Nasher's Nest is Kannel and Boarding facility which requires a secretary at new position. The company can provide competitive package of benefits and compensation to find suitable person. According to Terry Thomason (2001) if Nasher’s Nest Company starts offering good benefits, it will be easier to find and recruit talented secretary for the department. It also has positive effect on marketing and sales.
Employee will be exempt. Our kind of job is usually held by worker with regular position or low-level managers, or other mid-skilled workers. They usually receive a fixed annual base wage and are not prefer overtime pay, because there is no matter how long they work. In addition, very exempt part of employees is often desired to work more than the common 40 hours per week. This happens because of this benefit way for exempt employees is often more profitable than for nonexempt employees. Those benefits may involve health insurance, retirement plan that include profit-sharing and stock option programs, life insurance, 401(k) and other employee stock ownership plans, continuing education incentives, vacation and holiday pay, and sick leave.
Nesher’s Nest provide Flexible work arrangement with next conditions such as: secretary can choose to work additional business hours so long as candidate complete all assignments in a timely manner. The arrangements take many paragraphs. They include working a 4-day week, job-sharing and telecommuting. Company will evaluate flex work programs on a constant basis.
So, Nasher’s Nest should provide competitive compensation package for an exempt position. The represented package of benefits and compensation below entirely agree with companies policy. The activity of Nesher’s Nets subordinated to the idea to care more about the customer, based on five values: understand the cline, to be the best in the work process, to keep own word, inspire, give joy. On this basis and values company are building a vision of an embodiment of our mission. Also, the total compensation package should be created within the organization’s budget and financial abilities.
The largest amount on company's employee benefits is Health. Those benefits’ contributions will be deducted and paid from pre-tax. Company can coverage following areas: medical, vision, prescription drugs to support secretary health. It will be preferable to use point-of-service plan. Point-of-services indicates that before an employee can see a proficient they must have a feedback from their physician. Company may provide dental insurance, but it is not a common benefit though not required by law. Nasher’s Nest affords to pay only the administrative costs and payroll deductions.
Retirement benefits allow declining turnover in company. First, it is very important to define Contribution Plans. For example 401(k) plan. Administer should take a 401(k) plan, because it’s a time- and capital-intensive way to benefit secretary. Secretary should appreciate it largely because it allows her being more financial independent. Traditional Pension is based on a position that determines a future benefit.
Providing secretary with paid vacation time is necessary condition, and common considered a general benefit to offer. Vacations and holidays may be combined under a paid time off (PTO) plan with ill days and provided under separate program. Its duration will be two weeks. Nesher’s Nets practice use-it-or-lose-it policy.
There are a lot of additional benefits in different companies. We prefer next: auto insurance if secretary has automobile. Second is pet insurance as our facility is Kannel and Boarding. Third is homeowners’ insurance, I suppose it is significant benefit for future secretary. And the last if computer purchase discount to motivate secretary develop in IT sector.
The government regulations have a great impact on the compensation and benefits. There are a lot of liabilities which hirer must provide. They are: Fair Labor Standards Act (FLSA), Employee Income Retirement Security Act of 1974 (ERISA), Age Discrimination and Employment Act (ADEA), Economic Growth and Tax Relief Reconciliation Act (EGTRRA) of 2001, Health Insurance Portability and Accountability Act of 1996 (HIPAA) (and amendments), Pension Protection Act of 2006 according to Employee Benefits in Private Industry
Family Medical Leave Act (FMLA) of 1996, for employees to take advantage of this benefit they must be employed for at least 12months and worked over 1250hrs within the 12 months.
These acts obligate company to follow state rules and guarantee secretary with all necessary compensation and benefits. The next significant condition in building of completive benefits is Welfare benefits. This package will contain following set: and Dismemberment (AD&D), basic life, supplemental (optional) life, Accidental STD (Death Short-term disability) and LTD (Long-term disability).
Conclusion
Company can encourage future secretary in many forms – salary, benefits, working conditions. Nester’s Nest will focus on Total Compensation.
Work cited
Caruth, D. L., & Handlogten, G. D. (2001). Managing Compensation (And Understanding It Too): A Handbook for the Perplexed. Greenwood Publishing Group.
Employee Benefits in Private Industry. (n.d.). Retrieved from http://www.bls.gov/news.release/ebs2.toc.htm
Terry Thomason, Schmidle, T. P., & Burton, J. F. (2001). Workers' Compensation: Benefits, Costs, and Safety Under Alternative. Michigan: W.E. Upjohn Institute for Employment Research.
