Course: C236: Compensation and Benefits Assessment Code: XYT Task 2 Student Name: Nicole Turner Student ID: 000333688 Date: Student Mentor Name: Jerry Zermeno A1.: Pay-policy mix (base pay, bonuses, commissions, etc.).& Justify your pay policy. A1a.: YLSS should meet the market. The Silicon Valley/San Francisco Bay Area has a particularly high cost of living, in order to attract talent, they will have to be able to pay their prospective employees enough to live in the area. As the company grows, it can increase its pay and bonus structure and entice more talent. A2. - A2a.: Recommend two adjustments and/or additions to the existing base pay-policy mix. Justify your recommended adjustments and/or additions. Recommendation and Justification …show more content…
The added incentive will help encourage hard work and productivity. A3-A3a.: Recommended three adjustments and justifications. Recommendation and Justification 1: YLSS is currently offering to pay 70% of employee’s HMO health benefits. I suggest they up that to 100%. Health benefits packages are a key way to attract and retain employees. If they are looking to recruit potential employees right out of school, they are potentially about to be booted off their parents’ insurance and will be a key factor in job selection for them. Recommendation and Justification 2: In conjunction with increasing the premiums paid by YLSS, I also suggest they cover 75% of dependents. If the talent you are recruiting has a family, and you try to short change them on insurance, you are not likely to entice them to accept your job offer. Recommendation and Justification 3: YLSS should increase it’s PTO 30 days per year. Many companies in the area are moving towards “Infinite Vacation” policies. This is an attractive benefit for employees and could sway their decision. If YLSS can offer something more generous, it may work in their favor when wooing potential …show more content…
- B1a: Recommend three intangible rewards & Justify Recommendation 1. Close to public transportation 2. Telecommuting Options 3. Autonomy Justification The Bay Area is a traffic nightmare. The option to take public transportation, the CalTrain, for example, is a huge benefit and saves time and money. Telecommuting is also a great way to avoid the hassles of traffic and provide a flexible work schedule. Autonomy goes hand in hand with Telecommuting, with allowing people to have a flexible schedule. Also, it fosters a feeling of trust and encourages productivity and creativity. B2. Employee value proposition (EVP). Located in the Bay Area, YLSS is situated within walking distance to a public transportation hub. We are a passionate and fun team with the desire and skill to create great products by pushing technological boundaries. We are a small group, but rapidly growing and creating nearly limitless possibilities. For your hard work, yo will receive a competitive salary, 401k matching, comprehensive health benefits and generous PTO allowance. Come join our creative and fun working environment! B3. Sample job advertisement. Software Developer Yellow Leave Software Solutions - San Mateo,
In most instances, younger adults don’t really worry too much about their benefits, they just want to know what they are going to get paid and how many days off they are going to get a year… Whereas, those who are older or have a family, are going to be more interested what type of insurance and retirement packages are available. I know with myself; I love money, but I also have four children I need to provide for, so I am equally interested in a company that offers a great benefits package.
In mid-sized companies such as Q-tel, telecommuting is much more frequently used than work in office. According
Telecommuting has been shown to reduce absenteeism, improve retention, and reduce recruitment costs for the organization (Family, pg. 730). Increased employee moral is also a benefit associated with telecommuting (Professional Isolation, pg. 512). Offering this new benefit that is such a satisfier for employees will likely result in reduced turnover within the organization and higher productivity. A study found pubic employees who were satisfied with their telework/telecommuting benefits were less likely to leave their positions (Family pg. 732). With the reduction of office time, an increase in employee productivity is likely due to fewer interruptions from fellow employees (Lessons pg. 10). With telecommuting having benefits to both the employer and employee, this new policy should bring positive results to the
will have a higher premium. These patients must pay the adjustment plus the standard premium
Employers allow telecommuting for many reasons, including the ability to recruit better talent, decrease overhead expenses, increase productivity, expand the employee base to include those with disabilities (Anderson, Bricout & West, 2001; Lipin, 2010; Myungjung & So Hee, 2017), and to support
B. Justify each of your modifications in parts A1 and A2 based on specific current industry standards that are applicable to the case study.
Zach’s major medical insurance coverage seems inadequate. Based on Zach’s recent accident, he must pay about 40% of major medical costs. Zach should increase his major medical coverage. However, to get more attractive deductibles, coinsurance, and internal limits, he would have to pay additional premiums. The amount
A technical solution can be used to improve the performance and efficiency issues experienced by Simple Gateways. My recommendation is to implement SharePoint from Microsoft and PeopleSoft from Oracle.
I have been asked by Cooper-Pearson to research different medical insurance plans that they could consider as one of their selected insurance programs for their marketing company. My goal is to provide them with enough details in order for the company to make an informed decision as to which program they would like to consider. This information will allow them to provide their employees with an effective compensation package that is both affordable and desirable and I believe that once an attractive compensation plan is in place; we should expect the retention rate of the company to improve and the recruitment of quality employees to increase as well. First I will start by demonstrating the comparison and contrast between an HMO plan and a
With the problems of Y Company identified and recommendations for solutions stated clearly, the implementations of the solutions are stated and summarized on the table below. Leadership should reconsider following the strategy of the company in getting along with the employees. Where they do not work, it is imperative to make changes that conform to the present trends of employees’ refusing to put in their best and leadership making some changes in its strategic approach. The changes should gear towards doing something positive in strategic planning towards the vision, mission, cultural diversity, and ethical harmony leading to good working environment. Awareness and enlightenment can be achieved by allocating about $10,000.00 for purchasing
I confirm that this assessment has been completed to the required standard and meets the requirements for validity, currency, authenticity and sufficiency
ALL assignments are required to have a TITLE page which must include the course number and section, team member names, assignment number and due date. Any written component must be prepared using a word processor. Diagrams, charts, and graphs should be constructed using computer software. A portion of the marks for computer constructed diagrams is awarded for professionalism of display. Written answers are to be expressed in complete thoughts. Check spelling and grammar. Answers to assignment questions are to be presented in numerical order. Staple the answer sheets once in the upper left hand corner.
Employer-based health care coverage has been in place for many decades. Employers began offering health care coverage for two main reasons. Providing health care coverage was a way for organizations to gain a competitive advantage. Also, it was a way to add value to an employee’s compensation package without increasing their actual wage amount. Over time, the cost of health care has reached tremendous heights, leading to the government establishing the Patient Protection and Affordable Care Act (PPACA). GMFC is now concerned about the increased costs associated with providing necessary PPACA regulations.
The demand for health insurance increased as medical technology further advanced and as government policies encouraged employers to use health coverage as a form of compensation for their employees. “The market for health insurance exploded in size in the 1940’s, growing from a total enrollment of 20,662,000 in 1940 to nearly 142,334,000 in 1950” (Health Insurance Institute, 1961).
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