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