For this assessment, use the same company as the one in the previous assessments.(Southern Wellness Care LLC) Assume you have already c

For this assessment, use the same company as the one in the previous assessments.(Southern Wellness Care LLC)

Assume you have already created a budget for your pay and benefits program.

In 5–6 pages:

• Create a compensation philosophy statement for the organization.
• Address the following questions and justify your responses using the job you selected in Assessment 2.
  • Will this position be full time or part time, and exempt or non-exempt?
  • What will the pay for this position be?
  • Will there be incentive pay as well?
• Analyze the major laws with which your compensation program must comply.
• Describe the legally mandated benefits you will include in your benefits package. Identify the state in which this business operates and identify any specific state-mandated benefits as well.
• Describe the discretionary benefits you will include in your benefits package.
• Analyze the major laws or acts with which your benefits program must comply.
• Analyze the employer cost of benefits as a percentage of the total compensation package.
• Analyze the trends that affect the cost of benefits.
• Evaluate the effectiveness of your compensation and benefits program to attract and retain talent.