Compensation and Benefits Plan

College
Essay
People
Pages 6 (1506 words)
Download 0
Due to shrinking local labor market and increasing turnover within Lansing-Smith Corporation, the board members of Lansing-Smith will propose a complete and progressive compensation and benefits plan to the CEO to augment retention in the Company. Traditionally Lansing-Smith Corporation has paid only minimum wage and mandatory benefits…

Introduction

It is my liability as compensation and benefit expert to conduct market pay studies, these studies decide what jobs that our company ought to pay, what benefits and incentives are suitable. I start with a clearly define job description; insure comparable market information, base pay, salary compensation, salary trend and total compensation. Then I will study salary survey data, make a few phone calls to external sources and send out complete questionnaires to companies and agencies to collect data relating to these job descriptions. The explanation will have title of job, department, who the employee reports to, a job summary and the synopsis of the necessary functions of the job. I then will accumulate my findings on a salary analysis form. "Position title, base pay, benefits such as medical, dental, vision, life, stock options, retirement benefits and additional incentives. (Appendix A & B) This will make it easy to contrast and examine information in various salary categories". With well defined job explanation and great tools to assist organize the information I can accomplish a market pay study to help our company stay spirited.
The job assessment is a tool used to assess the worth of each job in our organization and in the market. ...
Download paper
Not exactly what you need?

Related papers

Compensation and Benefits Plan
It is my liability as compensation and benefit expert to conduct market pay studies, these studies decide what jobs that our company ought to pay, what benefits and incentives are suitable. I start with a clearly define job description; insure comparable market information, base pay, salary compensation, salary trend and total compensation. Then I will study salary survey data, make a few phone…
Managing people
To determine a team's effectiveness, it is necessary to take a look at a variety of factors as well. These include the type of organization, type of employee (volunteer or compensated), the objectives of the stakeholders and the personalities that are involved at all levels. Evaluating the team's effectiveness at XYZ Newspapers, Inc., it is possible to identify several key management theories at…
European Labour Market
(Theil, 2008, p. 76)…
Protection Plan
During the day, the client may have to travel by car, train, and plane and attend a variety of functions, including meetings and invitations for meals at restaurants, and do personal activities such as recreation and errands. Over the day, the client will be exposed to a range of risk levels, ranging from higher risk (meeting and greeting members of the public at an outdoor rally) to low risk…
Training and Development Programmes
Also included is a technique for calculating the Return on Investments for any training activity, ollowing the Phillips model.…
Motivational Needs
This includes food, sleep, water, exercise, clothing shelter and so forth (Iigo, 2000).…
Personal Action Plan
The first thing scholars need to know how to do is an effective library and/or internet search. Before a search can be started the student needs to choose keywords which will narrow down the search criteria. For example, if a student is considering doing a paper on the Civil War and reconstruction then those would be your keywords. However, if you are given a broad subject area then you will need…