Compensation Packages for New Employees

1. Create a 1 page Formal Document with your theoretical company’s Basic Benefits Compensation Package for New Hires at Entry Level Positions (Non-Salary). You can spend no more than $30,000 per employee per year as your budget. You must include some type of standardized process for evaluating performance for your company. You must include some type of bonus structure as well. This still is included in the $30,000 Budget.Benefit Packages (Options to use in your standard package)
   • Cadillac Health Care – $20,000/person
     • Low Deductible and Low Out of Pocket Requirements. Dental and Vision
   • Standard Health Care – $10,000/person
     • Standard
   • 401K Match for Retirement – $5,000/person
   • 2 Weeks (10 days) Paid Vacation/Annual Leave – $5,000/person
   • 4 Weeks (20 days) Paid Vacation/Annual Leave – $10,000/person
   • 2 Weeks Sick Leave – $5,000/person
   • Yearly Bonus – $1,000 – $10,000 (Based on Performance Evaluation?)

   Make sure you explain why you put together that basic package for your employees. Why are these benefits important to you?Example of a full benefits document here (Opens In a New Window).

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