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Hrm Compensation Essay

725 words - 3 pages

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 ...view middle of the document...

The 401k contributions will be matched by the employer up to the first 5%. The company will match every dollar for the first 3 percent. 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...

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