for all kinds of jobs. Based on your knowledge of merit pay systems, identify one job for which merit pay may be appropriate. Explain in detail why you chose the job for appropriate merit pay and the job you chose as not appropriate.