Compensation and Benefits Strategies
Compensation and Benefits Strategies 1) Video Chat with Bradley Stonefield Traci: Hello, this is Traci Goldeman with Atwood and Allen Consulting. I wanted to take a minute to talk with you about your business. Just so you?re aware, I will be recording our communications over the next several weeks, including this video chat, and placing them in your file for my employees to use as a reference. Having said that, let?s get started. Why don?t you tell me a bit about you and your business? Bradley: Sure, Traci. My name is Bradley Stonefield and I am opening a limousine service. I?m going to name it Landslide Limousines, and focus on providing first-class transportation. I?m really excited to be working with you as I get everything set up. Traci: And what location are you looking at? Bradley: I plan on opening in Austin, Texas. Traci: What is your current location? Bradley: That?s where I?m currently at. Traci: OK, and how many employees do you have? Bradley: Well, my goal is to have 25 employees within the first year, so that?s the number I?d like to use for any planning. Traci: All right, we?ll keep that in mind. Now, the first thing I?d like to do is to address employment laws, so we can make sure you?re on the right track. I?ll have my employees work on identifying applicable laws as well as the consequences of noncompliance with those laws, then we?ll give you recommendations on how to be compliant. Once we have that, we?ll work on some other HR issues for you. Will that work? Bradley: That sounds great, Traci! Thanks so much for your help, and I?ll look for that information from you. Traci: OK, thank you for your time, and I will be in touch with you soon. Don?t hesitate to contact me if anything changes, or if you have any questions. Bye. ? ? ? ? ? ? CAROLINA , PLEASE DO THE ASSIGNMENT ON THE BOTTOM SCENARIO ? 2) Voicemail from Bradley Stonefield Bradley: Hey Traci, this is Bradley Stonefield. I wanted to talk to you about getting some recommendations for pay and benefits strategies. I have a list of some things I?d like you to keep in mind. I can send you the list if you need me to, but I?ll just summarize it for you real quick. One: I?d like to be comparable to other limousine services. Two: I?m not sure how the market is in Austin, TX, but I want to fit in well there. Three: Again, I?d like to plan for 25 employees. Four: My projected annual net revenue for the first year is -$50,000. Finally, I am predicting 5% revenue growth over the next couple years. I think that?s it. If you could use that information to give me some recommendations, I would greatly appreciate it! Thanks so much, and talk to you more soon. ? ? ? ? ? ? ? ? ? ? ? ? ? THE ASSIGNMENT From: Traci Goldeman To: You Subject: Compensation and Benefits Strategies Recommendations ? Hello, For this task, I need you to develop some compensation and benefit recommendations for the client. Don?t forget to check the Client Communications regarding this issue (SEE #2 ABOVE). In your recommendation, make sure you do the following: Conduct a market evaluation by researching what companies in the relevant market are providing to employees from a total compensation perspective. Recommend a compensation structure. Recommend the position in the market. Create a total compensation and benefits strategy. Consider the use of performance incentives and merit pay to recognize and engage employees. Identify laws related to the benefits and pay program. Your recommendation should be 5 (each pagev300 words) pages words. ? Thanks, Traci Goldeman Manager Atwood and Allen Consulting ? ? ? ? ? ? ? ? ? Answer Preview.. Compensation and Benefits Strategies In today?s world, businesses use various types of resources in an effort to achieve company goals and objectives, and to increase their level of competitiveness in the marketplace. Amongst these resources, many companies find it extremely difficult to develop and maintain effective control of human resource. Companies use different strategies to realize effective management of human resources. As an example, some companies opt to offer attractive benefit packages and compensation to their employees as a way of motivating them towards increased production (Lawler & Boudreau, 2012). Based on these facts, it is evident that companies (such as Landslide Limousines) develop attractive and benefit plan to enhance. APA 1,607 Words Related Questions: Explain what is meant by ?contribution analysis?. Carefully define the term and provide examples to illustrate it Write about?What you learned about negotiation Muckrakers were investigative journalists who exposed corruption in business or government, or examined serious societal issues Analysis of saic.com Globalization What opportunities do businesses have to charge a premium
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